Today's Date:      Friday, April 13, 2012

1. BILATERAL/MULTILATERAL ISSUES

Renegotiation of KORUS FTA escaped [Korean: BYK]

http://www.ytn.co.kr/_ln/0104_201204130136542433

Summary: The New York Times reported that the win in the General Elections by the ruling party has enabled the United States to resolve a big headache.  The article is stating that if the opposition party had won the elections, then they would have tried to renegotiate the KORUS FTA.

KITA Chairman Duk Soo Han states that KORUS FTA will provide new opportunity for Korean agriculture [Korean: BYK]

http://www.wowtv.co.kr/newscenter/news/view.asp?bcode=T30001000&artid=A201204130039

Summary: Mr. Duk Soo Han, Chairman of KITA, stated that the KORUS FTA will provide new opportunities for Cheju agriculture by enhancing the price competitiveness of produces grown in Jeju.

Japan Eyes Separate FTA with China [English, CSY]

http://english.chosun.com/site/data/html_dir/2012/04/13/2012041301263.html

Summary: Japan is considering whether to start separate free trade talks with China as prospects for a trilateral accord that includes Korea fade, the Kyodo news agency reported Thursday. Uncertainty over the results of the Korean presidential election in December is seen as a major stumbling block to trilateral FTA negotiations.  Trilateral FTA talks kicked off at Beijing's initiative in 2002 but soon stalled over conflict between China, which wanted to draw ASEAN member states in the deal, and Japan, which wanted to invite Australia, India, and New Zealand. But it seems Tokyo and Beijing now want to continue talks to suit their individual interests.

According to Kyodo, Japan will seek FTA talks with China, if Korea opposes the re-start of three-way negotiations during a trilateral summit in Beijing in mid-May. Japan was initially skeptical about an FTA with China "due to concerns that domestic agriculture could be ruined by cheaper imports" but now "views a deal as necessary to vie with Korea, which is also seeking to begin free-trade talks with China," the news agency speculated.

2. ECONOMIC ISSUES

ROKG to release daily prices of selected agricultural products [Korean: BYK]

http://news.kukinews.com/article/view.asp?page=1&gCode=kmi&arcid=0005990688&cp=nv

Summary: The Korean Government in conjunction with aT announced that it would release daily prices of selected agricultural products to control inflation.  The products subject to the daily price release are: orange, grapes, banana, beef, pork belly, sesame seed, peanuts and Alaskan Pollack.

3. MARKETING ISSUES

‘Texas Chicken’, an American Fried Chicken Restaurant Enters Korean Market [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/04/10/0318000000AKR20120410035200003.HTML

Summary: Kraze Burger, a leading premium burger restaurant chain announced on April 12 that it had developed a business partnership with Texas Chicken, an American fried chicken restaurant chain to launch the Texas chicken outlets in Korea.  Kraze Burger added that it planned to have 100 outlets by 2014.

4. OTHER MISCELLANEOUS ISSUES

S, Korea to import Chinese cabbages to stabilize local price [English, CSY]

http://english.yonhapnews.co.kr/business/2012/04/13/30/0501000000AEN20120413001000320F.HTML

Summary: South Korea plans to import 500 tons of fresh cabbages from China in an effort to help curb a sharp rise in domestic prices, the government said Friday.  The move comes as domestic output of the vegetable, grown in greenhouses, is expected to fall off temporarily later this month, the Ministry for Food, Agriculture, Forestry and Fisheries said.  The expected shortfall has caused the average wholesale price for cabbage to hit 3,120 won (US$2.7) this month from 2,643 won in mid-March. Such developments can have an impact on overall consumer prices.

5. aT PUBLIC NOTICE OF STATE TRADING

► 2012 Non GM Soybean Tender (April 20, 2012) 

    http://www.at.or.kr/article/apko363300/view.action?articleId=13694