Steven Tan Eng Chong (left), Group CEO of FDI Global, and Hur Beom Yun, CEO of Ocean Global, are posing after the signing ceremony between the two companies during a press conference in Kuala Lumpur.
KUALA LUMPUR: FDI Global, Malaysia’s vertically integrated aquaculture and seafood processing company, has signed a Memorandum of Understanding (MOU) with Oceans Global, a fast-growing Korean seafood importer and a company associated with Foosung Group, one of Korea’s long-established industrial conglomerates.
Foosung Group is a diversified Korean industrial Group with more than KRW2.13 trillion in revenue, 25 affiliates, and over 3,100 employees. Its subsidiaries supply key materials and components to major Korean industrial names, including Hyundai Steel and Hyundai Motor.
Under the MOU, Oceans Global will receive first negotiation rights for up to 60 metric tons of shrimp per month for import into the Republic of Korea. The agreement covers FDI’s premium Black Tiger Shrimp (Penaeus Monodon), Pacific White Shrimp, and other value-added seafood products produced at FDI’s farms and processing facilities.
At a press conference in Kuala Lumpur, Steven Tan Eng Chong, Group CEO of FDI Global, said: “Partnering with Oceans Global marks an important step as we deepen our presence in North Asia. Korea is a long-term strategic market for FDI, 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 billion in 2024, with imports accounting for the majority of domestic consumption.
Korea imported US$640 million of shrimp in the first ten months of 2023, driven by strong demand from retailers, hotels, home-shopping channels, and institutional catering. Shrimp is a key protein in Korea, where annual seafood consumption averages 65.6 kg per person, one of the highest in the world.
A key part of the partnership is the alignment of quality control (QC) standards for the Korean market, including antibiotic and virus testing, hygiene audits and export documentation. The parties will also develop a joint Production Quality Standard Manual to support consistent, compliant shipments.
Michael Saw Eng Hoe, General Manager of FDIGS Makmur Sdn Bhd, added: “This partnership also strengthens our operational alignment with the 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.”
The MOU further includes cooperation on sustainability and ESG initiatives such as eco-friendly farming, cold-chain optimisation, and carbon-reduction efforts.
Hur Beom Yun, the CEO of Ocean Global, said their establishment is indeed proud of the partnership, noting that South Koreans, these days, are going into the consumption of shrimps.
"These days, shrimps are included in many of our foods, and it is a growing preference as more and more people enjoy shrimps in their daily food intake. We foresee even a bigger market for shrimps back home, and hence this is where the deal with FDI Global comes in," said Hur, during the press conference.
About FDI Global
FDI Global Sdn Bhd is a Malaysia-based integrated seafood and food company specialising in sustainable marine aquaculture, seafood wholesale and strategic food-related investments. Incorporated in 2018, the company operates from Selangor and focuses on high-quality shrimp and seafood production for both domestic and international markets.
Through its core subsidiary, FDIGS Makmur Sdn Bhd, FDI Global is developing a high-tech tiger prawn farming and export hub in Pahang, in close collaboration with the state government to drive industry upgrading and local economic growth. Leveraging advanced IoT-based farm management, strict quality controls and planned adoption of solar power, the group aims to set a new benchmark for sustainable aquaculture in Malaysia.
FDI Global’s ecosystem also extends into complementary distribution segments such as seafood and meat import and export, enabling end-to-end value creation from farm to market.
About Oceans Global
Oceans Global is a Busan-headquartered food trading and distribution company that specialises in the import and export of seafood and other food products. The company sources from more than 20 countries through long-term partnerships with farms and processors, supplying a wide range of frozen and value-added products to the Korean market and overseas buyers.
By combining on-the-ground presence, investment in production and strict quality management, Oceans Global provides a reliable, fully traceable supply from origin to end customer. Its distribution channels cover retail, foodservice, and hospitality, positioning the company as a strategic gateway for global food brands seeking access to Korea and broader Northeast Asia.
