South Korea is seeking to establish a state-led grain trading company in Chicago, Financial Times reports. State-run Korea Agro-Fisheries Trade has formed a consortium with CJ CheilJedang, Samsung C&T , STX and Hanjin Transportation to establish the entity, adds Reuters. The Asian nation intends the company to buy up to 30% of Korea’s grain needs by 2020 directly from U.S. farmers. The company is seeking to import around 100,000 tonnes of grains in its first batch in the second half of 2011.

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