Foxconn has signed an agreement to jointly develop Wisconsin's ginseng industry and grow its newly-established Wisconsin-based brand.
The Taiwan-based company announced the deal Tuesday. Gov. Scott Walker joined with representatives of Foxconn and others for the signing of the deal in Wausau.
Foxconn Health Technology Business Group signed the agreement with the Ginseng Board of Wisconsin and the largest supplier of American ginseng in the United States.
The deal is to jointly develop Wisconsin's ginseng industry and grow Foxconn's ginseng brand, Hong Seng.
Foxconn says the agreement will bring together its high-end inspection technology and production capabilities to support holistic development of the American ginseng market.
Foxconn says it will also work with the University of Wisconsin Carbone Cancer Center to promote the study of American ginseng's health benefits, including in cancer prevention and treatment.