Asia Seed Co., South Korea’s leading developer and supplier of vegetable seeds, has been accelerating its advance into overseas market with novel and innovative seed varieties. Unlike 60 other seed companies in the country that focus mainly on the domestic market for sales, Asia Seed has been focused in the global market for business growth.

Last year, Asia Seed pulled in 30 percent of its sales of 19.6 billion won ($17.2 million) from abroad. The company supplies vegetable seeds to about 40 countries including the United States and in Europe, Asia, and Africa. Asia Seed is Korea’s second-largest exporter of vegetable seeds in terms of volume, after Nongwoo Bio Co., a unit under National Agricultural Cooperative Federation.

Recently, Asia Seed exported 2 billion won worth of salad baby leaf seeds to the U.S. and Europe. It is also in talks with four companies in Vietnam to supply baby leaf as well as purple vegetable and mixed salad seeds, one of its strengths.

Unlike cabbage seeds that take up to 80 days to cultivate and grow, Asia Seed has developed early maturing cabbage seeds that can be packed in just 40 to 50 days. It tapped into the Indian cabbage seed market with these creative seeds.

Ryu Kyoung-ou, chief executive of Asia Seed, said that a large cabbage variety weighing up to 9 kilograms developed by the company accounts for about 80 percent of Kenya’s cabbage market. The cabbage seeds - called Arirang World - have been exported to South Africa for cultivation and growth for regional sales.

Asia Seed’s growth and competitiveness in overseas markets are based on steady research and development (R&D). Every year, the company spends 15 percent of annual sales on R&D.

Based on business expansion and growth, Asia Seed is hoping to go public on the secondary Kosdaq market in October.

By Ahn Gab-seong

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]