1. BILATERAL/MULTILATERAL ISSUES

Blue House shows intention of involvement in TPP [Korean: LSH]

http://joongang.joins.com/article/184/12762184.html?ctg=

Summary:  Korean government showed interest in participating Trans-Pacific Strategic Economic Partnership (TPP).  As many TPP signed nations are also members of APEC, the government understands that it will contribute to strengthening Asia-Pacific economic ties.  In fact, if Korean government’s participation is confirmed, the economic cooperation becomes the world largest multilateral trade agreement, consisting 38% of global GDP and 28% of international trade.  Although nothing has been officially declared, many expect that the Korean government will give a positive response to the partnership.  One task that the Korean government must consider is that Korea’s participation in TPP might bring isolation of China’s economy.  Before finalizing the decision, there are diplomatic and economic issues that President Park needs to resolve beforehand.  The issue of participation will be on the table in the upcoming APEC conference in Indonesia.

2. BIOTECHNOLOGY ISSUES

CCEJ states,”Only 9 items out of 130,000 tons of imported GMO processed food products are labeled GMO last year.” [Korean, LSH]

http://www.fnnews.com/view?ra=Sent1001m_View&corp

Summary: It is reported by the Citizens´ Coalition for Economic Justice (CCEJ) that among 25 items and 13,000 tons of imported GMO processed food products, only 9 products were labeled as GMO.  Three major importing companies all left out the GMO labeling on 1,077 products that they sold and produced.  CCEJ asserted that the regulation for full GMO label disclosure and a record of transparent tracking must be implemented in order to relieve worries of consumers.

3. LIVESTOCK ISSUES

Hanwoo and Beef Cattle Breeding Scale Decreases for the First Time in 10 Years [Korean, LSH]

http://www.seoul.co.kr/news/newsView.php?id=20131007016020

Summary: Domestic Hanwoo and beef cattle breeding scale showed decreasing trend after 10 years of continuous rise.  Oversupply has been a major problem this year, but the supply is expected to decrease.  According to the Korea Rural Economic Institute (KREI), the number of raised Hanwoo and beef cattle reached 3,060,000 in 2012 but it will decrease to 2,850,000 this year due to government’s reduction plan and decline in number of calves.  The government must pay attention to protecting price from rising and balance out supply and demand.

4. MARKETING ISSUES

More Koreans Develop Taste for Sparkling Water … Samsung Launches Refrigerator that has Sparkling Water Dispenser [Korean, OSY]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=020&aid=0002477122

Summary: Samsung Electronics launched new refrigerator line on October 1 that has sparkling water dispenser.  According to the industry, sales of bottled sparkling water is showing a rapid growth as more Korean consumers develop taste for it.  Sales of bottled sparking water increased 30 percent to 13 billion won in 2012.  Local beverage companies are making efforts to introduce additional products.  For example, Lotte Chilsung Beverage recently added ‘Trevi Lemon’ to its existing line of bottled sparkling water under the ‘Trevi’ brand.

Japan Plans to Bring Korea to WTO for Banning Imports of Seafood from 8 Japanese Provinces [Korean, OSY]

http://news.donga.com/3/all/20131007/58046918/1

Summary: Japanese government is reportedly planning to file a trade dispute case against Korea in the coming WTO SPS Committee meeting, October 16-17.  Korea has banned imports of seafood from 8 provinces in Japan earlier in September for radioactivity risk.  Japan has claimed that Korea’s trade restriction lacks scientific evidence.

Paris Baguette Opens 3 New Stores in Manhattan, N.Y. … Plans to Increase the Stores in the U.S. to 1,000 by 2020 [Korean, OSY]

http://www.seoul.co.kr/news/newsView.php?id=20131008019010

 

Photo: New Paris Baguette Store on 40^th Street in Manhattan, N.Y.C.

Radioactivity Contamination Found in Japanese Food Products from Provinces Approved for Exporting to Korea [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013100708661

Summary: Mr. JK In, Korean national congressman reported on October 7 that Japanese Health Ministry’s tests found radioactivity contamination in 17 seafood and processed food products supplied from Japanese provinces that were not included in the list of “risky” Japanese provinces announced by the Korean government in September 2013.  Korean government banned imports of seafood products from 8 risky Japanese provinces as well as processed food products from 13 risky provinces earlier this year.  Congressman In claimed that the Korean government’s safety measure is seriously flawed.