Today's Date: Monday, December 03, 2012

For Coverage: November 29- December 03, 2012

1. LIVESTOCK ISSUES

Korean ‘Sam Gae Tang (Chicken Soup)’ to Enter the U.S. Market [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/11/30/0301000000AKR20121130083300002.HTML

Summary: According to aT, American government announced a public notice on November 27 that Korean poultry products were going to be allowed to enter the U.S. market. The notice invited public comments on the proposal, due January 28, 2013. If no serious oppositions are raised during the comment period, Korean will be designated as a country that can ship poultry products from pre-registered suppliers to the U.S., explained aT. Currently 2 processors of Sam Gae Tang (local chicken soup) are in the process of getting pre-registration for export to the U.S.

2. MARKETING ISSUES

“Horse Industry will Generate More Jobs than Any Other Industry”, Tae-Pyung Jang, Head of Korea Racing Authority [Korean, OSY]

http://news.donga.com/3/all/20121128/51172888/1

Summary: “10,000 horses create 3,300 jobs”, stressed TP Jang, Chairman of Korea Racing Authority (KRA) in a press interview on November 29. Mr. Jang was appointed to the position a year ago. He stressed that horse industry promotes development of various industries including sport riding to tourism. Under the five year government program that kicked off this year, KRA will lead on various programs with a goal to increase the number of horses in Korea from current 30,000 to 200,000. Mr. Jang pointed out that tight government regulation on horse racing should be eased to further promote development of advanced horse industry.

Health Concerns Arise as Consumption of High-Caffeine Cocktail Drinks in Bars Soars [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/11/30/0301000000AKR20121130072800002.HTML

Summary: According to Green Consumer Union’s report on November 30, 75 percent of bars in Hong-Dae and Itaewon area in Seoul surveyed were offering cocktail alcohol beverages incorporating high-caffeine energy drinks. The NGO argued that these high caffeine drinks should be subject to a mandatory labeling that warns potential health risks.

Supreme Court Charges 1.5 Billion Won of Loss Compensation to CJ Cheiljedang and Samyangsa for Price Fixing on Wheat Flour [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/12/03/0301000000AKR20121203063300004.HTML?template=2087

Summary: Korean Supreme Court ruled on December 3 that CJ Cheiljedang and Samyansa should pay 1.5 billion won of loss compensation to Samlip, a bakery company, for fixing price of wheat flour. It was the first ruling of such case in Korea where the suppliers were found liable for the loss seen by an middleman industry user due to price fixing.

Hypermarkets and SSM Supermarkets to Take Two Days of Voluntary Store Closing a Month [Korean, OSY]

http://www.yonhapnews.co.kr/economy/2012/12/03/0301000000AKR20121203102300003.HTML

Summary: Member companies of Korea Chain Store Association announced on December 3 that they have agreed to take two days of voluntary store closings each month. Stores will be closed on Wednesday of every second and third week of a month, starting from December 12.

The information in this report was compiled by the Agricultural Trade Office (ATO) at the U.S. Embassy in Seoul, South Korea. The press summaries contained herein do NOT reflect USDA, the U.S. Embassy, or other U.S. government agency official policy or view point. U.S. food exporters can learn more about market opportunities in South Korea by reviewing ATO Seoul's Exporter Guide and other reports available at www.fas.usda.gov by clicking on "attaché report".

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