Today's Date:   Thursday, October 25, 2012

1. LIVESTOCK ISSUES

Emart to sell pork bellies at 830 won per 100 gram [Korean: BYK]

http://www.newstomato.com/ReadNews.aspx?no=299945

Summary:  Emart will sell pork bellies at 830 won per 100 gram until the end of October to help swine farmers that are suffering from low swine prices.  This price is equivalent to the price 10 years ago.  This promotion is being planned in conjunction with the Korea Swine Association.

2. MARKETING ISSUES

Large Scale Retailers Agree to Stop New Store Opening for the Next 3 Years [Korean, OSY]

http://www.ktv.go.kr/program/contents.jsp?cid=443400

Summary: Large scale retail companies that operate hypermarket stores and Super-Supermarket (SSM) stores announced on October 22 that they would suspend new store opening for the coming three years.  In addition, they agreed to close their stores voluntarily for two days per month.  The meeting was hosted by Jae-Kyung Hong, Minister of the Ministry of Knowledge and Economy.  Industry representatives joined the meeting include Seung-Han Lee, chairman of Korea Chain Store Association and Kyung-Bae Kim, chairman of Korea Supermarket Cooperative Association.  By the way, Hanaro Mart and Costco Wholesale did not attend the meeting.

‘Monster’ Energy Drinks May Have Caused Death of 5 People … FDA Investigates [Korean, OSY]

http://news.donga.com/3/all/20121024/50339356/1

Summary: A 14 year old girl reportedly died from stroke after drinking two 24 oz ‘Monster Energy’ cans in a day in December last year.  Parents of the girl has sued the manufacturer of the energy drink for the death.  Each can of Monster Energy contains over 6 times more caffeine than a can of cola beverage.  FDA is investigating the health risk of energy drinks that contain caffeine.  FDA has received five cases of death allegedly related to energy drinks.

3. OTHER MISCELLANEOUS ISSUES

Retailers slash prices in half to fete anniversaries[English, HYD]

http://koreajoongangdaily.joinsmsn.com/news/article/article.aspx?aid=2961292&cloc=joongangdaily|home|newslist2

Summary:  Large discount stores are holding a series of super sales, with several offering sweeping discounts of 50 percent as customers reel from skyrocketing inflation.  E-Mart announced yesterday that it will wipe half the cost off 2,000 items for three weeks from today in appreciation of its customers’ loyalty, as it marks the 19th anniversary since its grand opening. This marks the biggest sale in its history and takes prices back to where they were a decade ago, it said.  Customers can save 54 percent on the most popular items, according to an employee at the chain.