Market Information   >   Food News Clipping

Food News Clipping

June 29, 2011

2011.06.29

FAS/Seoul Monitoring of Media Reporting on Agricultural Issues
Today's Date:  Wednesday June 29, 2011
For Coverage: June 27 - 29, 2011
 
 

1. BILATERAL/MULTILATERAL ISSUES

 

Korea-EU FTA to Drop Retail Price of European Wine in Korea 5 to 15 Percent [Korean, OSY]

http://news.mk.co.kr/v3/view.php?sc=30000017&cm=%B1%E2%BE%F7%A1%A4%B0%E6%BF%B5%20%C1%D6%BF%E4%B1%E2%BB%E7&year=2011&no=407232&relatedcode=&sID=501

Summary: Effectuation of Korea-EU Free Trade Agreement is only a few days away.  Suppliers and importers are reportedly busy adjusting retail price of related goods, reflecting reduction of import tariffs.  Keumyang, a leading wine importer, plans to reduce retail price of its European wines by 11 percent on average.  Other importers have announced similar reduction in retail price. 

 

Korea-EU FTA will Reduce Cost of Food Expenditure ¡¦ Belgium Frozen Pork Belly Cut will get Cheaper to 1,000 KRW per 100g ¡¦ Italian Wine will get 13 Percent Cheaper after FTA [Korean, OSY]

http://news.donga.com/Politics/New/3/00/20110629/38389625/1

Summary: Korea-EU FTA is scheduled to take effect on July 1.  Many imported European products, including agricultural products, will get cheaper in Korea as a result.  For example, pork belly cut meat from Belgium, currently subject to 25 percent import tariff, will get cheaper as the tariff will be phased out over 10 years.  European cheese and wine will also get cheaper.  36 percent of import tariff on cheese will be phased out over 15 years, and 15 percent import tariff on wine will be removed immediately.

 

2. MARKETING ISSUES

 

Sales Promotion of Local Fresh Blueberries in E-Mart [Korean, OSY]

http://news.donga.com/Economy/New/3/01/20110627/38357151/1

Summary: Sales of local fresh blueberries started in E-Mart on June 27.  Sale price was 3,900 won per 100 gram.
 

 

CJ to Become the Largest Logistics Service Company in Korea ¡¦ CJ Won Bid for Daehantongwoon [Korea, OSY]

http://news.donga.com/Society/New/3/03/20110629/38389791/1

Summary: CJ won the bid for Daehantongwoon, the largest logistics service company in Korea.  CJ offered 215,000 won per share, much higher than market price, in the bid, beating the contender POSCO-Samsung consortium who offered 191,500 won per share.  CJ already owns CJ GLS, the second largest logistics service company in Korea.  

 

3. OTHER MISCELLANEOUS ISSUES

 

Jeju Island to Have Its Own Beer [Korean, OSY]

http://news.donga.com/3/all/20110607/37832951/1

Summary: Jeju province is putting efforts together to create the first beer made in the island.  The project, that will cost the provincial government 32 billion KRW of funds, aims to commercially launch a high quality beer by 2013.  Barley for the beer will be local Jeju origin, according to the Jeju beer research center.  Boris Mezones, a Spanish brew master hired for technical consulting, says Jeju beer will be quite unique in taste due to the clean water of the island.  The first prototype product developed by the research center is scheduled to be tasted in July 2011.

 

 

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¡±.

View List >

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