Today's Date:      Monday, March 12, 2012

1. BILATERAL/MULTILATERAL ISSUES

President of the Democratic United Party states that the Roh Administration was too hasty with the KORUS FTA [Korean: BYK]

http://www.moneytoday.co.kr/view/mtview.php?type=1&no=2012031211201572881&outlink=1

Summary: Han, Myung Sook, President of the Democratic United Party, admitted that there were some mistakes that the former administration had made during the KORUS FTA negotiations.  While attending a roundtable discussions with reporters, one of the panelist asked Han if she agreed that the former administration had agreed to eight (8) of the ten issues that the current opposition party was raising as being problematic.  She replied that the only thing that she can admit is that the former administration had been too hasty and that it should have come up with a conclusion after undergoing more pre4cise and detailed analysis. 

2. BIOTECHNOLOGY ISSUES

Koreans become more aware of LMO [Korean: BYK]

http://www.mdtoday.co.kr/mdtoday/index.html?no=180696

Summary: According to a survey conducted by KBCH, 81.1 percent of the people surveyed were area of LMO.  However, only 27 percent of the people had any intention to purchase food and agricultural products made out of LMO and only 17.5 percent of livestock products made from LMO.

3. LIVESTOCK ISSUES

Suspected Case of Avian Influenza found in South Choonchung province [Korean: BYK]

http://www.moneytoday.co.kr/view/mtview.php?type=1&no=2012031208412712890&outlink=1

Summary: A poultry farm located in Gyeryong city in south Choongchung province reported a suspected case of avian influenza and the Korean government is undergoing tests to see if it is a HPAI or not.  The final test result is due to come out on March 13.

4. MARKETING ISSUES

Importers of American Wine Offer ‘Celebrating KORUS FTA’ Price Discount [Korean, OSY]

http://news.donga.com/Economy/Market/3/0108/20120311/44688326/1

Summary: Leading importers of American wine have announced price discount that they will offer upon the implementation of the KORUS FTA on March 15.  Shindong, importer of Robert Mondavi, has announced as much as 14 percent price cut on Mondavi wines.  Keumyang, importer of 42 different American wines, announced an average 10 percent price cut. 

Customs Office, “Kenya Coffee Beans Roasted in the U.S. is a U.S. Product” [Korean, OSY]

http://media.paran.com/economy/view.kth?dirnews=760904&year=2012&p_eye=news%5Eright%5Ei01%5Emedia%5Eeconomy

Summary: Korean Customs office announced on March 11 that it has ruled that the country of origin of coffee beans harvested in Kenya and roasted in the U.S. before being exported to Korea is the U.S.  Eleven coffee importers in Korea were charged a total of 2.1 billion won of fine earlier this year on an allegation that they mislabeled the country of origin of some of their products.

5. OTHER MISCELLANEOUS ISSUES

Importers to lower U.S. wine prices[KJH, English]

http://koreajoongangdaily.joinsmsn.com/news/article/html/743/2949743.html

Summary: Local wine importers are announcing their plans to lower the prices of their U.S. wines as the Korea-U.S. free trade agreement goes into force on March 15.  Local wine importers are announcing their plans to lower the prices of their U.S. wines as the Korea-U.S. free trade agreement goes into force on Thursday after much delay. The trade pact lifts a 15 percent tariff on wine imports from the country. Shindong Wine, one of the nation’s leading wine importers, said yesterday that consumers will be able to purchase bottles of Robert Mondavi at discounts of up to 14 percent from Thursday.  With the change in price tag, consumers will be able to buy a bottle of Robert Mondavi Cabernet Sauvignon at an 11 percent discount, which will see the price drop from 78,000 won to 69,000 won at Hyundai Department Store. A bottle of Woodbridge by Robert Mondavi Merlot will cost 21,000 won, down 14 percent. “Once the tariff on American wine is lifted, products will gain more price competitiveness in the local market,” said Yoo Tae-young, an official from Shindong Wine. “We expect this to spur change in the overall wine industry.” Prior to Shindong Wine’s announcement, Keumyang International, Korea’s No. 1 wine importer, also said it will lower the prices of 42 different wines it imports from the U.S. by 10 percent starting Thursday.

6. MIFAFF PRESS RELEASES

► MIFAFF to expand quality certification system for liquor to distilled liquor

► Minister Suh visits strawberry export farm in Goyang-shi

► Cuttle fish sells at half prices

► Honor inspectors visits restaurants and promotes COO labeling

► FAO Food Price Index increases slightly in February from 213 point in January to 215 point

► Suspected case of Avian Influenza in Choongchungnam-do

7. aT PUBLIC NOTICE OF STATE TRADING

Notice of selling auction for 2,000 MT of imported sugar to stabilize local market

Bidding Notice of Import license for dried red pepper

Notice of recall for red pepper 2,000 MT imported from India due to exceeding chemical residue limits detected by KFDA.