Market Information   >   Food News Clipping

Food News Clipping

June 2010

2010.07.02

 

1. Bilateral/Multilateral Issues

2. Biotechnology Issues

3. Economic Issues

4. Grain/Oilseed Issues

5. Livestock Issues

6. Marketing Issues

7. North Korea Issues

8. Other/Miscellaneous Issues

 
 
 

U.S. senators campaign for Korea free trade deal [English, CSY]

http://joongangdaily.joins.com/article/view.asp?aid=2921327

Summary: A group of Republican senators have called on President Barack Obama to set a timeline for ratification of pending free trade agreements with South Korea, Panama and Colombia to help create jobs.

 

A letter sent to Obama by Orrin Hatch (R-Utah) and 15 other senators said the ratification of the trade pacts ¡°would be the catalyst for significant economic growth and job creation in the United States.¡±   The senators urged Obama to ¡°propose a specific timeline for the enactment of these FTAs,¡± saying that it would be ¡°in the United States¡¯ best interest to stimulate our economy by opening new foreign markets to our nation¡¯s products and services, creating countless jobs.¡±

 

Dreaming of an Asian market bloc [English, CSY]

[News Analysis] Relations between Japan and China are too chilly for a bilateral trade pact, but with Korea in the mix, a three-way FTA may be possible, some analysts say.

http://joongangdaily.joins.com/article/view.asp?aid=2921260

summary: A trade agreement between two of the world¡¯s three biggest economies plus Korea would create one of the largest markets on earth. The three nations make up over 16 percent of international trade and contain 22 percent of the world¡¯s population. If a three-way FTA becomes a reality, the result would be one of the three biggest economic blocs in the world, along with the European Union and the North American Free Trade Agreement, which together make up 40 percent of international trade.

 

Colombia FTA talks begin Monday here [English, CSY]

http://joongangdaily.joins.com/article/view.asp?aid=2921607

Full text: Korea and Colombia will hold their third round of free trade negotiations next week, Seoul¡¯s Ministry of Foreign Affairs and Trade said yesterday.  During the five-day meeting to be held in Seoul starting Monday, both sides will discuss issues such as services and investment, according to the ministry. Both sides held their first round of FTA talks in Seoul in December. Their bilateral trade reached $922 million in 2009, with Korea¡¯s exports to the South American country reaching $797 million, according to the ministry.  Korea¡¯s main export items include cars and electronic goods, and it imports coffee and resources, such as coal and nickel, from Colombia.

 

EU Intends to Ratify the Korea-EU FTA by the End of this year [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=100&oid=001&aid=0003325124

Summary: A Representative from EU Congress visiting Korea stated that the EU has intentions to compete the ratification of the FTA between EU and Korea before the end of this year.  It will complete the translation by the end of August and begin review of the agreement from September.

 

Korea-Mexico FTA Talks Expected to Resume [English, CSY]

http://english.chosun.com/site/data/html_dir/2010/06/14/2010061400808.html

Summary: Free trade negotiations between Korea and Mexico that were temporarily suspended two years ago are expected to resume in the near future.  According to a government source, the leaders of the two countries will discuss the resumption of bilateral trade talks when President Lee Myung-bak visits Mexico in late June.

 

[Columns] Chinese FTA a bittersweet prospect [English, CSY]

The way the government presents a Chinese FTA - not its content - will determine whether the candlelight vigils are repeated.

http://joongangdaily.joins.com/article/view.asp?aid=2921749

 

Ambassador Suk Young Choi appointed as the new Ambassador for FTA negotiations [Korean: BYK]

http://news.mk.co.kr/outside/view.php?year=2010&no=308710

Summary: Ambassador Suk Young Choi, former Ambassador for the DDA negotiations, has been appointed as the new Ambassador for FTA negotiations.

 

Korea and Turkey to discuss FTA [Korean: BYK]

http://www.ktv.go.kr/ktv_contents.jsp?cid=342498

Summary: During the Turkish President¡¯s visit to Korea, President MB Lee and the Turkish President agreed to begin discussions on establishing a FTA between the 2 nations.  They also agreed to enhance the cooperation in the energy sector such as constructing a new nuclear power plant for producing electricity in Turkey.  

