Today's Date:    Thursday, January 05, 2012

1. ECONOMIC ISSUES

Korea Marked the Second Highest Consumer Food Price Increase among OECD Countries [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/01/04/0301000000AKR20120104176000002.HTML

Summary: According to a recent OECD report, Korea recorded 7.9 percent increase in consumer food price in 2011 (Jan. through Nov.), which was the second highest level after Estonia’s 9.9% among all OECD countries.

2. MARKETING ISSUES

Increase of Single & Two Member Households Expands Sales of Small Size Products [Korean, OSY]

http://news.donga.com/3/all/20120104/43088478/1

Summary: According to Lotte Mart, a leading hypermarket grocery store chain, sales of rice in large size packages over 20 kilogram showed 4.4 percent growth in 2011 whereas sales of small size packages 10 kilogram or less increased 107.8 percent.  Sales of prepared side dish items rose 64.2 percent.  Sales of ready to cook stews and soups also showed a robust 68.3 percent growth.  Refrigerators larger than 300 liter size declined 1.6 percent whereas less than 150 liter size rose 8.5 percent.  

3. OTHER MISCELLANEOUS ISSUES

High Level of Illegal Fishing Continues in Local Seas [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/01/05/0302000000AKR20120105080100062.HTML?template=2089

Summary: Announcement by the Korea Marine Police East Sea Division suggests that there still continues a high level of illegal fishing in local seas.  Total number of illegal fishing caught by the division in 2011 was 318.  Most common case of illegal fishing was fishing in restricted areas and violation of catch size.