Today's Date: Friday, December 30, 2011

For Coverage: December 29 - 30, 2011

1. MARKETING ISSUES

New Regulation May Limit the Operation Hours of Hypermarkets and Grocery Supermarkets [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2011122976421&nid=000&sid=010401&type=0&nv=

Summary: A draft of ‘Retail Industry Development Act’ passed the Knowledge & Economy committee on Dec. 29, which included a clause that allows the local provincial government to limit the operation hours of large-scale retail stores between 11:00 p.m. and 8:00 a.m. if deemed necessary to protect the small scale retailers in the region. If the draft passes the general voting of the National Assembly, it will take effect as early as mid January 2012. Retail companies are strongly against the regulation, and have announced that they will bring this case to the Supreme Court for limitation in fair market competition.

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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