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According to Yonhap News,
North Jeolla Province (Jeonbuk) and Iksan City inked an investment agreement with Bio genomics Inc. (BGI), a Japan-based functional food company.
Under the agreement, BGI will invest in Iksan National Food Cluster to build manufacturing facilities and a research center in 2013 or 2014.
Founded in 1992, the company conducts research on functional food using lactic acid bacteria and effective microorganism.
Recently, BGI teams up with Nagasaki International University and Kyushu Bio Cluster Association to conduct a joint study including animal experimentation.
"We are seeing our long-term investment attraction activities lead to visible economic effects," said an Iksan official. "In next year when the construction of the national food cluster is almost completed, we are expecting more investments from companies."