Wheat, soybean, corn, oil palm, and cassava were selected as strategic items in South Korea

Published 2023년 5월 4일

Tridge summary

The government of this unspecified country has announced a five-year plan for the expansion of overseas agricultural resources, aiming to increase the import of key agricultural products from the current 2.08 million tons in 2021 to 6 million tons in 2027. The plan includes securing a stable supply chain for grains and other agricultural products, diversifying the areas for agricultural resource development, and providing customized support to companies engaging in overseas agriculture. The government also aims to smooth the process of bringing agricultural products from abroad into the country in case of an emergency and review various financial support methods for large-scale investment in overseas agriculture.

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

Original content

The government recently announced the “4th Overseas Agricultural Resources Development Comprehensive Plan,” which will be promoted for five years from this year. Overseas agricultural resource development is a project to develop overseas agricultural production and distribution resources so that grains can be imported from other countries in case of emergency. It is mainly promoted by the government lending and subsidizing private development. The Minister of Agriculture, Food and Rural Affairs has been establishing a comprehensive plan for overseas agricultural resource development every five years since 2009 in accordance with the ‘Overseas Agricultural and Forest Resources Development Cooperation Act’. The Ministry of Agriculture, Food and Rural Affairs plans to focus on securing a stable overseas supply chain for major grains and agricultural products that are highly dependent on imports over the next five years, and strengthening the ability to import them into Korea. As part ...

Source: Nongmin