SEOUL, May 16 (Korea Bizwire) – A South Korean importer has been arrested for selling American lobsters under a Canadian label for two and a half years, the South Regional Headquarters of the Korea Coast Guard said Tuesday. The importer, identified only as 53-year-old Kim, is accused of importing 18 tons of American lobsters worth [...]
SEOUL, May 8 (Korea Bizwire) – Data from the Korea Rural Economic Institute has revealed that South Korea had an annual average of 280,000 tons of excess rice supply over the past decade (2007 to 2016), a yearly surplus large enough to feed the 600,000-strong South Korean military for eight years. According to the institute, [...]
SEOUL, May 4 (Korea Bizwire) – Last week, Nguyen Xuan Cuong, Vietnam’s Minister of Agriculture and Rural Development, rushed to a Samsung Electronics plant in Bac Ninh requesting that the South Korean company boost its purchases of pork amid a supply glut that has been destabilizing the local market. Cuong has become anxious over plummeting [...]
CHUNGJU, South Korea, April 24 (Korea Bizwire) – Chungju, North Chungcheong Province, is making optimistic progress with its smart farm initiatives. The city launched the project in 2015 by equipping a laboratory at the local Agricultural Technology Center with ubiquitous information technology (u-IT). The horticulture lab, used mainly for plant research and production, can monitor [...]
SEOUL, April 14 (Korea Bizwire) – The government said Friday it will release 6,700 tons of its fisheries stock starting next week to keep prices under control during the fishing prohibition period. The prohibition period began April 1 and will continue to Aug. 11, depending on different types of net fishing. Violators are subject to [...]
SEOUL, April 3 (Korea Bizwire) – The local market for mackerel, one of the most popular fish in Korea, is being invaded by fish from Norway with waning catch from local waters. According to Statistics Korea, $20.32 million worth of mackerel (10,789 tons) was imported from the Scandinavian country in January and February, up by [...]
SEOUL, March 21 (Korea Bizwire) – Commodity prices continued to move up in recent weeks amid rising crude oil prices and the outbreak of the avian influenza, industry sources said Tuesday. Consumer prices rose 1.9 percent in February from a year earlier with comparable figures for January standing at 2 percent. The Bank of Korea [...]
JINJU, South Korea, March 17 (Korea Bizwire) – The Foundation of Agricultural Technology Commercialization & Transfer (FACT) is testing a self-developed shipping container maintenance technology that allows for the export of fresh agricultural produce via container ships. According to officials, 614 kilograms of strawberries from Jinju, South Gyeongsang Province, are being shipped off to Singapore [...]
North Chungcheong, SOUTH KOREA, March 13 (Korea Bizwire) — South Korean grape farms are going out of business as they are having difficulty competing with American and Chilean grape exporters following FTA agreements with both countries. In Yeongdong and Okcheon County in North Chungcheong Province, well-known grape-producing districts, nearly a third of the grape farms [...]
SEOUL, March 6 (Korea Bizwire) — Calls are growing for insurance that protects tree owners in the wake of recent incidents of natural disasters. According to Forestry Cooperative in Korea and Korea Forest Service, there’s currently no agricultural disaster insurance coverage in South Korea for tree owners in case of natural disasters such as [...]