 

Korea-Vietnam to Hold Working Level Talks for FTA [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=003&aid=0003303456

Summary: Korea and Vietnam will hold a joint working-level talks for establishing an FTA between the two nations.  The talks will be held from June 23 to June 24 in Seoul.  This first round of joint talks will review the basis and feasibility for prompting the actual FTA talks.  Both nations target mid-2011 for finalizing the FTA.

 

U.S. business lobby supports Obama's plans for KORUS FTA ratification [English, CSY]

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Summary: The biggest U.S. business lobby Saturday welcomed President Barack Obama's plans to submit to Congress the pending free trade agreement with South Korea early next year for ratification.

                     

Korea, China to Start FTA Talks in Fall [English, CSY]

http://english.chosun.com/site/data/html_dir/2010/06/24/2010062400245.html

Full text:Seoul and Beijing will likely begin proper free trade negotiations early next year, Trade Minister Kim Jong-hoon told the Chosun Ilbo on Wednesday.  "The two governments can start preliminary talks around September on sensitive items" such as automobiles and agriculture. Despite China's estimate that preliminary talks will take about six months, "it'll be possible to finish them quickly if everything proceeds smoothly," he added.

 

"Korea is sensitive about agro-fisheries products and China about industrial products like cars and IT goods," Kim said. "In preliminary talks, the two countries will discuss which of the target goods should be treated as sensitive items."

 

The ultimate goal is to establish a free trade zone in East Asia involving Korea, China and Japan by concluding a free trade agreement with them, he added.  Commenting on the Korea-U.S. FTA bill, which has been epically delayed in the U.S. Congress, Kim said, "My visit to the U.S. in May gave me the impression that Congress is unlikely to ratify the FTA before mid-term elections there in November." But he pointed out that a group of congressmen has been stressing the importance of the trade pact for American business.

 

S. Korea, Panama agree to boost trade, economic ties [English, CSY]

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South Korea and Panama agreed Monday to forge a bilateral free trade agreement (FTA) at an early date and expand economic partnership.

 

MB sells out beef and auto industry [English, CSY]¡¡

http://english.hani.co.kr/arti/english_edition/e_entertainment/427803.html

Full text: President Lee Myung-bak is disguised as a rice cake seller and the mother of a son and daughter in a thatched house. The rice cake seller holds a rice cake labeled ¡°the delay of the transfer of wartime operational control¡± and says to a tiger representing the U.S. President Barack Obama, ¡°I am going to give you this rice cake, then you should prey on the brother and sister over there.¡±

 

The siblings represent the beef and automobile industries in South Korea are startled to hear what their mother is saying.  This situation is a parody of the traditional fairy tale ¡°the brother and sister become sun and moon.¡±  President Lee and President Obama announced Saturday that the shift of wartime operational control will be delayed until 2015. Some experts have speculated that President Lee made concessions in the U.S.-South Korea Free Trade Agreement. He has been criticized for making the deal through closed-door diplomacy without consulting government officials.

 

S. Korea not to revise free trade deal with U.S. [English, CSY]

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Summary: South Korea will not amend a free trade accord with the United States, Seoul's top trade official said Wednesday, as the two countries are set to hold talks to iron out remaining issues with the deal.

 

Don¡¯t leave us hanging [English, CSY]

http://joongangdaily.joins.com/article/view.asp?aid=2922426

Summary: President Barack Obama says he is ready to move forward with the pending free trade agreement with South Korea. This is the first time Obama has set a deadline for the bilateral trade pact, which has been deadlocked since it was signed in 2007 due to protests from unions and politicians in the two countries. Obama told President Lee Myung-bak that supplementary talks to hammer out differences would be done in a ¡°methodical fashion¡± to ensure that ¡°everything is lined up properly¡± by the time he visits Seoul in November for the next G-20 Summit. He also said he intends to present a modified package to Congress a few months later.

