1. BILATERAL/MULTILATERAL ISSUES

National Assembly Agrees to Postpone Today’s Plenary Session [Korean: BYK]

http://www.ytn.co.kr/_ln/0101_201111100959491442

Summary: Floor leaders from both the ruling party and opposition party agreed to postpone today’s scheduled plenary session today.  The Standing Committee for Foreign Affairs and Trade also does not have any plans to meet today.  Both parties will continue to discuss the counterproposal that some members of the Democratic Party had proposed until the next plenary session is held.

Customs office helps put FTAs to best use, KCS chief says [English, MGF]

http://www.koreatimes.co.kr/www/news/biz/2011/11/123_98427.html

Summary: The chief of the Korea Customs Service (KCS) says that he is determined to ensure a safe and fast clearance process for imports and exports in order to maximize the benefits of free trade agreements (FTAs). During a recent interview, KCS Commissioner Joo Yung-sup said his agency will establish more mutual recognition agreements (MRAs) with other countries. Korea has so far signed MRAs with five nations ― the U.S., Canada, Singapore, Japan and New Zealand ― and is currently under negotiations with one Asian country, according to the 53-year-old top customs official.  Joo also vowed to examine origins of products thoroughly, especially products from China, which E.U. nations worry may be disguised as Korean ones. “We employ a filtering system which checks out Chinese products. We focus on textiles and steel goods which benefit largely from the Korea-EU FTA’s tariff exemptions.”

U.S. says it won’t renegotiate FTA’s ISD provision [English, MGF]

http://koreajoongangdaily.joinsmsn.com/news/article/article.aspx?aid=2943957&cloc=joongangdaily|home|newslist1  

Summary: Washington rejected the possibility of renegotiating the Korea-U.S. free trade agreement to satisfy the opposition’s demand for the removal of a controversial provision on investor-state dispute settlements (ISD), senior officials in Seoul said yesterday, setting the scene for a violent showdown in the National Assembly’s plenary session on Thursday.   [Thursday’s plenary was canceled according to other news sources.]

2. LIVESTOCK ISSUES

Chairman of CJ Praises Quality of U.S. Beef Steak [Korean: BYK]

http://www.nocutnews.co.kr/Show.asp?IDX=1970345

Summary: Mr. Jae Hyun Lee, Chairman of CJ praised the quality of U.S. beef steak being sold at a restaurant that his company had recently opened in Chungdahm-dong.  CJ owns various restaurant chains but they are selling U.S. beef steaks only at this restaurant called “The Steak House.”

U.S. Beef Imports Increases by six-folds 3 years after the candle light protest [Korean: BYK]

http://economy.hankooki.com/lpage/economy/201111/e2011110917294470070.htm

Summary:  False rumors about the safety of U.S. beef led to a nation-wide candlelight protest against U.S. beef in June, 2008.  Because of such uproar, big discount stores could not sell U.S. beef for a certain period, despite the fact that imports had resumed.  However, 3 years have passed since and as a lot of misunderstanding and nervousness over U.S. beef has largely been relieved, more consumers are purchasing U.S. beef in major discount stores.  According to KCS, 87,506 MT ($458 million) of U.S. beef had been imported during the first 10 months in 2011.  This is 6.5 times the volume and 5 times higher in value compared to the amount imported in 2008.

3. MARKETING ISSUES

Violations of Country of Origin Labeling Rule for Agricultural Products Show a Sharp Increase This Year [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/11/10/0301000000AKR20111110073100002.HTML

Summary: According to the National Agricultural Quality Assurance Agency (NAQAA), the number of violations of country of origin labeling rule for agricultural products, including Kimchi and rice, increased sharply this year.  For example, inspections by NAQAA have found a total of 904 retailers who violated the rule for Kimchi, up sharply from 316 last year .  752 retailers mislabeled imported Chinese Kimchi as local Kimchi, and additional 152 retailers did not label the origin of Kimchi.

4. MIFAFF PRESS RELEASES

► Learn All About Korean Food Industry at the “Korea Food Expo 2011”

► MIFAFF to update terminologies in fishery related regulations.  It will change Chinese and Japanese terminologies into modern Korean language.

► MIFAFF announces revisions to Canadian tallow import protocol.  However, the beef protocol is still pending deliberation at the National Assembly.