Yeongju City and Korea Fine FT Sign KRW 30 Billion Agreement for Health Food Factory Construction
Yeongju City has signed a KRW 30 billion agreement with Korea Fine FT to construct a health functional food manufacturing plant in Punggi-eup, set to create 200 jobs between 2026 and 2030. The project involves relocating and expanding existing operations from Pyeongtaek, aiming to boost the local food manufacturing industry and support agriculture by utilizing local products. This investment is part of Yeongju's strategy to attract investments and counter population decline, alongside recent agreements for a carbon-free power project and a defense industry complex.
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Yeongju City has signed a Memorandum of Understanding with Korea Fine FT to establish a health functional food manufacturing plant. Korea Fine FT will invest KRW 30 billion to set up the factory in Punggi-eup, planning to hire 200 employees from 2026 to 2030.
The new facility will be developed by relocating and expanding the existing operations from Pyeongtaek, Gyeonggi Province. This investment aims to enhance the local food manufacturing industry and support the agricultural sector by increasing the use of local agricultural products.
The project is expected to create permanent jobs, boost related industries, and increase local tax revenue. Yeongju City is focused on attracting investments to counteract population decline, having recently secured agreements for a carbon-free power project and a defense industry complex, further diversifying its industrial base.
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