South Korea, the world’s third-biggest corn buyer, plans to secure more farmland overseas to grow crops such as corn and wheat and secure a stable supply amid surging food prices, Bloomberg reported.

The Asian nation wants to secure a total of 380,000 hectares (939,000 acres) of overseas farmland by 2018, the agriculture ministry said in an emailed statement. That area could produce about 1.38 million tons of corn, wheat and soybeans, or about 10 percent of the nation’s annual imports of the three major crops, it said.

South Korea, which relies on imports for almost all its corn and wheat while being fully self-sufficient in rice, is seeking to boost supplies as surging global food costs fuel inflation. Corn futures prices have jumped 63 percent in Chicago in the past year, with soybeans climbing 42 percent and wheat gaining 22 percent.

The government will help the nation’s companies lease arable land or buy stakes in overseas firms, the statement said. It will prioritize countries such as the Philippines, Cambodia, Ukraine, Indonesia and Russia for potential investments, it said.

South Korea also plans to expand its overseas grain trading business into countries including Brazil, Russia and Ukraine after a U.S. venture was set up earlier this year, the statement said. State-run Korea Agro-Fisheries Trade Corp. in April started a grain-trading venture in Chicago to help secure supplies, the statement said.