In 2024, the gross domestic product (GDP) from the agriculture, forestry, and fishing sectors in South Korea amounted to approximately trillion South Korean won. The agricultural sector's contribution to GDP has gradually declined from about percent in the 1950s to roughly percent recently.
Agriculture in South Korea
The population involved in agriculture and fishing has been shrinking steadily for years as the South Korean economy evolved into a manufacturing and technology industry that produces automobiles, semiconductors, and petroleum products, among other things. As of 2023, there were just around million farming households in South Korea. Forestry and fishery families added another combined 141,000 to this figure. Around half of all farmers were more than 65 years old.
Growth of smart farming
Given these challenges, the agricultural sector is increasingly turning to innovative solutions, such as "smart" farming. This approach differs from traditional agriculture as it leverages advanced technologies for efficient remote management, automation, and large-scale agricultural production. The market size of smart farming is projected to reach approximately million U.S. dollars by 2025, representing a sharp increase from just five years earlier.