Dutch Green Bio Company to Build Insect Protein Production Facility in Korea

Jung In-gyo, Head of Trade Headquarters, Expands Trade and Investment Activities in Europe

A Dutch green bio company has decided to establish a manufacturing facility in Korea.

The Ministry of Trade, Industry and Energy announced on the 3rd that Jeong In-gyo, the head of the Trade Negotiation Headquarters, discussed the investment of Dutch global green bio company A during his visit to the Netherlands and France to attend the OECD Ministerial Council.

Dutch green bio company A has decided to establish a domestic manufacturing facility and reported an investment in an insect protein production facility on the 1st.

Head Jeong said, "We expect that investment cooperation with company A will play an important role in making Korea's green bio industry a future growth industry," adding, "It will also greatly contribute to our economy through regional job creation and exports."

Jung In-kyo, Director General of Trade Negotiations, Ministry of Industry. (File photo)

Along with this, Head Jeong held meetings in Paris, France with NXP, Renault, Airbus, and others to review the progress of ongoing investments and discuss ways to enhance cooperation with them. He requested investments in a vehicle semiconductor research and development (R&D) center and an electric vehicle production facility from the management of NXP and Renault respectively, carrying out activities to attract advanced foreign investment.

Head Jeong also met with Korean companies operating locally in Paris to discuss company-specific marketing strategies targeting the global audience and export support measures by institutions in light of the upcoming Paris Olympics (July 26 to August 11) this summer. The government will also do its best to support Korean companies’ overseas market entry and accelerate export growth momentum through establishing an integrated Korea Pavilion for the Olympics, supporting corporate marketing linked to Hallyu, and holding export consultation meetings connected with K-pop.

He then visited the Darty store, France’s largest home appliance distribution channel, to check the status of Korean home appliance companies’ market entry. At the site, Head Jeong said, "The Olympics is a golden opportunity to firmly expose Korean companies and brands, and I hope the competitiveness of K-home appliances will be recognized worldwide once again through this Olympics," emphasizing, "We will provide full support as a public-private one team to expand the global market entry of our premium consumer goods such as home appliances, automobiles, cosmetics, and food."