MoU with RDA on Disclosure and Utilization of Public Agricultural Data Cooperation to combat food crisis by conducting carbon reduction projects and developing AI-based solutions
SEOUL, South Korea, May 25, 2022 /PRNewswire/ — Korea’s biggest AgTech startup Greenlabs (CEO Ahn Dong-Hyun) announced on Wednesday it signed a Memorandum of Understanding (MoU) with Rural Development Administration (RDA) on Disclosure and Utilization of Public Agricultural Data. Government officials including the Head of RDA Digital Agriculture Strategy Department, Sung Je-Hoon, attended the signing ceremony that day.
CEO of Greenlabs Ahn Dong-Hyun (left) and Head of RDA Digital Agriculture Strategy Department Sung Je-Hoon (right), signed an MoU on 24th on ‘Consolidation on Agricultural Data Use’ at the Greenlabs HQ)
The MoU to this effect was signed to promote cooperation between the two organizations, encouraging the use of shared agricultural data collected from both public and private sectors.
The MoU aims for close cooperation of the two companies in the following areas:
building an agricultural data ecosystem for digital expansion in agriculture, disclosing agricultural data to create new services and solve pending agricultural issues, developing an agricultural data analysis cloud to promote data usage, conducting carbon reduction projects to combat climate change and food crisis, developing big data and AI-based solutions, and exchanging domestic and foreign information concerning agricultural data and organizing joint projects.
Greenlabs is a leader in the digital transformation of the agricultural sector with its comprehensive agricultural platform ‘Farm Morning’ and agricultural product distribution platform ‘Sinsun Hi.’ Especially, Farm Morning’s digital solution service includes agricultural franchise, farm construction, crop cultivation, and distribution sales. It is a one-stop agriculture platform that digitizes all the agricultural solutions necessary for farmers. Using the public agricultural data now available to them, Greenlabs plans to upgrade the existing Farm Morning service and expand on new businesses such as carbon neutrality and international markets.
“This data cooperation with the RDA will accelerate and expand the innovation in digital agriculture”, said Ahn, the CEO of Greenlabs. “With our service ‘Farm Morning,‘ which has recently exceeded 650K users in Korea, Greenlabs will expand the value of agricultural data and lead agricultural innovation both in overseas as well as in South Korea”, the CEO added.
The Rural Development Administration(RDA) is Korea’s representative government department in charge of rural and agricultural development. It plays a key role in leading innovation in agricultural technology, solving pressuring issues like the climate crisis and carbon neutrality through digital transformation in agriculture. It is a key organization that ensures food security within Korea.
With agricultural data from production and distribution, Greenlabs seeks to provide meaningful solutions for farm management and aims to foster the agricultural ecosystem. Greenlabs has received investments from DS Networks, BRV Capital Management, Skylake Incuvest, and SK Square(KRX: 402340), which brings its total investment to 210 billion KRW($140M).