Food industry investment secured in Uiseong, Gyeongsangbuk-do, with steady progress toward becoming a food industry hub

【Financial News, Andong = Reporter Kim Jang-wook】Gyeongsangbuk-do Province and Uiseong County have succeeded in attracting investment in the food industry. The province is steadily preparing to become a global center for the food industry.
Gyeongsangbuk-do Province and Uiseong County attracted 45.5 billion won in food industry investment in Cheolpa-ri, Uiseong County. On the 6th, the province and county held the “Future New Growth Industry Vision Proclamation Ceremony” and a ceremony marking the completion of the province’s first specialized food industrial complex at Uiseong Bio Food Valley, and signed memorandums of understanding on investment with two companies.
Yang Geum-hee, Deputy Governor for Economic Affairs of Gyeongsangbuk-do, said, “The Uiseong Future New Growth Industry Vision Proclamation Ceremony will be an important milestone in broadening the horizons of South Korea’s future food industry.” She stressed, “With the completion of the province’s first specialized food industrial complex and the groundbreaking for the Food Tech Research Support Center, we will establish Uiseong as a key test bed for the national food industry and a regional innovation cluster, and do our utmost to help Gyeongsangbuk-do become a global center for the food industry.”
Uiseong Bio Food Valley is a specialized food industry complex covering 225,844 square meters. It will expand the foundation for high-tech food companies to establish operations and serve as a growth hub for the local food industry. A Work-Life Balance Cultural Complex, equipped with 50 dormitory rooms, was also established to improve living conditions for employees of companies located there.
Uiseong County was designated a regulatory-free special zone for cell-cultured foods in 2024. Uiseong Bio Food Valley uses the foundation provided by this special zone to support companies’ technology development and demonstration. A groundbreaking ceremony was also held for the Cell-Cultured Food Tech Research Support Center, with a total project budget of 14.5 billion won.
The investment memorandums of understanding were also signed by the province and Uiseong County with SeaWith Co., Ltd. and O'grae Agricultural Corporation Co., Ltd. The two companies plan to invest a total of 45.5 billion won and hire 83 new employees.
The province and Uiseong County plan to strengthen administrative support for business investment and build an industrial foundation linking research and development, production, and commercialization, to create local jobs and revitalize the economy.

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