25,600 Active Agricultural Corporations... Notable Growth in Crop Cultivation and Agro-Livestock Processing Industries

Results of Agricultural Corporation Survey as of the End of 2021

The number of agricultural corporations with confirmed sales or workers reached 25,605 as of the end of 2021, showing a 4.5% increase compared to the previous year. Crop cultivation and agricultural and livestock product processing industries exhibited rapid growth.

The Ministry of Agriculture, Food and Rural Affairs announced the results of the "2021 Agricultural Corporation Survey" containing this information on the 30th.

The number of active agricultural corporations has been increasing, with 23,315 in 2019 and 24,499 in 2020. As of the end of 2021, among all active agricultural corporations, agricultural companies accounted for 14,268 (55.7%), and farming association corporations accounted for 11,337 (44.3%).

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By business type, crop cultivation increased sharply from 6,687 in 2019 to 7,548 in 2021, a 12.9% rise, and agricultural and livestock product distribution grew from 4,927 to 5,552, a 12.7% increase. Agricultural and livestock product processing, however, only increased by 1.7%, from 7,215 to 7,337 during the same period.

The status of investment in agricultural corporations varied according to organizational form. The average number of investors per corporation was higher in farming association corporations (14.7 persons) than in agricultural companies (6.4 persons), but the average investment amount per corporation was higher in agricultural companies (3.4 billion KRW) than in farming association corporations (2.5 billion KRW).

Total sales of agricultural corporations amounted to 47.7064 trillion KRW, an 11.2% increase compared to the previous year. Sales of farming association corporations were 12.4338 trillion KRW, up 4.5% year-on-year, while sales of agricultural companies were 35.2726 trillion KRW, up 13.7%.

The average sales per corporation were relatively higher for agricultural companies. Agricultural companies averaged 2.266 billion KRW, while farming association corporations averaged 1.238 billion KRW.