RoK to import seafood from Bac Lieu

The Republic of Korea’s SAJO-Daerin Company has signed a memorandum of understanding on seafood import-export with the Bac Lieu Fisheries Joint Stock Company (BacLieufis), according to the Vietnam Seafood Exporters and Processors’ Association (VASEP).

Under the MoU, SAJO-Daerin will annually import around 2,000 tonnes of fried fish from BacLieufis between 2009 and 2011 and cooperate with the company in processing canned seafood and constructing a storage facility in Vietnam .

The RoK company will provide BacLieufis with a 30 billion VND loan, with an annual interest rate of 18 percent. After one year, the loan will be converted to the company’s share capital in the form of convertible bonds.

SAJO-Daerin is an affiliate of SAJO Industries, one of the leading seafood group in the RoK.

VNA

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