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Food News Clipping

April 29, 2013

2013.04.29

FAS/Seoul Monitoring of Media Reporting on Agricultural Issues

Today's Date: Monday April 29, 2013

For Coverage: April 25 - 29, 2013

1. MARKETING ISSUES

Prices of Many Imported Agricultural & Fishery Products Surge in Grocery Stores [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013042578141

Summary: Prices of many imported agricultural and fishery products sold in local retail stores have shown significant increases recently. According to Lotte Mart, prices of imported products it offers have increased 10 to 50 percent in the first quarter this year compared to same season last year, including Russian frozen Pollack (55%), Russian King crab (20%), Chinese octopus (47%), Philippines banana (33.6%), Chilean grapes (22.5%), and Australian chuck eye roll (15%). E Mart, another leading retail store chain in Korea also reported similar price increases. Marketers point out that higher demand on these products around the world is a key reason for the price increase.

Korean Corporations Spent 1.4 Trillion Won ($1.3 Billion) of Amusement Expenses in Drinking Places in 2012 [Korean, OSY]

http://news.donga.com/3/all/20130428/54768043/1

Summary: According to a report by Korea Tax Office, Korean corporations spent a total of 1.4 trillion won (about $1.3 billion) of amusement expenses in drinking places in 2012. Beverage companies, including alcohol beverage processors showed the highest amusement expenditure per sales revenue by spending 0.95 percent of total sales revenue for amusement expenses followed by pharmaceutical companies (0.75 percent) and printing companies (0.62 percent).

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 report".

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