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January 03, 2013
2013.01.10
1. MARKETING ISSUES
¡°CREATIVE¡±, Lotte Department Store Announces Key Word for Retail Industry Trends for 2013 [Korean, OSY]
http://news.donga.com/3/all/20130101/51990028/1
Summary: Lotte Department Store announced on January 1 that key word of the retail industry in Korea for year 2013 would be ¡°CREATIVE¡±. ¡°CREATIVE¡± is an acronym of eight leading trends expected to lead the industry in the coming year:
Convenience
Refresh
Economic Recession
Asian wave
Technology
Innovative convergence
Value based
Eco-friendly
Revised ¡®Retail Industry Development Act¡¯ Passed National Assembly [Korean, OSY]
http://www.ajunews.com/common/redirect.jsp?newsId=20130101000072
Summary: Korea National Assembly approved revised ¡®retail industry development act¡¯ on January 1, 2013. Under the act, operation hours of large size retail stores will be further restricted. Stores will not be allowed to open from 12:00 midnight till 10:00 a.m. in the following morning, which is 2 hour longer than existing restriction. Stores will additionally be closed for minimum two full days each month on weekends or national holidays.
2. OTHER MISCELLANEOUS ISSUES
http://koreajoongangdaily.joinsmsn.com/news/article/article.aspx?aid=2964841
Summary: The nation¡¯s beer market has been dominated by the duopoly of Hite-Jinro and Oriental Brewery for decades. Thirsting for something new, Korean consumers have turned to imported beer. To increase diversity in the Korean beer market, under current laws, it¡¯s difficult for local establishments to brew their own beer because of the tax system and other policies applied to alcohol production.
Bill proposed to mandate labeling of additives on liquor products [Korean: BYK]
http://www.foodnews.co.kr/news/articleView.html?idxno=43223
Summary: Assemblywoman Mee Ae CHO and 10 other Assemblymen proposed a bill on December 31, 2012, making it mandatory to label the name and content of additives contained in the liquor products. The bill will also provide legislative basis for KFDA to test liquor for safety and hazardous materials.
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".
Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921
Email: atoseoul@state.gov