K-Market turns Korean ODA rice project into commercial venture in Vietnam
K-Market, the largest Korean-run supermarket chain company in Vietnam, signed a partnership with a local provincial government to purchase and distribute locally grown rice developed through official development assistance (ODA) from the Korean government. According to the company, it signed a memorandum of understanding (MOU) with the Quang Tri provincial government on Thursday, agreeing that…
K-Market, the largest Korean-run supermarket chain in Vietnam, has transformed a Korean government's official development assistance (ODA) rice project into a commercial venture. The company signed a memorandum of understanding (MOU) with the Quang Tri provincial government, agreeing to purchase and distribute locally grown Japonica rice through its private brand product.
The deal, signed on Thursday, will see the retailer sell the rice for three years across its 150 stores nationwide. The rice variety was initially introduced to farmers in Quang Tri province through a Korean International Cooperation Agency (KOICA) project funded by the Korean government to aid local agricultural infrastructure. This marks a significant shift from the aid model to a commercialization approach.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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