1. BILATERAL/MULTILATERAL ISSUES

Parliament to vote on U.S. FTA ratification Monday [English, HYD]

http://www.koreaherald.com/national/Detail.jsp?newsMLId=20111023000237

Summary: The Korean parliament is expected to vote on the ratification of a free trade pact with the U.S. on Monday, after a last round of discussions over the long-delayed deal.  The U.S. Congress passed the deal as President Lee Myung-bak was visiting Washington for summit talks with President Barack Obama earlier this month.  While Lee and his Grand National Party have been stepping up efforts to follow Washington in securing parliamentary approval as soon as possible, liberal opposition parties maintain adjustments must be made to clauses they claim are in favor of the U.S.

Assembly Panel to Hold Final Debate on FTA [English, MGF]

http://world.kbs.co.kr/english/news/news_Po_detail.htm?No=85477&id=Po

The National Assembly Foreign Affairs and Trade Committee will hold its final discussion on the ratification of the South Korea-U.S. free trade agreement on Monday. During the talks, supporters and opponents of the FTA will give a speech on the disputed areas of the trade deal for an hour each and then exchange opinions for an additional another hour. The forum will be held at the opposition camp's request after three days of talks last week failed to produce agreements on key contentious issues. Measures to prevent losses in the domestic agriculture industry and the FTA provision relating to investors' filing lawsuits against the other's government continue to be widely disputed.

Parliamentary Committee Holds KORUS FTA Forum [English, MGF]

http://world.kbs.co.kr/english/news/news_Po_detail.htm?lang=e&id=Po&No=85465&current_page=

The parliamentary committee on foreign affairs and trade held a debate Saturday among ruling and opposition party lawmakers and experts over the ratification the Korea-U.S. free trade agreement. The latest debate centered around provisions regarding investor-state dispute (ISD) settlement in the Korea-U.S. FTA.  The two sides also discussed possible contradictions between Korea-U.S. FTA and South Korean law and measures to protect South Korean farmers from losses that could be incurred by the trade deal.

2. ECONOMIC ISSUES

Korea’s growth dips below inflation level[English, HYD]

http://koreajoongangdaily.joinsmsn.com/news/article/article.aspx?aid=2943158

Summary: Korea’s economic growth rate is expected to fall below its inflation gain this year due mainly to sluggish exports and rising consumer prices, data showed yesterday.  The average forecast of Korea’s 2011 growth by 10 foreign investment banks came to 3.7 percent as of the end of September, while their median inflation projection was 4.3 percent, according to data by the Korea Center of International Finance and industry sources.  The 0.6 percent gap is one of the highest levels among Asian economies.  The corresponding figure for the Indian economy stood at 1.5 percentage points, followed by the Philippines with 0.4 percentage points and Thailand with 0.1 percentage points, the data showed.

S.Korea's Economic Growth Projected Lower than Inflation [English, MGF]

http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=85471&id=Ec

The nation’s inflation projection is expected to exceed economic growth rate this year.  Ten foreign investment banks including Morgan Stanley expected last month that the nation’s economy will grow three-point-seven percent this year, which is lower than the nation’s inflation estimate by six tenths of a percent.  Experts view that the gap in South Korea is attributed to slowed exports stemming from economic crisis and rising import prices due to the strong dollar.

South Korea Ranks 8th in Business Environment [English, MGF]

http://world.kbs.co.kr/english/news/news_Ec_detail.htm?lang=e&id=Ec&No=85399&current_page=2

South Korea has been named to the top-ten list of the world’s most business friendly economies. The Ministry of Strategy and Finance said South Korea ranked eighth on a World Bank report on business environment released Thursday, moving up eight spots from last year.

3. LIVESTOCK ISSUES

Gov't Submits Bill Seeking Permit System for Livestock Industries[English, MGF]

http://world.kbs.co.kr/english/news/news_Ec_detail.htm?lang=e&id=Ec&No=85425&current_page=

The Ministry for Food, Agriculture, Forestry and Fisheries has submitted a bill to the National Assembly seeking revisions to a law regarding the livestock industry.   Under the bill submitted Thursday, the ministry is seeking to introduce a permit system for livestock farmers whose type of livestock and size of facilities meet standards set by presidential decree.  The ministry is seeking to introduce such a permit system following difficulties in supervising cases of foot-and-mouth disease and avian influenza in livestock industries.

4. MARKETING ISSUES

CJ Cheiljedang to Invest $300 million to Build Amino Acid Plant in Iowa. U.S. [Korean, OSY]

http://photo.media.daum.net/economic/view.html?cateid=1006&newsid=20111024031349358&p=donga

Summary: CJ Cheiljedang, the leading food processing company in Korea, announced on October 23 that it would invest $300 million to build an amino-acid manufacturing plant in Iowa, U.S.  By producing 300,000 tons of lysine, the plant will help make CJ the leading supplier of lysine in the world by 2013, according to CJ.  CJ has signed a long term purchase contract with Cargill to secure stable supply of corn starch for the plant.  Currently CJ is the second largest supplier of lysine after GBT China.   

E-Mart to Start a Drugs Store Business Soon [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2011102336911&intype=1

Summary: E-Mart, the leading hypermarket chain in Korea, plans on entering the drugs store business within this year.  Industry sources forecast that E-Mart’s drugs store chain would have as many as 100 outlets by the end of 2012.  Currently the drugs store industry is led by CJ Olive Young and GS Watsons.

Deli Section Draws Consumers from Farthest Distances, Department Store Sales Analysis [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2011102336481&sid=010405&nid=004&ltype=1

Summary: According to an analysis of sales data, deli section drew consumers to department stores from the farthest distance.  Consumers who visited the department store and bought products in deli section were living within as far as 475 sq. kilometers of area around the store.  Women’s clothing (295 sq. kilometers) and cosmetics (225 sq. kilometers) were the next sections that drew consumers from far distance.

5. OTHER MISCELLANEOUS ISSUES

Gov't to Scrap Chinese Cabbage if Prices Fall Under 802 Won[English, MGF]

http://world.kbs.co.kr/english/news/news_Ec_detail.htm?lang=e&id=Ec&No=85415&current_page=2

The Ministry Food, Agriculture, Forestry and Fisheries may scrap a certain amount of Chinese cabbage after its purchase from farmers if wholesale prices of the vegetable fall below 802 won. The move is part of efforts to stabilize prices of Chinese cabbage ahead of this year's annual "gimjang," or the making of a large amount of kimchi in preparation for the winter season.