Today's Date:   Tuesday, February 26 2013

1. LIVESTOCK ISSUES

Pork Price Plunges .. Local Farmers Report Heavy Deficit [Korean, OSY]

http://cn.moneta.co.kr/Service/stock/ShellView.asp?ArticleID=2013022416435001373&LinkID=514&Title=한국경제&NewsSetID=4938

Summary: According to a survey by Korea Pork Association, each local swine farmer saw about 100 million won of deficit in the business during the last 6 months since September 2012 due to a weak pork meat price.  Wholesale price of local pork meat went down to 2,875 won per kilogram in February, down over 30 percent from 4,139 won in August 2012.  On top of this, imports of pork meat has been on a rise, adding additional pressure to the local farmers.  Imports of pork meat in January amounted to 27,000 metric tons, up 35 percent from the same month of previous year.

2. MARKETING ISSUES

There are Over 30 “Foreign-hood” Areas in Seoul [Korean, OSY]

http://news.donga.com/3/all/20130224/53270925/1

Summary: According to a survey by Dong-A Daily Newspaper, there are over 30 “Foreign-hood” areas in Seoul which have high concentration of foreign residents.  Many of the areas show different mix of origins of foreign residents.  For example, so-called “Little Tokyo” area in Echondong district is mainly composed on 1,472 Japanese residents whereas so-called “Mongol Town” area in Gwangheedong district is mainly composed of 319 Mongolian residents.  “China Town” area in Gurodong district is the largest “foreign-hood” in Seoul with 15,771 Chinese residents.

The Two Leading TV Home shopping Retailers Report Over 1 Trillion Won Sales in 2012 … Growth was Mainly from Non-TV Home shopping Business [Korean, OSY]

http://news.donga.com/3/all/20130224/53271221/1

Summary: GS Shop and CJ O’Shopping, the two leading TV home shopping retailers in Korea, reported over 1 trillion won of sales for 2012.  Both companies started with TV home shopping business but over the years have expanded into other on-line retail businesses including internet shopping and mobile shopping.  It is reported that non-TV home shopping businesses, internet shopping in particular, have become a major source of growth for both retailers recently.

Two New Stores by Lotte Mart Vic Market Target COSTCO stores in the Area [Korea, OSY]

http://news.donga.com/3/all/20130224/53271235/1

Summary: Vic Market, a warehouse discount retail store chain under Lotte Mart, will open two new stores in Seoul on February 28.  It is reported that these new Vic Market stores are in the vicinity of two COSTCO stores. 

3. OTHER MISCELLANEOUS ISSUES

Independent Small Business Coalition that has 6 Million Members Declare “No Japanese Products” Campaign [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013022542131

Summary: A coalition of small businesses and consumer NGO groups that has over 6 million members announced on February 25 that it will drive a campaign among the members not to sell or consume Japanese products.  The campaign reflects increased tension between Korea and Japan caused by a series of nationalistic actions taken by the new Japanese prime minister Abe over the issue of Japanese colonial ruling.  It is likely that sales of imported Japanese products, including beer and cigarette, could be affected by the campaign.