Korea & US to Hold Talks to Discuss Details for Effectuation of FTA [English, CSY]

http://www.arirang.co.kr/News/News_View.asp?nseq=123315&code=Ne2&category=2

Full text: Korea and the US have begun discussions to set the details for bringing the Korea, US free trade agreement into effect.  Korea's trade ministry said Monday that trade officials from both countries, were expected to meet in Washington on Monday, for two days, in order to finalize the deal's implementation process.   For now, the two sides are hoping to see the accord, come into effect, starting January next year.   This comes after President Lee Myung-bak, signed a package of deals needed, to implement the FTA last week.  The trade deal is known to be Washington's biggest free trade pact, since it signed deals with Canada and Mexico in 1994.

Korea to begin FTA negotiations with Indonesia and Vietnam[Korean: BYK]

http://news.etomato.com/Home/ReadNews.aspx?no=205564

Summary: Minister Jae Wan Park let a meeting among Ministries related to Foreign Affairs and Economy on December 6^th.  During the meeting, the Minister and attendees discussed means for expanding the trade with southeast Asian nations.  The plan to begin to negotiate a bilateral FTA with Indonesia and Vietnam came out as one of the options for expanding trade with these nations.

Democratic Party hold discussions on how to nullify the KORUS FTA [Korean: BYK]

http://www.mt.co.kr/view/mtview.php?type=1&no=2011120711088270113&outlink=1

Summary: The Democratic Party held discussions on December 7^th on what kind of follow-up activities that the party should pursue to nullify the KORUS FTA.

Will Korean Ag Exports Increase, due to KORUS FTA [Korean: BYK]

http://www.nongmin.com/article/ar_detail.htm?ar_id=196161&subMenu=articletotal

Summary: The prospects for increased export of agricultural products to the United States is low, due to non-tariff barriers being imposed by the United States.  According to a report put out by aT, total agricultural exports to the United States is expected to rise by $5 million, while imports is projected to increase by $436 million.

Trilateral FTA among Korea, China and Japan getting ready to move into full speed [Korean: BYK]

http://www.asiatoday.co.kr/news/view.asp?seq=566873

Summary: MOFAT announced that it was holding the 7^th Joint Study meeting in Pyeongchang from December 14 to December 16.  This meeting is the last joint study meeting and will adapt the final joint study report.  Once this takes place, the three countries will discuss the dates for the beginning of the actual negotiations.

Grand National Party to discuss additional agricultural support [Korean: BYK]

http://news.chosun.com/site/data/html_dir/2011/12/08/2011120801141.html

Summary: The Grand National Party has decided to hold discussions on providing an additional 320 billion won support as part of the compensation for the farmers that may suffer from KORUS FTA.  This package will include ▲dropping the interest rate for policy loans from 3% to 1% ▲ increased target price and compensation rate for rice farmers ▲ changing large swine breeding farms into an export enterprise ▲ establishing laws related to lending agricultural machineries and cyber agriculture

2. ECONOMIC ISSUES

S. Korea's food, agriculture exports jump to new high in Nov. [English, CSY]

http://english.yonhapnews.co.kr/business/2011/12/06/48/0501000000AEN20111206009600320F.HTML

Full text: South Korea's exports of food and other agricultural products surged to a new monthly high for the year last month, largely on growing demands from Japan and China, the government said Wednesday.     The country shipped US$654.9 million worth of food and agricultural products in November, up 15.1 percent from the same month last year, according to the Ministry of Food, Agriculture, Forestry and Fisheries.     In the first 11 months of the year, South Korea exported $6.6 billion worth of food and agricultural products, already surpassing the $5.88 billion for the whole of 2010.    "Exports to newly emerging countries continued to grow throughout the year with exports to China growing 43.8 percent (on-year) and the Association of Southeast Asian Nations (ASEAN) surging 38 percent," the ministry said in a press release.     As of the end of November, the number of countries that have purchased over $100 million worth of products from South Korea this year came to 11, the largest ever in history, it added.  Exports to Japan have also grown 24 percent so far compared to all of 2010, exceeding $2 billion for the first time since 1999, according to the ministry.   "At the current pace, the country's exports to Japan will likely reach an all-time high this year," it said.

