Jeong Hwang-geun "Steep Growth in Agricultural Machinery Exports... Will Diversify Support"

K-Food+ Export Promotion Headquarters Agricultural Machinery Sector Meeting

Jeong Hwang-geun, Minister of Agriculture, Food and Rural Affairs, stated on the 21st that "recent agricultural machinery exports have shown a steep growth trend, making agricultural machinery an important industry with a bright export outlook."

On the same day, Minister Jeong held a meeting on the agricultural machinery sector of the 'K-Food Plus (K-Food+)' Export Expansion Promotion Headquarters at the Korea Agricultural Machinery Industry Cooperative in Chungnam and made these remarks.

The government has expanded support for agricultural machinery production and purchase funds from 200 billion won to 300 billion won starting this year. Additionally, it secured 2.2 trillion won in new growth policy funds at the pan-government level and included the agricultural machinery sector in the 3 trillion won innovation growth fund investment targets.

Furthermore, the Ministry of Agriculture, Food and Rural Affairs increased the R&D budget for advanced agricultural machinery such as autonomous driving, which will lead smart agriculture, from 11.1 billion won to 14.8 billion won, and plans to promote a used agricultural machinery official development assistance (ODA) support project to pioneer new markets.

Minister Jeong Hwang-geun of the Ministry of Agriculture, Food and Rural Affairs is speaking at the agricultural machinery sector meeting of the K-Food+ Export Expansion Promotion Headquarters on the 21st.

This on-site meeting was the first agricultural machinery sector meeting held since the launch of the K-Food+ Export Expansion Promotion Headquarters in January. It was attended by agricultural machinery export companies such as Daedong Co., Ltd., TYM, LS Mtron, Gint, Helper Robotech, and Jangja Automation, as well as related organizations including the Korea Institute of Machinery and Materials, the Korean Society of Agricultural Machinery, and the Rural Development Administration. K-Food+ signifies encompassing Korean agricultural food and the entire agricultural upstream and downstream industries.

The government aims to achieve K-Food+ export sales of 13.5 billion dollars this year. Minister Jeong said, "Despite difficult conditions last year, the total export amount in the agricultural sector, including agricultural food and agricultural materials, was 11.8 billion dollars, about a 5% increase from 11.2 billion dollars the previous year," adding, "The government is committed to exports and will support export expansion in the global market."