Today's Date:   Tuesday January 15, 2013

1. ECONOMIC ISSUES

Exchange Value of Japanese Yen Against Korean Won Falls to the Lowest Level in 32 Months … Likely to Impact Korea Export/Import Industries [Korean, OSY]

http://news.donga.com/3/all/20130112/52235783/1

Summary: The exchange rate of Japanese yen against Korean won marked 1,186 won per 100 yen on January 11, which was the lowest level since May 2010.  Over the last couple months, Japanese yet lost about 10 percent of its value against Korean won.  There is a serious concern arising in the market that many of the Korean products competing against Japanese products in world market would lose price competitiveness.  At the same time, Japanese products imported into Korea would become cheaper.

2. MARKETING ISSUES

Korea to Rely More on Imported Fish … Reduced Catch in Local Sea … Fish Price Likely to Continue a Rise [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013011036281

Summary: According to Korea Customs Office, imports of fish into Korea totaled $2.9 billion in 2012 from January through November.  Strong imports of fish is mainly due to reduced catch in local seas.  However, supply from foreign seas is also experiencing difficulties mainly due to reduced fishing quotas in Russian waters, growing consumption in China, and radioactive concerns in Japanese fish.  As a result, price of fish in local market is likely to continue a rise.

K-Pop Star Psy to Appear in ‘Pistachio’ Advertisement, NFL Super Bowl 2013 [Korean, OSY]

http://news.donga.com/3/all/20130112/52234892/1

Summary: Wonderful Pistachio announced on January 11 that K-Pop star ‘Psy’ will appear in its advertisement that will air during the half-time of NFL Super Bowl 2013. 

RFID Readers Required in Bars [Korean, OSY]

http://news.donga.com/3/all/20130115/52315975/1

Summary: National Tax Office (NTS) announced that its regulation that mandates bars to equip RFID readers was taking effect on January 14.  Consumers would be able to easily check the authenticity of whiskeys sold in bars by using the RFID reader provided by the bar or by a cell phone application developed by NTS.