Consumer Price Up 5.3% in August, Highest Monthly Increase in Three Years [Korean, OSY]

http://joongang.joinsmsn.com/article/853/6101853.html?ctg=1100&cloc=joongang%7Chome%7Cnewslist2

Summary: According to the National Statistics Office, consumer price rose 5.3 percent in August, which was the highest monthly increase recorded since September 2008.  Korean Government is reportedly discussing various policy measures to deal with the surging consumer price.

Korean Federation of Ag Cooperatives and Korea Liquor Industry Association Sign a Long-Term Supply MOU on Barley [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/09/05/0318000000AKR20110905029000002.HTML

Korean Federation of Agricultural Cooperatives (KFAC) and Korea Liquor Industry Association (KLIA) signed a MOU on September 5.  Under the MOU, local Soju distillers agreed to purchase 50,000 tons of barley from local farms every year.  This MOU intends to help local farmers as the Korean government will not run the annual public barley purchase program,  amounted to about 48,000 tons in the past, from next year.

Sales of Ready-to-Serve Steamed Rice Up 40% This Year [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2011090507511&sid=0104&nid=004&ltype=1

CJ Jeiljadang reported that sales of Hat-Ban, a ready to serve steamed rice, had grown 45 percent during the first 7 months this year  from last year.  Other suppliers of similar products reported strong sales growth.  Market analysts have interpreted that a rapid increase of single-member households will result in bigger demand for ready to serve meal products in the coming years.

Large-scale Retailers Agree to Lower Sales Commissions by 3 - 7% Points [Korean, OSY]

http://news.donga.com/3/all/20110906/40131973/1

Eleven large-scale retailers, including department stores, hypermarkets, and TV home-shopping companies, have signed on a voluntary agreement on Sept. 6 to lower the sales commissions that they charge to small-scale suppliers by as much as 7 percent points.  Currently large-scale retailers take about 30 percent of the cash register sales of tenant suppliers as commission.  Retailers have been under strong social pressure to reduce the sales commission to help small-scale suppliers.  Reduced sales commission will take effect from October.