30 Korean agri firms to invest in Ph

The MOU with Korea Agricultural Machinery Cooperative seeks to promote the agricultural development of both countries in terms of mechanization and modernization. #KAMICO

DA Sec. William Dar aboard a combine harvester. (DA)

An agricultural cooperative in South Korea recently proposed to bring in about 30 companies that will invest in farm equipment assembly and manufacturing in the Philippines.

The proposal followed the signing last 27 November of a memorandum of understanding (MOU) reaffirming Philippine-South Korea partnership to bolster agricultural mechanization, Agriculture Secretary William Dar said over the weekend.

The MOU with Korea Agricultural Machinery Cooperative (KAMICO) seeks to promote the agricultural development of both countries in terms of mechanization and modernization.

KAMICO Chairman Kim Shin-Gil expressed interest to strengthen the agricultural cooperation between the two countries through its partnership with the DA.

“The increased agricultural mechanization would result in enhanced agricultural productivity so that the Philippines would be able to attain food security, raise the incomes of its farmers, and boost its capability to expand agricultural exports,” Kim said.

KAMICO is particularly looking to invest in various manufacturing equipment such as tractors, rice transplanters, rice mills, tillers and plows, cultivators, greenhouses, agricultural product dryers, and balers.

These equipment are essential for the production of high-value crops and the prevention of epidemics in livestock.

For his part, Dar said the renewed partnership with KAMICO paves the way for the Philippines and South Korea to boost agricultural cooperation and to develop collaborative projects that would advance the Philippines’ agriculture sector.

KAMICO, recognized by the Korean government, is a special non-profit cooperative with 580 agricultural machinery manufacturer-members in Korea.

Since its inception in 1962, KAMICO represents Korean agricultural machinery manufacturers and has played a vital role in the mechanization of Korea’s agriculture sector.

The agricultural sector is a major engine of growth for the Korean economy that has contributed to the attainment of food security, the prosperity of farming communities, and the expansion of Korea’s agricultural exports.