Food, agriculture exports jump to new high in November [English, MGF]

 http://www.koreatimes.co.kr/www/news/biz/2011/12/123_100291.html

Korea's exports of food and other agricultural products surged to a new monthly high for the year last month, largely on growing demands from Japan and China, the government said Wednesday.   The country shipped $654.9 million worth of food and agricultural products in November, up 15.1 percent from the same month last year, according to the Ministry of Food, Agriculture, Forestry and Fisheries.

3. LIVESTOCK ISSUES

Second case of iCJD discovered in Korea [Korean: BYK]

http://www.ytn.co.kr/_ln/0103_201112081025401305

Summary: A person that had brain surgery using artificial endocranium imported from Germany in 1988 was confirmed as having been infected with iCJD.  This is the second patient that was diagnosed as an iCJD patient in Korea.

France promotes ham in Korea [Korean: BYK]

http://www.fnn.co.kr/content.asp?aid=5b20ee7ba78f48209a4ed305ce891c8d

Summary: A delegation from the French Pork Council visited Korea and announced that it was going to promote their pork products to Korea.  This is the first time that a delegation from the council visited Korea since the Korea-EU FTA went into enforcement.  The council will focus their promotional activities on processed pork products.

Korea confirms second case of Creutzfeldt-Jakob disease [English, MGF]

http://www.koreatimes.co.kr/www/news/biz/2011/12/113_100374.html

Korea's health authorities on Thursday confirmed the country's second case of Creutzfeldt-Jakob disease (CJD), a degenerative neurological disorder.  The report of the country's second-ever iCJD case comes after a 54-year-old woman was found last month to have died from the same disease that is often transmitted by the use of defective prion proteins found in surgical tissue graft products.The animal form of the disease is called bovine spongiform encephalopathy (BSE) which is commonly called mad cow disease. BSE also leaves holes in the brain that resemble a sponge.

Pork Belly Cut Meat (Sam-Gyup-Sal) Was the Top Selling Item in Leading On-line Market [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/12/08/0318000000AKR20111208105500017.HTML

Summary: Auction (www.Auction.co.kr), the largest on-line market in Korea announced on December 8 that Sam-Gyup-Sal (pork belly cut meat) was the top selling item in the market through this year with 1 million transactions.  Auction explained that reduced supply of local pork meat due to Food & Mouth Disease outbreak has generated a strong demand for imported pork meat on the on-line channel.

4. MARKETING ISSUES

Four out of Ten Koreans will be Silver Generation Over 65 Years Old by 2060, National Statistics Office [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/12/07/0301000000AKR20111207077300002.HTML?template=2087

Summary: National Statistics Office (NTS) forecasted in its recent report that the silver generation over 65 years old will account for 40.1 percent of total population in Korea by 2060, which is four times larger than the current level, 11 percent.  On the other hand, youth population under 15 years old will decline from the current 16.1 percent down to 10.2 percent.  Total Korean population is forecast to hit the record high of 52 million in 2030, and then on a gradual decline down to 44 million in 2060.

Dongwon Seafood Partners with Leading Japanese Lunch Box Company to Establish a Lunch Box Business in Korea [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/12/07/0318000000AKR20111207117600003.HTML

Summary: Dongwon Seafood, the leading seafood processor in Korea, signed a joint investment deal with Plenus, the largest lunch box company in Japan, on December 7  to establish YK Food Service, a lunch box business in Korea.  Plenus currently has 2,500 lunch box restaurants in Japan.  YK Food Service will develop a chain of lunch box restaurants (take out outlets) in Korea under Plenus’s ‘Hotto Motto’ brand.  It is reported that the total market size of lunch box sales in Korea is about 2 trillion won, including 0.7 trillion of lunch box sales in convenience store segment.

