January 19, 2011

South Korea to spend US$4 billion to widen organic farming

South Korea will invest KRW4.46 trillion (US$4 billion) up until 2015 to further spread out the country's eco-friendly farming infrastructure, the government said Tuesday (Jan 18).

The Ministry for Food, Agriculture, Forestry and Fisheries said its third five-year green farming development plan aims to increase the size of the local organic food industry fourfold so it can become a KRW2 trillion (US$1.80 billion) market in the next five years from a little over KRW550 billion (US$494.49 billion) in 2010.

The plan also calls for a steady increase in crops raised without the use of agricultural chemicals and cut backs on the use of chemical fertilisers by 3% every year in the 2011-2015 period.

"The goal is to increase the size of paddies and fields that do not use farm chemicals from 4.9% of all arable land in 2009 to 12% in five year's time," the ministry said.

Such a move can improve consumer confidence in locally grown food, raise the overall competitiveness of the local agriculture sector vis-a-vis imports and bolster higher earning levels for farmers.

To facilitate the transition to a "green farming" environment, the government will create up to 50 new eco-friendly farming regions across the country, and upgrade the distribution and sales systems so consumers will know that the products they are buying have been grown without the use of chemicals and pesticides.

Reflecting the government's role in creating an environment conducive for eco-friendly farming, 60% of the budget to be spent during the new five-year plan will go into infrastructure building.

South Korea began to systematically promote green farming on a national level in 2001. It has since been able to meet such goals as producing 10% of all locally grown fruits, vegetables and grain using eco-friendly methods in 2008, ahead of schedule.