Planning Korea's Agricultural Development: Analysis and Recommendations for the Third Five Year Plan

William R. Gasser, James P. Cavin, Richard S. Magleby, Edward S. Micka, Troy Mullins and Charles A. Breitenbach

No 356664, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service

Abstract: The Third Five Year Economic Development Plan for the Republic of Korea, 1972-76, is based on forecasts of certain economic aggregates prepared by the Economic Planning Board. Total population is projected to exceed 35 million by 1976, compared with about 31 million in 1969--a gain of 13 percent. However, the urban segment is expected to account for nearly 60 percent of the total, compared with 50 percent in 1969. The Gross National Product in real terms is projected to increase more than 80 percent, with income per capita showing a gain of about 78 percent. This population and income growth will generate a rapid rise in the demand for food (particularly livestock products, fruits, and vegetables), requiring an expansion of 25 to 30 percent in the total supply of farm products. But with a larger proportion of the population in the cities, the volume of farm products marketed through commercial channels will rise about 40 percent. The requisite expansion in production and marketing can be achieved provided certain programs are fully implemented. These include: (1) expansion of rice production through paddy rearrangement, mechanization, better control of water supplies, and more effective use of fertilizers and pesticides; (2) importation of larger quantities of feed grains in conjunction with increased for age production; (3) complete modernization of the marketing system involving such things as vastly improved farm to market roads, adequate storage facilities, and effective regulation of grading, sanitation, and pricing practices; (4) accurate information on prices and marketings and intensive marketing research; and (5) greater emphasis on financial incentives to farmers and marketing agencies.

Keywords: Agribusiness; Agricultural and Food Policy; Agricultural Finance; Crop Production/Industries; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; International Development; Labor and Human Capital; Land Economics/Use; Livestock Production/Industries; Marketing; Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Pages: 118
Date: 1970-08
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:356664

DOI: 10.22004/ag.econ.356664

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