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Korean exports in October decrease 14.7% to $46.8 billion The Ministry of Trade, Industry and Energy announced on November 1 that Korea’s exports in October decreased 14.7 percent to USD 46.8 billion from a year earlier. Imports saw a decline of 14.6 percent to $41.4 billion, resulting in a trade balance of a surplus of $5.4 billion.The decrease in exports was largely due to the U.S.-China conflict ... 2019-11-01
Online retail sales up 17.8% in September The Ministry of Trade, Industry and Energy announced on October 30 that online retail sales in Korea went up 17.8 percent year-on-year in September. Sales at brick-and-mortar stores, on the other hand, decreased 5 percent. As a result, overall retail sales inched up 2.7 percent.These findings are based on surveys of 26 major retailers. Half of them... 2019-10-30
Energy Ministry jointly hosts a renewable energy conference in Seoul The Ministry of Trade, Industry and Energy (MOTIE) kicked off the opening ceremony of the Korea International Renewable Energy Conference (KIREC Seoul 2019) at COEX in Seoul on October 23.Held biennially, the international renewable energy conference is one of the renewable energy sector’s largest events, providing opportunities to discuss cl... 2019-10-24
Korea’s ICT industry posts exports of $15.8 billion in September The Ministry of Trade, Industry and Energy announced on October 21 that Korean exports of information and communications technology (ICT) goods in September decreased 22 percent to USD 15.8 billion from a year earlier. Shipments of mobile phone parts expanded, but those of semiconductors and displays contracted.ICT imports, on the other hand, grew ... 2019-10-23
Domestic car sales return to growth in September The Ministry of Trade, Industry and Energy announced on October 17 that automobile sales in Korea rose 4.1 percent year-on-year to 133,016 vehicles in September following seven consecutive monthly decreases.Domestic sales of Korean-made cars inched up 1.0 percent to 110,465 units, and those of imported cars improved 22.5 percent to 22,551 units des... 2019-10-21
Korea, Indonesia conclude CEPA talks to expand economic cooperation Korea’s Trade Minister Yoo Myung-hee and Indonesia’s Trade Minister Enggartiasto Lukita signed a joint statement marking the conclusion of negotiations of the Korea-Indonesia Comprehensive Economic Partnership Agreement (KI-CEPA) in Tangerang on October 16.The Agreement will strengthen the economic relations between the two countries by... 2019-10-18
Korea unveils three key strategies to accelerate the future development of the car industry The Ministry of Trade, Industry and Energy announced three key strategies to accelerate the future development of the car industry on October 15. Under this plan, Korea’s green car industry will seek to account for 10 percent of total eco-friendly car sales in the global market by 2030.Read the summary of the plan here: 2019-10-17
FDI pledged to Korea increases 4.8% to $3.6 billion in Q3 The Ministry of Trade, Industry and Energy announced on October 10 that the foreign direct investment (FDI) pledged to Korea was USD 3.6 billion in the third quarter, posting a year-on-year growth of 4.8 percent after four straight quarters of contraction. Cumulative announced FDI inflows so far this year totaled $13.5 billion, indicating that the ... 2019-10-11