[Editorial] Concerns Over Soybean Overproduction, Urgent Measures Needed

As expected, concerns are rising about oversupply with the significant increase in soybean cultivation area. According to the Korea Rural Economic Institute's July soybean outlook, this year's soybean cultivation area has increased by 12.3% compared to the previous year, reaching 83,133 hectares. Among this, paddy field soybean cultivation area has surged by an astounding 46.7%. This is due to the government's expanded strategic crop direct payment policy and participation in rice cultivation area adjustment policies. Upland soybean cultivation area decreased by 2.7% compared to the previous year due to crop conversion and deteriorating profitability. Given that paddy field soybeans have higher production yields than upland soybeans, an increase in soybean production this year is inevitable. The government's full-scale efforts to reduce rice cultivation area by 80,000 hectares this year to stabilize rice prices made this soybean cultivation area increase predictable. Local ...