Today's Date:   Tuesday, November 13, 2012

1. BILATERAL/MULTILATERAL ISSUES

Progressive Party states that KORUS FTA Must be Abolished [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=123&oid=401&aid=0000000310

Summary: The Progressive Party which is the most progressive party in Korea released a political comment about KORUS FTA where it argues that both of the leading opposition Presidential candidates should be more clear cut and announce that they would abolish the KORUS FTA.  It argues that Candidate Moon needs to be clearer about what his position about the abolishment of the KORUS FTA and Candidate Ahn should change his position about renegotiation top a position that calls for the abolishment of KORUS FTA.  The commentary lists several reasons why it thinks the KORUS FTA should be abolished. 

Presidential Candidate Jae In Moon states that he will renegotiate the KORUS FTA under the international standard [Korean: BYK]

http://news.donga.com/3/all/20121113/50806570/1

Summary: Presidential Candidate Jae In Moon in a press conference stated that the KORUS FTA is an agreement between two countries that has already been ratified and therefore he would faithfully implement it.  However, he also added that the National Assembly had passed a resolution in 2011 calling for a renegotiation.  As there is a lot of public concern over some of the toxic provisions, he would renegotiate the agreement in a manner that meets the international standards and procedures. 

2. GRAIN & OILSEED ISSUES

International Corn Price On a Decline due to Good Harvest in China [Korean, OSY]

http://biz.chosun.com/site/data/html_dir/2012/11/12/2012111201562.html

Summary: Price of corn in Chicago commodity market fell down below $8 per bushel last week as China reported good harvest.  The price soared to as high as $8.49 on August 10 due to extreme drought in mid-west America.

3. LIVESTOCK ISSUES

Health Authorities say that the CJD patient found in Gwangju is not a vCJD patient [Korean: BYK]

http://www.asiae.co.kr/news/view.htm?idxno=2012111209390290596

Summary: A patient in Gwangju was diagnosed as a CJD patient.  Health authorities state that this patient seems to be sCJD and not the vCJD that is caused by eating BSE infected materials. 

Two out of three Koreans still scared about BSE in U.S. beef [Korean: BYK]

http://news1.kr/articles/889058

Summary: Assemblyman Min Soo Park of the Democratic United Party announced the result of a survey conducted among 1,001 people about how they feel about U.S. beef.  According to the survey, 43 percent replied that “U.S. beef is kind of unsafe, and 23 percent replied that it is very unsafe.

4. MARKETING ISSUES

KFDA Adds Ingredients Allowed in Health-Functional Food [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/11/08/0318000000AKR20121108038600017.HTML

Summary: KFDA announced on Nov. 8 that it has approved additional ingredients for use in ‘health-functional’ food.  Ingredients newly approved include L-Lactic Magnesium, Sodium Selenium, and Sodium molybdenum.  More details of the KFDA Notice is available from the internet homepage, www.kfda.go.kr.