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April 01, 2011

2011.04.01

FAS/Seoul Monitoring of Media Reporting on Agricultural Issues
Today's Date:   April Friday 01, 2011
For Coverage:  March 31 - April 01, 2011
 
 
1. BILATERAL/MULTILATERAL ISSUES
 

Obama soon to submit Korea FTA to Congress for ratification: Campbell [English, OYS, CSY]
http://english.yonhapnews.co.kr/news/2011/04/01/0200000000AEN20110401000200315.HTML

Summary: WASHINGTON, March 31 (Yonhap) -- The Obama administration Thursday called on Congress to expedite the process to begin the deliberation of a pending free trade deal with South Korea, saying it will soon submit the deal for ratification.

"The administration will submit the agreement to Congress soon," Kurt Campbell, assistant secretary of state for East Asian and Pacific affairs, told the House Foreign Affairs Committee. "This trade
agreement will deliver immediate, significant economic benefits, but will also deepen our engagement and strengthen our partnership with a central ally in a volatile and rapidly growing region. In strategic terms, it will underscore our commitment to prosperity and security in the Asia Pacific and fortify our leadership role and influence in the region."

 

Congress urged to begin process to deliberate Korea FTA's ratification: USTR [English, OYS]
http://english.yonhapnews.co.kr/news/2011/04/01/0200000000AEN20110401000100315.HTML

Summary: WASHINGTON, March 31 (Yonhap) -- The Obama administration has called on Congress to expedite the process to begin the deliberation of a pending free trade deal with South Korea for eventual ratification within months.

Miriam Sapiro, deputy U.S. trade representative, made the request at a hearing of the Trade Subcommittee of the House Ways and Means Committee Wednesday, according to a transcript released by the USTR Thursday, as some Republican congressmen threaten to block the Korea FTA unless it is submitted concurrently with deals with Colombia and Panama.
"Earlier this month, we notified the full committee that we are ready to begin work on the text of the implementing bill for the Korea FTA as soon as you are able to schedule those sessions," Sapiro said.

 

Korean friendship a boon for QLD producers [English, CSY, OYS]

http://www.ausfoodnews.com.au/2011/03/29/korean-friendship-a-boon-for-qld-producers.html

Summary: Minister for Agriculture, Food and Regional Economies Tim Mulherin said today the longstanding and valuable relationship between Australia and the Republic of Korea will benefit Queensland¡¯s food producers.   Mr Mulherin said in January, Shinsegae Group signed a contract for $1.25 million to import wild caught banana prawns from Queensland companies A Raptis and Son and Seafarm.  ¡°They also imported more than $60 million worth of Queensland beef products last year, and for the first time last year mangoes were exported to South Korea and distributed through the Shinsegae,¡± he said.  ¡°Members of the delegation were pleased to hear that Queensland is still open for business and fresh produce exports, despite enduring a few challenging months of natural disasters.  ¡°Queensland agriculture has taken a hit from recent floods and cyclones, but the outlook is good for many producers – and we want to do everything we can to help those producers promote their products in Australia and overseas – letting the world know we are Back in Business.

 

[A Photo] Great green globes of flavor 

http://joongangdaily.joins.com/article/view.asp?aid=2934237

 
 

Chilean Ambassador to Korea Hernan Brantes, center, and Chilean commercial attache Hernan Gutierrez, to his left, show seedless green grapes from Chile with Woo Joo-hee, right, chief of Lotte¡¯s fresh produce department, at Lotte Mart yesterday. Chilean seedless green grapes are high in sugar since they are grown under the hot South American sun and nurtured by winds from the Andes and the Pacific Ocean.

 
2. ECONOMIC ISSUES
 

Nearly 30 firms face exit from Seoul exchange [English, OYS]

http://english.yonhapnews.co.kr/news/2011/04/01/0200000000AEN20110401003000320.HTML

Summary: SEOUL, April 1 (Yonhap) -- About 30 companies listed on the South Korean stock market are likely to face delistings this year due to capital erosions or inappropriate financial statements, the bourse operator said Friday.

A total of 28 companies who close their books in December were found to have negative capital or to have received a disclaimer of opinion from auditors on their financial statements, said the Korea Exchange (KRX).

 

National Assembly opens month-long extra session [English, OYS]

http://english.yonhapnews.co.kr/news/2011/04/01/0200000000AEN20110401001800315.HTML

Summary: SEOUL, April 1 (Yonhap) -- The National Assembly will open an extraordinary session later Friday, but stiff partisan confrontation and even a standoff between the government and lawmakers are expected over the government's controversial decision to scrap a plan to build a new international airport.

The Lee Myung-bak administration's decision Wednesday to cancel the president's campaign pledge of building a new international airport in the country's southeastern provinces of Gyeongsang is likely to deal a heavy blow to the legislature's plan to pass 98 bills mostly linked to improving public welfare during the session.

 

S. Korea's trade surplus reaches US$3.1 bln in March [English, OYS]

http://english.yonhapnews.co.kr/news/2011/04/01/0200000000AEN20110401002300320.HTML

Summary: SEOUL, April 1 (Yonhap) -- South Korea's trade surplus swelled to US$3.10 billion in March from $2.46 billion the previous month amid brisk exports, a government report showed Friday.

March marks the 14th straight
month that the country has posted a favorable balance. Exports shot up 30.3 percent on-year to $48.60 billion last month, with imports rising 27.9 percent to $45.49 billion, according to the report by the Ministry of Knowledge Economy.

 

S. Korea's consumer prices grow fastest in 29 months in March [English, OYS, CSY]

http://english.yonhapnews.co.kr/news/2011/04/01/0200000000AEN20110401001600320.HTML

Summary: SEOUL, April 1 (Yonhap) -- South Korea's consumer prices grew at the fastest pace in 29 months in March, putting a crimp in the government's efforts to tame soaring inflation, a report showed Friday.

According to the report by Statistics Korea, the country's consumer price index jumped 4.7 percent last
month from a year earlier, marking the fastest on-year hike since October 2008 when it rose 4.8 percent.

 

3. LIVESTOCK ISSUES

 

U.S. to press S. Korea to open beef market fully: report [English, CSY]

http://english.yonhapnews.co.kr/business/2011/03/31/81/0502000000AEN20110331013700320F.HTML

Summary: The United States will continue to push for a full opening of the South Korean beef market in order to gain a larger share in its fourth-largest beef export market, a report has shown.   In the report issued Wednesday and titled "2011 National Trade Estimate Report on Foreign Trade Barriers," the U.S. Trade Representative (USTR) said that achieving full market access for U.S. beef product exports to Korea remains a top priority.   "The U.S. government will continue to attach importance to the beef issue and will continue to urge Korea to open its market fully, consistent with science and international standards," the report said.

 
4. MARKETING ISSUES
 

Nearly 25 pct of Seoulites live alone: report [English, OYS]

http://english.yonhapnews.co.kr/news/2011/03/31/0200000000AEN20110331014000320.HTML

Summary: SEOUL, March 31 (Yonhap) -- The percentage of single-person households in Seoul reached nearly 25 percent last year, increasing more than 10-fold over the last three decades, a report showed on Thursday.

According to the report by the Seoul Metropolitan Government, 838,114 people lived alone in Seoul in 2010, up
from 82,477 people in 1980. The percentage of one-person households reached 23.8 percent last year, the report added.

 
 

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¡±.

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Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921
Email: atoseoul@state.gov