FOODPOLIS and Iksan City, in North Jeolla Province (Jeonbuk), signed an investment memorandum of understaning (MOU) in early July with LogisALL, a comprehensive logistics service provider.

Under the MOU, LogisALL will establish a 33,000 square meter-logistics support facility and logistics research institute at Iksan's FOODPOLIS, a government-led 553.5 billion won ($487.966 million) project to develop an export-oriented food industrial complex by the same name. The 2.32 million square meter facility will include about 150 food-related companies, research institutes and universities and be completed by 2015.

Source Text

Source: Yonhap News (Jul. 5, 2012)

** This is the translation of a Korean article.