Green Plus

What Green Plus does

Green Plus (주식회사 그린플러스, KOSDAQ: 186230) is a South Korea-based, Yesan-headquartered smart farm and green technology company that designs, builds, and operates high-tech greenhouse systems, plant factories, smart aquaculture facilities, and aluminum structural products. Founded in 1996/1997, the company holds 70 domestic and international patents across cultivation systems (notably the Up-Down Cultivation System maximizing effective area 2-10x, Root-Zone Cooling/Heating, and Double Skylight ventilation), aquaculture, and BIPV solar tracking, with 9 consecutive years ranked #1 in Korea Agricultural Facility Association greenhouse construction capability. The firm's revenue model is project-based construction and supply of turnkey smart farms plus ongoing hardware sales of aluminum extrusion products, BIPV solar systems, and aquaculture/strawberry farming output from wholly-owned subsidiaries Green Fish Farm (eel, ~900 tons/year, 224 tanks) and Green K Farm (plant factory). Customer base is dominated by Korean provincial governments for youth/rental smart farm programs (project sizes 20-60B KRW), a 24-year strategic channel partnership with Japan's #1 smart farm integrator Daisen (priority rights, 10B JPY annual order target), and a 2024 flagship 253B KRW contract with Australia's PureGreen Farms paired with a 10-year exclusive strawberry supply deal.

Name

Green Plus

Legal name

주식회사 그린플러스

Website

https://greenplus.co.kr

Company type

Public

Founded year

1996

Headcount range

101–250 employees

Short description

Green Plus (주식회사 그린플러스) is a Korea-based KOSDAQ-listed smart farm company that designs, builds, and operates turnkey high-tech greenhouses, plant factories, aquaculture (eel) facilities, and aluminum structural products for Korean government programs and international agricultural operators in Japan, Australia, and the Middle East.

Ownership category

akta.pro rank

Product category

Smart Farm Systems & Agricultural Technology

NAICS

Agricultural Implement Manufacturing (33311), Food Crops Grown Under Cover (11141), Aquaculture (1125)

SIC

Farm Machinery & Equipment (3523), Agricultural Prod-Livestock & Animal Specialties (200)

akta.pro primary industry

Greenhouse Structures & Construction (Frames, Glazing, Benches) (AFAAAHAA)

akta.pro secondary industries

Greenhouse Vegetable Production (Tomatoes, Cucumbers, Peppers, Leafy Greens) (AFAGAHAA), Irrigation & Water Management Equipment (IMAHACAE), Hydroponic & Aeroponic Growing Systems (NFT, DWC, Ebb/Flow, Misting) (AFAAAHAD)

Keywords

• Smart farm systems
• Greenhouse construction
• Aluminum extrusion products
• Plant factory systems
• BIPV solar systems

Headquarters

HQ city

Yesan

HQ country

South Korea

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Smart Farm Construction and Supply: Design, material procurement, and construction of smart farms including greenhouses. Provides one-stop service from planning to completion. Major contracts include youth smart farms, rental-type smart farms, and large-scale commercial smart farms.
2. Aluminum Products: Aluminum extrusion, processing, and finished products including gutters, pallets, grating, and structural components for construction, industrial, and agricultural applications.
3. Solar Power Systems: BIPV solar solutions, wall trackers, and tracking systems for renewable energy applications.
4. Aquaculture Operations: Eel farming through Green Fish Farm subsidiary, producing approximately 900 tons annually with 224 aquaculture tanks.
5. Plant Factory Products: Vertical farms and plant factories operated through Green K Farm subsidiary, producing strawberries and other crops year-round.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Green Plus designs, manufactures, and constructs high-tech smart farm greenhouses, plant factory systems, and circulation filtration aquaculture systems using proprietary technologies such as Up-Down vertical cultivation and root-zone climate control. It also produces and sells aluminum extrusion products, BIPV solar tracking systems, and smart logistics equipment (rolltainers, pallets, non-slip grating) for agricultural, construction, and industrial customers.

