Today's Date:     Friday, May 18, 2012

S. Korean retail sales shrink in April [English, CSY]

http://english.yonhapnews.co.kr/business/2012/05/16/0501000000AEN20120516004700320.HTML

Summary: Sales at South Korea's major discount chains and department stores fell in April from a year earlier on weaker demand for groceries and clothing, a government report showed Thursday.  Combined sales of the country's three major discount chains fell 2.4 percent last month from a year earlier, a turnaround from a gain of 3.2 percent tallied in the previous month, according to the report by the Ministry of Knowledge Economy.

2. LIVESTOCK ISSUES

Cattle left to starve as their price drops [English, CSY]

Distressed farmer controversially leaves his herd without food, says he can’t afford to feed them 

http://english.hani.co.kr/arti/english_edition/e_national/533078.html

3. MARKETING ISSUES

Catch of Fish in Near Sea This Fall Likely to be Disrupted due to Rise of Sea Water Temperature … Increased Catch of Mackerel and Anchovy but Decreased Catch of Spanish Mackerel [Korean, OSY]

http://economy.donga.com/3/01/20120518/46325807/4

Summary: According to the National Fishery Institute, scientific data including NOAA reports indicate that the water temperature of local seas would go up 1 to 3 degree Celsius higher than normal year in the second half this year.  As a result, catch of fish in local seas would show a different patter from normal year.  For example, catch of warm water fish, such as mackerel and anchovy is likely to increase whereas cold water fish such as Spanish mackerel and cod would decline.

Mandatory ‘Two Weekend Days per Month’ Closing of Large-scale Retail Stores Pleases Nobody [Korean, OSY]

http://news.donga.com/3/all/20120517/46326153/1

Summary: Large-scale retail stores have been mandated to close for two weekend days per month since last month due to the implementation of ‘Retail Industry Development Act’, which aims to protect small and traditional retailers from large-scale retailers.  Despite the closing of large-scale stores, small retailers have reported minimal increase in the sales as consumers reportedly increased the trip to large-scale stores the day before the scheduled closing.  In addition, closing of large-scale stores has caused a significant decline in the price of fresh agricultural products in wholesale markets in the week before the scheduled closing.  As a result, farmers and distributors are also sharing the loss of sales as the large-scale retailers.

4. OTHER MISCELLANEOUS ISSUES

High Fruit Prices Drive Consumers to Frozen Produce [English, CSY]

http://english.chosun.com/site/data/html_dir/2012/05/17/2012051701366.html

Full text: More consumers are buying frozen fruit that is cheaper than fresh produce amid soaring consumer prices. In the past, only a few kinds of frozen fruit had a market, like strawberries and persimmon. But now retailers see growing demand for pineapple, mango, mangosteen, aloe, kiwi, and even apples, though blueberries remain the most popular.   The advantage of frozen fruit is that there is little price fluctuation because large quantities are frozen during the harvest season, whereas the prices of fresh fruit fluctuate widely depending on weather and harvests.

E-Mart saw sales of frozen fruit rise a staggering 128.7 percent from a year in the January-to-April period over the same time last year. That is nearly 10 times as much as the 13.2 percent of sales increase of fresh fruit. Since the second half of last year, E-Mart has been selling 11 kinds of frozen fruits, including raspberry, aloe, durian and pomegranate.   An E-Mart staffer said, "With summer approaching, more customers are looking for frozen fruit as cold snacks. The advantage is that they're easy to peel or core."