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Food News Clipping

April 12, 2011

2011.04.13

FAS/Seoul Monitoring of Media Reporting on Agricultural Issues

Today's Date: April Tuesday 12, 2011

For Coverage: April 08 - 12, 2011

1. BILATERAL/MULTILATERAL ISSUES

FTA with China would boost GDP 3%: Study [English, CSY]

http://joongangdaily.joins.com/article/view.asp?aid=2934626

Summary: A free trade deal with China would help

Korea

expand its gross domestic product (GDP) by nearly 3 percent, a think tank said Sunday, citing more exports to the fast-growing market through lowered trade barriers. According to a report by the Samsung Economic Research Institute, Korea’s GDP is expected to grow 2.72 percent more if Seoul and Beijing complete a free trade agreement (FTA) to cut or remove tariff barriers between the two countries. The GDP expansion would come mostly from increased exports to the Chinese market by Korea’s automobile, textile and petrochemical companies, the report said. That is much higher than a 0.56 percent gain and a 1.02 percent growth in GDP expected from Seoul’s FTAs with the United States and the European Union, experts said.

2. MARKETING ISSUES

Lotte TV Home Shopping to Pay 30 Percent More to Cable TV Networks … TV Home Shopping Companies Compete for Better Channels [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/04/07/0318000000AKR20110407213452003.HTML?audio=Y

Summary: Lotte TV Home Shopping has reportedly signed renewal contracts with 95 local cable TV networks at about 30 percent higher price than last year. Higher fee to the cable TV network is expected to get Lotte better channel number. Other TV home shopping companies are also expected to spend more to secure better channels, which is crucial to generate bigger consumer attention and visits. Total fee that the five TV home shopping companies paid to cable TV networks in 2009 amounted to W400 billion, up 14.5 percent from the previous year according to the Korea Broadcasting & Telecommunication Committee.

Imports of Fresh Agricultural Products Surged in the First Quarter [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/04/12/0301000000AKR20110412070100002.HTML?template=2089

Summary: According to the Ministry of Ag., imports of fresh agricultural products surged in the first quarter due to reduced supply of local products. Total imports of fresh vegetables and fruits rose 79 percent and 28 percent respectively in the first quarter compared to the same period last year. Major products that showed high import growth included fresh cabbage (1,072 times), leek (186 times), onions (74 times), orange (160 percent), grapes (150 percent), and pumpkins (150 percent).

The information in this report was compiled by the Agricultural Trade Office (ATO) at the U.S. Embassy in Seoul, South Korea. The press summaries contained herein do NOT reflect USDA, the U.S. Embassy, or other U.S. government agency official policy or view point. U.S. food exporters can learn more about market opportunities in South Korea by reviewing ATO Seoul’s Exporter Guide and other reports available at www.fas.usda.gov by clicking on “attaché reports”.

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