GNP To Call For Committee Of The Whole House [MGF]

http://www.tbs.seoul.kr/eNews/news.do?method=efmNewsInfo&n_idx=52716&currentPage=2

The Grand National Party is using procedural maneuvering to try and pass the US free trade bill, as opposition lawmakers try and physically block a parliamentary committee from deliberating the bill. The National Assembly's Foreign Affairs, Trade, and Unification Committee chair Nam Kyeong-pil says the GNP will call for, what is known as, a Committee of the Whole House either today or tomorrow. A Committee of the Whole House can convene by a request from more than a quarter of the National Assembly and is often used to discuss legislation before it is put to a floor vote by the parliament's speaker. The move, however, only allows the committee to deliberate on the issue and not vote on it. Nam says the move will give lawmakers the opportunity to openly state their positions on the FTA before the nation.

Fears Growing of Physical Clash over FTA Bill on Wed. [MGF]

http://world.kbs.co.kr/english/news/news_Po_detail.htm?lang=e&id=Po&No=85715&current_page=

Fears of a physical clash at the National Assembly are growing over the passage of the pending South Korea-U.S. free trade agreement (FTA).  The ruling Grand National Party (GNP) is reportedly mulling ways to handle the trade deal on Wednesday after deliberating on a budget bill. The GNP has replaced some of its members of the parliamentary committee on foreign affairs, trade and unification with young lawmakers to prepare for any physical confrontations that might erupt when the GNP seeks to push forward the FTA bill.

DP Wants Promised Renegotiation of ISD Provision in FTA [MGF]

http://world.kbs.co.kr/english/news/news_Po_detail.htm?lang=e&id=Po&No=85695&current_page=

Main opposition Democratic Party Floor Leader Kim Jin-pyo says the DP will only help pass the South Korea-U.S. free trade agreement if President Lee Myung-bak promises to propose to U.S. President Barack Obama at the upcoming G20 Summit a renegotiation of the investor-state dispute provision in the trade deal.

National Assembly To Hold General Session Amid FTA Confrontation [MGF]

http://www.tbs.seoul.kr/eNews/news.do?method=efmNewsInfo&n_idx=52779 

The National Assembly is scheduled to convene a full session this afternoon, amid ongoing confrontations between opposing lawmakers over the pending US free trade bill. Floor leaders from both ruling and opposition parties met yesterday to discuss the controversial investor-state dispute, or ISD, settlement provision in the FTA bill, but were unable to narrow their differences. Opposition party lawmakers continue to occupy the parliament's foreign affairs and trade committee room for a third day in a row in protest of the bill. Meanwhile, sources say the Grand National Party is planning on requesting the speaker of the National Assembly, Park Hee-tae, to exercise his authority and introduce the bill during today's general session.

US FTA Bill Sent To Assembly Committee [MGF]

http://www.tbs.seoul.kr/eNews/news.do?method=efmNewsInfo&n_idx=52778

The National Assembly's Foreign Affairs, Trade, and Unification committee has submitted the long-pending US free trade bill despite strong resistance from opposition party lawmakers. Committee chairman Nam Kyeong-pil and other Grand National Party members side-stepped the opposition by holding a trade committee meeting in an annex to the main conference room yesterday, after Democratic and Democratic Labor party lawmakers physically blocked GNP from entering. The controversial bill will now be sent to the main floor of the Assembly for a vote, although a timetable for that vote has yet to be determined

S. Koreas Small Merchants Call For KORUS FTA Safety Net [MGF]

http://www.tbs.seoul.kr/eNews/news.do?method=efmNewsInfo&n_idx=52765&currentPage=2

Korea's small merchants and retailers have appealed for a stronger legal safety net against earnings losses they expect to suffer when the Korea-US free trade agreement goes into effect. In a press conference today, the Korea Federation of Retailer Organization said that while exporters and big companies may benefit from the FTA, conditions for smaller businesses will likely get worse. The federation called for new legislation to create a special fund to help small and medium enterprises and called for rules to prevent big conglomerates and foreign companies from entering areas that are suitable for smaller businesses.

2. LIVESTOCK ISSUES

 Korean Beef Eating Day [MGF]

http://www.koreatimes.co.kr/www/news/biz/2011/11/115_97798.html

Officials of the National Agricultural Cooperative Federation, or Nonghyup, and local associations of Korean livestock farmers served Korean beef to citizens in a ceremony marking “Korean Beef Eating Day” in central Seoul, Tuesday.

3. MARKETING ISSUES

60 Percent of Consumer Spending was Made on Credit Cards in the First Half [Korean, OSY]

http://news.donga.com/Economy/Money/3/0102/20111031/41539345/1

Summary: According to the Korea Bank & Credit Association, 60 percent or 193.6 trillion won of the total consumer spending in Korea in the first half of this year was made on credit cards. 

E-Mart Closes 6 of Its Stores in China [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2011110101611&sid=0104&nid=004&ltype=1

Summary: E-Mart sold 6 of its 27 stores in China last month to a local Chinese retailer.  E-Mart’s original plan was to sell 10 stores in a group deal, but the Chinese retailer did not want to buy those stores that were underperforming.  E-Mart’s business in China has made significant loss continuously for the last three years, and more stores are likely to be offered for sale.

E-Mart finds local suitor to buy stores on mainland [English, KJH]

http://koreajoongangdaily.joinsmsn.com/news/article/html/566/2943566.html

Summary: A Chinese retailer said yesterday it will buy six stores in China owned by Korea’s leading discount store chain E-Mart as the Korean company seeks to restructure its Chinese business. By 2015, E-Mart aims to increase the number of its stores in China to 45, following the restructuring of stores that have been making losses.

4. OTHER MISCELLANEOUS ISSUES

Korean Air to Carry 1,400 Tons of Beaujolais Nouveau Wine into Korea This Month [Korean, OSY]

http://news.mt.co.kr/mtview.php?no=2011110110040750007&type=1

Summary: Korean Air reported that total amount of Beaujolais Nouveau wine it has contracted to air ship to Korea is 1,400 metric tons.  Beaujolais Nouveau wine is offered to wine consumers around the world at midnight on the third Thursday of November every year.  Korean Air has assigned 14 B747-400F flights to handle the volume.