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February 23, 2011
2011.02.23
http://economy.donga.com/Economy_RealTime/3/01/20110223/35041341/3&top=1
Summary: Each month, 148 surveyors under the Korea Statistics Office visits 22,000 retail stores in 37 local cities and check the prices of 489 designated products. Price information gathered is sent to headquarter via PDA on the spot. After review by headquarter, the price information is put together into the consumer price index. In the calculation of the index, prices of different cities and product categories are weighted differently to come up with the final index that can better represent the average market price in
2. GRAIN & OILSEED ISSUES
Functional rice is getting popular. (Korean: CSC)
http://www.hankyung.com/news/app/newsview.php?aid=2011022178281
Summary: Despite decreasing per capita consumption of rice, special rice market has been recently increasing.
Functional Rice to See Bigger Market [Korean, OSY]
http://www.hankyung.com/news/app/newsview.php?aid=2011022178281&sid=0104&nid=004<ype=1
Summary: Daesang, a leading food company in
Cleanup work begins at Gyeonggi FMD burial sites [English, CSY]
Waste water being extracted in effort to lessen pollution
http://joongangdaily.joins.com/article/view.asp?aid=2932550
Summary: Amid growing fears that the millions of animals buried due to foot-and-mouth disease (FMD) will contaminate underground water sources, the Gyeonggi Provincial Government yesterday began extracting waste water from burial sites in Namyangju and Yangpyeong. As of yesterday, roughly 3.3 million animals nationwide have been culled and some 700,000 of them have been buried at 2,017 sites in Gyeonggi, according to the central government. There are about 4,130 burial sites nationwide.
Imports of pork and powdered milk to be raised [English, CSY]
http://joongangdaily.joins.com/article/view.asp?aid=2932424
Summary:
S. Korean imports of
http://english.yonhapnews.co.kr/business/2011/02/22/17/0501000000AEN20110222000900320F.HTML
Summary:
Vaccines could have stopped FMD [English, CSY]
But government was preoccupied with maintaining vaccine-free status
http://joongangdaily.joins.com/article/view.asp?aid=2932488
Summary: To protect less than $2 million worth of meat exports, the government has turned the country into a massive graveyard of farm animals. Since foot-and-mouth disease broke out in November, more than 3.3 million cows and pigs have been slaughtered, livestock farmers have suffered emotionally and the country is stuck with a bill of trillions of won to compensate farmers for culled animals. Much of this could have been avoided if the government had chosen the more effective and less costly solution of vaccination instead of killing cattle and pigs. But when vaccinations are used, the country loses its vaccine-free status, which makes its meat exports less desirable.
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http://english.yonhapnews.co.kr/business/2011/02/21/0502000000AEN20110221004600320.HTML
Domino Pizza
http://news.khan.co.kr/kh_news/khan_art_view.html?artid=201102222115185&code=990101
Summary: Domino Pizza
¡°Ashuly Seeks to Become the Leading Restaurant Chain in
http://news.donga.com/Economy/Market/3/0108/20110222/35041418/1
Summary: K.Y. Hong, president of Ashuly, the restaurant business arm under E. Land Retail Group, said in a press interview on Feb. 22 that Ashuly would continue an aggressive expansion through the coming year by adding 50 new outlets within 2011 alone. Mr. Hong added that the expansion goal for this year should make Ashuly the largest restaurant chain in
Koreans' Preference for Domestic Food Products [English, CSY]
http://www.arirang.co.kr/News/News_View.asp?nseq=112965&code=Ne2&category=2
Full text: A new survey shows that more than half of Korean consumers prefer domestic food products to imported ones. The Korea Chamber of Commerce survey of 1,5-hundred people conducted last year found that nearly 54-percent of respondents would buy Korean food products rather than imported ones even when the price of Korean-made food is high. Around 31-percent said that it would depend on the item, while only 15-percent said that they had no preference. Despite the chamber's findings, the amount of imported food consumed in
http://www.arirang.co.kr/News/News_View.asp?nseq=112866&code=Ne2&category=2
Full text:
Korea Trails Developed Nations in Food Security [English, CSY]
http://english.chosun.com/site/data/html_dir/2011/02/21/2011022101221.html
Summary:
'Tripple whammy' hits farmers [English, CSY]
http://www.koreatimes.co.kr/www/news/biz/2011/02/123_81751.html
Summary: Koreans have time-honored beliefs that misfortune never comes alone ¡ª they tend to believe that the worst-case scenario is when three disasters devastate all involved. That seems to be the case for domestic farmers this winter when three catastrophes happened with the rapid spread of foot-and-mouth disease (FMD), avian influenza, and heavy snowfall creating the perfect storm. The triple woes are likely to negatively affect the foundations of the farming industry because they have already claimed the lives of so many cows, pigs and hens, consequently reducing output of other agricultural produce.
Price of seafood has skyrocketed [English, CSY]
Nearly 50 percent increase noted
http://joongangdaily.joins.com/article/view.asp?aid=2932584
Summary: As the cost of fresh produce continues to climb, the prices of widely consumed seafood such as squid, mackerel, yellow corvina and hairtail have all risen by up to nearly 50 percent, putting a further strain on citizens¡¯ pocketbooks. Experts point to a domino effect from a shrunken meat supply due to foot-and-mouth disease driving up demand for seafood, plus unusually low temperatures in both the East and
Gov¡¯t sets sights on renewable energy [English, CSY]
http://joongangdaily.joins.com/article/view.asp?aid=2932591
Full text:
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 reports¡±.
Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921
Email: atoseoul@state.gov