South Korea is planning to increase investment in plant and livestock breeding so as to meet its domestic demand and expand exports in this field, the government said on Monday.
According to the Ministry for Food, Agriculture, Forestry and Fisheries, the government will inject more money and resources into the area, to meet the domestic demand for seeds used to grow vegetables, fruits, animal feeds and breeding livestock, as well as achieve 200 million U.S. dollars in exports in the target year of 2020.
The country's exports in the area posted just 29 million U.S. dollars in 2008, while imports hitting 91 million dollars, with a trade deficit of 62 million dollars.
Meanwhile, South Korea will inject 143 billion won (around 121.1 million U.S. dollars) into research and development works in 2020, a sharp soar from 52.4 billion won in 2009, the ministry said.
The fund will be used to develop plants and livestock that are more resistant to pests, disease and grow at a faster rate.
According to the Ministry for Food, Agriculture, Forestry and Fisheries, the government will inject more money and resources into the area, to meet the domestic demand for seeds used to grow vegetables, fruits, animal feeds and breeding livestock, as well as achieve 200 million U.S. dollars in exports in the target year of 2020.
The country's exports in the area posted just 29 million U.S. dollars in 2008, while imports hitting 91 million dollars, with a trade deficit of 62 million dollars.
Meanwhile, South Korea will inject 143 billion won (around 121.1 million U.S. dollars) into research and development works in 2020, a sharp soar from 52.4 billion won in 2009, the ministry said.
The fund will be used to develop plants and livestock that are more resistant to pests, disease and grow at a faster rate.
