March 3, 2008

South Korea to see influx of GMO food on high grain prices

South Korea is projected to see more food produced from genetically modified organisms (GMO) as the government tries to swerve away from record global crop prices.

Consumers expressed unease over the impending possibility, though importers assured there are no safety problems with genetically modified foods.

Large quantities of genetically altered US corn will be imported, and corn starch and sugar products made from it will be sold in the market.

Producers look on importing more GMO corn as there is a local shortage of the natural corn.

Analysts said the distribution of genetically engineered corn starch in the market signal rapid proliferation of genetically modified organism in foods consumers buy.

Major Korean companies that have announced the need to import genetically modified corn include Daesang, Samyang Genex, CPK, and ShinDongBang CP, accounting for 90 percent of the domestic market.

Meanwhile, the Korea Food and Drug Administration has designated crops such as soy, corn and bean sprouts and 31 foods made with them subject to GMO labeling.

However, the products will be exempted from GMO labeling if they contain less than 3 percent amount of GMO substance or if their final products carry no GMO DNA or protein.

An executive with the Korean starch industry association assured that there is no need to worry as Korea will limit imports to only 23 GMO corn varieties which the US has ensured to be safe.