Product overview

Green Plus operates as a diversified green technology company with multiple integrated business divisions. The core offerings include Smart Farm (스마트팜) - high-tech greenhouse systems with patented technologies like the up-down cultivation system and root-zone cooling/heating; Plant Factory (식물공장) - artificial light and hybrid plant factory systems; Smart Aquaculture (그린피시팜) - circulation filtration eel farming; and Aluminum Products (알루미늄) - extrusion and processing with 500+ profile types. Supporting divisions include Solar Power/BIPV for building-integrated photovoltaics, Urban Landscape for LED lighting solutions, Greenery Landscape for building greening, and Smart Logistics offering aluminum pallets, rolltainers, and non-slip grating. The company also provides specialized services including Youth Smart Farm construction projects and Desert Climate Adaptive Smart Farm solutions. Subsidiaries include Green K Farm (그린케이팜) for plant factories and vertical farming, and Green Fish Farm (그린피시팜) for aquaculture operations.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Ventilation rate increased by 60% with double skylight system
• +4 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• Daisen (Strategic Partnership Expansion)flagshipStrategic or Co-development Partner · 31 October 2024Expanded strategic partnership agreement combining Green Plus construction technology with Daisen's Japan network for global smart farm market competitiveness. Priority rights secured for Daisen greenhouse construction projects.
• PureGreen Farms (RedKokonuts Pty Ltd)flagshipChannel Partner/ Reseller/ Distributor · 23 September 2024253 billion KRW strawberry smart farm construction contract. PureGreen Farms operates under RedKokonuts Pty Ltd. Partnership includes 10-year exclusive strawberry supply contract with major Australian produce distributor P.
• ADAFSA (Abu Dhabi Agriculture and Food Safety Authority)coreStrategic or Co-development Partner · 1 January 2019UAE Desert Climate Adaptive Smart Greenhouse Convergence Design and Demonstration Model Development project. Data collection on greenhouse environmental factors in UAE desert conditions.
• Rural Development Administration (Korea)coreStrategic or Co-development Partner · 1 January 2019Research and development partnerships for greenhouse technology including reclaimed land installation models, energy-saving greenhouse design, and standardization projects.
• Van der Hoeven (Netherlands)coreStrategic or Co-development Partner · 1 January 2017Strategic cooperation agreement signed with Van der Hoeven, the Netherlands' leading greenhouse technology company. Collaboration for shared growth and technology exchange in high-tech greenhouse solutions.
• Farm 4.0 (Australia)minorStrategic or Co-development Partner · 1 January 2017Technical cooperation with Australian company Farm 4.0, known for best practices and diverse programs in the Australian market.
• Seoul National University (Plant Factory Project)coreStrategic or Co-development Partner · 1 January 2010Selected for plant factory national project with Seoul National University. Total 2.4 billion KRW project for plant factory core element technology development and model construction.
• Daisen (Japan Smart Farm #1)flagshipChannel Partner/ Reseller/ Distributor · 1 January 200020+ year exclusive partnership with Japan's #1 smart farm company. Annual aluminum supply contract since 2000, expanded to comprehensive smart farm solutions. Joint projects include 70万평 in Japan, including 4만평 Kakome tomato farm. Annual order target of 10 billion JPY through priority rights on Daisen projects.

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Van der Hoeven: Netherlands-based global leader in high-tech greenhouse construction and smart farming solutions. Direct competitor in international smart farm projects, and an existing strategic cooperation partner of Green Plus — making it both a competitor and collaborator in the same product category.
• Daisen: Japan's #1 smart farm company and Green Plus's flagship channel partner of 20+ years. Operates in the same greenhouse construction space and purchases Green Plus's aluminum and smart farm systems; functions as both a customer/channel and a domestic Japanese peer competing for greenhouse projects.
• Kubo Green Projects: Dutch high-tech greenhouse builder serving global clients across horticulture, vertical farming, and semi-closed greenhouse segments. Directly competes with Green Plus in international smart farm tenders and shares the same enterprise customer base of agricultural corporations and government agencies.
• Certhon: Netherlands-based designer and builder of high-tech greenhouses, plant factories, and indoor farming solutions. Competes head-to-head with Green Plus in turnkey smart farm construction for international clients, with similar integrated design-build capabilities.
• Richel Group: French greenhouse manufacturer with global operations in turnkey greenhouse construction for vegetables, berries, and flowers. Directly comparable as an international greenhouse EPC competitor to Green Plus's mid- and large-scale project business.
• Spread Co. Japanese operator of large-scale indoor plant factories (Techno Farm). Comparable to Green Plus's plant factory and Green K Farm vertical farming operations, with a similar focus on fully automated year-round crop production.

Broad incumbents

• Priva: Dutch leader in climate control, process control, and horticulture automation software/hardware. Competes with Green Plus's environmental control subsystems (root-zone cooling, double skylight automation) and is integrated into many of the same Dutch-built greenhouses, making it a complementary incumbent.
• Signify (Philips Horticulture LED): Global horticultural lighting leader supplying LED grow lights for greenhouses and vertical farms. An adjacent incumbent whose lighting products are typically integrated into high-tech greenhouse systems similar to what Green Plus designs and builds.
• Netafim: Israeli global leader in precision irrigation and smart agriculture solutions. Adjacent incumbent providing irrigation and fertigation subsystems that complement greenhouse structures — competes for components of the integrated smart farm solution Green Plus delivers.

Emerging players

• Sky Greens: Singapore-based vertical farming company specializing in low-carbon hydraulic rotating cultivation systems. Comparable to Green Plus's up-down cultivation system in concept and target use case (space-efficient vertical farming), though at a smaller scale and different geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/greenpluskorea

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Green Plus