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| Lee Ju-myeong, director general of the Ministry of Agriculture, Food and Rural Affairs, speaks about the planned Korea National Food Cluster during a briefing session at the Grand Hyatt Hotel, Seoul, Friday. / Courtesy of Communications Korea |
By Bahk Eun-ji
The government pledged Friday to grow a regional cluster of food businesses, called Foodpolis, into a hub of Northeast Asian food markets.
The Ministry of Agriculture, Food and Rural Affairs (MAFRA) has tried to attract companies to the cluster of food makers in Iksan, North Jeolla Province, since 2011.
"The Foodpolis is an ideal investment place for foreign food companies because Korea has emerged as the best strategic location thanks to its proximity to China and Japan," said Lee Ju-myeong, director general of MARFA during a briefing session at the Grand Hyatt Hotel, Seoul.
"Foodpolis will provide great geographical conditions and business opportunities for foreign companies, and the recent signing of an FTA with China will also be a meaningful turning point," Lee said.
The government seeks to complete Foodpolis by 2016 in the southwestern city.
It is a cluster within 50 kilometers of an airport as well as a port. It is also located within 3 kilometers of local highways and 20 kilometers from bullet train stations.
Foodpolis has so far signed agreements with more than 100 food businesses, both domestic and foreign, and the allocation of its land to domestic businesses started earlier this month.
Around 10 Chinese food companies have already signed deals with the ministry, and they have expressed their intention to use Foodpolis to re-export goods by setting up a plant within the cluster, and then ship the products back to China.
The ministry also plans to provide incentives for companies in the cluster.
"Foreign businesses in the cluster will enjoy privileges, including reductions and exemptions of rent for 50 years and exemptions from tax for three years," the director said.
Domestic major food firms such as CJ Group, Dongwon F&B, Harim and Sempio have signed agreements to set up plants.
Foodpolis will be a home for various food-related companies and institutes, such as the Food Quality & Safety, Food Functionality Evaluation and Food Packaging centers.
These facilities will provide technology and facilities associated with food safety, functionality and packaging based on Korea's world-class information technology.
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