FAS/Seoul Monitoring of Media Reporting on Agricultural Issues
Today's Date: Monday August 22, 2011
For Coverage: August 19 - 22, 2011
1. MARKETING ISSUES
Leading Hypermarket Chains in ‘Crab War’ [Korean, OSY]http://news.donga.com/Economy/Market/3/0108/20110819/39667346/1
Summary: Local live crab is an important product to local retail stores in August through September. As the crab season for this year is about to start, leading hypermarket store chains are reportedly in war to sell more crab. In particular, Shinsegae E-Mart and Lotte Mart are competing to offer the crab at lower price. Both retailers have been using newspaper advertisements as a tool to attract consumers to the store. So far both retailers have offered the same price, 950 won per 100 gram of crab.
E-Mart to Develop Half Million Sq. Meter Space Distribution Warehouse in Ansung, Gyunggi-do [Korean, OSY]
Summary: Shinsegae E-Mart announced on August 22 that it has signed a MOU with Gyunggi province government to develop a new distribution warehouse in Ansung-si, Gyunggi-do. The size of the land that Gyunggi province provided to Shinsegae is half million sq. meter space, which is the largest land space ever used for a distribution warehouse. E-Mart said the warehouse will start operating in March 2014.
2. OTHER MISCELLANEOUS ISSUES
Korean Government to Subsidize Farmers for Loss from FTA [Korean, OSY]http://news.donga.com/Economy/New/3/01/20110819/39667353/1Summary: Korean government announced on August 19 a revised farm subsidy plan to compensate loss from free trade agreements. According to the plan, government will spent a total of 22.1 trillion won until 2017.
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”.
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