GDP from agriculture, forestry and fishing South Korea 2011-2023

In 2023, the gross domestic product (GDP) from the agriculture, forestry, and fishing sector in South Korea amounted to approximately 32 trillion South Korean won, a slight decrease from the previous year. This sector’s contribution to the GDP peaked in 2014, recording in excess of 33.3 trillion South Korean won. 

Agriculture, forestry, and fishing 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 2021, there were just over one million farming households in South Korea. Forestry and fishery families added another combined 147 thousand to this figure. The aging of the current agricultural population and the lack of popularity of the job among younger generations is directly impacting the industry. Around half of all farmers are more than 65 years old, the age of retirement in South Korea.

Growth of smart farming

For years, traditional agriculture, forestry, and fishery work was unpopular with younger generations. Young people generally preferred urban, office jobs with better pay and less physical work. In recent years, however, there has been a resurgence of youth interest in so-called 'smart' farming. This differs from traditional agriculture in the use of advanced technologies to support efficient remote management, automation, and mass agricultural production. The market size of smart farming was estimated to reach approximately 5.4 trillion won in 2020, a sharp increase from just five years before.