15 March 2013

A South Korean company, SCFNZ Ltd, which is owned by the South Korean Sunchang Corporation, has bought 1000 hectares of land in the Waihopai Valley, expanding its Marlborough forestry holdings to almost 4000 ha.

Information from the Overseas Investment Office (OIO), shows it was given consent in January. The price was confidential. OIO documents showed SCFNZ Ltd  planned to harvest and replant the land to ensure a steady supply of timber.

"The overseas investment will allow Sunchang Corporation to secure a portion of the logs it requires from its own forests which will enable it to control the quality of those logs."

The Benhopai sale was the company's second Marlborough land purchase within six months. In August it bought 2900 ha of forestry land on Northbank.

Sunchang manufactures plywood, fibrewood and lumber and is one of many overseas wood product manufacturers eager to secure their sources of supply.

Story by Kat Pickford, Marlborough Express. To read the full story, click here.