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Biz News Korea(Eng)
Food cos from Korea, Mexico, Canada to jointly invest $32mn in Busan
- Collected
- 2017.11.30
- Distributed
- 2017.12.01
- Source
- Go Direct
The three companies on Wednesday signed a memorandum of understanding to construct a logistics center and manufacturing facility in the Busan-Jinhae Free Economic Zone (BJFEZ) in South Gyeongsang Province.
Highland Foods boasting annual sales of 320 billion won is Korea’s second largest livestock products supplier. Bananas De Mexico is Mexico’s biggest banana producer and exporter, and Sure Good Foods is dealing with imports and exports of food products in Canada. Highland Foods will invest 23 billion won and the two foreign firms will contribute the rest 12 billion won together to build a logistics center and food producing facility on an area of 66,000 square meters at near Busan New Port.
The joint venture expects the investment would create more than 100 jobs in the area because the facility will be in charge of producing, processing and packaging of food products that will be shipped across Asia including Japan, China and Hong Kong.
By Park Dong-min and Choi Mira
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