For five years from 2009; royalty income will surpass payments in another five years 

◇ The Gyeonggi-do Agricultural Research and Extension Services (GARES) announced on August 13 that it has received a total of KRW 720 million in royalties by exporting 2.48 million seeds for five new rose varieties including Deep Purple to 163 farms in 19 countries from 2009 to July this year. ⓒ Gyeonggi G-News

With newly developed rose varieties, the Gyeonggi-do Agricultural Research and Extension Services (GARES) has so far received over KRW 700 million in royalties. 

GARES announced on August 13 that it has received a total of KRW 720 million in royalties by exporting 2.48 million seeds for five new rose varieties including Deep Purple to 163 farms in 19 countries from 2009 to July this year. It said royalty earnings this year alone have already reached KRW 200 million.

GARES exports began with an initial sale of 50,000 units of a new rose variety named Green Beauty, garnering USD 3,856 in royalties. It was quite a surprise for a country whose floricultural industry had always paid royalties to other countries.

Korea has gained recognition as a rose-exporting country after GARES received royalty earnings of USD 15,188 in 2011, followed by USD 29,092 in 2012, USD 66,642 in 2013, and USD 193,363, in 2014.  

So far, Gyeonggi Province has exported: 239,687 Green Beauty roses to 32 farms in eight countries; 2,087,663 units of its main item, Deep Purple roses, to 137 farms in 11 countries; 108,580 Rock Fire roses to nine farms in six countries; 16,180 Sliver Shadow roses to two farms in one country; and 31,947 Ice Bear roses to 14 farms in nine countries. All the new varieties are being sold on world markets.

The world’s leading producers are Ecuador, Colombia and Mexico in Latin America, and Kenya and Ethiopia in Africa.

“The beginning was humble, but now it has surpassed the level of a small rose-breeding company in the Netherlands,” said Jeong Byoung-soo, CEO of Wonwoo Trading, a trading agency responsible for exporting the new roses developed by GARES. “The royalties paid abroad by rose farms in Gyeonggi Province amount to about KRW 500 million every year. It is projected that royalty earnings will surpass royalty payments abroad in five years.”

Kim Soon-jae, the director of the Horticulture Industry Research Division of GARES, said, “Four new rose varieties, named Ice Red, Show Girl, Crush Candy, and GR09-21, will be ready for planting overseas and begin sales in earnest in local markets starting from next year. So far, the sale of one variety, Deep Purple, has accounted for 80% of our total sales, but sales are projected to gradually increase in Africa including Kenya and Ethiopia from next year.”

Kim added, “The success of new roses developed by Gyeonggi Province proves that our rose-breeding technologies have come to the forefront in Asia. We will focus on overseas markets as we continue to develop new roses, and thereby increase our world market share.” 

ⓒ Gyeonggi G-News | Chun Kyung-nam ckn0403@kg21.net

http://gnews.gg.go.kr/news/news_detail.asp?number=201408131242077055C052&s_code=C052