In 2024, Korea has received 18 smart-farm construction orders from 12 countries, up from 11 in 2023
Korea’s Ministry of Agriculture, Food and Rural Affairs (MAFRA) held a meeting with smart-farm export companies, related government agencies, and business associations, with regard to the current status of the exports of Korean smart farms to the Middle East and the construction orders from the region, as well as an export plan for the year 2025.
The construction orders of smart farms from overseas countries, including the Middle East, increased by 60% in 2024 from the previous year, and the countries of placing such orders were more diversified from the previous year.
Reaching a final contract on the export and construction of smart farms requires discussions between contractual parties about multiple issues, such as procurement of equipment and operation of a smart farm, over a long course of time. If such prolonged signing of the contracts valued at $166 million is finalized, then the outcomes of exports and construction orders of smart farms for the year 2025 are forecast to exceed those of 2024.
Accordingly, the MAFRA listened to the voices of smart-farm export companies about their challenges and discussed the ways to support them with related government agencies and business associations to ensure that such prolonged contract signing can be finalized at the earliest possible time.
Meanwhile, Korea Association of Smart-Farm Industry (KASFI) and the Korea-Saudi Arabia Industrial and Trade Association (KOSAA) singed a Memorandum of Understanding (MoU) on support for K-smart farms’ entry into the Middle East.
Director-General KIM Jung Wook of the MAFRA’s Agri-food Innovation Policy Bureau said: “The government and companies worked together as a one team. As a result, K-smart farms were exported to the Middle East, and Korean companies were able to receive multiple construction orders from the region. And K-smart farms have strengthened their presence in the regional market.”
Director-General Kim added: “The MAFRA will cooperate more actively with the industry to ensure that Korean smart-farm companies can expand their share in the Middle Eastern market. We will also provide an all-out support for the industry to ensure that the prolonged signing of smart-farm contracts can lead to real outcomes.”
