South Korea Amplifies Agritech Investment for Future Farming
Seoul, Tuesday, 4 February 2025.
The South Korean government prioritizes agritech investments to enhance crop efficiency and sustainability, positioning itself as a leader in tech-driven agriculture.
Strategic Investment in Agricultural Innovation
The South Korean government is launching significant agricultural modernization initiatives in 2025, focusing on precision farming and smart agriculture technologies [1]. This strategic push comes amid heightened food security concerns stemming from global supply chain disruptions [1]. A key component of this initiative is the newly announced Scale-up Support Program, which offers up to 500 million KRW per company to innovative agri-food ventures [2].
Addressing Current Agricultural Challenges
The modernization effort aims to tackle several pressing issues in South Korea’s agricultural sector. Production costs have risen significantly, with rice production expenses reaching 8,544,610 KRW per hectare in 2024, marking a 7.9% increase from the previous year [1]. The country is also working to improve its food self-sufficiency, with specific targets for soybean production aiming to increase from 26.7% to 33% by 2025, and further to 45% by 2030 [1].
Innovation Through Public-Private Partnership
The government’s approach includes collaboration with private sector investors and technology companies. Through the Korea Agricultural Technology Promotion Agency, the government is actively supporting agri-food startups and ventures [2][4]. Additionally, venture capital firms like Stallion Partners are focusing investments on AI and robotics technologies that can be applied to agricultural innovation [3], demonstrating a coordinated effort between public and private sectors to modernize farming practices.
Environmental and Economic Impact
The implementation of the Pesticide Residue Management System (PLS) for ginseng cultivation in 2024 [1] exemplifies South Korea’s commitment to sustainable farming practices. This initiative, combined with the country’s first-ever achievement of agricultural product exports exceeding $10 billion [1], shows how technological advancement is being balanced with environmental responsibility and economic growth.