As K-food's global competitiveness continues to grow, Ottogi Ramen will invest 200 billion won to build an export-oriented production line in Gumi, North Gyeongsang Province.
The city of Gumi will sign a memorandum of understanding (MOU) on the investment with Ottogi Ramen at Gumi City Hall on the afternoon of the 13th, according to the city.
Under the agreement, Ottogi Ramen will build a new plant to produce export products on the former Hyosung TNS site in the Gumi National Industrial Complex No. 2 by 2029, creating about 120 new jobs.
The city will provide customized administrative support to ensure the investment proceeds smoothly.
Ottogi Ramen is one of Korea's leading ramen manufacturers, having secured stable brand power and high consumer loyalty centered on its flagship product, "Jin Ramen."
As of last year, ramen exports surpassed 1.5 billion dollars, rising 21.9 percent from the previous year.
Amid this trend, Ottogi Ramen chose Gumi as its investment site for a production facility to respond to global exports, taking into account the city's excellent industrial infrastructure and logistics competitiveness, according to reports.
"We will make every effort so that Gumi can move beyond being the 'birthplace of the ramen festival' and reinvent itself as a food industry cluster," Gumi Mayor Kim Jang-ho said.