 

Lee eyes more FTAs with Latin America [English, CSY]

http://www.koreaherald.com/national/Detail.jsp?newsMLId=20100629000593

 

Signing of Free Economic Trade Agreement between China and Taiwan Alerts Korean Traders [Korean, OSY]

http://article.joins.com/article/cnn/article.asp?Total_ID=4280397

Summary: China and Taiwan singed an agreement on June 28 that the two countries will lower or abolish import tariffs on the trade between them (ECFA), which will provide many Taiwanese companies and products with open access to China market.  Korean traders and market analysts are showing a serious concern on ECFA because Korean companies and products are likely to loose some market shares in China due to ECFA.  It is likely that ECFA will encourage Korean government and industry to move orward with Korea-China free trade agreement agenda.

 

 

S. Korea in Biodiesel Blend Ratio Dilemma [Korean, CSY]

http://kr.news.yahoo.com/service/news/shellview3.htm?linkid=197&ac=view&pid=sok&articleid=20100618101143700e6

Summary: S. Korea postponed the announcement of government¡¯s research on Renewable Fuel Standard (RFS) system, which includes the mandatory blending ratio of biofuels in regular transportation fuels. S. Korea planned to announce the result of the RFS research in April this year but it delayed in August due to the expected burden on government¡¯s budget under the current tax breaks for biofuels.  

 

None

 

 

Big food processors such as CJ, Orion and Lotte will kick off makkoli (rice wine) business next month.  (Korean: CSC)

http://www.hankyung.com/news/app/newsview.php?aid=2010061406181

Summary: CJ obtained a distribution permit handling special liquor from the National Tax Administration in May to participate in the makkoli business in cooperation with local makkoli producers.   Lotte and Jinro, who have played major role to export makkoli, plan to join the competition of domestic markets.   Makkoli market is expected to grow to one trillion Korean won in 2012 from the current forecast of 0.55 trillion Korean won this year.  

 

¡°Rice Direct Payment is needed to reform¡± in the debate for the Direction of Financial Strategies for Agricultural Sector held by the MOSF and KDI on June 16, 2010. (Korean: CSC)

http://www.hankyung.com/news/app/newsview.php?aid=2010061723991

Summary: Current Direct Payment for Rice Income Compensation has imbalanced rice supply and demand, taking a third of total agricultural budget.  A reform of the Direct Payment is necessary to focus on promoting agriculture in paddy land instead of stabilizing rice income.   

 

Urgent measures to dispose of old rice stock are required. (Korean: CSC)

http://www.nongmin.com/article/ar_detail.htm?ar_id=175788&subMenu=articletotal

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=100&oid=001&aid=0003341550

Summary: Consecutive bumper rice crops made rice stocks reached at 1.4 million metric tons as of end October 2010.  Government needs to solve the problem of heavy stocks prior to new crop harvest.  Farmers are concerned about the price of new crop that will be bearish by the heavy stocks.   The Minister of Agriculture revealed his plans to dispose of about 570,000 metric tons of old rice (from 2005 through 2008 crops) for food and liquor processing in the Agriculture, Fishery and Food Committee of the National Assembly.     

 

5. Livestock Issues

 

US call for full access to Korea¡¯s beef market to spark backfire [English, CSY]

http://www.koreatimes.co.kr/www/news/nation/2010/06/113_67042.html

Summary: The U.S. government is accused of having double standards in its policies with Korea ¡ª it is trying to further open the local beef market while delaying ratification of the free trade agreement (KORUS-FTA) the two signed. The Senate passed a resolution this week, which urges Korea and six other nations to provide full market access to American beef ¡ª Korea imports U.S. beef products from cattle less than 30 months of age due to concerns about mad cow disease.

