FarmHannong has established legal entity in Brazil … aiming at South America market

FarmHannong, an agrochemical subsidiary company of LG Chem, announced its establishment of legal entity in Brazil. Now, FarmHannong has 5 legal entities including USA, Thailand, Malaysia, Indonesia and Brazil.

With ‘Terrad’or’, the new herbicide molecule, FarmHannong is aming at penetration of crop protection market worthing up to $11bn in Brazil. The registration of Terrad’or in Brazil, which has been preparing from 2018, is expected to be complete in 2022.

FarmHannong is planning to expand business portfolio such as herbicide molecule ‘Metamifop’, insecticide molecule ‘Bistrifluron’ and eco-friendly plant growth stimulator ‘LPE(LysoPhosphatidyl Ethanolamine)’ in addition to ‘Terrad’or’.

Jeff Kwon, a vice president of FarmHannong, expressed his expectations, stating, “The establishment of legal entity in Brazil is a significant milestone for FarmHannong to expand global business. By putting full capability on exploring new business opportunities and laying the groundwork, FarmHannong will succeed in development of South America market.

FarmHannong expects that legal entity in Brazil will be a bridgehead for South America business and plans to enter the market of the countires beloing to the South America economic community ‘Mercosur’, such as Argentina, Paraguay and Uruguay.