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 [...]
SEJONG, Feb. 28 (Korea Bizwire) – Lobster imports have been setting yearly records since 2012, reaching the highest US$94 million last year, the Korea Customs Service said Tuesday. Last year’s imports was a 13.7 percent increase from the previous year. In volume, last year’s imports amounted to 4,500 tons, up 17.1 percent from the year [...]
SEOUL, Feb. 27 (Korea Bizwire) – South Korea’s per capita rice consumption is forecast to hit a new low in 2017 due to people’s changing eating habits, a report showed Monday. The average annual consumption of rice per person is likely to reach 59.6 kilograms this year, compared with 61.9 kg a year earlier, according [...]
SEOUL, Feb. 23 (Korea Bizwire) – A recent report from the Korea Rural Economic Institute estimated that South Korea’s anti-corruption law will cause a drop in agricultural and livestock production of over 300 billion won ($263.76 million) this year, as the legislation forbids millions of journalists, public officials and educators from receiving gifts worth more [...]
SEJONG, Feb. 23 (Korea Bizwire) – South Korea’s seafood imports rose for the third straight year in 2016 on rising demand for healthier food and ingredients, government data showed Thursday. The total value of imported seafood reached US$4.79 billion in 2016, up 5.2 percent from a year earlier, according to the data compiled by the [...]
SEOUL, Feb. 20 (Korea Bizwire) – Following criticism of recurrent foot-and-mouth disease outbreaks in South Korea, the Ministry of Agriculture, Food and Rural Affairs announced Sunday that it will introduce a pilot project for a mutual aid system that will function much like a health insurance policy for cattle. The “premiums” will be split fifty-fifty [...]
SEOUL, Feb. 15 (Korea Bizwire) – The import of Norwegian seafood in South Korea surged last year due largely to increased demand for mackerel, a report said Wednesday. The inbound shipments of seafood from Norway reached 292.8 billion won (US$256.6 million) in 2016, up 73 percent from the previous year, according to the Norwegian Seafood [...]
SEOUL, Feb. 13 (Korea Bizwire) – South Koreans were found to be the top seafood consumers among 24 countries with high demand for the products, a report showed Monday. Statistics contained in “The State of World Fisheries and Aquaculture” from the Food and Agriculture Organization (FAO) showed that South Koreans consumed an average 58.4 kilograms [...]
SEOUL, Feb. 6 (Korea Bizwire) – South Korea’s offshore fisheries output sank to a 44-year low in 2016 due to tumbling fish stocks caused by a combination of Chinese illegal fishing, climate change and overfishing, a report showed Monday. The country’s inshore and offshore fisheries production came to 923,000 tons last year, down 12.7 percent [...]