Today's Date:   Friday, October 05, 2012

1. BIOTECHNOLOGY ISSUES

Safety Dispute over GMO Corn Re-Heated in EU [Korean, OSY]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=105&oid=020&aid=0002372008

Summary: A result of research by a French research team released last month has fueled a dispute on the safety of GMO crop.  According to the research team, feeding GMO corn increased development of cancer in lab mice tested.  French government has announced right after the release of the result that it would pressure EU government to ban sales of GMO corn in all EU countries provided that the research was something credible.  EFSA (European Food Safety Agency) has also started an investigation to validate the result.

2. MARKETING ISSUES

Galleria Department Store Opens ‘Gourmet 494’, Premium Grocery Store [Korean, OSY]

http://news.donga.com/3/all/20121005/49863435/1

Summary: Galleria Department Store in Seoul opened ‘Gourmet 494’ on October 5.  ‘Gourmet 494’, located in the basement floor (3,227 sq. meter) of the department store features some of the best quality food and agricultural products offered in the market.  A big emphasis of the store is take out prepared meal section where 23 individual vendors offer a wide variety of meals for both take out and in-store dining.

Fair Trade Committee Charges 4 Billion Won of Fine to Shinsegae-E Mart [Korean, OSY]

http://news.donga.com/3/all/20121004/49832613/1

Summary: Fair Trade Committee reported that 4 billion won of fine has been charged to Shinsegae – E Mart for illegally supporting Shinsegae VSN and Chosun Hotel, sister companies under the umbrella of Shinsegae Group that operate bakery shops in retail outlets.  According to Fair Trade Committee, Shinsegae Department Store and Shinsegae E Mart have been charging less mark ups or sales commissions on the sister companies compared to non-affiliated tenants or suppliers. 

3. OTHER MISCELLANEOUS ISSUES

Police Arrests Liquor Distributors for Distributing over 20 Billion Won Worth ‘Fake’ Premium Whiskies [Korean, OSY]

http://news.donga.com/Society/3/03/20121004/49832349/1

Summary: Korean police reported that it had arrested a liquor distributor who had allegedly supplied over 20 billion worth ‘fake’ premium whiskies to saloons in Seoul over the last 10 years.  According to the police, the distributor refilled empty bottles of 12 or 17 year Scotch whiskies with cheap whiskey simply using lubber gloves. 

Source of Healthy Snack … A Visit to Pistachio Farm in California … Pistachios are Grown and Roasted in a Natural Way [Korean, OSY]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=020&aid=0002371596

Summary: A reporter of Donga Daily Newspaper visited Paramount Farms in California which accounts for a 40 percent of world pistachio supply.  During the visit, the reporter experienced harvest and roasting process.  According to the vice president of Paramount Farms, exports to Korea is likely to grow 50 percent in the coming year as more Koreans are eating pistachio as a healthy snack.