1. BILATERAL/MULTILATERAL ISSUES

4 Biz Groups Urge FTA Ratification [English: MGF]

http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=85520&id=Ec

The FTA Industry Alliance, an organization jointly chaired by the heads of the four business lobby groups, held a news conference Tuesday. The alliance said the trade deal must be quickly approved for Korean companies to gain a foothold in the U.S. market, and enjoy maximum benefits from tariff cuts.  The alliance is jointly chaired by the heads of the Korea Chamber of Commerce and Industry, the Federation of Korean Industries, the Korea Federation of Small and Medium Business and the Korea International Trade Association.

New US Ambassador to be Sworn in Next Week [English: MGF]

http://world.kbs.co.kr/english/news/news_In_detail.htm?No=85535&id=In

New U.S. Ambassador to South Korea Sung Kim will begin official duties in Seoul next week following his swearing-in ceremony, which is scheduled to be held next Thursday in Washington

MB pushes FTA, opposition keeps pushing back [English: KJH]

http://koreajoongangdaily.joinsmsn.com/news/article/html/286/2943286.html

Summary: The Grand Nationals said yesterday it was time for the committee to vote on the bill, but the Democrats continued to insist that the government must come up with measures to better protect farmers, fishermen and service industry workers before approving the deal.
Floor leaders of the GNP and the DP negotiated yesterday areas of compromise.
The two sides reached an agreement on approving a new Trade Procedure Act to strengthen the National Assembly’s supervision of government negotiations of trade pacts, sources said. The new law is designed to require the government to get approval from the legislature before signing any FTAs with foreign countries, and the Democrats have insisted on it.
The Foreign Affairs, Trade and Unification Committee yesterday approved the bill. Of the 28 lawmakers on the committee, 23 lawmakers participated in the voting.

Business circles bemoan tardy decision on FTA [English: KJH]

http://koreajoongangdaily.joinsmsn.com/news/article/html/275/2943275.html

Summary: Major business bodies gathered to urge lawmakers to pass the pending free trade agreement (FTA) with the United States as early as possible to benefit Korea’s trade and economy. Heads of business circles stressed the need to ratify the FTA, which was passed by the U.S. Congress but is still being fiercely debated at Korea’s National Assembly, before the U.S. gets cold feet and Korea loses out.  The deal will help local companies gain a surer footing in the U.S. market ahead of other countries that are not its trade partners, the groups said at a joint press conference yesterday. They were representing KITA, FKI, KCCI, Kbiz and KFB.

2. LIVESTOCK ISSUES

CJ Cheiljedang Opens “Livestock Research Farm“ in Ansung [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2011102597841&sid=0104&nid=004<ype=1

Summary: CJ Cheiljedang, a leading livestock feed supplier, announced opening of a livestock research farm in Ansung city on October 25.  According to CJ, the farm will carry out various studies on animal feed products, including new environment-friendly products that can reduce methane emission by cattle.

3. MARKETING ISSUES

Sales of Soju and Beer Show a Growth in Three Years … But Whisky Sales Continue a Decline [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2011/10/25/0301000000AKR20111025209400003.HTML

Summary: According to the Korea Liquor Industry Association, sales of Soju (traditional local hard liquor) and Beer during the first eight months this year showed a slight increase from last year, while sales of whiskies continued a decline.  Total sales of Soju from January through August this year amounted to 800,9000 kiloliters, up 1 percent from the same period last year.  Totals sales of beer amounted to 1.2 million kiloliters, up 3 percent.  Sales of whiskies totaled at 2300 kiloliters, down 60 percent from three years ago.

4. OTHER MISCELLANEOUS ISSUES

Chinese Fishing to Reduce in S. Korean Waters [English: MGF]

http://world.kbs.co.kr/english/news/news_In_detail.htm?lang=e&id=In&No=85530¤t_page=

The Food, Agriculture, Forestry and Fisheries Ministry said it held a bilateral meeting on fishing last Thursday with China, where they agreed to limit the number of ships to 1,650 and set the amount of fish caught to 62,500 tons in South Korea’s Exclusive Economic Zone next year.  This is a drop by 50 ships and 2,500 tons from this year

Upscale bakeries bring sweets from abroad [English: KJH]

http://koreajoongangdaily.joinsmsn.com/news/article/html/238/2943238.html

Summary: Upmarket bakeries from abroad have been increasing in Korea in recent years. Customers who have experience abroad may have been the first to become enthusiastic about the arrival of foreign brands. On the back of their internationally known brands, these foreign cafe/bakeries are introducing new ingredients and products to the Korean market. In response to the increasing number of foreign brands entering the country, local Korean bakeries are making modifications to fit the trend or opening up new, high-end bakeries.