KOTRA Holds Smart Farm Overseas Expansion Council Meeting

Introduction to Support Plans for Overseas Expansion of Domestic Small and Medium Enterprises and Mid-sized Companies

KOTRA held the 'Smart Farm Overseas Expansion Council' on the 21st. Kim Sangmuk, Head of KOTRA Innovation Growth Division (left), is seen conducting the meeting online (Photo by KOTRA).

[Asia Economy Reporter Kim Ji-hee] KOTRA, in collaboration with the Ministry of Agriculture, Food and Rural Affairs, announced on the 23rd that it held the 'Smart Farm Overseas Expansion Council' on the 21st. Sixty small and medium-sized enterprises related to smart farms participated via video conference.

The global smart farm market is expected to grow at an average annual rate of 12.4% from 2018 to 2023. Leading the global smart farm market are companies from agricultural powerhouses such as the Netherlands, the United States, and Japan. Recently, not only agrochemical companies like Bayer and DowDuPont but also IT companies such as Google, Alibaba, and Microsoft have been actively entering the smart farm market.

At this council meeting, KOTRA introduced plans to support the overseas expansion of Korean small and medium-sized enterprises. The detailed plans include ▲dissemination of overseas smart farm market information ▲hosting smart farm web seminars and video consultations ▲discovering smart farm projects ▲supporting smart farm pilot greenhouse construction projects ▲creating multilingual websites, product catalogs, and videos.

Kim Sang-mook, Head of KOTRA's Innovation Growth Headquarters, stated, “Starting with the launch of the council, we will identify the overseas expansion needs of our small and medium-sized enterprises and support the globalization of Korean-style smart farms.”

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