1. BILATERAL/MULTILATERAL ISSUES

President mobilizes political capital for FTA [English, MGF]

http://www.koreatimes.co.kr/www/news/nation/2011/11/116_98703.html

Summary: President Lee Myung-bak seems poised to mobilize all his political assets to press for the ratification of the long-stalled free trade agreement with the United States (KORUS FTA). To that end, Lee is expected to persuade opposition lawmakers that their holding back the trade pact is short-sighted at best and could come at a huge cost.  A day after returning to Seoul from his three-day trip to Honolulu for the Asia-Pacific Economic Cooperation summit, Lee is scheduled to pay a visit to the National Assembly today to meet opposition leaders.

Trans-Pacific free trade [English, MGF]

http://www.koreatimes.co.kr/www/news/opinon/2011/11/202_98721.html

Summary: Leaders of the nine Pacific Rim countries, including the United States, have agreed to draft a broad agreement on creating a free trade area in the Pacific area by next July.  But, the plan should undergo further refinement for a successful launch.    First, the United States should invite China, the world's second largest economy, to the program. Second, the TPP should be compatible with the World Trade Organization rules and the APEC's free and open trade and investment.

Korea should be proactive in participating in the TPP arrangement. The deal could mean a de facto free trade pact between Korea and Japan.   The ugliest scenario for Korea is the National Assembly's killing of the Korea-U.S. FTA while the United States and Japan initiate free trade through the TPP.   The National Assembly should stop the dispute and ratify the Korea-U.S. free trade agreement as soon as possible. It should also back the trans-Pacific multilateral free trade agreement.

2. LIVESTOCK ISSUES

Increase of milk price forced the prices of fermented milk products up by 8-10 percent. (Korean: CSC)

http://www.hankyung.com/news/app/newsview.php?aid=2011111442241

Summary:  Processors of fermented milk products have notified retailers of increasing the prices of their products due to increased milk prices conducted by milk producers since August 2011.  Since then, milk producers reflected their milk prices up by 9 percent with dairy farmers increasing their raw milk prices by 19.6 percent up.

3. MARKETING ISSUES

Shinsegae and Lotte, the Two Retail Giants Clash in Outlet Mall Market [Korean, OSY]

http://news.donga.com/Economy/New/3/01/20111114/41877325/1

Summary: Shinsegae Co. and Lotte Shopping Co., the two leading retail companies in Korea have recently announced openings of new outlet malls that target the same market.  Lotte’s new outlet mall in Paju city is located right next to Shinsegae’s existing mall, whereas Shinsegae’s expansion plan for its outlet mall in Yeoju targets Lotte’s new outlet mall in nearby Echon city.  The market for outlet mall is emerging in Korea, and marketers forecast tougher competition between the two leading retail giants in the coming year.

Family Mart Offers Beaujolais Nouveau Wine at 19,990 Won per Bottle [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/11/15/0318000000AKR20111115062000003.HTML

Summary: Family Mart, the leading convenience store chain in Korea, announced that it will sell Beaujolais Nouveau wine at 19,990 won per bottle this year, which is a significant decline from last year’s price, 26,000 won.

4. OTHER MISCELLANEOUS ISSUES

Health Ministry: Over 30% of S.Korean Adults are Obese [English, MGF]

http://world.kbs.co.kr/english/news/news_Dm_detail.htm?No=86007&id=Dm

Summary: A new study shows that more than 30 percent of South Korean adults aged 19 or above are obese.