According to Yonhap News,

(SEJONG=Yonhap News) Qiao Ma Ma, a Chinese food company, will move into Korea’s National Food Cluster in Iksan, North Jeolla Province. Construction of the cluster will be completed by the second half of 2016.

The Ministry of Agriculture, Food and Rural Affairs announced February 11 that Qiao Ma Ma submitted a foreign investment notification form on February 10 to the KOTRA Shanghai Office to move into the National Food Cluster in Korea.

The foreign investment notification is the fifth following those of Wellspring and Hampton Grains of the United States, Weihai Ziguang Biological Technology Development of China and Goldrock International of Kenya.

Qiao Ma Ma has expressed its intention to invest KRW 5.1 billion (USD 4.65 million) in a food manufacturing plant on 33,000 ㎡ of land, which can hire 100 new workers.

Qiao Ma Ma, which was established in 2009, produces fruit puddings and jellos with natural fruit juice and walnut drinks. It is a rapidly growing food company in China, with sales reaching KRW 120 billion in just five years.

"We will enhance our brand value by producing high-quality food products with Korea’s excellent agricultural goods and technology," said the CEO of Qiao Ma Ma.

"We plan to import Korean agricultural products, which will be sold in some of the major cities in China through the installation of pop-up stores under the name I ♡ Seoul," he added.

jaehong@yna.co.kr

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Source Text

Source: Yonhap News (February. 14, 2015)

** This article was translated from the Korean.