Despite a downturn in Hong Kong’s food and beverage sector, foreign enterprises are still betting on the city as a fine-dining destination, with a South Korean hydroponic ginseng grower and a 123-year-old Japanese confectioner choosing it for their first overseas ventures.
Jack Kwon, founder and CEO of Seoul-based Biofx, signed a deal with Hong Kong hydroponics firm Farm66 last Thursday to grow Korean gourmet ginseng in the city and sell it to local consumers and restaurants.
The deal marks the first time the Korean company has expanded hydroponically grown ginseng operations overseas.
Hydroponics is an indoor cultivation technique in which plants are grown not in soil but in mineral- and nutrient-infused water under LED lights, typically using a method that allows crops to be planted vertically on shelves to optimise space.