Korea Relies on Imports for More Than 90% of Major Grains… Food Security Index Lower than Japan and China

Published 2024년 8월 27일

Tridge summary

The Korea Economic Association (KECA) emphasizes the need for Korea to prioritize food security as a core national security issue due to its heavy reliance on grain imports. Despite having the 14th largest global GDP, Korea depends on imports for over 90% of its major grains. The country's ranking in the World Food Security Index has remained low, with Korea being outranked by Japan and China. KECA recommends strengthening legislation, establishing overseas grain distribution networks, and developing stockpiling measures to improve food security. The head of the Korea Economic Research Institute has called for active support of leading companies to ensure a stable food supply and to actively secure and stockpile overseas grain supply chains.

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Original content

(Seoul = Yonhap News) Reporter Lim Seong-ho = It has been argued that 'food security' should be treated as a core national security task, not a simple economic issue. In the 'New Industry Proposal Series' data released on the 27th, the Korea Economic Association (KECA) pointed out that although Korea ranked 14th in the world in terms of gross domestic product (GDP) last year, it relies on imports for more than 90% of major grains such as corn, wheat, and soybeans. In addition, in the World Food Security Index, which the 'Economist Intelligence Unit' (EIU) comprehensively evaluates each country's food supply capacity and food safety, Korea was ranked behind Japan and China. From 2012 to 2022, Korea ranked between 37th and 44th, but Japan maintained its position within the top 10. China's ranking soared from 49th to 25th during the same period. According to the ranking of the detailed evaluation indicators of the Food Security Index as of 2022, Korea ranked lower than Japan and ...

Source: Yna