Although Hong Kong’s food and beverage sector faces ongoing headwinds, international businesses remain confident in its standing as a premier fine-dining destination. A South Korean hydroponic ginseng producer and a Japanese confectioner with 123 years of history have both chosen the city for their first overseas ventures.
Jack Kwon, founder and CEO of Seoul-based Biofx, signed an agreement last Thursday with Hong Kong hydroponics firm Farm66 to cultivate Korean gourmet ginseng locally and supply city consumers and restaurants.
The deal marks Biofx’s first overseas expansion of its hydroponically grown ginseng operations.
Hydroponics is a soil-free indoor cultivation method in which plants are nourished with mineral- and nutrient-infused water under LED lights. Crops are typically arranged vertically on shelves to optimize space.