* Date : 2016-12-06
Korea's Seed Industry Goes Global
With global climate anomalies continuing, food is becoming a limited resource around the world. Countries are now engaged in a silent war for seeds. In order to cultivate Cheongyang chili pepper in Korea, farmers have to pay royalty to a foreign company. This is because the local seed company that developed the seed was acquired by a foreign company during the Asian financial crisis. 1 gram of paprika seed costs 3 times the prices of gold. Seeds have become a higher value added product than even gold. According to the Rural Development Administration, the total amount of royalties paid for seeds will reach US$ 670 Mil. in 2020. This is why the government has launched the Golden Seed Project, which aims to achieve seed autonomy and develop seed exports by 2021. We hear from those working in the forefront of the rebirth of the Korean seed industry, to learn more about its current situation and future goals.