1. BILATERAL/MULTILATERAL ISSUES

Minister of Foreign Affairs and Trade hints at delay in implementation of KORUS FTA [Korean: BYK]

http://www.hankyung.com/news/app/newsview.php?aid=201112129557g

Summary: Minister Sung Hwan Kim of Foreign Affairs & Trade stated that although the targeted date for the implementation of the KORUS FTA is still set for January 1, 2012, there is a possibility that it can be delayed as we may need more time to discuss the implementation with the United States.

Korea, China, Japan to begin FTA negotiations in summer of 2012 [Korean: BYK]

http://joongang.joinsmsn.com/article/aid/2011/12/12/6514272.html?cloc=olink|article|default

Summary: The Japanese Economic Daily Newspaper projected that the three-way FTA negotiations between Korea, Japan and China would begin in the summer of 2012, after the leaders of the three nations announce the opening of the FTA negotiations in spring of 2012 when they gather in China.

Korea, China, Japan set to conclude study on three-way FTA [English: BYK]

http://www.koreaherald.com/business/Detail.jsp?newsMLId=20111211000246

Summary: Korea, Japan and China are scheduled to wrap up their joint study on a three-way free trade agreement Friday, portending the beginning of negotiations early next year.  A free trade deal binding the three nations that account for a fifth of the world’s economic output and a sixth of the global trade volume could help resolve geopolitical uncertainties in the region and advance reunification of the Korean Peninsula.  A trade pact removing the tariffs among the three economies, with a combined population of 1.7 billion and production of 10 trillion won, would create the third largest economic bloc after the European Union and North America.

2. GRAIN & OILSEED ISSUES

‘Hat-Ban’, Precooked Rice by CJ, to See a Record High Monthly Sales in December [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/12/11/0302000000AKR20111211028000003.HTML

Summary: CJ Cheiljedang, the leading processed food manufacturer in Korea, reported that ‘Hat-Ban’, a precooked, microwavable rice, is likely to sell a record monthly high, 11 billion won in December.  Total yearly sales of ‘Hat-Ban’ is forecast to reach 110 billion, up 40 percent from last year, added CJ. 

3. LIVESTOCK ISSUES

Another false positive case of FMD found in Gumi [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=102&oid=001&aid=0005414400

Summary: Another suspicious case of FMD that was reported over the weekend turned out to be negative.

4. MARKETING ISSUES

Spot Investigation by Customs Office Detects 24 Companies that Violated Country of Origin Label Regulation [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/12/12/0318000000AKR20111212080200002.HTML

Summary: Korea Customs Office reported on Dec. 12 that its year-end spot investigation, partly themed on Kimchi product, had detected 24 companies that violated country of origin label regulations.  Violations included use of erasable ink, missing COO label, and changing of COO to Korean origin after simple processing in Korea.

5. MIFAFF PRESS RELEASES

► Ginseng and Paprika to be covered by Agricultural insurance from 2012.

► Super Junior, an idol singing group will help launch Global Korean Food Cuisine Festival in the United States, China, Japan, Vietnam, etc.

► World Food Price Index remain at stable level

► Moving Ocean Forest introduced in Yeoju Expo

► MIFAFF to move up selection period of farm successors

► Total fishery products exports surpass $10 billion

► MIFAFF to increase risk communication on food safety with consumers