Today's Date: Tuesday, April 16, 2013

For Coverage: April 15 - 16, 2013

1. LIVESTOCK ISSUES

Gov't to cull 100,000 sows to help stabilize price: minister [English, CSY]

http://english.yonhapnews.co.kr/business/2013/04/15/0502000000AEN20130415006800320.HTML

Full text: The government seeks to cull up to 100,000 female hogs in their child-bearing years to help stabilize pork prices, which have fallen by nearly one third in just seven months, the agriculture minister said Monday. "Difficulties faced by our farms are intensifying rapidly as livestock prices continue to drop while the price of animal feed is rising," Minister Lee Dong-phil said while meeting with reporters. "The government believes the most important thing is to maintain an adequate number of livestock." The government earlier said the number of pigs being raised in the country surged to a record high of 10.11 million as of March 1, up 14.2 percent from just a year earlier.

2. OTHER MISCELLANEOUS ISSUES

E Mart Found ‘E Mart USA, Inc.’ for More Direct Purchasing from the U.S. [Korean, OSY]

http://news.donga.com/3/all/20130415/54454420/1

Summary: E Mart, the leading hypermarket retailer in Korea, has founded E Mart USA on March 22. E Mart explained that E Mart USA, replacement of former purchasing liaison office in Los Angeles, will play bigger role for the company in expanding direct purchases from American suppliers.

Bottled Water Market Being Heated … Suppliers Offer Promotions to Attract Consumers [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013041443771

Summary: Major bottled water suppliers in Korea, including Nongshim, Haitai, Gwangdong Pharmaceuticals, and Lotte Chilsung are reportedly in heated competition for higher market share as Spring is around the corner. It is reported that total size of bottled water market in Korea continued a strong growth in 2012 to 490 billion won. Jeju Samdasoo by Gwangdong Pharmaceuticals is the leading brand in the market, followed by Gangwon Pyungchangsoo by Haitai and Baekdoosan Haneulsam by Lotte Chilsung.

Total Number of Swine in Korea Rises above 10 Million … Gov’t & Industry Efforts to Cull the Number have Failed [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013041214931

Summary: Total number of swine in Korea has hit a record high, 10,107,000 in March 2013. Korean government and swine industry have been promoting reduction of the number since last year to alleviate the oversupply situation. However, farmers have reportedly been reluctant to cull the breed sow because of the possibility of the need to re-expand the production in the future again, a pattern that has repeated in the past.

Economy able to grow near 3 pct via stimulus plans: minister [English, CSY]

http://english.yonhapnews.co.kr/business/2013/04/15/0502000000AEN20130415007200320.HTML

Summary: The envisioned extra budget plan and the latest stimulus measures for the housing market will help South Korea boost its economic growth rate to near 3 percent for this year, the country's top economic policymaker said Monday. The government is working on an extra budget plan, scheduled to be submitted to a Cabinet meeting on Tuesday. Though its exact scale is not revealed, policymakers are considering a large-scale extra spending to get the economic growth going.

Whiskey consumption down 11 pct in Q1 [English, CSY]

http://english.yonhapnews.co.kr/business/2013/04/16/77/0501000000AEN20130416002900320F.HTML

Summary: A prolonged economic slump pulled whiskey consumption in South Korea down 11 percent in the first three months of the year, industry data showed Tuesday. According to the data, whiskey consumption reached 450,934 boxes in the January-March period, sharply down from 506,449 boxes a year ago. A box contains 18 0.5-liter bottles.

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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