 

S. Korea mulling bilateral beef talks with Canada [English, CSY]

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Summary: South Korea is considering bilateral talks with Canada to resolve the beef import issue that is currently being deliberated at the World Trade Organization (WTO), officials here said Friday. South Korea banned the import of Canadian beef in May 2003, when mad cow disease was reported there. Canada, which received a "controlled risk" status from the Paris-based World Organization for Animal Health in 2007, has been demanding Seoul lift the ban.

 

U.S. beef is no longer tasty beef that you can purchase at cheap price [Korean: BYK]

http://www.mdtoday.co.kr/mdtoday/index.html?no=131236

Summary: You cannot purchase tasty U.S. beef at low prices anymore.  This is due to increased demand despite of low supply.  According to USMEF, ¡°U.S. beef prices are increasing due to increased demand.  However, rather than stating that U.S. beef prices are high, it would be more accurate to state that the prices have returned to normal levels from the discounted prices during the low demand period after the candlelight demonstrations.¡±

 

U.S. Beef Imports Soars; Pork Imports Drops [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=100&oid=001&aid=0003326694

Summary: USDA data showed that U.S. beef exports to Korea had jumped 39 percent during the first four months of 2010, compared to the same period in 2009.  During the same period U.S. pork exports to Korea dropped 28 percent.

 

S. Korea lifts livestock movement restrictions [English, CSY]

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Summary: South Korea has lifted all restrictions on the movement of livestock in the country after no new cases of foot-and-mouth disease were reported in more than a month, the government said Friday. An outbreak of the highly contagious animal disease was confirmed on April 8 in a county 58 kilometers west of Seoul, prompting the government to limit the movement of livestock in an effort to prevent its spread.

 

U.S. beef Accounts for 97.1 Percent of Beef that Failed to Pass Quarantine Inspection  [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=102&oid=003&aid=0003301190

Summary: According to National Assemblyman, Bum Koo CHUNG of the Democratic Party, 57.1% of the imported beef that failed to pass quarantine inspection were from the United States.  Among those imported beef that failed to pass inspection because it had deteriorated, 97.1% was from the United States

 

S. Korea must brace for additional livestock disease outbreaks: quarantine service [English, CSY]

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Summary: South Korea must prepare for possible foot-and-mouth outbreaks later this year since the highly contagious livestock disease is being reported across Northeast Asia, the state animal quarantine service said Wednesday.  The National Veterinary Research and Quarantine Service (NVRQS) said that while the country is effectively "clear" of the disease after the last outbreak was confirmed on May 6, conditions in neighboring China and Japan require close attention.

 

Government agencies debate price-fixed milk [English, CSY]

http://joongangdaily.joins.com/article/view.asp?aid=2922159

Summary: Korea¡¯s antitrust body and the agriculture ministry are at odds over the handling of suspected price fixing for packaged milk by dairy companies. The Fair Trade Commission is investigating whether dairy companies have been involved in cartel price fixing, but the Ministry for Food, Agriculture, Forestry and Fisheries has asked the FTC to take into account special circumstances of the dairy industry. The FTC has been looking into whether dairy companies fixed prices after dairy farmers raised the price of raw milk in 2008. The antitrust agency is also examining whether they colluded in raising the price of milk supplied to schools.

 

Beef and automobile are two key issues to overcome prior to FTA ratifications [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=001&aid=0003354182

Summary: The resumption of beef from cattle over 30 months old is one of the two key issues that need to be addressed prior to sending the KOPRUS FTA bill to the Congress.  However, as the import protocol calls for allowing beef from older animals when the confidence level for U.S. beef has recovered, it is not sure how both governments will determine whether the confidence level has been recovered or not.

 

Canada formally requests for bilateral negotiations on Canadian beef import to Korea [Korean: BYK]

http://news.hankooki.com/lpage/economy/201006/h2010062722593121500.htm

Summary: Canada has formally requested Korea to hold bilateral negotiations on resuming its beef exports to Korea during the period July 13-14, 2010.  The Korean government is basically agreeable to the talks between the two nations.

