1. BILATERAL/MULTILATERAL ISSUES

Democratic Party begins protest for invalidation of the KORUS FTA ratification [Korean: BYK]

http://www.asiatoday.co.kr/news/view.asp?seq=560910

Summary: The Democratic Party established the “Committee for invalidation of the KORUS FTA” on November 25^th.  Assemblyman Dong Yong CHUNG will lead the committee and will continue to set up various outdoor protests.  It will put its full force on the protest in front of the city hall that is planned to be held on November 26^th.

2. LIVESTOCK ISSUES

ROKG states that “It is not the time to discuss U.S. beef imports yet” [Korean: BYK]

http://news.khan.co.kr/kh_news/khan_art_view.html?artid=201111232151295&code=920501

Summary: An official from MIFAFF stated on November 23 that it is not the time yet to discuss increasing the types of U.S. products eligible to be imported into Korea.  The person stated that if the United States asks for negotiations, it would have to agree to meet but stated that it would grandly explain that Korea can’t open the beef market any further.  There is no definition for what we mean by recovery of consumer confidence and as the United States is the one that has to persuade Korea, Korea is at an advantage.  The official also stated that the market liberalization is the sovereign right of Korea. 

Will the Canadian beef issue go back to WTO? [Korean: BYK]

http://www.asiae.co.kr/news/view.htm?idxno=2011112216344679954

Summary: As the National Assembly continues to postpone the deliberation of the Canadian beef protocol, the deadline is rapidly approaching.  Korea and Canada reached an agreement on June 28, 2011 but it has not been implemented up to now as it has to undergo deliberation by the National Assembly.  If Korea fails to implement the protocol by the end of December, Canada can resume the WTO dispute settlement process.    

U.S. Pork imports increases by 3-fold [Korean: BYK]

http://biz.chosun.com/site/data/html_dir/2011/11/24/2011112402509.html

Summary: According to MIFAFF, pork imports from the United States increased by 210%.  The total amount of pork imported by Nov. 10^th (based on quarantine inspection) marked 129,975 MT which is 3.1 times higher amount that the imports during the same period in 2010.

3. MARKETING ISSUES

TV Home Shopping Companies Take 37 Percent of Sales Commission Fee from Suppliers, Fair Trade Committee [Korean, OSY]

http://news.donga.com/Economy/New/3/01/20111122/42074598/1

Summary: According to a recent survey by the Fair Trade Committee, suppliers are paying an average of 37 percent of sales to the home shopping TV companies as a sales commission fee.  It means that per every 1 million won of sales that suppliers make through TV home shopping channels, TV home shopping companies take 370,000 won of fee.  Fair Trade Committee intends to monitor the level of commission fee taken by TV home shopping companies to pressure them to lower the fee.

Chile Wine price up 24% ever since FTA[Korean, YSY]

http://news.hankooki.com/ArticleView/ArticleView.php?url=economy/201111/h2011112402383521500.htm&ver=v002

Summary: Chilean wine tariff down by 15% every year, ever since Korea-Chile Free Trade Agreement, and now no tariff, but Chilean wine, in case of MONTESALFA, price up 24% (38,ooo à 47,000 won per bottle) mainly due to increase of cost for importers and sales stores.  There are on free trade effect in consumer price, if tariff down little by little.

Heavy Summer Rain Results in Low Harvest of Pepper and Sesame Seeds [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/11/24/0318000000AKR20111124065000002.HTML

Summary: According to the National Statistics Office, harvest of pepper and sesame seeds has declined 20% and 25% respectively this year from last year mainly due to heavy rain earlier in Summer.  Total harvest of pepper has amounted to 77,100 tons, and sesame seeds 9,500 tons this year.

Sales of On-Line Internet Retailers to Grow 18% Next Year, Shinsegae Retail Institute [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/11/23/0318000000AKR20111123053600003.HTML

Summary: Sinsegae Retail Institute, a think tank of the leading Korean retail giant Shinsegae, released its annual forecast for 2012.  Shinsegae forecasted that the on-line internet retailers would see 18 percent sales growth.  Sales growth forecast for other segments were Department store 9.9 percent; hypermarket store 7.7 percent; Convenience store 18.9 percent; and grocery supermarket 4.1 percent.

4. OTHER MISCELLANEOUS ISSUES

Canned Soups Have 13 Times More Bis-Phenol A (BPA, Toxic Chemical) than Hand Made Soups, Harvard Research [Korean, OSY]

http://www.yonhapnews.co.kr/international/2011/11/23/0608000000AKR20111123059400009.HTML?template=2089

Summary: A research by Harvard Graduate School of Public Health found that canned soups increase intake of Bis-Phenol A, a toxic chemical that affects human hormone system, as much as 13 times compared to hand-made soups.  The research group commented that the research result suggested that eating canned foods could develop health problems.

Every year, Korea Agricultural and livestock industries will lose 815 billion won, 486.6 billion won, respectively,  cause of KOR-US FTA

http://pdf.hankooki.com/hk/view_hk.htm?exec=viewsearch&height=1640&GCC=AA01099&CNo=105387904&scope=0&period=4&startdate=2011-05-25&enddate=2011-11-25&page=1&page_size=5&idx=1

Summary: Korea Government institute expect Korea farming industry will lose money around 12.6 trillion won in 15 years due to Korea US Free Trade Agreement.  And Korean Government plan to invest 22 trillion won in 15 years to protect farms.

Harvest of Tangerine Orange in Jeju Island Likely to be Optimal Level, 569,000 Tons, This Year [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/11/24/0318000000AKR20111124078700056.HTML

Summary: Jeju Province Ag. Institute announced that harvest of tangerine orange in the island was expected to 569,000 tons this year, up 18.5 percent from last year.  The institute explained that this should be an optimal production level for the industry considering the supply-demand situation in the market.  The Brix of the orange was to mark 9.8 on average, which was 0.5 point higher than regular years, according to the product survey by the institute.

5. MIFAFF PRESS RELEASES

► Green Light expected for increased fishery trade with Russia as health protocol has been established between Korea and Russia

► Korea secures about 60,000 MT of fishing quota for 2012 in Russian ocean

► Full administrative support to be provided in catching illegal Chinese fishermen  

► College students prepare Kimchi and fermented bean paste for sharing with the poor

► The possibility for avian influenza high as number of migrant birds rises

► Korea signs MOU with Indonesia on food security

► International community agree on control measures for tuna fishing for the next 4 years

► WTO to review Korea’s domestic support programs, such as direct payment for rice farmers

► MIFAFF to reduce fatal accidents by half among fishermen

► Philippines asks for extension to its rice market tariffication

► MIFAFF to drop insurances on savings between primary cooperative

► U.S. chef states that he will develop more dishes using fermented Korean food

► The agricultural policy that received the most highest appraisal