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, which it acquired nearly 50 years ago during President Park Chung-hee's tenure, to help fund agricultural immigration. The land, known as Yatamauca, has been idle for years and has required expensive maintenance. The Korea International Cooperation Agency (KOICA) has approved the sale, which will be presented to Rep. Han Jeoung-ae of the ruling Democratic Party of Korea (DPK) on Monday.
The Yatamauca farm, located in Santiago del Estero approximately 1,050 kilometers north of Buenos Aires, was bought for $2.12 million in August 1978, toward the end of Park's presidency. Park led Korea from 1961 until his assassination in 1979. Spanning 20,882 hectares, the farm was intended to assist Korean immigrants in settling and farming in Argentina, but the vision was never realized.
Surveys consistently found the land unsuitable for development, and its upkeep has cost taxpayers billions of won.
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.
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