Korean agriculture plans to focus on smart solutions
21.06.2024 / 06:00 | Aktualizováno: 24.06.2024 / 06:05
In mid-June, major players in the agriculture and livestock industry from around the world gathered in Ilsan, South Korea. The annual KFarm Fair, this year under the theme "Agriculture is the Future", attracted over 80 companies from 12 countries and clearly demonstrated the direction in which South Korean agriculture plans to focus now and in the years to come.
The global smart agriculture market size was estimated at USD 11.8 billion in 2020 and is expected to grow at an average annual growth rate of 18.4% to USD 32.4 billion by 2026, mainly driven by technological advancements in artificial intelligence, IoT, satellite telemetry and cloud. The Korean administration is also actively promoting this issue and aims to make its agriculture less affected by climate change, more productive, safer and more competitive through a shift to higher value-added production. The domestic smart agriculture market is estimated to be worth approximately $289 million in 2023. USD. For example, the government also plans to expand smart greenhouses, which accounted for around 14% in 2023, to over 30% by 2027, and to increase the number of specialised smart farming enterprises from 23 in 2021 to 100 in 2027. The government also aims to achieve exports of smart farm products of $800 million by 2027. USD 800 MILLION. There are a large number of players in this field in Korea, but the most important ones include Gooli (rotating plant farm), Angel Robotics (wearable robot), AFI (agricultural drone), Clatform (container smart farm) or LS Mtron (autonomous tractor). These are also directions where Czech companies can look for new opportunities.
81 companies from 12 countries presented their latest products and services in 200 stands to almost 40,000 visitors at this year's KFarm fair, whose motto this time was "Agriculture is the Future" and the main theme was the shape of this segment in the years to come. Among the main attractions for visitors were automatic harvesting robots based on artificial intelligence and wirelessly adjustable harvesting robots. The parallel "Agricultural Technology Forum 2024" then focused on the topic of sustainable agriculture in the era of climate change.
Further important information on this sector of the Korean market can be obtained from the links below:
1. Kfarm: https://kfarm.co.kr/
2. Ministry of Agriculture, Food and Rural Affairs: https://www.mafra.go.kr/english/index..do
3. Rural Development Administration: https://rda.go.kr/foreign/ten2/
KFarm 2024
Interested Czech companies can contact the Commercial Department of the Czech Embassy in Seoul at: seoul.commerce@mzv.gov.cz.
Jakub Kopecký, economic specialist of the Czech Embassy Seoul