Kang Tae-young, CEO of NH NongHyup Bank, has visited AIOFARM, an artificial intelligence (AI)-based agritech startup.
NH NongHyup Bank said Wednesday that Kang visited the Wolhang NongHyup Agricultural Products Processing Center (APC) in Seongju County, North Gyeongsang Province, on Monday to review the operational status of AIOFARM's AI-based produce sorting system.
AIOFARM is a portfolio company of NH NongHyup Bank's agri-food fund. Through the fund, the bank provides financing to startups in the agricultural industry, including foodtech and agritech.
AIOFARM's flagship product, AIOVISION, is a system that determines 26 types of defects in real time — including deformities, pest damage, and sugar content — for agricultural products such as Korean melons, tomatoes, apples, and tangerines. The system processes up to 36,000 items per hour, delivering more than 30 times the efficiency of skilled labor. The Wolhang NongHyup APC, which Kang visited, is a leading case of AIOFARM's AI sorter deployment.
AIOFARM has also recently developed a transparent belt system that enables full-surface inspection without rotating the produce, expanding its application to vegetables such as garlic and chili peppers.
On the day of the visit, Kang held a meeting with AIOFARM CEO Kwak Ho-jae and other executives, focusing on the operational performance of the AI sorting system, strategies for technological advancement and expanding applicable items, support for management consulting and network linkages, expansion of financial support including loans and guarantees, and value-up strategies for each future growth stage.
"AIOFARM's AI sorting technology is an innovative case that solves the on-site challenge of rural labor shortages while also enhancing the quality competitiveness of agricultural products," Kang said. "NH NongHyup Bank will continue to serve as a reliable partner from investment to growth, so that excellent agritech companies can take root throughout agricultural sites."
