November 7, 2007

South Korea to invest on pig and poultry business in N. Korea

South and North Korea agreed to a joint operation of  a hog farm in Pyongyang under a two-year trial in the hope of alleviating the North's chronic food shortages.

Park Won-jae, spokesman of South Korea's Unification Ministry in Seoul, said that details such as the  opening date  is still subject to  further discussions.

South Korea has agreed to provide hogs, equipment and feeds while the North will provide the land, electricity, water and labour. The farm is estimated to breed a total of 5,000 hogs.

Meanwhile, South Korea's second-largest chicken processing company, Maniker Co., also expressed its plans to establish a chicken farm in the North this year.

Construction will start later this year and will be operational by early 2008, according to Choi Young-sam, spokesman for Maniker Co.