1. BILATERAL/MULTILATERAL ISSUES

Gov't submits Peru FTA ratification bill to parliament [English, CSY]

http://english.yonhapnews.co.kr/business/2011/06/07/96/0502000000AEN20110607009200320F.HTML

Full text : The government submitted the South Korea-Peru free trade pact ratification bill to the National Assembly on Tuesday, the trade ministry officials said.  South Korea and Peru signed the bilateral free trade agreement (FTA) on March 21. The countries struck the deal in August last year.  Peru is the second South American country with which South Korea has inked such a trade pact, following Chile, which signed a similar trade deal in April 2003.  The Ministry of Foreign Affairs and Trade of South Korea found and corrected 145 translation errors in the Korean-language text of the country's free trade deal with Peru from March to the end of May.  Translation errors found in an FTA between South Korea and the European Union (EU) earlier prompted the Seoul government to reexamine the local language versions of the country's free trade deals with the United States and Peru.  "The government hopes that the South Korea-Peru FTA ratification bill will be passed in June's extra session of the National Assembly and take effect as soon as possible," an official at the ministry said.

2. BIOTECHNOLOGY ISSUES

Korea to foster domestic green energy market  [English, CSY]

‘Korea’s global green energy market share that stands at just 1.2 percent will go up 15-fold in the next 20 years.’

http://joongangdaily.joins.com/article/view.asp?aid=2937269

Summary: Korea will seek to grab 18 percent of the global green energy market by 2030 by developing key technologies and creating a favorable domestic environment, the government said yesterday.  The new road map calls for concentrated efforts in 15 eco-friendly research and development (R&D) areas in order to enhance industrial competitiveness and help create more jobs, the Ministry of Knowledge Economy said.   The areas that will be built up are solar and wind power generation, fuel cells, bio-fuel, integrated gasification combined cycle and power storage. Nuclear power, green cars, smart grids and clean thermal power production will also be developed.