ULSAN < invest Korea

According to Yonhap News,

Boksoondoga, a local food company based in Ulsan, will build large-scale factory facilities, including a vertical farm, in Gilcheon Industrial Complex, Ulju-gun.

Ulsan-si and Boksoondoga will sign an MOU on establishment of a vertical farm in Gilcheon Industrial Complex on December 12.

Under the MOU, Boksoondoga will invest KRW 14 billion on a 14,784.5㎡ site adjacent to the existing traditional liquor factory site by 2026 to build an intelligent vertical farm, producing strawberries.

Vertical farms are intelligent farms that grow crops by automatically controlling the temperature, humidity, and production processes in the indoor vertical multi-stage structures.

Vertical farms have been prohibited from installation in industrial complexes before, but it has become possible with the revision of the Enforcement Decree of the Industrial Cluster Act last month.

Then, as Ulsan-si changed the basic plan for the management of Gilcheon General Industrial Complex on December 5,, allowing vertical farms to move in, Boksoondoga decided to make a large-scale investment.

With the MOU, the city expects to revitalize the local economy, including the formation of clusters for local food business and job creation.

jjang23@yna.co.kr

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Source: Yonhap News (December 12, 2024)

** This article was translated from Korean.