FAS/Seoul Monitoring of Media Reporting on Agricultural Issues

Today's Date: Friday September 19, 2014

For Coverage: September 1 ~ 19, 2014

1. MARKETING ISSUES

Homeowners are Consuming Less [English, HYD]

http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=2995014&cloc=joongangdaily|home|newslist2

Homeowners became more cautious about their spending from 2011 through 2013, mainly due to concerns over mortgage debt and the diminishing value of their property, according to a report released by the Bank of Korea (BOK) yesterday.  Statistics Korea found that more than 70 percent of households with homeownership have outstanding debts.  But people who rent their homes showed a lower rate, of 66.6 percent for those with jeonse (large lump-sum payment on rental property instead of monthly payments) and 56.2 percent for people who pay monthly rent.

Gov’t plans food production zone to serve China [English, HYD]

http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=2994327

As Chinese concerns over food safety have grown, the Korean government is taking the opportunity to expand its agricultural and packaged food exports to its neighbor, particularly since many Chinese consider Korean products to have high safety standards.  Last month, seven Singaporean food companies including CHC, Tai Hua and Chye Choon signed an agreement with the government to become part of a cluster of food businesses called Foodpolis, in Iksan, North Jeolla.

Korea's On-line Trade Deficit Expands ... $685 Million in 2013 [Korean, OSY]

http://news.donga.com/3/all/20140917/66476825/1

Summary: According to Korea Customs Office, Korea had $685 million of trade deficit in the on-line trade in 2013, a big surge from $218 million in 2010.  Marketers point out that due to excessive government regulations, Korean on-line retailers are not able to service potential orders from customers in foreign countries. 

Obesity Increases Sharply Among Young Koreans [Korean, OSY]

http://news.donga.com/3/all/20140916/66425682/1

Summary: Korea National Healthcare Institute (NHI) reported on September 5 that the number of people with obesity problem amounted to 550,000 in 2014, a sharp increase from 142,000 in 2002.  NHI pointed out that increase of the obesity problem was most outstanding among young people in their 20's and 30's.  NHI assessed that the reason for the obesity among the young people was larger exposure to western style unbalanced diet, including fast foods.

Lotteria Opens 200th Stores in Vietnam [Korean, OSY]

http://news.donga.com/3/all/20140902/66182025/1

Summary: Lotteria, a leading hamburger fast food restaurant chain in Korea, announced that its 200th store in Vietnam opened on September 2.  Lotteria added that it currently operates larger number of stores in Vietnam compared to other international players, including McDonald's (2 stores) and KFC (137 stores).  Lotteria said it would continue to open additional stores in the coming months.  Lotteria entered the Vietnamese market 16 years ago.

Stumptown, A Premium American Café Chain to Open Its First Store in Seoul [Korean, OSY]

http://news.donga.com/3/all/20140901/66155989/1

Summary: Stumptown, a premium café chain based in Portland, OR plans to open its first store in Seoul on September 15.  Stumptown offers coffee brewed from beans that receive 80 point or higher score from SACC (Specialty Coffee Association of America).