Today's Date:      Thursday, April 12, 2012

1. BILATERAL/MULTILATERAL ISSUES

Former Trade Minister wins in General election against opposition party leader [Korean: BYK]

http://news1.kr/photos/119592

Summary: Former Trade Minister who is a strong supporter of FTA, including KORUS FTA, won the election against former Assemblyman Dong Young Chung, who had insisted on renegotiation of the KORUS FTA.

Japan changes its position on trilateral FTA [Korean: BYK]

http://www.hankyung.com/news/app/newsview.php?aid=201204129412g

Summary: Japan changed its position on pursuing a trilateral FTA between Korea, China and PRC.  Instead, it is looking at pushing for a bilateral FTA between Japan and China as it views that Korea is skeptical about the trilateral FTA.

2. LIVESTOCK ISSUES

Drop any plans for full liberalization of U.S. beef [Korean: BYK]

http://www.nongmin.com/article/ar_detail.htm?ar_id=201175&subMenu=articletotal

Summary: The National Hanwoo Association demanded that the United States should immediately withdraw any move for fully liberalizing the beef market.  The association claimed that there are plenty of violations of the current protocol that allows for beef from under thirty months (UTM) and that it would drive the domestic cattle industry to the corner if beef from over thirty months (OTM) were to be allowed.

Meat prices drop but demand does not pick up [Korean: BYK]

http://news.sbs.co.kr/section_news/news_read.jsp?news_id=N1001149247

Summary: Beef, pork and poultry prices have dropped from the level in 2011.  However, consumers are still reluctant to open up their wallets due to the sluggish economy.  The factor that is pushing the meat prices down is not only low demand but high inventory levels.

3. MARKETING ISSUES

Implementation of COO Labeling for Fishery Products in Restaurants Shocks Some Consumers [Korean, OSY]

http://news.donga.com/Society/3/03/20120412/45458638/1

Summary: Country of origin labeling was mandated on fishery products sold in restaurants on April 11.  Many consumers expressed strong dissatisfaction after realizing that some of the fishery products that they had been enjoying in local restaurants were from China.  Restaurant owners expressed serious concerns that they might have to drop those menus made of Chinese fishery products.

4. MIFAFF PRESS RELEASES

► QIA announces Guideline for inspection of Korea tomatoes to be exported to the United States [Korean: BYK]

http://www.qia.go.kr/bbs/lawAnn/viewLawWebAction.do?id=103076&type=0

Summary: QIA announced the guideline for inspection of Korean tomatoes to be exported to the United States.  This is a follow-up to the agreement made between the United States and Korea for allowing Korean fresh tomatoes to be exported to the United States.