Korea to sell idle Argentine farm from Park Chung-hee era after nearly 50 years
Korea plans to sell a farm in Argentina nearly 50 years after purchasing it during President Park Chung-hee’s rule to support agricultural immigration, following decades of the land sitting idle and requiring costly maintenance. The plan, outlined by the Korea International Cooperation Agency (KOICA) and approved by the Ministry of Foreign Affairs, was submitted to Rep. Han Jeoung-ae of the…
Korea intends to sell a farm in Argentina, a purchase made nearly five decades ago during President Park Chung-hee's tenure, due to the land's long-standing inactivity and the high maintenance costs it incurs. The Korea International Cooperation Agency (KOICA) and the Ministry of Foreign Affairs have officially approved the plan, which was recently disclosed to Rep. Han Jeoung-ae of the ruling Democratic Party of Korea (DPK) on Monday.
Korea acquired the Yatamauca farm in Santiago del Estero, located approximately 1,050 kilometers northwest of Buenos Aires, for the sum of $2.12 million in August 1978, towards the end of Park's presidency. Park led Korea from 1961 to 1979, when he was tragically assassinated.
Stretching over 20,882 hectares (208.82 square kilometers), approximately one-third the size of Seoul or equivalent to 72 Yeouido islands, the farm was originally intended to assist Korean immigrants in settling down and engaging in farming activities in Argentina. However, this plan never came to fruition. Various surveys revealed that the land was unsuitable for development. Additionally, the ongoing maintenance of the property has cost taxpayers billions of won. Now, KOICA plans to dispose of the inactive farm.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