Korean Housewives Pick ‘Local Ingredients’ over ‘Price’ for Key Decision Factor when Purchasing Processed Foods[Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2011120562451&sid=0104&nid=004&ltype=1

Summary: According to a survey by Daesang, a leading processed food manufacturer in Korea, Korean housewives picked ‘local ingredients’ over other factors as the most important decision factor when they purchase processed food products.  54.6 percent of the housewives surveyed mentioned that they look for products made of ‘local ingredients’, followed by ‘safety certificates’ (15.2 percent), ‘large, well-known manufacturers’ (15.2 percent), and ‘price’ (13.9 percent).

Average Import Price of Wine was Only 4,300 Won Per Bottle This Year … But Most of Them are Retailed at Several Times Higher Prices [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/12/08/0301000000AKR20111208115800002.HTML?template=2089

Summary: According to the Korea Customs Office, total wine imports this year amounted to $105 million through October, up 18.4 percent from the same period last year.  Average import price of the wine per 750 ml bottle was only $3.8 (about 4,300 won).  However, retail price of these imported wines are reportedly several times higher than the import price.

5. OTHER MISCELLANEOUS ISSUES

Ruling party in deep turmoil - 3 senior members resign but chairman Hong refuses to quit [English, MGF]

http://www.koreatimes.co.kr/www/news/nation/2011/12/116_100332.html

The ruling Grand National Party (GNP) Chairman Hong Joon-pyo said Wednesday he was willing to resign from his position to take responsibility for the party’s defeat in the Seoul mayoral election and the National Election Committee (NEC) hacking sandal.  “I am ready to quit the post, if that is what party members want,” he said during a meeting with GNP members. To that end, he cited the need for a confidence vote from the 169 party lawmakers.

Is ruling party heading to breakup? [English, MGF]

http://www.koreatimes.co.kr/www/news/biz/2011/12/113_100365.html

As a strong sense of crisis is weighing on the Grand National Party (GNP), prompted by the resignations of key lawmakers from their posts, now all attention is on the ruling party’s destination. Experts share the notion that the governing party will face growing upheaval ahead of the crucial general election in April and presidential vote in December.

DP: New Opposition Party Leadership to be Elected in Open Primary [English, MGF]

http://english.kbs.co.kr/News/News/News_view.html?id=Po&No=86572

The main opposition Democratic Party's committee in charge of negotiating the party's merger with other opposition forces has decided to elect the leadership of a consolidated party through an open primary.

Seoul To Conduct Restaurant Inspections [English, MGF]

http://tbsefm.seoul.kr/eNews/news.do?method=efmNewsInfo&n_idx=54556&currentPage=3

Health and sanitation inspectors are conducting checks on family and traditional restaurants in Seoul today. The Seoul Metropolitan Government says over 120 businesses will be subject to the inspections ahead of year-end celebrations and holiday gatherings. Businesses in violation of food safety laws will face punishment, including a possible suspension of business license, and the establishment's information will be publicly posted on the Internet.

Famous Japanese Infant Formula ‘Meiji’ Tested Positive for Radioactive Material [Korean, OSY]

http://news.donga.com/Society/New/3/03/20111207/42418317/1

Summary: Japanese press reported on Dec. 6 that infant formula made by ‘Meiji’, a leading Japanese food manufacturer, tested positive for Cesium, a radioactive material.  It was the first case that Cesium was found in an infant formula since the explosion of Hukusima nuclear power plant earlier in March this year.  Meiji has started an urgent recall on the 400,000 cans of the product made from the same factory.  Some of the products have reportedly been imported into Korea.

6. MIFAFF PRESS RELEASES

► National Agriculture and Fisheries University begin to receive applications for new freshmen.

► MIFAFF to publish booklet containing photos of Korean fishing ports

► Saemahngum Seawall is safe…there are no  concerns for collapsing

► MIFAFF establishes system for fostering seed industry

► MIFAFF to hold exhibition on fishery product traceability at COEX (Dec. 9-11)

► MIFAFF refutes report that Korea had imported infant formula from Japan that is contaminated with cesium. 

► MIFAFF Minister presents awards to superior seeds

► MIFAFF announced plan for fostering the seed industry

► Korean agricultural exports exceed $6.6 billion as of end of November 2011.