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Food News Clipping

November 7,2011

2011.11.07

FAS/Seoul Monitoring of Media Reporting on Agricultural Issues

Today's Date: Monday, November 7, 2011

For Coverage: November 3 - November 7, 2011

1. BILATERAL/MULTIATERAL ISSUES

Ratification of FTA Postponed [English, MGF]

http://www.koreatimes.co.kr/www/news/nation/2011/11/116_97953.html

The passage of the long-pending Korea-U.S. free trade agreement (KORUS FTA) at the National Assembly was postponed Thursday after a scheduled plenary session was cancelled when the opposition showed no signs of backing down from its position. The next parliamentary session is scheduled for Nov. 10.

Presidential Office Calls For Swift Approval Of Trade Pact With U.S. [English, MGF]

http://www.tbs.seoul.kr/eNews/news.do?method=efmNewsInfo&n_idx=52818¤tPage=2

The presidential office has urged the National Assembly to ratify the free trade agreement with the United States in a democratic manner by putting it to a vote. A Cheong Wa Dae official, asking to remain anonymous, says the only democratic way to deal with the issue would be to put it to a vote in accordance with the National Assembly act. The trade pact has been one of the most contentious issues that has plagued Korea's parliament for months. Opposition parties claim that the deal lost balance after last year's revision and now favors the U.S.

S. Korea's Trade Surplus With EU Narrows Under Free Trade Deal [English, MGF]

http://www.tbs.seoul.kr/eNews/news.do?method=efmNewsInfo&n_idx=52813¤tPage=2

Korea's trade surplus with the European Union has decreased sharply over the past four months since its free trade deal with the EU went into effect in July. The Korea Customs Service says Korea's exports to the EU totaled just under 16.9 billion dollars during the July to October period, while imports from the EU came to 15.8 billion dollars. Seoul still posted a trade surplus of around 1.1 billion dollars but the amount was far smaller than the 4.9 billion dollars recorded during the same period a year earlier.

2. ECONOMIC ISSUES

Korea to Join $1 Trillion Dollar Trade Nations Soon [Korean, OSY]

http://news.donga.com/Economy/MoneyT/3/0102/20111107/41680161/1

Summary: According to the Ministry of Knowledge & Economy, total amount of international trade (import and export combined) of Korea this year is likely to mark $1 trillion dollar around the first week of December, which will make Korea the 9th country in the world to join the $ 1 trillion dollar trade nations. In particular, Korea has made a robust export growth over the years. Between 1971 and 2010, Korea has achieved a 16.9 percent annual export growth on average. Market analysts point out that Korea needs more FTAs to further expand the international trade.

Per Capita Income of Koreans to Mark a Record High $24,000 This Year [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2011110619611&sid=0101&nid=002

Summary: According to the Ministry of Planning & Finance, Korea’s per capita national net income (GNI) would mark a record high $24,000 this year, up sharply from $21,695 last year. International Monetary Fund (IMF) has announced a similar figure recently, $23,749.

3. LIVESTOCK ISSUES

Cow in Andong Tests Negative for Foot-and-Mouth Disease [English, MGF]

http://world.kbs.co.kr/english/news/news_Dm_detail.htm?lang=e&id=Dm&No=85771¤t_page

A cow in Andong, North Gyeongsang Province suspected of having foot-and-mouth disease has tested negative for the highly contagious disease. The Animal, Plant and Fisheries Quarantine and Inspection Agency under the Ministry for Food, Agriculture, Forestry and Fisheries said Thursday it analyzed a sample taken from a cow farm in Andong after one of the cows there showed symptoms of the contagious disease, including excessive drooling and a refusal to eat. The agency carried out a thorough examination and concluded that the cow was not infected with foot-and-mouth disease. With the test results, North Gyeongsang Province lifted a measure on restricting the travel of livestock, vehicles and people of the Andong cow farm.

4. MARKETING ISSUES

Paris Baguette (Bakery Shop Chain) Marks 3,000 Stores in Korea [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2011102592991&sid=0104&nid=004

Summary: Paris Baguette, the leading bakery shop chain in Korea, announced that the number of stores under the chain marked 3,010 at the end of September, up 294 from the year end 2010. The company started the franchise business in 1986, so each year it has added 120 stores on average.

“Coffee Market in Korea is Far from Being Saturated”, Darrel Kim, Starbucks Asia Director [Korean, OSY]

http://economy.donga.com/Top_Feed/3/0113/20111107/41678092/3&top=1

Summary: Darrel Kim, Asia director of Starbucks Coffee, said in a press interview that the coffee market in Korea still offers many new growth opportunities for Starbucks. He commented that espresso cafes only account for 30 percent of coffee consumption in Korea, and Starbucks would focus more on products that target off-premise coffee consumption such as RTD (ready to drink) bottled coffees and flour type instant coffee pouches. Mr. Kim added that Starbucks will additionally launch capsule coffee products soon in Korea.

5. OTHER MISCELLANEOUS ISSUES

S. Korea To Export Tomatoes, Grapes To N. America In 2012 [English, MGF]

http://www.tbs.seoul.kr/eNews/news.do?method=efmNewsInfo&n_idx=52808¤tPage=3

Korea will export tomatoes and grapes to the North American market starting in 2012 after meeting quality control and quarantine safety requirements. The farm ministry's Animal, Plant and Fisheries Quarantine and Inspection Agency says negotiations with the United States to ship tomatoes were successfully concluded last month. The agency adds that actual product shipments will take place in May. The QIA says talks with Canada to ship grapes were completed in August, although the fruit will not reach the country until next year.

Study Shows Kimchi Effective at Eliminating Body Fat [English, MGF]

http://world.kbs.co.kr/english/news/news_Dm_detail.htm?lang=e&id=Dm&No=85747¤t_page=

New research shows that the staple Korean dish kimchi could help you lose weight. The study explains that kimchi contains an enzyme that is effective at breaking down fat in the body. It noted that fermented kimchi is more effective than freshly made kimchi when it comes to eliminating fat.

“Korean Frozen Oyster May Cause Food Poisoning”, FDA Announces Consumer Warning [Korean, OSY]

http://economy.donga.com/3/0113/20111107/41678186/3

Summary: The U.S. FDA announced on November 5 that three consumers in Washington state reported food poisoning recently after eating frozen oyster imported from South Korea. The product in question, marketed under ‘ASSI’ brand, may cause food poisoning and should be discarded, warned FDA. The distributor of the product has agreed on a voluntary recall.

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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