JEOLLABUK-DO < invest Korea

(JEONJU = Newsis) Jeollabuk-do announced on January 30 that it will invest a total of KRW 700 million to develop high value-added food products by using locally-produced agro-fishery products.

The project mainly focuses on encouraging food companies, which possess high quality resources and business items but lack of research and development (R&D) capabilities, to develop high value-added food products by providing one-stop service in product planning, R&D, product design and marketing process.

In particular, food companies in the province signed various cooperative agreements with the region’s 14 research institutes and universities to utilize their high technologies and knowledge in a bid to increase the possibility of success in their businesses.

“The province plans to help local food companies maximize their profits. To this end, the province aims to develop differentiated strategic food products and create new and sustainable demands and markets.

Meanwhile, the province invested a total of KRW 1.9 billion in 52 businesses for the last three years and helped them achieving 84 new products, 59 patent applications and 25 academic journals.

uh0820@newsis.com

Source Text

Source: Newsis (Jan. 30, 2014)

** This article was translated from the Korean.