Home > Uncategorized > Korea’s turn to exploit Africa?

Korea’s turn to exploit Africa?

South Korea’s Daewoo Logistics this week announced it had negotiated a 99-year lease on some 3.2 million acres of farmland on the dirt-poor tropical island of Madagascar, off southern Africa’s Indian Ocean coast. That’s nearly half of Madagascar’s arable land. Daewoo plans to put about three quarters of it under corn. The remainder will be used to produce palm oil—a key commodity for the biofuels market, Time.com reported on Sunday. (via World’s new bread basket: Africa)

Join the party …

In Liberia, Bridgestone inherited a similar lease from Firestone – which did this sweet heart deal with the American administrators of the ‘free’ slaves from the US. In the dark history of Liberia, this lease remains a darker spot.

Korea, learning from their earlier masters and their current American minders are using the same exploitative contracts in Africa.

Does Korea need this lease?

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