Investors have high expectation on cluster

Fabio Gallina, left, CEO of Italian food company Forno d' Asolo, poses with Kim Kyung-mee, director of the Ministry of Agriculture, Food and Rural Affairs, after signing a memorandum of understanding to invest in An artist's concept of the Korea National Food Cluster that will open in Iksan, North Jeolla the Korea National Food Cluster at Grand Hyatt Hotel in Seoul, Wednesday.

By Park Si-soo

Italian food company Forno d’ Asolo has decided to join the country’s first state-funded food cluster, which will open in Iksan, North Jeolla Province, in 2015. It has raised the number of determined corporate investors into the cluster to 67.

Fabio Gallina, the firm’s chief executive officer, signed a memorandum of understanding on investment with Kim Kyung-mee, director in charge of the project at the Ministry of Agriculture, Food and Rural Affairs, on the sideline of an international conference on the cluster at the Grand Hyatt Hotel in Seoul, Wednesday.

The government has hired three international business consulting firms — A.T. Kearney, PricewaterhouseCoopers and KPMG — to attract more than 160 corporate investors, including 30 from overseas, into the complex.

Many investors expressed high expectations for the project. “We are excited for the future of Foodpolis,” said NIZO Food Research from the Netherlands in a message. “The incredible progress made by Korea in other technical fields is well known and we expect that this initiative will be backed by the same dedication and energy.”

Chinese food maker Shanghai TDI Food & Beverage said the cluster will help broaden the firm’s portfolio and strengthen its position in the Chinese market. “We plan to develop and produce ginseng-based beverages in collaboration with a Korean company,” the firm said.

Jalux of Japan said the firm had made a decision to join the complex without hesitation since it “strongly trusts the safety and quality” of Korean agricultural products.