Taegyong General Fishery Enterprise is confident that the establishment of the factory as a joint venture with China will serve as a foothod

North Korean processing company will begin exporting products to China

NORTH KOREA
Friday, July 12, 2024, 06:30 (GMT + 9)

The company is certain that the joint venture with China will yield positive results

The Taegyong General Fishery Enterprise in Kimchaek will soon send its first export products to China after building a processing plant with imported equipment through a joint venture with its giant neighbor, Daily NK has learned.

Exclusive economic zone (EEZ) of North Korea

Speaking on condition of anonymity for security reasons, a source in North Hamgyong Province told Daily NK on Monday that Taegyong General Fishery Enterprise “completed a factory capable of fishing, processing and health and product quality control in mid-June with seafood processing equipment imported through a joint venture with China.” He said the factory had started production and would send its first export items to China on July 10.

According to the source, the Chinese side established a factory in North Korea as a joint venture to sell processed seafood produced in North Korea worldwide, while the North Korean side hopes to earn foreign exchange by exporting to China.

“The factory is ready and staffed with workers and officials,” the source said. “Technical transfers related to fish processing have already taken place, so the factory has a certain production capacity. All that remains is to produce goods and export them.”

Optimism abounds ahead of first exports

Taegyong General Fishery Enterprise is confident that the establishment of the factory as a joint venture with China and its production of export items will serve as a foothold for bilateral trade and economic cooperation. The company is also certain that the joint venture will yield positive results – namely, giving the company world-class competitiveness through the latest processing technology and health and product quality management systems.

In particular, the company appreciates how the factory provides a sustainable base for foreign exchange earnings. It also plans to strengthen its competitiveness in international markets through continuous technical innovation and improved product quality.

The company even said it hopes local residents will enjoy continuous exchanges with China, and looks forward to more joint ventures to improve people’s lives.

“Ahead of the launch of its first export products, the factory is pushing its workers, telling them that the items flawlessly processed in a more sanitary environment must boldly appear throughout the world through China,” the source said. “It is urging workers to plan their organized activities well so that there are no cracks in production, including quality inspections.”

The factory is also cracking down on its own workers, the source said, telling them never to give its products to private traders.

Author/Source: Jeong Seo-Yeong/Daily NK

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www.seafood.media

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