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 ruling Democratic Party of Korea (DPK) and made public on Monday. Korea purchased the Yatamauca farm in Santiago del Estero, about 1,050 kilometers northwest of Buenos Aires, for $2.12 million in August 1978, toward the end of Park's term. Park served as Korea's president from 1961 until his assassination in 1979. Spanning 20,882 hectares (208.82 square kilometers), roughly one-third of Seoul’s area or 72 times the size of Yeouido, the farm was purchased to help Korean immigrants settle in Argentina and make a living through farming. The vision never materialized. Multiple surveys found the land unsuitable for development, while its upkeep has cost taxpayers billions of won. KOICA, the country’s