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Food News Clipping

May 02, 2011

2011.05.02

FAS/Seoul Monitoring of Media Reporting on Agricultural Issues
Today's Date:   Monday May 02, 2011
For Coverage:  May 01 - 02, 2011
 

 

1. BILATERAL/MULTILATERAL ISSUES

 

ROKG withdraws KORUS FTA Bill [Korean: BYK]

http://www.ktv.go.kr/ktv_contents.jsp?cid=381403

Summary: The Korean government held a cabinet meeting and decided to withdraw the KORUS FTA bill that has been pending at the National Assembly.  The government will correct the mistranslations found in the originally proposed bill and resubmit it to the National Assembly for ratification.  The Government plans to complete the retranslation in May 2011.

 

Floor leader for GNP states that he will try his best to pass the Korea-EU FTA bill on May 4th [Korean: BYK]

http://www.asiae.co.kr/news/view.htm?idxno=2011050210142449121

Summary: Floor leader Moo Sung Kim for the ruling Grand National Party stated that he will do his best to pass the Korea-EU FTA in May.  He explained that he hopes to pass the bill on May 4th, which was the day proposed by the opposition party.

 

2. LIVESTOCK ISSUES

 

NVRQS to test for formalin in milk products [Korean: BYK]

http://www.nongmin.com/article/ar_detail.htm?ar_id=187021&subMenu=articletotal

Summary: NVRQS to check for residues of formalin in drinking milk products.  Formalin is a substance that is not permitted for use in milk products.  NVRQS will collect samples from all 4 major milk producers in Korea and plan to complete the test by May

 

3. MARKETING ISSUES

 

Absolut Elyx to hit shelves in September

http://www.koreatimes.co.kr/www/news/biz/2011/04/123_86124.html

Summary: Pernod Ricard Korea said it will launch new vodka product in September to diversify its portfolio. ¡°We plan to launch super-premium vodka called Absolut Elyx in September,¡± said Franck Lapeyre, CEO of Pernod Ricard Korea during an interview with The Korea Times, Thursday. Absolut Elyx is small-batch vodka, produced according to craft techniques, in an authentic 1929 copper rectification still. The company is boastful of the new vodka. ¡°It has a clean and fresh taste with subtle floral and fruity tones,¡± the company said. Pernod Ricard Korea plans to diversify its non-whiskey spirits to meet various customers¡¯ desire. It aims to develop new categories, such as Absolut, The Glenlivet, Mumm et Perrier Jouet, in line with new consumer trends. Introducing Absolut Elyx is a part of the strategy. To create Absolut Elyx, the company returned to the roots of vodka making, while still addressing contemporary demands of traceability and innovation. It sourced the finest wheat and water, and put a 1929 rectification still back into use.
 

 

Korean whisky market up for 'premiumization'

http://www.koreatimes.co.kr/www/news/biz/2011/04/123_86125.html

The chief executive officer of Pernod Ricard said Thursday that the French-based global company sees the Korean market as mature for its diverse premium spirits. ¡°The strategy is to go for premium products,¡± said Pierre Pringuet during an exclusive interview with The Korea Times in a Seoul hotel. Pringuet coined the word ¡°premiumization.¡± He said Korea is already consuming a growing volume of premium and super-premium products, so the company is ready to satisfy those customers with various products and new spirits. The bureaucrat-turned-businessman said that Korea is one of the key markets in Asia for the world¡¯s leading liquor company.¡°Korea is probably one of the top six countries for our products. When you include duty free, it probably is one of the top five,¡± he said. Franck Lapeyre, CEO of Pernod Ricard Korea agreed with him, saying that the Korean unit will focus more on premium brands. ¡°If you look at premium whisky segments, which are 17-year-olds and 21-year-olds, these segments are growing. They are growing by double digits,¡± he said.

Korea to designate small-firm-only biz

http://koreatimes.co.kr/www/news/biz/biz_view.asp?categoryCode=123&newsIdx=85728

Korea¡¯s large corporations may have to quit businesses such as tofu and red-pepper paste as the government is set to come up with a list of markets suitable for just smaller firms.The Commission on Shared Growth for Large and Small Companies (CGS) held a hearing Friday to decide what items will be included in the list for smaller companies with the aim of wrapping up the work as soon as possible. According to sources markets whose size are between 100 billion and 1.5 trillion won as well as those involving more than 10 small-sized firms would meet the requirements for small-firm-only businesses. The general expectations are that traditional foods, sauces, tofu, tire recapping and metal crafts would make it to the final list.

 

 

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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Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921
Email: atoseoul@state.gov