1. BILATERAL/MULTILATERAL ISSUES

 

EU FTA will boost green energy sector [English, CSY]

http://joongangdaily.joins.com/article/view.asp?aid=2938677

Summary: The free trade pact with the European Union that went into effect this month is expected to fuel growth for Korea’s renewable energy industry, a report by a think tank said yesterday.   The Institute for International Trade said that the immediate lowering of tariffs, which reach up to 3.3 percent, will give companies in such areas as solar energy and wind power generation a clear advantage over rivals in Japan and China that have been eyeing the lucrative EU market.

 

Opposition lawmakers call for renegotiation of KORUS FTA [English, CSY]

http://english.yonhapnews.co.kr/business/2011/07/09/0502000000AEN20110709001200320.HTML

Summary: A group of lawmakers affiliated with South Korea's main opposition party submitted a resolution on Saturday calling for the renegotiation of a free trade deal with the U.S.  In the resolution, the 10 lawmakers of the Democratic Party said the free trade pact awaiting parliamentary approval in both countries should be renegotiated in order to reflect a balance of interest.

 

Korea's Natl. Assembly's Hearing on KORUS FTA Ends Up Being Half Empty [English, CSY]

http://www.arirang.co.kr/News/News_View.asp?nseq=117935&code=Ne2&category=2  

Full text: Meanwhile, the trade committee at Korea's National Assembly held a public hearing on Friday to discuss the Korea-US FTA.  However, those opposed to the trade deal refused to show up saying it is meaningless to hold discussions when there is no room for negotiation.  The ruling Grand National Party has been trying to speed up the process to get the FTA ratified as is before the end of August, while the main opposition Democratic Party has criticized the GNP for trying to ratify a deal that is too much in America's favor.   Those who did attend stressed that although some domestic industries could be negatively affected there will still be more positive outcomes than negative.  A member of the DP said, however, that without hearing from those who will be affected by the deal, the hearing was simply a political show.

 

2. GRAIN & OILSEED ISSUES

 

S. Korea hikes grain self-sufficiency target [English, CSY]

http://english.yonhapnews.co.kr/business/2011/07/10/0501000000AEN20110710002900320.HTML

Summary: South Korea will push to significantly raise the self-sufficiency rate of grain products over the next few years to counter high food prices and food security concerns, officials said Sunday.   South Korea plans to locally supply 30 percent of its overall grain consumption by 2015, revising up its earlier target of 25 percent set in 2006, the Ministry for Food, Agriculture, Forestry and Fisheries said.

 

ROKG Plans Higher Self-sufficiency for Agricultural Product [Korean, OSY]

http://news.donga.com/3/all/20110710/38696927/1

Summary: The Ministry of Agriculture has announced new self-sufficiency plan for food and agricultural products.  The plan aims to achieve 30 percent self-sufficiency rate on food and feed products, which is 5 percent point higher than the previous policy plan developed in 2006.  The Ministry stated that over 10 trillion won of budgets will be spent through 2020 to achieve the new goal.

 

 

 

Imported prices of beef, pork jump in June [English, CSY]

http://english.yonhapnews.co.kr/business/2011/07/08/0502000000AEN20110708003900320.HTML

Summary: Prices of imported beef and pork in South Korea jumped in June from a year earlier, adding to growing inflationary pressure in Asia's fourth-largest economy, the customs office said Friday.  According to data provided by Korea Customs Service, the prices of imported beef stood at 7,652 won (US$7.2) per kilogram, up 14.6 percent from a year earlier.

 

[Reader’s Letters] Make beef rating system very simple and clear [English, CSY]

http://joongangdaily.joins.com/article/view.asp?aid=2938655

Full text: The Korea JoongAng Daily’s June 12 editorial, “Grading beef from A to E,” was very interesting. I can’t forget my first experience buying high-quality Korean beef. The beef grading system was so complicated that I spent too much time pondering what to buy. I still don’t understand why the Korea Institute for Animal Products Quality Evaluation (KAPE) puts the “A++” and “A+” ratings above an “A.”   The government’s new solution, to be implemented this month, is still confusing.   The main purpose of grading beef is to support consumers’ right to clearly know the quality of beef, not to give producers benefits. The KAPE must make the rating system simple and clear because classifying beef from A to E is the perfect way to rate it.    ---  Sue H. Kim, a Seoul resident

 

4. MARKETING ISSUES

 

Shinsegae Department Store Sells ‘Less Stressed’ Chicken [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/07/09/0318000000AKR20110709036500003.HTML

Summary: Shinsegae Department Store announced on July 10 that it would sell 2,000 heads of special chicken until July 14 that were raised under less stressful environment, which according to the store met the Freedom Food standard set by the RSPCA.  For example, the unit cage space was about 10 birds per sq. meter, over two times larger than conventional practice.

 

5. OTHER MISCELLANEOUS ISSUES

 

Price of Local Fresh Blueberries Plunges …. U.S. Blueberries to Land in Korea Next Month [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2011070789171&nid=004&sid=0104

 

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 reports”.