Today's Date: Friday, December 21, 2012

For Coverage: December 17 - 21, 2012

1. OTHER MISCELLANEOUS ISSUES

E Mart Sells Whole Roasted American Turkey [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2012121923911&ltype=1&nid=004&sid=010405&page=2

Summary: E Mart, the leading hypermarket store chain in Korea, started to receive orders for whole roasted turkey on December 19. The turkey, imported from the U.S., is stuffed and roasted in E Mart stores. Orders should be made minimum 4 hours before pick up. Each bird (4 kilogram) is priced at 84,500 won.

Closing of Presidential Election Season Brings Increase of Food Price [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/12/20/0302000000AKR20121220095200003.HTML?template=5565

Summary: Suppliers have announced price increases of various consumer food products in time for closing of presidential election on December 19. CJ Cheiljedang announced 10 percent increase on tofu, bean sprout and seasonings. Poolmoowon also announced 10 percent increase on tofu and bean sprouts. Hite Jinro announced 8 percent increase on soju. Donga One announced 9 percent increase on wheat flour.

In-Chul Heo, New President of E-Mart [Korean, OSY]

http://view.asiae.co.kr/news/view.htm?idxno=2012113013455913758&nvr=Y

Summary: Shinsegae Group announced that Mr. In-Chul Heo was appointed to the president of E-Mart Co., the leading hypermarket store chain in Korea on December 1. The new president Mr. Heo, 53 years old, joined Shinsegae Group in 1999 and had been in charge of key positions in financial divisions. As an expert on Merger & Acquisition in the group, Mr. Heo is expected to play an important role in Shinsegae Group’s expansion into wider areas of retail business in the coming year. By the way, Shinsegae Group also replaced presidents of three other food & retail sister companies under its umbrella on the same day, including Shinsegae Department Store Co., Shinsegae Food Co., and Shinsegae L&B Co., Ltd.

‘4 Billion Worth’ Manifee, a Stud Stallion of the U.S. Origin, Wins Leading Sire for This Year … Its Offspring Earned a Record High 6.8 Billion Won in Races This Year[Korean, OSY]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=107&oid=015&aid=0002803588

Summary: Manifee, a stud stallion that Korea Racing Authority (KRA) imported at 4 billion won (about $3.5 million) from the United States in 2006 has won the ‘Leading sire’ for this year. Prize money that its offspring earned in races this year totaled 6.8 billion won, a record high. Manifee’s offspring started races in Korea from 2010. 64 of its 110 offspring participated in KRA races this year, generating 124 wins. Offspring of Manifee is also fetching high price. The race horse sold at a record high 260 million won in an auction in Jeju island this year was also an offspring of Manifee.

The information in this report was compiled by the Agricultural Trade Office (ATO) at the U.S. Embassy in Seoul, South Korea. The press summaries contained herein do NOT reflect USDA, the U.S. Embassy, or other U.S. government agency official policy or view point. U.S. food exporters can learn more about market opportunities in South Korea by reviewing ATO Seoul's Exporter Guide and other reports available at www.fas.usda.gov by clicking on "attaché report".

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