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Posted Thu Nov 20 2008: from Financial Times:
Daewoo to cultivate Madagascar land for free
Daewoo Logistics of South Korea said it expected to pay nothing to farm maize and palm oil in an area of Madagascar half the size of Belgium, increasing concerns about the largest farmland investment of this kind. The Indian Ocean island will simply gain employment opportunities from Daewoo's 99-year lease of 1.3m hectares, officials at the company said. They emphasised that the aim of the investment was to boost Seoul's food security.... "It is totally undeveloped land which has been left untouched. And we will provide jobs for them by farming it, which is good for Madagascar," said Mr Hong. The 1.3m hectares of leased land is almost half the African country’s current arable land of 2.5m hectares.
[Read more stories about: corporate farming, corporate malfeasance, bad policy, governmental corruption, governmental idiocy]

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Hector says: "Doesn't "Daewoo" translate to "screw you" in some language?"
Apocadocs says: "Turns out this may not be true -- though it's *true in spirit.*"

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'Doc Michael says:
Now there's a deal. Something tells me that there will be a few surprises ahead for that ecosystem.
Followup: There's now evidence which indicates there may have been some misunderstanding. Let's hope so!

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