South Korea must prepare for food crisis: president

By Agence France-Presse
Monday, February 7, 2011 10:35 EDT
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South Korean President Lee Myung-Bak called Monday for new strategies to help secure a stable supply of food amid growing concerns about a global food crisis.

“The likelihood of a global food crisis is rising due to climate change. We need to set up national strategies and research to tackle the issue,” Lee’s spokesman quoted him as saying during a meeting with senior advisers.

Lee also called for a task force from the government and private sector to be set up to attract investment in farming, and stressed the need to tackle rising energy prices also blamed for fanning inflation.

Affected by surging global prices for oil and other commodities and higher domestic prices of agricultural products, South Korea’s consumer prices jumped 4.1 percent year-on year in January.

South Korea has recently intensified efforts to secure stable sources of food and hedge against price swings.

State-run Korea Agro-Fisheries Trade Corp said last month it plans with private companies to buy a US grain trading firm this year to secure new sources of soybeans and grain.

The United Nations warned last month that millions of people are at risk after global food prices hit their highest level, amid unexpected shortfalls due to bad weather and policy responses from some exporting countries.

Agence France-Presse
Agence France-Presse
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  • Anonymous

    South Korea: “The next Egypt”…I don’t buy the global warming reasoning though.

  • Wyrdless

    South Korea is definitely NOT the next Egypt

  • Wyrdless

    You can argue with argibiz about GM, fertilizers and pesticides and whatever, but to say that big business increased food prices is so wrong it boggles the mind.

    Also, America has large amounts of arable land, and until a few years ago, we were a net food exporter. America will be one of the very last countries hit with hunger in a food crisis

  • Wyrdless

    The only food crisis South Korea has to prepare for is what to do with North Korea when it collapses and all the starving north Koreans need food.

  • Anonymous

    Watch out, that fucking asshat “Sludge” will give Michelle Obama crap for another “Victory Garden” this year.