Korea's Cutting-Edge Innovations to Transform Agribusiness in Latin America and the Caribbean
Discover how IDB Invest connects regional agribusinesses with leading innovators in Korea to accelerate smart agriculture, agritech, and sustainable growth.
Digital Agribusiness Collaboration Reimagined
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 modernization 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:
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.
Related Article
Digital transformation is redefining agricultural competitiveness in Latin America and the Caribbean
Authors
Jaeseung Lee
Jaeseung Lee is a Digital Transformation Program Lead at IDB Invest, where he manages Korean technical cooperation funds and leads projects in business development, artificial intelligence, and LAC–Korea collaboration. Prior to joining IDB Invest, he worked with organizations across the UN system, the European Union, an AI‑focused NGO, and Korea’s National Research Institute on digital economy and society issues. He holds a Master of Public Administration (MPA) in Innovation Policy Making from University College London.
David Brogeras
David leads the Digital Transformation Advisory Services team at IDB Invest, which he joined in 2021. His role involves developing advisory and knowledge services that address the challenges of digital transformation in the private sector, and its impact on sustainability, through the incorporation of technological solutions supported by platforms, data analytics, and artificial intelligence. Throughout his career, David has been a partner at two of the world's leading consulting companies, specializing in digital transformation. Additionally, he is an entrepreneur and co-founder of two technology companies. David holds a Bachelor's degree in Physical Sciences from the Universidad Autónoma de Madrid. He has experience in navigating changing and complex business environments in Europe and Latin America, consistently achieving notable team objectives.
LIKE WHAT YOU JUST READ?
Subscribe to our mailing list to stay informed on the latest IDB Invest news, blog posts, upcoming events, and to learn more about specific areas of interest.
SubscribeClimate change
Related Posts
2024, the Year the World Turned Its Eyes to the Amazon Region
The "lungs of the planet," was one of the major topics of the past twelve months. Despite significant challenges, the region has much to offer regarding global solutions that drive sustainable development. Here is a selection of blogs we published on the topic.
Addressing Climate Change Through Improved Business Continuity
The increasing impact of climate change on the Caribbean, emphasizes the need for effective business continuity management to mitigate disruptions.
Assessing Climate Risks Is Vital for Companies, the Economy and the Environment
Although each company’s adaptation strategies must be tailored to its unique circumstances, ignoring climate change is never wise. Conducting a professional assessment is the best approach to making informed decisions.