Forecast: Total Value of Agricultural Production at Farm Gate in South Korea

The total value of agricultural production at the farm gate in South Korea stood at €40.2 billion in 2023. The forecasted data from 2024 to 2028 shows a steady increase, with year-on-year variations of approximately 1.7% to 1.8%. Specifically, the value is projected to grow from €41.03 billion in 2024 to €43.71 billion in 2028. This indicates a Compound Annual Growth Rate (CAGR) of around 1.6% over the five-year period.

Key future trends to watch for include:

- Technological advancements in agricultural practices and automation.

- Government policies and subsidies aimed at supporting sustainable farming.

- Climate change and its impact on crop yields and production cycles.

- Demand shifts driven by consumer preferences for organic and sustainably sourced products.