SEOUL, Jan. 13 (Korea Bizwire) — South Korea’s ICT ministry said Wednesday it will invest 386.7 billion won (US$353.3 million) to develop smart farms over the next seven years as part of the country’s efforts to introduce new technology to the agriculture sector.
The Ministry of Science and ICT said it launched a foundation to research and test next-generation smart farm technology, such as big data and artificial intelligence, to develop automated farms with improved productivity and produce quality.
The foundation, jointly operated by the Ministry of Agriculture, Food and Rural Affairs and the Rural Development Administration, seeks to boost current smart farm technology, such as remote farm climate control.
The ICT ministry added that it aims to export the smart farm model to other markets.
The smart farm project will use 333.3 billion won in state funds and 53.4 billion won from the private sector.