Today's Date:     Monday, March 5, 2012

1. MARKETING ISSUES

Ceiling Volume Subject to Lower Import Duty Expanded on 10 Agricultural Products [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/02/29/0302000000AKR20120229106900002.HTML

Summary: Ministry of Finance & Planning announced on March 1 that it planned to increase the ceiling volume of 10 agricultural products that were subject to lower import duties under the Current Market Access (CMA) program.  Products were seed pigs, seed corn, supplement feed, Mung bean, Azuki bean, soybean for processing, fresh potato, potato starch, sweet potato starch, and wheat starch.

Market 999, a ‘Dollar Store’ by Lotte Super Recruits Franchisees [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2012022980041&sid=0104&nid=004&ltype=1

Summary: Lotte Super, a leading supermarket store chain in Korea, has submitted an application to the Fair Trade Committee recently to switch the Market 999, a ‘dollar store’ launched in 2009, to a franchise retail business.  If the FTC approves the transition, Lotte Super will start recruiting franchisees.  Market 999 is positioned as a low price retail outlet that sells most of the products at fixed price under 1,000 won.  Currently Lotte Super runs some 50 of the stores, and the transition to a franchise management should quickly add many new stores.

2. OTHER MISCELLANEOUS ISSUES

Independent Importers Oppose Government Plan to Import Raw Sugar Directly through aT [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2012030430041&sid=0104&nid=004&ltype=1

Summary: Korean government announced last month a plan to import table sugar directly through the Agricultural Marketing Corporation (aT) under the Ministry of Agriculture.  Although the plan intends to pressure local sugar processors to lower the price, independent importers of sugar are arguing that the plan will drive the importers  out of business.  According to the industry, there are some 30 importers that import a total of 50,000 metric tons of table sugar into Korea.  Imported table sugar is about 12 percent cheaper than locally processed sugar.  Three Korean sugar processors produce 1.3 million tons of table sugar each year, and 0.9 million tons of it are locally consumed and 0.4 million tons are exported.

3. aT PUBLIC NOTICE OF STATE TRADING

Buckwheat Buying Tender Invitation held on March 12, 2012:

Fresh Garlic Tender Invitation:

Bidding Date:- P1 : 15:00, Mar, 8, 2012(KLT) / - P2, P3 : 15:00, Mar, 12, 2012(KLT)