Today's Date:      Thursday, April 05, 2012

1. BILATERAL/MULTILATERAL ISSUES

Prices remain same despite duty drop from FTA [Korean: BYK]

http://www.asiatoday.co.kr/news/view.asp?seq=621337

Summary: The Head of the Fair Trade Commission stated that prices were not coming down despite the lower duty coming from FTA.  As a result, the Commission will investigate the distributors for unfair trade practices for a selected 5 items to see if there are any unfair trade practices.  The 5 items are electric iron, electric shaver, electric toothbrush, fry pans and whiskey.  During its survey, it found that Welch’s orange juice and grape juice prices were the same, despite the removal of the 50 percent duty.  However, prices of U.S. orange, almond, walnuts had come down a lot and U.S. wine prices had dropped 11 percent.

2. LIVESTOCK ISSUES

United States to Request for Removal of Restraints on OTM Beef [Korean: BYK]

http://news.chosun.com/site/data/html_dir/2012/04/05/2012040500880.html

Summary: According to the NTE report submitted by USTR to the U.S. Congress, it stated that it has set a priority for ensuring the beef market is open fully within the commercially viable boundary that matches with the international standard and is based on science.  The report also states that the United States would soon be asking the Korean Government to hold consultations to allow for the full application of the beef import protocol.

NAQS catches butcher shop owners that sold U.S. beef and Chilean pork as domestic products [Korean: BYK]

http://www.kwangju.co.kr/read.php3?aid=1333465200464649006

Summary: NAQS caught 3 butcher shop owners that were selling U.S. beef and Chilean pork as domestic beef and pork.  They used the DNA test to confirm that the beef being sold was not Hanwoo but imported beef.

3. MIFAFF PRESS RELEASES

► Philippine asks WTO to extend its waiver for rice liberalization for 5 more years (July 1, 2012~June 30, 2017).

► Korea and Netherlands sign MOU to initiate exchange of electronic health certificates

► MIFAFF to tighten inspection of COO labeling