Today's Date:  Wednesday, August 29, 2012

1. BILATERAL/MULTILATERAL ISSUES

First round of FTA talks between Korea and Vietnam to be held on Sept. 3 [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=001&aid=0005783097

Summary: The Ministry of Foreign Affairs and Trade announced that it was holding the first round of FTA talks with Vietnam in Seoul on September 3.  The first round of the talks will focus on discussing the general guidelines for the FTA negotiations. 

2. LIVESTOCK ISSUES

Lettuce Prices are 5 times higher than pork prices [Korean: BYK]

http://news.donga.com/3/all/20120829/48949158/1

Summary: Pork prices have been dropping as the increased pork supply is coming into the market after the FMD outbreak last year.  However, lettuce price which is generally known to be a low priced item has been soaring due to the low production coming from hot summer temperature.

3. MARKETING ISSUES

Typhoon Ruins Fruit Farms … Price of Fruits Likely to Surge [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2012082816531

Summary: It is reported that typhoon ‘Bolaben’ that hit the Korean peninsula earlier this week brought a heavy damage to local fruit farms.  For example, Najoo area in Junra province, a major growing region for Korean pear, reported that over 50 percent of the pear farms in the area lost a significant amount of fruits on the trees due to strong wind of the typhoon.  Fishery farms in the southern sea, abalone in particular, also reported heavy damage from the typhoon.

4. OTHER MISCELLANEOUS ISSUES

6 Out of 10 Smart Phone Users Are Mobile Shoppers [Korean, OSY]

http://news.donga.com/3/all/20120828/48941528/1

Summary: Korea Internet Service Agency (KISA) reported on August 28 that its recent survey revealed that 59 percent of smart phone users were shopping products on the smart phones.