Shortcut to Body Shortcut to main menu

Investment News

  • Home
  • About Us
  • Newsroom
  • Investment News
Incheon Breaks Ground for Food Industry Cluster

According to Yonhap News,

(INCHEON=Yonhap News) The groundbreaking ceremony for I-Food Park, the first food industry cluster in the capital area, took place on December 13 at the project site in Geumgok-dong, Seo-gu, Incheon.

The ceremony was attended by some 500 persons, including Incheon mayor Yoo Jeong-bok, Seo-gu district chief Kang Beom-seok, Ministry of Food and Drug Safety's Seoul-Incheon region director Jeon Jong-min, and Incheon Food Complex Development Co. president Lee Hyeon-ho.

A total of KRW 140.2 billion will be spent on building I-Food Park on 261,000 square meters of land across 457 Geumgok-dong by the end of next year.

Food industry clusters have been formed previously, but only on a small scale as part of agro-industry clusters outside the capital area.

When construction completes, some 60 food (kimchi, rice cake, seasoned laver, etc.) manufacturing and processing companies plan to move in.

A space for experienceing food manufacturing processes will also be created, in addition to a food exhibition hall, play-experience zone, and sales facilities.

I-Food Park has gathered much attention even before the construction began, due to its close proximity to the 2nd Ring Expressway's Geomdan Interchange and the Incheon Subway Line No. 2 Wanggil Station, as well as for the leasing rate of about KRW 2.5 million per 3.3 square

Currently, Incheon Food Manufacturing Association member companies have expressed their intent to sign for over 70 percent of the 73 lots available for industrial and support facilities.

I-Food Park was designed to swiftly respond to the changing trends in food consumption and secure food safety upon the signing of the Korea-China Free Trade Agreement.

Incheon expects the cluster to help local food companies make inroads into new domestic and foreign markets, as well as secure competitiveness, create jobs and revitalize the local economy.

Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution 
without permission is prohibited.

Source Text

Source: Yonhap News (Dec. 13, 2017)

** This article was translated from the Korean.
Meta information