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Cover Story
Recognizing the importance of fostering the seed
According to the Korea Seed & Variety Service, there
industry, Korea’s Lee Myung-bak government also
were2,466seedcompaniesin2018,astheyweredivided
launchedtheGoldenSeedProject(GSP)in2012tofoster
into small, medium-sized, private seed companies with
it as a future growth industry. The project is to develop
continuous restructuring after multinational companies
strategicseedsbyformingfivebusinessgroups,including
took over and merged top domestic seed companies of
vegetables, horticulture, marine products, and breeding
Korea. The prospects for these Korean seed companies
stock, in order to discover, research and develop seeds
are bright. In the case of the global commercial seed
which are more expensive than gold. Researcher Park
market, seeds for grain and feed are leading the
said,“ThegovernmentenactedtheSeedIndustryActand
market, while Korean seed companies are specialized
established a five-year plan to foster the seed industry
in vegetable seeds; they are also competitive in the
everyfiveyearstopreparepolicysupportmeasures;and
export market due to their distinctiveness. The global
is operating a support system to train professionals to
commercial seed market value is about 60 trillion won
develop new varieties. In addition, we have brought a
($46.92billion)asof2013,with56percentofgrainsand
significanteffectbypromotingtheGSPproject.”
18 percent of oil crops, accounting for about 3/4, and 13
PresidentYoonSuk-yeol,whohasbeenleadingthenew
percentisofvegetableandflowerseeds.
government since May 2022, made clear the importance
According to the results of the 2020 Seed Industry
of food self-sufficiency by saying, “We will increase the
Survey conducted by the Korea Seed & Variety Service
stockpile of basic food such as rice, wheat, barley, and
due to the Seed Industry Act and the Statistics Act of
beans.”Theroadtoseedsovereignty,oneoftheessential
Dec.31,2020,among1,652seedcompaniesinoperation,
elementsoffoodself-sufficiency,isbright.
89 public institutions, including the National Seed
Resources and City Agricultural Technology Center,
domestic seed sales have continued to grow since 2015.
It recorded 500.8 billion won ($391.68 million) in 2015,
KoreanSeedIndustryStartingtoRecover
540.8 billion won ($422.97 million) in 2016, and 591.9
Korean seed companies
billion won ($462.94 million) in 2017. Among the seed
ⓒazseeds
are overcoming the damage
sales, Korean sales amounted to 562.1 billion won
causedbytheIMFcurrency
($439.63 million), accounting for 86.4 percent showing
crisis and other crises one
steadygrowthsince2015.
by one. In 2020, Nongwoo
Bio,aseedcompany,ranked
first with 27 percent of the
KoreaisAlsoDedicatedtoBreedingStockand
▲Domesticseedcompanies
domestic seed market share,
suchasNongwooBiogrow
FisherySeedsDevelopment
rapidly.
recording 55.5 billion won
($43.40million)insales.Italsoachieved$13.6millionin
The seed category does not include only plant seeds.
exportsbysecuring5,000geneticresources.Inaddition,
Researcher Park said, “The seed category includes
Farmhannongseemstoberunningtowardthefiguresof
agricultural, forestry, livestock, and fishery seeds. The
former seed companies which collapsed during the IMF
GSP project was also studied and developed by dividing
currency crisis, with the takeover of some of Monsanto
it into five categories: vegetable seeds, horticultural
Korea'svegetabledivisions.ResearcherParkemphasized,
seeds, food seeds, breeding stock, and fishery seeds.”
“Domestic seed companies such as Nongwoo Bio are
He emphasized that Korea's seed development is not
growing rapidly, and the domestic seed industry is
limited to plant seeds. In the case of breeding stock,
recovering due to the participation of large companies
the government has invested 491.1 billion won ($384.10
suchasDongbuandLG.”
million) in a total of 20 items, including a breeding pig
24
www.theargus.org
Recognizing the importance of fostering the seed
According to the Korea Seed & Variety Service, there
industry, Korea’s Lee Myung-bak government also
were2,466seedcompaniesin2018,astheyweredivided
launchedtheGoldenSeedProject(GSP)in2012tofoster
into small, medium-sized, private seed companies with
it as a future growth industry. The project is to develop
continuous restructuring after multinational companies
strategicseedsbyformingfivebusinessgroups,including
took over and merged top domestic seed companies of
vegetables, horticulture, marine products, and breeding
Korea. The prospects for these Korean seed companies
stock, in order to discover, research and develop seeds
are bright. In the case of the global commercial seed
which are more expensive than gold. Researcher Park
market, seeds for grain and feed are leading the
said,“ThegovernmentenactedtheSeedIndustryActand
market, while Korean seed companies are specialized
established a five-year plan to foster the seed industry
in vegetable seeds; they are also competitive in the
everyfiveyearstopreparepolicysupportmeasures;and
export market due to their distinctiveness. The global
is operating a support system to train professionals to
commercial seed market value is about 60 trillion won
develop new varieties. In addition, we have brought a
($46.92billion)asof2013,with56percentofgrainsand
significanteffectbypromotingtheGSPproject.”
18 percent of oil crops, accounting for about 3/4, and 13
PresidentYoonSuk-yeol,whohasbeenleadingthenew
percentisofvegetableandflowerseeds.
government since May 2022, made clear the importance
According to the results of the 2020 Seed Industry
of food self-sufficiency by saying, “We will increase the
Survey conducted by the Korea Seed & Variety Service
stockpile of basic food such as rice, wheat, barley, and
due to the Seed Industry Act and the Statistics Act of
beans.”Theroadtoseedsovereignty,oneoftheessential
Dec.31,2020,among1,652seedcompaniesinoperation,
elementsoffoodself-sufficiency,isbright.
89 public institutions, including the National Seed
Resources and City Agricultural Technology Center,
domestic seed sales have continued to grow since 2015.
It recorded 500.8 billion won ($391.68 million) in 2015,
KoreanSeedIndustryStartingtoRecover
540.8 billion won ($422.97 million) in 2016, and 591.9
Korean seed companies
billion won ($462.94 million) in 2017. Among the seed
ⓒazseeds
are overcoming the damage
sales, Korean sales amounted to 562.1 billion won
causedbytheIMFcurrency
($439.63 million), accounting for 86.4 percent showing
crisis and other crises one
steadygrowthsince2015.
by one. In 2020, Nongwoo
Bio,aseedcompany,ranked
first with 27 percent of the
KoreaisAlsoDedicatedtoBreedingStockand
▲Domesticseedcompanies
domestic seed market share,
suchasNongwooBiogrow
FisherySeedsDevelopment
rapidly.
recording 55.5 billion won
($43.40million)insales.Italsoachieved$13.6millionin
The seed category does not include only plant seeds.
exportsbysecuring5,000geneticresources.Inaddition,
Researcher Park said, “The seed category includes
Farmhannongseemstoberunningtowardthefiguresof
agricultural, forestry, livestock, and fishery seeds. The
former seed companies which collapsed during the IMF
GSP project was also studied and developed by dividing
currency crisis, with the takeover of some of Monsanto
it into five categories: vegetable seeds, horticultural
Korea'svegetabledivisions.ResearcherParkemphasized,
seeds, food seeds, breeding stock, and fishery seeds.”
“Domestic seed companies such as Nongwoo Bio are
He emphasized that Korea's seed development is not
growing rapidly, and the domestic seed industry is
limited to plant seeds. In the case of breeding stock,
recovering due to the participation of large companies
the government has invested 491.1 billion won ($384.10
suchasDongbuandLG.”
million) in a total of 20 items, including a breeding pig
24
www.theargus.org
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