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Jecheon-si and Gikuin company signed KRW25bln investment agreement in the 3rd Industrial Complex

According to Newsis,

Gikuin Company, a producer of plant-based meat (substitute meat) 'UNLIMEAT', will build a production line in the 3rd industrial complex in Jecheon, Chungbuk-do.

Jecheon's mayor and Gikuin Company CEO signed an investment agreement at Jecheon City Hall on August 20 to invest KRW 25 billion by the first half of next year.

The company plans to build a food manufacturing facility on the area of 8,910 square meters in the third industrial complex. The city explained that the company is to hire about 130 new employees when it goes into operation within next year.

Gikuin company, which is leading the domestic alternative meat market by developing UNLIMEAT for plant-based meat, is a food tech startup established in 2017. The company is expanding its market beyond the domestic market to other countries including the United States.

At the investment agreement ceremony, Jecheon's mayor said, "we expect the plant-based alternative meat market that put emphasis on the environment and health will become a key food industry of the future," adding "we will spare no effort to support Gikuin Company so that it can grow into a global food company."

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Source: Newsis (August 20, 2021)

** This article was translated from Korean.