SEOUL, May 12 (Korea Bizwire) — Korea’s equestrian industry is growing, as more Koreans are riding or raising horses as a hobby.
According to a report published by the Ministry of Agriculture, Food and Rural Affairs (MAFRA) on May 10, the number of horses raised in Korea in 2014 was 25,819, a 5.5 percent increase from 2013.
Among total horses in Korea in 2014, 35.4 percent were raised for hobby purposes, with 30.4 percent raised as racehorses. The remaining 16.5 percent and 3.5 percent were raised for breeding purposes and food respectively.
The number of equestrian businesses was 1,199, a 9.6 percent increase compared to 2013, while the number of regular horse riders and irregular, tour-based horse riders increased 4.4 percent to 40,596 and 4.3 percent to 771,076 respectively. The number of horse riding facilities also increased 19.3 percent to 395.
The total number of workers in the Korean equestrian industry was 16,091, a 4.4 percent increase from 2013. The industry itself was estimated to be worth 3.209 trillion won (US$ 2.95 billion) at the end of 2013, a 2.2 percent increase from late 2012.
By M. H. Lee(email@example.com)