FDI Global Sdn Bhd, a home-gown vertically integrated aquaculture and seafood processing outfit, has signed a memorandum of understanding (MOU) with Oceans Global Co Ltd, a fast-growing seafood importer which is associated with Foosung Group, one of South Korea’s long-established industrial conglomerates.
Foosung Group is a diversified South Korean industrial group with more than 2.13 tril won (RM598.72 mil) in revenue, 25 affiliates and over 3,100 employees.
Its subsidiaries also supply key materials and components to major South Korean industrial names, including Hyundai Steel and Hyundai Motor.
Under the MOU, Oceans Global will receive first negotiation rights for up to 60 metric tonnes of shrimp per month for import into South Korea.
The agreement covers FDI Global’s premium Black Tiger Shrimp (Penaeus Monodon), Pacific White Shrimp and other value-added seafood products produced at FDI’s farms and processing facilities.
“Partnering with Oceans Global marks an important step as we deepen our presence in North Asia,” commented FDI Global’s group CEO Steven Tan Eng Chong.
“South Korea is a long-term strategic market for FDI Global, not just for volume growth but also for building a premium, sustainable Malaysian shrimp brand that can stand alongside the best suppliers in the region.”
The South Korean shrimp market is valued at US$1.37 bil (RM5.65 bil) in 2024 with imports accounting for majority of domestic consumption.
In the first 10 months of 2023, South Korea imported US$640 mil (RM2.64 bil) of shrimp driven by strong demand from retailers, hotels, home-shopping channels and institutional catering.
Shrimp is acknowledged as a key protein in South Korea whereby the country’s annual seafood consumption averages 65.6kg per person – one of the highest in the world.
A key part of the FDI Global- Oceans Global’s partnership is the alignment of quality control (QC) standards for the South Korean market which include antibiotic and virus testing, hygiene audits and export documentation.
As such both parties will develop a joint Production Quality Standard Manual to support consistent and compliant shipments.
Michael Saw Eng Hoe, the general manager of FDIGS Makmur Sdn Bhd, a subsidiary of the Pahang-based FDI Global, expects the tie-up to strengthen the company’s operational alignment with the South Korean market.
“By working closely with Oceans Global on QC standards, documentation and process discipline, our team is committed to delivering consistent and compliant shipments for this new export channel,” he enthused.
In a broader sense, the FDI Global-Oceans Global MOU further includes cooperation on sustainability and ESG (environment, social and governance) initiatives such as eco-friendly farming, cold-chain optimisation and carbon-reduction efforts. – Dec 3, 2025
