S. Korea Speeds Up Entry into Singapore’s Smart-farming Market

Sejong, 25 November 2024 —The Ministry of Agriculture, Food and Rural Affairs (MAFRA) and the Korea Association of Smart-Farm Industry (KASFI) ran a Korean pavilion of six smart-farm companies at Agri-Food Tech Expo Asia (AFTEA) held in Singapore from 19 to 21 in November. 

AFTEA provides an opportunity for government representatives and business leaders to share their knowledge and experiences on smart farming and food-tech to strengthen Asia’s food security. Singapore is increasing investments in smart farming, with its 30 by 30 goal to produce 30 percent of its nutritional needs by 2030. Against this backdrop, the MAFRA opened a Korean pavilion for the first time at AFTEA through cooperation with the KASFI to help Korean smart-farm companies expand their entry into new markets.  

At the Korean pavilion, there were 220 business meetings between Korean companies and buyers from 57 countries. GyoRin, a Korean smart farm company, signed a Memorandum of Understanding on the supply of smart-farming materials with DiMuto, Singapore-based startup specializing in agri-food trade solutions. Also, technologies of PlanTFarm, operating a vertical farm in a subway in South Korea, drew much attention from buyers. 

Director-General Lee Sang-man of the MAFRA’s Agri-food Innovation Policy Bureau said: “Singapore has a large purchasing power and a lot of interest in Korean smart-farming technologies. So, we expect that the nation will emerge as a new market for Korean smart farms. We will make more efforts to help Korean companies expand their entry into a new market by closely communicating with them.”