Korea

Food importers may increase overseas farm purchases

Food-importing nations from South Korea to Saudi Arabia may step up purchases or leases of overseas farmland to lock in supplies amid concern prices may again surge. “We’re going to see more of this, especially from countries that are quite dependent on imports,” Brady Sidwell, head of advisory at Rabobank Groep NV’s Northeast Asia Food & Agribusiness Research and Advisory Group, said in a Bloomberg Television interview broadcast today.

Solving threat of hunger for rich may starve the poor

The problem of food security poses a real threat to global stability. Meeting in Italy last weekend, agriculture ministers of the G8 industrialized countries recognized the extent of the problem. They pledged to continue fighting hunger. But beyond calling for increased public and private investment in agriculture, the final communiqué of the ministerial meeting was short on fresh proposals.

HyundaiHeavy’s land deal smells of politics

Hyundai Heavy Industries -- the world's biggest shipyard -- has bought a big tract of Russian farmland in one of the latest diversification moves by Korean firms. But here's a question: Have performance- and profit-obsessed Hyundai Vice Chairman Min Gye-sik and its CEO Choi Kil-seon voluntarily decided on the move or has the company's biggest stakeholder pushed for the plan?

Hyundai Heavy secures farms in Russia

Hyundai Heavy Industries Co., the world’s largest shipbuilder, bought 67.6 percent of a Russian farm to grow corn and soybeans, heeding a call by the Korean government to help ensure food security. The shipbuilder purchased the stake from a group of New Zealand investors for $6.5 million and plans to produce 60,000 metric tons of corn and soybeans in 2014.

Hyundai plants Seoul's flag on 50,000ha of Russia

South Korea's Hyundai Heavy Industries yesterday announced it planned to lease 50,000 hectares of farmland in Russia's far east, in the latest sign of Seoul's push to increase its food security by outsourcing agricultural production overseas, writes Javier Blas

The growing lust for agricultural lands

Not a day goes by without new acreage being signed over. "For Sale" ads for agricultural property are now featured in the international financial press. And there's no dearth of clients.

Saudis and South Koreans in new land rush

Two of the world's biggest land investors - Saudi Arabia and South Korea - have announced moves to improve their food security. A South Korean company is to buy 125,000 acres in Russia over the next four years and a Saudi group has set up a £600m fund to buy land.