Legal basis established for fostering and supporting the agricultural industry

[Korea Agricultural Technology Newspaper = Reporter Lee Hyun-woo] The policy paradigm of the Ministry of Agriculture, Food and Rural Affairs will dramatically expand beyond the existing framework of agriculture, rural areas, and the food industry to the broader “agricultural industry” encompassing upstream and downstream sectors. The ministry announced that, under the revised enforcement decree of the Framework Act on Agriculture, Rural Communities and Food Industry (hereinafter the Framework Act on Agriculture and Food), which takes effect on July 1, it has completed a legal promotion system covering smart agriculture, the pet industry, and input industries such as agricultural machinery, fertilizers, and pesticides.

According to estimates by the Korean Agricultural Economics Association, as of 2023, the domestic agricultural industry’s value added reached a total of 211 trillion won, accounting for 8.9% of all industries. It has shown steep growth, following 70 trillion won in 2003 and 130 trillion won in 2014. However, criticism has continued that support systems have been operated in a fragmented manner under individual laws, preventing institutions from keeping pace with the speed of innovation in the field. With this revision, the government plans to mandatorily reflect agricultural industry promotion measures in the five-year Comprehensive Plan for the Development of Agriculture, Rural Areas and the Food Industry, and to systematically support technology development, international cooperation, and export promotion.

Song Mi-ryeong, Minister of Agriculture, Food and Rural Affairs, explained the policy intent, saying, “By establishing grounds for supporting the agricultural industry in the basic law that forms the foundation of agricultural policy, we now have the basis to systematically foster the entire value chain from input industries to processing, distribution, and services,” adding, “Going forward, we will maximize added value through the convergence of advanced technologies.”