Today's Date:     Monday, January 30, 2012

1. BILATERAL/MULTILATERAL ISSUES

Candle light protest against KORUS FTA held in Seoul [Korean: BYK]

http://news.khan.co.kr/kh_news/khan_art_view.html?artid=201201291043161&code=940100

Summary: Around 500-700 members of the National Peoples’ Movement for Blocking the KORUS FTA gathered in Chungye river bank and called for the scrapping of the KORUS FTA.  It also stated that it will remember the names of the 151 Assemblymen that voted in favor of the KORUS FTA and will receive judgment during the upcoming April elections.

Jeju citrus to face fatal blow when Korea-China FTA is implemented [Korean: BYK]

http://www.nongmin.com/article/ar_detail.htm?ar_id=198199&subMenu=articletotal

Summary: The Korea Rural Economic Institute estimated that the Jeju citrus industry could face a fatal blow when the Korea-China FTA is implemented.  It estimated that the citrus production in Jeju would drop up to 164.4 billion won in 10 years after the implementation.

FTA unfinished business for outgoing NZ envoy [English: BYK]

http://www.koreatimes.co.kr/www/news/special/2012/01/176_103635.html

Summary: New Zealand Ambassador to Korea Richard Mann wrapped up his three-year posting here with a small farewell reception with colleagues, local staff and friends at the New Zealand Embassy in Seoul, Thursday.  Mann said re-starting free trade negotiations was his top priority as New Zealand’s chief representative in Korea, and it remains unfinished business.  FTA talks started in earnest in 2009 with four rounds concluded in quick succession, but momentum fizzled out the following year. The last round was in 2010.

Trade Minister Stresses need for FTA with China [English: BYK]

http://www.koreatimes.co.kr/www/news/biz/2012/01/123_103633.html

Summary: DAVOS, Switzerland (Yonhap) -- Korea's trade minister stressed the need to sign a free trade agreement (FTA) with China, as the deal will help Seoul attain its goal of becoming a global free trade hub and lure more foreign investment.  "As South Korea has FTA deals with the U.S. and the European Union, it would be a right move to clinch additional FTAs with China and Japan," Bark Tae-ho, the country's new trade minister, said in an interview with Yonhap News Agency here on Saturday.  "There might be little benefit from a potential FTA with Japan for now, but there is the need to clinch a free trade pact with China, even though it would be a low level deal," said Bark, who is now visiting this Swiss resort town to attend a global trade ministers' meeting held on the sidelines of the World Economic Forum.

2. LIVESTOCK ISSUES

MIFAFF Minister Visits Beef Processing Plant [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=102&oid=003&aid=0004311851

Hotel Shilla to Withdraw from Bakery & Cafe Shop Business … Reflects Public Sentiment Against Big Corporations’ Taking Over of Small Businesses [Korean, OSY]

http://news.donga.com/Economy/New/3/01/20120127/43583528/1

Summary: Hotel Shilla, a leading luxury hotel chain in Korea under the umbrella of Samsung Group, announced on January 26 that it would withdraw from bakery and café retail business.  Hotel Shilla has opened many bakery/café shops in metropolitan areas under ‘Artise’ brand over the last couple of years.  Hotel Shilla commented that the decision was to accommodate increased public concern about big corporations’ taking over of small retail businesses.

Japanese gov’t Gives Up Hukusima At Last [Korean, OSY]

http://news.donga.com/Inter/3/02/20120128/43610351/1

Summary: Japanese government announced on January 27 that it will exclude 92 square kilometers of area in Hukusima province from its radioactive contamination removal plan as no technology currently available will be able to reduce the radioactive radiation level below what is acceptable for human life, 20mSv.  92 square kilometers is about one third of the area in Hukusima that was contaminated by the explosion of nuclear power plants last year.

Fair Trade Committee Approves Emart’s Takeover of SM Mart [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/01/27/0318000000AKR20120127038951003.HTML

Summary: Emart, the leading hypermarket store chain in Korea, announced on January 27 that the Fair Trade Committee had approved its purchase of SM Mart, a regional grocery supermarket chain that runs 28 stores.  The takeover will increase the total number of ‘Super Supermarket (SSM)’ stores under Emart to 100, including 19 Everyday stores and 53 Kim’s Club Mart stores, providing a strong food hold for the company to expand SSM business.

4. OTHER MISCELLANEOUS ISSUES

Pistachio for Big Full Moon Day [Korean Photo News, OSY]

http://news.donga.com/3/all/20120126/43579265/1

Summary: Lotte Mart is offering a special sales promotion of California pistachio for the upcoming ‘Big Full Moon Day’.  Koreans have a long tradition of eating various tree nuts such as walnut, chestnut and pine nut, on ‘Big Full Moon Day’ (January 15 on the lunar calendar) as a symbol of praying for good teeth health for the coming year.  ‘Big Full Moon Day’ comes on February 6 this year.

Wine Outsells Soju in Hypermarket Stores, the Second Half 2011 [Korean, OSY]

http://news.donga.com/Economy/New/3/01/20120129/43639455/1

Summary: Lotte Mart, a major hypermarket store chain, reported that sales of wine amounted to 14.3 billion won in the second half 2011, which was higher than Soju sales (14.2 billion won) for the first time. Emart, the leading hypermarket store chain, also reported bigger wine sales than Soju sales during the period. 

Ministry of Agriculture to Input 140 Billion Won of Funds to Support Local Aquaculture Industry [Korean, OSY]

http://news.donga.com/Economy/New/3/01/20120129/43639455/1

Summary: Ministry of Agriculture, Fishery, and Food announced that it would provide the local aquaculture industry with 140 billion won of support funds, which will help the industry to achieve 1.5 million tons of products this year, up 100,000 tons from last year.  The support funds this year have also increased significant from last year, 89 billion won.

5. MIFAFF PRESS RELEASES

► MIFAFF Minister to visit National Ag. University and meet with its graduate students