In 2024, the Ministry of Agriculture, Food and Rural Affairs (MAFRA) started an export-support project for smart-farm consortiums to create a synergy effect to export companies, as companies specializing in part of the entire package of agricultural equipment, solutions, cultivation know-how, etc. have limitations in winning an order.
As a result of the project, two consortiums of smart-farm export companies concluded a contract for exporting smart farms to the Kingdom of Saudi Arabia (the Middle East) and to the Socialist Republic of Vietnam (Southeast Asia) in 2024.
Specifically, the MAFRA had a business meeting with a buyer in Saudi Arabia and as a result, in May 2024, a consortium of MANNA CEA and DOHWA Engineering signed a contract valued at USD 4.83 million for export of aquaponics smart farms to Saudi Arabia. A consortium of ISU Chemical and L&P Agricultural Company, which received the MAFRA's support for the establishment of a corporation in Vietnam, signed a contract valued at USD 1.04 million for the construction of a vertical smart farm for strawberry production in December 2024.
As an effort to implement the export-support project for smart-farm consortiums, the MAFRA selected four consortiums of smart-farm export companies and provided full support tailored to the needs of each of the consortiums in diverse areas such as establishment of a corporation in an overseas market, obtaining approval for it from the overseas authorities, networking with companies placing an order, etc.
In 2025, the MAFRA will make more efforts to ensure that Korean companies can continue to win construction orders of smart farms from overseas buyers. To this end, the MAFRA will continue providing full support for consortiums of smart-farm export companies by increasing the project budget to KRW 366 million from KRW 244 million in 2024. Also, the financial support for smart-farm consortiums will be provided according to the characteristics of a smart-farm export project such as a target nation for a project, project sizes, etc.
Director-General KIM Jung Wook of the MAFRA's Agri-food Innovation Policy Bureau said: "The project to help consortiums of smart-farm export companies win orders of smart-farm construction was started in 2024. However, the government and companies worked together as one team, which has led to tangible export outcomes. We will continue to listen to the voices of the smart-farm export industry to increase the exports of K-smart farms. This way, we will develop diverse ways of support for the industry."
Source: MAFRA