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Exports of Korean ICT goods drop 21.8% to $14.5 billion in July The Ministry of Trade, Industry and Energy announced on August 21 that July exports of Korean information and communications technology (ICT) goods fell 21.8 percent year-on-year to USD 14.5 billion.Inbound shipments, on the other hand, moved up 6.9 percent to $9.7 billion, and trade balance in this sector stood at a surplus of $4.8 billion.By item... 2019-08-21
Korea’s auto exports post double-digit growth in July The Ministry of Trade, Industry and Energy announced on August 15 that exports of Korean automobiles grew 11.6 percent to 215,927 vehicles compared to the same period last year. In value terms, outbound shipments increased 21.6 percent to USD 3.8 billion. This expansion in exports was largely attributable to improved sales of sport utility vehicles... 2019-08-16
Korea’s July exports decrease 11% to $46.1 billion The Ministry of Trade, Industry and Energy announced on August 1 that Korea’s exports in July decreased 11.0 percent year-on-year to USD 46.1 billion. Imports also declined 2.7 percent to $43.7 billion, and the trade balance stood at a surplus of $2.4 billion, remaining positive for 90 straight months.The decrease in exports was due to a mix ... 2019-08-01
Overall retail sales in Korea increase 5% in June The Ministry of Trade, Industry and Energy announced on July 30 that Korea’s overall retail sales in June grew 5.0 percent compared to the same period last year.Sales of offline retailers inched up 0.7 percent, and those of online retailers advanced 11.7 percent.The Ministry releases monthly retail sales figures based on surveys of 26 major r... 2019-07-30
Letter by the ROK government regarding Japan’s plan to revise its export controls (Summary) The government of the Republic of Korea (ROK) sent a letter to its Japanese counterpart last week to address the fact that Japan's planned amendments to its Export Trade Control Order are not based on sufficient grounds. The revisions are designed to remove the ROK from its white list for trade.Read the summary of the letter: 2019-07-30
Statement to media by Minister Sung on MOTIE's letter sent to Japan's METI Trade, Industry and Energy Minister Sung Yun-mo said in a press briefing on Wednesday that the Ministry delivered an official letter to Japan calling for the immediate restoration of normality by canceling its export restriction plan.Read the full statement: 2019-07-24
Korea’s ICT exports in June fall 22.4% to $14.8 billion The Ministry of Trade, Industry and Energy announced on July 22 that Korea’s exports of information and communications technology (ICT) goods in June decreased 22.4 percent year-on-year to USD 14.8 billion.Imports inched down 0.9 percent to $8.6 billion, which made the country’s trade surplus in this sector $6.3 billion.By item, exports... 2019-07-22
Korea’s auto exports, production post year-on-year increases in H1 The Ministry of Trade, Industry and Energy announced on July 16 that the Korea’s automobile exports in the first six months of this year rose 2.5 percent year-on-year to 1,246,454 vehicles. In value terms, exports improved 7.0 percent to USD 21.7 billion. This increase is largely attributable to greater demand for eco-friendly cars and sport ... 2019-07-16