USA / KOREA – Agriculture in Korea couldn’t be more challenging: limited arable land, severe and unpredictable weather, and an aging rural population. These constraints led the country to adopt smart farming and transform its agribusiness. Today, Korea’s cereal yield per hectare is 6,615 kg, almost double the global average, offering valuable lessons and opportunities for collaboration with Latin America and the Caribbean (LAC).
For this reason, IDB Invest’s Technology Immersion Program, backed by Korea, is helping LAC agribusiness leaders connect with leading innovators in Korea to learn how Korea’s agribusiness sector has embraced smart agriculture technologies. Adoption of these technologies is projected to increase from 16% in 2024 to 35% by 2030.
Korea has achieved this transformation by integrating advanced digital solutions, including Artificial Intelligence (AI), Internet of Things (IoT), drones, and robotic automation, into agricultural operations. These innovations deliver value-added agrifood products, set new standards for innovation, productivity, and efficiency, and strengthen domestic players while boosting global competitiveness, even as the nation’s arable land fell below 15 percent in 2023.
Building LAC-Korea bridges for innovation
The Korea Technology Immersion Program (KTIP) 2025, led by IDB Invest in collaboration with the Korean Ministry of Economy and Finance and the Korea Development Institute (KDI), brought together 10 leading agribusiness companies from seven Latin American and Caribbean countries with 45 Korean partners.
These included global innovators such as LG CNS, Hyundai Motor, CJ Logistics, Harim, and Namyang Dairy Products, as well as key institutions such as the Federation of Middle Market Enterprises of Korea (FOMEK), the Korea Development Institute (KDI), and the Global Digital Innovation Network (GDIN).
In October 2025, in Seoul, Korea, over a four-day intensive schedule, participants immersed themselves in expert-led sessions, cutting-edge company visits, and more than 80 targeted business meetings focused on five strategic areas:
The program uncovered 55 potential business opportunities, marking a significant evolution from the KTIP 2023 edition and deepening its focus on Digital Transformation in agriculture. This shift reflects a growing consensus among participants that adopting innovative technologies is essential to drive competitiveness and achieve sustainability across the LAC agribusiness sector.
From one-time event to sustainable platform
This initiative sets a benchmark for cross-regional cooperation. There is a clear need for ongoing technological and business collaboration between LAC and Korea, and IDB Invest’s role is essential to sustaining momentum.
The program is designed not as a one-off event but as a long-term platform for innovation, ensuring that agribusiness technological innovation and industry modernisation become a shared priority.
To turn current momentum into measurable development impact, IDB Invest is laying the foundation for sustained collaboration and scalable results through three strategic actions: Continuous Monitoring and Evaluation: Network Expansion and Mobilise Financing.
These efforts go beyond accelerating Digital Transformation in agribusiness; they aim to strengthen competitiveness, sustainability, and innovation across all priority sectors where IDB Invest operates, ensuring inclusive growth and long-term impact for the region.
A shared vision for the future
Digital Transformation in agriculture is now the foundation for competitiveness and sustainability. By combining Korea’s cutting-edge technologies with LAC’s agricultural potential, this partnership enables smart farming, resilient supply chains, verifiable sustainability, and inclusive growth. The journey has just begun, and the opportunities ahead are immense.
With the right mix of technology, financing, and strategic partnerships, LAC’s agribusiness can advance into a future where data-driven decisions, automation, and sustainability standards are not optional but integral to success. This is more than a collaboration; it’s a blueprint for regional transformation.
