POSCO International Supports Myanmar Rice Industry Development with Rural Development Administration

[Asia Economy Reporter Suyeon Woo] POSCO International (hereinafter POSCO Inter) is strengthening the food business value chain through public-private cooperation.

On the 5th, POSCO Inter signed a Memorandum of Understanding (MOU) with the Rural Development Administration to improve the value chain of Myanmar rice business, including varieties, cultivation, processing, and distribution. The MOU signing ceremony held at POSCO Inter's Seoul office was attended by POSCO Inter President Ju Sibo and Rural Development Administration Commissioner Kim Kyung-gyu, among other officials.

Through this agreement, the Rural Development Administration will support the production technology of uniform and high-quality raw rice, and POSCO Inter will be responsible for processing and distributing local raw rice, establishing a public-private cooperation for 'K-Agriculture.'

They also agreed to join forces in agricultural education, including cultivation techniques and post-harvest management support for local farmers. In particular, they will work together to remain a representative case of public-private cooperation for 'K-Agriculture' by preparing and implementing improvement plans through post-evaluation throughout the entire process.

Previously, POSCO Inter acquired a local rice processing plant with an annual capacity of 15,000 tons in Myanmar in 2017, and completed a rice processing plant with an annual capacity of 86,000 tons last year, conducting rice processing and export business locally. Since 2014, the Rural Development Administration has been promoting cooperation projects on rice variety development, cultivation technology improvement, and post-harvest management technology through the KOPIA project in Myanmar, possessing locally customized rice production management technology.

Through this public-private cooperation, it is expected to improve profitability by processing high-quality raw grains secured in Myanmar and expanding sales to China, Africa, Europe, and other regions.

POSCO Inter President Ju Sibo said, "This public-private cooperation will be a meaningful opportunity to actively practice POSCO Group's corporate citizenship management philosophy by contributing to increasing the income of Myanmar farmers through improving rice quality and developing Myanmar's rice industry, thereby enhancing the national prestige of the Republic of Korea."

This content was produced with the assistance of AI translation services.