Ecowin Co, a venture firm specializing in eco-friendly pesticides, said it has entered the Turkish market by setting up a joint venture with Fipa Ekolojik.
Under the deal, Ecowin will provide organic fertilizer technologies to the Turkish firm in return for a 50 percent stake in the joint venture firm, which will open up a crucial channel to the regional market.
The joint venture will manufacture environment-friendly pesticides based on Ecowin’s core technologies. The Korean company, founded in 2008, has been snapping up a host of awards in Korea while expanding its export channels to about 30 countries.
Ecowin, based in Daegu, said the latest deal for Turkey, which supplies 80 percent of the world’s apricot demand, will provide a key regional distribution channel to other markets including Europe, Asia and Africa.
(
insight@heraldcorp.com)