 

MIFAFF states that beef is not subject to the FTA negotiations [Korean: BYK]

http://imnews.imbc.com/replay/nwtoday/article/2649844_5782.html

Summary: MIFAFF stated that ¡°The import of U.S. beef is an issue that has to do with sanitation and quarantine inspection.  The negotiators from both countries know that beef is not subject to the FTA negotiations.¡±  MIFAFF also added that ¡°In order for beef from cattle over 30 months to be imported, it must undergo a deliberation by the National Assembly.  Even before this, the consumers¡¯ confidence level must be recovered.¡± 

 

A total of 1,627 places found to be in violation of beef traceability system. [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=001&aid=0003354182

Summary: According to the National Agricultural Products Quality Management Service (NAQS), it has inspected a total of 71,423 business entities and has found 1,627 places that had violated the beef traceability system.  The type of violations found were: false labeling 747 places; no labeling 791 places and 89 places that failed to maintain records. 

 

Two people that demonstrated against U.S. beef subject to 1 million won fine [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=102&oid=001&aid=0003349230

Summary: The court ordered two people that had demonstrated in front of a shop selling U.S. beef in 2008 to pay a fine of 1 million won, each.  These two people were sued for disturbing the businesses of the shops

 

Broiler price surged in the World Cup Fever [Korean, CSY]

http://www.asiae.co.kr/news/view.htm?idxno=2010062806475212962

Summary: Local chicken price in June surged during the World Cup event. The Korea Chicken Council reported that the farm price in June recorded 4,369 Korean won per Kilogram, which is 26.8 percent higher than the same period in 2009 at 3,446 Korean won due to the increased chicken demand.

 

Trade Minister Jong Hoon Kim, ¡°KORUS FTA - Korea will not import beef from over 30 month old cattle.¡±[Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=003&aid=0003316731

Summary: As for the issue of U.S. beef imports, Trade Minister Kim stated in his briefing that he did not see the discussions on adjustment to go to the extent of importing beef from over 30 month old cattle.  Kim analyzed that ¡°Although the Congress is thinking that we should allow beef from over 30 month old cattle, we can not predict what kind of proposal the U.S. administration will come out with.  Under the current situation where the level of market penetration in Korea is better than other countries, I don¡¯t think Korea is in a situation where Korea should be targeted as a country subject to discontent.¡±  Trade Minister Kim stated that the discussions are not new discussion as the United States had indicated but rather a working level discussion.  He indicated that he would be the person responsible for the working level discussions. 

 

Lee administration considers expansion of U.S. beef imports [English, CSY]

Experts say measures implemented after the 2008 candlelight vigil demonstrations may be sacrificed for ratification of the KORUS FTA

http://english.hani.co.kr/arti/english_edition/e_national/428005.html

 

 

Affordable Alternatives, Cold Weather, Rebuilding of Consumer Demand, Foreign Products – 4 Key Words of the Consumption Trends in the First Half, Shinsegae E-Mart [Korean, OSY]

http://kr.news.yahoo.com/service/news/shellview.htm?articleid=2010060818051020140&linkid=4&newssetid=1352

Summary: Shinsegae E-Mart announced the 4 key words that represent the consumption trends in the first half of this year based on the sales data from its 127 stores:

1. Affordable alternatives: consumers spent more money on affordable alternatives.  For example, sales of lower quality pork meat more than doubled in the first quarter while sales of high quality ¡°branded¡± pork meat remained sluggish.

2. Cold weather: sales of local fruits and fish showed a big decline due to poor harvest under the unusually cold weather in spring.  On the other hand, sales of imported fruits and preserved fish increased 42% and 16% respectively.

3. Rebuilding of Consumer Demand: products that reflects economic recovery showed good sales growth.  Sales of TV, organic food, and gift sets for Lunar New Year¡¯s Day rose 52%, 23% and 15% respectively.

4. Foreign Products: sales of imported products in general from cosmetics, clothing, to food showed good sales growth because consumers were looking for better value and new taste.

