The Korea National Food Cluster, or Foodopolis, will be built in Iksan, South Korea, and open by June 2016. It will be the site of R&D for about 150 food companies. The center is expected to create 22,000 jobs and generate $14 billion in processed and value-added products each year. Three R&D facilities are planned: the Food Functionality Assessment Center, the Food Quality Safety Center and the Food Packaging Center. The Ministry of Food, Agriculture and Rural Affairs will invest $500 million in building the facility. The Ministry reported plans to develop 20 or more “star” products by 2020, using advanced biotechnologies and nanotechnologies. Ingredients of focus include fruits, vegetables, ginseng, kimchi and rice. The functional foods produced will be targeted to Korea and other Asian countries. The Ministry aims to increase the investment of Korea’s food industry in R&D from 0.57% of revenue as well as to increase the number of researchers at food companies.

Source: The Korea Times