South Korea is securing 6 million tons of 5 items including wheat and soybeans overseas by 2027

Published 2023년 5월 3일

Tridge summary

South Korea's government has launched the '2023-2027 4th Overseas Agricultural Resource Development Comprehensive Plan' to secure 6 million tons of five strategic agricultural items by 2027. These items include wheat, soybean, corn, oil palm, and cassava. The initiative aims to support the expansion of the private sector globally and prepare for emergencies such as international food crises. The government will prioritize companies dealing with these strategic items for overseas expansion support projects and diversify its agricultural resource development destinations. The plan also aims to include processed agricultural products and food in the scope of overseas agricultural resources.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(Seoul = Yonhap News) Correspondent Shin Seon-mi = The government will secure 6 million tons of five items from abroad by 2027 to stably supply major agricultural products: wheat, soybean, corn, oil palm (edible oil), and cassava (starch). I decided to do it. On the 3rd, the Ministry of Agriculture, Food and Rural Affairs announced the ‘2023-2027 4th Overseas Agricultural Resource Development Comprehensive Plan’ with these contents. The Overseas Agricultural Resources Development Comprehensive Plan is a mid- to long-term plan to support private sector overseas expansion and to prepare for emergencies such as international food crises. The Ministry of Agriculture, Food and Rural Affairs selected five items, namely wheat, soybean, corn, oil palm, and cassava, as strategic items to be targeted for intensive support in consideration of their dependence on foreign imports, supply conditions, and impact on domestic prices. The Ministry of Agriculture, Food and Rural Affairs decided to ...

Source: Yna