 

City Gov¡¯t of Seoul to Implement Ingredient Origin Labeling on Home Delivery Foods by Restaurants[Korean, OSY]

http://kr.news.yahoo.com/service/news/shellview.htm?linkid=441&articleid=20100610110716250h3&newssetid=5

Summary: S.H. Oh, Mayor of Seoul, announced on June 9 that the ingredient origin labeling regulation will be expanded to home delivery foods by restaurants.  Mr. Oh stressed that this expansion will help the restaurant provide safer food to the citizens.  Fried chicken and pizza are likely to be the first target of the regulation.

 

Fair Trade Committee to Monitor Price Differentials of 30 Key Consumer Goods, Including Milk, Bottled Water, and Ice Cream, between S. Korea and Reference Foreign Countries [Korean, OSY]

http://news.donga.com/3/all/20100622/29302041/1

Summary: Fair Trade Committee (FTC) announced on June 22 that it will monitor and disclose price differentials of 30 key consumer goods, including milk, bottled water, ice cream, beer, vitamins, and cigarette, between South Korea and reference foreign countries.  H.Y. Jung, head of FTC, added that the government will also seek regulatory reforms if necessary to maintain the price of key consumer goods at an affordable level.

 

¡®Manufacturer¡¯s Recommended Retail Pricing¡¯ Policy to be Abolished on Ice Cream, Instant Noodle, and Snack Products from July [Korean, OSY]

http://news.donga.com/Economy/Market/3/0108/20100629/29475998/1

Summary: Manufacturers will not be allowed to label ¡®recommended retail price¡¯ on ice cream, instant noodle, and snack food products from July.  ¡°Switching to an ¡®open pricing¡¯ policy will encourage further price competition among retailers, which will benefit consumers eventually¡±, commented Mr. Joong-Ho Jang, executive director of Shinsegae E-Mart.  However, market analysts believe that it will be large-scale retailers who will benefit most from the open pricing policy because retailers will have more influence on the price of products sold in the store.

 

Shinsegae E-Mart Launches www.emartmall.com [Korean, OSY]

http://news.donga.com/Economy/Market/3/0108/20100630/29505741/1

Summary: Shinsegae E-Mart, the leading hypermarket retailer in Korea, launched new internet shopping mall, www.emartmall.com, with an aggressive goal to earn $1 trillion won of sales from the site by 2012.  Byung-Ryul Choi, president of E-mart said in a press interview on June 28 that the new E-mart internet shopping mall will have bigger emphasis on fresh produce and agricultural products unlike other internet grocery sites, which in general are focused on non-food consumer goods.  E-Mart¡¯s plan is to obtain 60 percent of the sales from fresh agricultural products.  The E-Mart internet mall will also strengthen home delivery service by increasing the number of delivery cycles to up to 10 times per day.  Customers will also be able to choose an option of picking up the internet orders at E-Mart stores.

 

7. North Korea Issues

None

 

8. Other/Miscellaneous Issues

 

S. Korea, China to crack down on illegal fishing along NLL [English, CSY]

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Summary: South in the Yellow Sea, the Seoul government said Tuesday.    The Ministry for Food, Agriculture, Forestry and Fisheries said that under the latest agreement, Chinese boats will face "dual punishment" for operating without permission near the Northern Limit Line (NLL) and for other serious offenses, including resisting arrest.

 

Korea ranks 40th in food exports [English, CSY]

http://www.koreatimes.co.kr/www/news/biz/2010/06/123_66827.html

Summary: Despite its sizable market, Korea ranks 40th in terms of food and food ingredient exports. In a recent study conducted by Professor Lee Jung-hee of Chung-Ang University, Korea exported food worth $3.04 billion in 2007, making it 40th among the 71 countries that were surveyed.  The same survey showed Korea's market size for processed food and food ingredients was the 13th largest at $35.31 billion in 2007, up from $25.6 billion or 15th overall in 2003.

 

Fruit farmers struggle to survive after frost [English, CSY]

With peaches, plums, apples in short supply, imports surge

http://joongangdaily.joins.com/article/view.asp?aid=2921264

Summary: The culprit was the unusually low temperatures that struck the nation early this year. Damage from unfavorable weather conditions was particularly severe for trees whose fruit ripen in summer.

