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Gyeongsangbuk-do, Sangju-si attracted Hamchang Industrial Complex of tapioca food ingredients company
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Gyeongsangbuk-do and Sangju-si plan to make the Hamchang Industrial Complex as a hub for future food by attracting 12 billion won of food ingredients for the production of tapioca* for beverages.

* Tapioca: Made by cutting and squeezing the roots of tropical herb Cassava, removing its juice and grinding the remaining fiber

Aro 20 people attended, including Lee Chul-Woo, the Governor, Hwang Cheon-Mo the Mayor of Sangju-si, Yudong, the Chairman of BODUOGROUP of China, Jeong Seok-Dong, the C.E.O of Han Mi Rae Food Co., Ltd., and members of the Provincial Assembly to conclude the Memorandum of erstanding for establishing a food ingredient company for the production of tapioca.

The investment agreement is signed with China BODUOGROUP, located in Zhejiang of Hangzhou, China, in collaboration with Han Mi Rae Food Co., Ltd., headquartered in Sangju of Hamchang*. It plans to invest 120 billion won for 2 years until 2020 to establish a food ingredient factory to produce tapiocas and create 120 regional jobs.

* Investment scale is 12 billion won (FDI 8 million dollars) - BODUOGROUP 70%, Han Mi Rae Food 30%

BODUOGROUP of China is located in Zhejiang of Hangzhou and it is the 108th best company in China ed by CCTV in 2016. Major industries are the food service franchise and there are 20 brands operated in China. As of the end of 2018, the company has been a blue chip with a sales record of 1.2 trillion won and more than 3,000 employees.

Han Mi Rae Food Co., Ltd. is the export specialized company in the production of seasoned laver. Through the establishment of the company in May 2013, the factory in Hamchang Industrial Complex was completed in July of the same year. In July 2014, China export license was acquired and all kinds of seasoned laver are exported to China and Taiwan, by entering almost 1,200 discount stores in China. In December of 2018, it achieved a top 10 million dollar export, becoming a devoted food company locally.

As a joint venture, the 2 companies will establish a tapioca production plant by 2020 and deliver them to domestic beverage franchise companies for food ingredients and also export them to Japan and Southeast Asia.

Lee Chul-woo, the Governor of Gyeongsangbuk-do said, “Tapiocas will contribute to securing the competitiveness of the food industry with raw materials such as milk tea, which are steadily increasing in demand in the global market,” and added, “we will concentrate all our ability to create a good corporate environment so that we could ensure success of your investment in Gyeongbuk.”
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