Today's Date:   Tuesday January 29, 2013

1. LIVESTOCK ISSUES

Korea consumers are still against importing USA beef. [Korean: BYY]

http://www.nongmin.com/article/ar_detail.htm?ar_id=212775&subMenu=articletotal

Summary: USA Administration reveals an idea of demanding additional open for beef market. After candlelit vigil on 2008, Korea and USA both have agreed as below. “Until Korean consumers have faith in imported beef from USA, only trade produced beef in accordance with QSA program.” 

As USA recorded 40% of imported beef market share in 2012, they must have judged Korean consumers are not having hostile attitude to USA imported beef anymore. But when looking up to the data that 227 cases out of 582 are the fake marking of USA origin beef to the other country such as Australia, it can be concluded as Korean consumers still have strong aversion about having USA imported beef. 

2. MARKETING ISSUES

Home Plus to Reduce Investment due to Tightened Gov’t Regulations on Large-scale Retailers [Korean, OSY]

http://news.donga.com/3/all/20130129/52655299/1

Summary: S.H. Lee, Chairman of Home Plus Co., Ltd., the second largest hypermarket retail store chain in Korea said in a press interview on January 23 that Home Plus would reduce investment due to tightened government regulations on large-scale retailers.  Home Plus, owned by Tesco U.K., invested over 10 trillion won in the Korean market since its market entry in 1999.  The number of employees including part timers under Home Plus is over 27,000.  Mr. Lee criticized that Korean government regulations had been largely developed from political reasons around election seasons.