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FDI pledged to Korea reach record-breaking $26.9 billion in 2018 The Ministry of Trade, Industry and Energy announced on January 3 that foreign direct investments (FDI) pledged to Korea in 2018 reached a record-breaking USD 26.9 billion, up 17.2 percent from a year earlier.The increasing trend of FDI commitments continued last year, achieving more than $20 billion for four years in a row.FDI pledged through the ... 2019-01-03
Korea’s trade value reaches record high of $1.1 trillion in 2018 The Ministry of Trade, Industry and Energy announced on January 1 that Korea’s trade value in 2018 reached a record high of USD 1.1 trillion, exceeding the $1 trillion mark for two straight years. The country’s annual exports posted a 5.5 percent growth to $605.5 billion, which is also an unprecedented achievement. With imports rising 1... 2019-01-01
Online retail sales register double-digit growth in November The Ministry of Trade, Industry and Energy announced on December 31 that Korea’s online retail sales in November registered a double-digit growth rate of 12.7 percent compared to a year earlier. With offline retail sales declining 0.5 percent, the overall retail sales saw an improvement of 4.6 percent.Despite growth in convenience stores and ... 2018-12-31
Korea’s annual ICT exports surpass $200 billion for first time The Ministry of Trade, Industry and Energy announced on December 18 that Korea’s exports of information and communications technology (ICT) goods from January to November this year reached a record USD 204.5 billion, surpassing the $200 billion mark for the first time.However, the exports of ICT goods in November saw a slight decrease of 1.7 ... 2018-12-18
Auto exports, production post growth in November The Ministry of Trade, Industry and Energy announced on December 13 that Korea's automobile exports and production in November posted growth compared to the same period last year.Exports of automobiles grew 1.6 percent to 238,357 units from a year earlier due to higher shipments of newly launched models to North America and Europe. In terms of valu... 2018-12-13
Korea to roll out 4,000 hydrogen vehicles next year The Ministry of Trade, Industry and Energy announced that Trade, Industry and Energy Minister Sung Yunmo attended the groundbreaking ceremony for a new fuel cell stack plant at the Hyundai Mobis factory in Chungju on December 11.Fuel cell stacks are key components that make up more than half of the cost to build a hydrogen vehicle. Hyundai Mobis&rs... 2018-12-11
Korea’s National Assembly ratifies revised KORUS FTA The Ministry of Trade, Industry and Energy announced that the Korean National Assembly ratified the revised Korea-U.S. free trade agreement (KORUS FTA) on December 7.The Korean government submitted a bill for the ratification of the revised KORUS FTA to the National Assembly on October 12.Now that the domestic procedure for implementing the deal is... 2018-12-07
Ministry hosts 55th Trade Day Ceremony The Ministry of Trade, Industry and Energy held the 55th Trade Day Ceremony with the Korea International Trade Association (KITA) to celebrate the country’s trade achievements at COEX in Seoul on December 7.In 2018, Korea’s trade grew at the fastest rate to reach USD 1 trillion, and its exports are expected to surpass $600 billion for t... 2018-12-07