  

Garlic Price Likely to Decline Temporarily since Gov¡¯t will Release 11,000 tons of Imported Garlic in August [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2010062437321&sid=0101&nid=002

Summary: To stabilize soaring garlic price, which currently retails at two times higher level compared to regular years, gov¡¯t has decided to release into the market 11,000 tons of imported garlic under TRQ program in August.  aT will announce exact TRQ volume next week.  Landing cost of the TRQ garlic after import tariffs and shipping fees is expected to be 3,500 won per kg, which is about two times higher than last year¡¯s TRQ but still 25 percent lower than current market price.  However market analysts expect that the price of garlic will remain high throughout the year, because, despite the TRQ imports, the market will still be short of some 50,000 tons of garlic in the second half.

 

Gas Stations to be Allowed to Operate ¡®Drive In¡¯ Fast Food Restaurants from July 2010 [Korean, OSY]

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Summary: Regulation Reform Committee has come up with 72 deregulation proposals, including allowing gas stations to operate ¡®drive through¡¯ fast food restaurants.  Changes in related regulations are likely to take effects as early as from July.

 

Arable land converted to roads, factories surge in 2009 [English, CSY]

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Summary: The size of arable land in South Korea that was converted into roads, railroads and factories rose sharply in 2009 as the country moved to build up its social and industrial infrastructure, the government said Monday.  The Ministry for Food, Agriculture, Forestry and Fisheries said that the size of paddies, fields and orchards converted for non-farming purposes surged 24.5 percent on-year to 22,680 hectares.

 

Jeju University to develop Bio-ethanol from Jeju Citrus [Korean, CSY]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=001&aid=0003354480

Summary: Jeju University announced that the Ministry of Knowledge & Economy (MKE) to support 0.6 billion Korean won to the Jeju University to develop bio-ethanol production technology from Jeju citrus for 3 years. The Jeju Citrus Bio-energy Task Team will develop the technology for bio-ethanol production from byproduct and low grade Jeju citrus.   

 

Per Capita Income of S. Koreans to Recover $20,000 Level This Year [Korean, OSY]

http://economy.donga.com/0113/3/0113/20100629/29475862/3

Summary: According to a report by the Ministry of Planning & Finance released on June 28, South Korean¡¯s per capita GNI (Gross National Income) was expected to recover $20,000 level this year.  South Korean¡¯s per capita GNI remained under $20,000 level in 2008 and 2009 after reaching a record high $21,659 in 2007.

 

Korea will be Short of 3.3 Billion Tons of Water in 50 Years [Korean, OSY]

http://economy.donga.com/total/3/01/20100629/29476095/3&top=1

Summary: According to a report by the Ministry of Land & Ocean, Korea will be short of some 3.3 billion tons of water every year in 50 years from now due to the climate change.  The report pointed out that dipolization of rain fall, which brings more concentrated down falls between extended periods of droughts, under the on-going global warming will result in serious shortage of water resources in Korean peninsula if not counteracted properly in advance.

 

S. Korea's food price growth rate 3rd highest in OECD: report [English, CSY]

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Summary: South Korea's food price increase rate in May was found to be the third highest among leading world economies, a report by the Organization for Economic Cooperation and Development (OECD) said Wednesday.  The Paris-based organization said in its latest consumer price report that South Korean food prices rose 2.9 percent on-year in May, the third-highest gain among its 31 members after 7.2 percent for Iceland and 6.7 percent for Turkey.

The information in this report was compiled by the Agricultural Trade Office (ATO) at the U.S. Embassy in Seoul, South Korea.  U.S. food exporters can learn more about market opportunities in South Korea by reviewing ATO Seoul¡¯s Exporter Guide , Retail Food Sector Brief , and other reports available at www.fas.usda.gov by clicking on ¡°attache reports¡±.

 

 

 

 

 

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Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921
Email: atoseoul@state.gov