According to Yonhap News,
(SEOUL=Yonhap News) Prime Minister Hwang Kyo-ahn on Saturday pledged to help develop the insect industry, calling it a future industry with huge potential.
He said the global insects market could reach 38 trillion won (US$34 billion) in 2020, noting insects are being used as a source of food, animal feed and medicine.
He made the comments in a speech at the opening ceremony of an insect expo in Yecheon, about 250 kilometers southeast of Seoul.
In 2010, the government announced the legislation of a special law aimed at fostering the insect industry.
In the following year, the agriculture ministry introduced a five-year road map to meet the goal by pushing research and development of edible and cookable insects, and supporting farms that raise eligible species.
There were 106 insect-rearing farms, and 17 processing and distributing companies across the country as of last year.
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Source: Yonhap News (Jul. 30, 2016)