In the short period from 1970 to 1990, export-led industrialization transformed South Korea from one of the world's poorest economies to the 11th largest. It became a member of the so-called developed countries club, the Organisation for Economic Co-operation and Development (OECD), in 1996. In the course of economic development, the importance of agriculture declined. Its contribution to Gross Domestic Product dropped from 40 percent in the early 1960s to less than 5 percent in the early 2000s, while agricultural employment declined from more than 50 percent to less than 10 percent of the labor force. The momentum of South Korea's strong economic growth was dramatically interrupted in December 1997 when a financial crisis pushed the economy to the brink of default. A record $57 billion loan granted by the International Money Fund to help overcome the crisis was accompanied by strict conditions for reform. The economy rebounded sharply and has grown since, with a pause in the global recession of 2009.
Agriculture, in contrast to the rest of the economy, has little export focus and exists with heavy protection from the government. South Korea strives to be self-sufficient in rice, horticultural products, and livestock production. Densely populated and increasingly wealthy, South Korea does not have enough cropland and pasture to support both direct human food use and animal feeding. Since the 1960s, South Korea has been a large net importer of agricultural products: raw materials (cotton, hides) to support the manufacture of clothing and shoes for export, wheat for food use, and feedstuffs (corn, soybeans) for livestock production.
Trade liberalization in the 1990s opened a large, growing trade in value-added and high-value commodities, including meats, fruits and vegetables, processed foods, and beverages. South Korea is likely to import greater amounts of agricultural products in the future because of domestic market forces and market-access measures negotiated in bilateral and multilateral agreements. New free trade agreements with the European Union and the United States in 2011 and 2012 included lower bilateral tariffs on South Korea's agricultural imports.
Key Statistics
See all data 2000-2010 
|
Calendar year
|
|
|
|
|
|
2009
|
2010
|
2011
|
|
Population (million persons)
|
48.0
|
48.1
|
48.3
|
48.5
|
48.6
|
48.8
|
48.9
|
49.8
|
Share of total population on farms (percent)
|
7.1
|
7.1
|
6.8
|
6.8
|
6.6
|
6.4
|
NA
|
6.0
|
|
Gross domestic product (billion US$)
|
608
|
845
|
951
|
1,049
|
931
|
834
|
1,015
|
1,116
|
In trillion won
|
827
|
865
|
909
|
975
|
1,026
|
1,065
|
1,173
|
1,237
|
Growth rate, at 2000 prices (percent)
|
4.6
|
4.0
|
5.2
|
5.1
|
2.3
|
0.3
|
6.2
|
3.6
|
Per person (gross national income, US$)
|
15,082
|
17,531
|
19,722
|
21,695
|
19,295
|
17,193
|
20,769
|
22,489
|
|
Exchange rate, won/US$
|
1,145
|
1,024
|
956
|
929
|
1,102
|
1,277
|
1,156
|
1,108
|
|
Land area
|
Total (million hectares)
|
9.962
|
9.965
|
9.968
|
9.972
|
9.982
|
9,990
|
NA
|
NA |
Area of cultivated land (million hectares)
|
1.836
|
1.824
|
1.800
|
1.782
|
1.759
|
1,737
|
NA
|
NA |
Average cultivated area per farm household (hectares)
|
1.48
|
1.43
|
1.45
|
1.45
|
1.45
|
145
|
NA
|
NA
|
|
Principal crops (1,000 mt)
|
Rice, milled
|
5,000
|
4,768
|
4,680
|
4,408
|
4,843
|
4,916
|
4,295
|
4,224
|
Barley, unhulled
|
249
|
272
|
208
|
230
|
241
|
211
|
NA
|
NA
|
Corn
|
78
|
73
|
65
|
84
|
93
|
77
|
73
|
78
|
Soybeans
|
139
|
183
|
156
|
114
|
132
|
139
|
105
|
129
|
Potatoes, white and sweet
|
988
|
1,177
|
917
|
927
|
934
|
941
|
NA
|
NA
|
Fruits
|
2,411
|
2,593
|
2,504
|
2,750
|
2,698
|
2,881
|
NA
|
NA
|
Vegetables
|
10,062
|
9,097
|
9,445
|
8,828
|
9,343
|
9,353
|
NA
|
NA
|
|
Livestock production (1,000 mt)
|
Beef, carcass weight
|
186
|
195
|
200
|
219
|
246
|
267
|
247
|
280
|
Pork, carcass weight
|
1,100
|
1,036
|
1,000
|
1,043
|
1,056
|
1,062
|
1,110
|
837
|
Broiler meat
|
432
|
451
|
523
|
570
|
565
|
613
|
647
|
686
|
Milk
|
2,255
|
2,229
|
2,176
|
2,188
|
2,139
|
2,110
|
2,103
|
1,869
|
Eggs
|
508
|
515
|
537
|
544
|
542
|
579
|
NA
|
NA
|
|
Agricultural exports (million US$)
|
1,669
|
1,811
|
1,816
|
2,005
|
2,310
|
2,479
|
3,139
|
4,018
|
Ramen noodles
|
157
|
136
|
103
|
116
|
130
|
142
|
157
|
187
|
Pork and offals
|
27
|
34
|
24
|
26
|
18
|
12
|
1
|
2
|
Refined sugar; confectionery products
|
175
|
200
|
235
|
239
|
252
|
257
|
390
|
473
|
|
Agricultural imports (million US$)
|
10,512
|
11,060
|
12,323
|
14,801
|
18,872
|
14,983
|
18,645
|
25,573
|
Corn
|
1,432
|
1,213
|
1,265
|
1,826
|
2,820
|
1,638
|
1,990
|
2,498
|
Beef
|
544
|
670
|
792
|
939
|
960
|
797
|
1,080
|
1,522
|
Hides/skins
|
421
|
408
|
364
|
381
|
369
|
268
|
386
|
446
|
Wheat
|
660
|
666
|
656
|
828
|
1,274
|
949
|
1,067
|
1,647
|
Cotton
|
430
|
355
|
299
|
305
|
342
|
292
|
406
|
855
|
Soybeans
|
480
|
391
|
321
|
415
|
792
|
592
|
574
|
676
|
Pork
|
334
|
591
|
741
|
863
|
823
|
672
|
664
|
1,438
|
Rubber, natural
|
456
|
509
|
734
|
789
|
1,003
|
600
|
1,195
|
1,929
|
NA = Not available.
Sources: Economic Research Service; Korea Customs Data; Korea National Statistical Office; Bank of Korea; Korea Rural Economic Institute; National Agricultural Cooperative Federation, Korea; Pacific exchange rate service; Production, Supply, and Demand database, USDA;Statistical Yearbook of Agriculture and Forestry, Republic of Korea. |
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