Ministry of Trade, Industry and Energy
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Minister Paik promises support for Korean companies
Minister of Trade, Industry and Energy Paik Ungyu (left) hosted a meeting with corporate CEOs to listen to the challenges they face while doing their businesses, in Seoul on July 16. During the meeting, Minister Paik said that the role of businesses that create jobs and investments is critical for the nation’s further growth, and...
Trade Minister discusses current issues with trade experts
Trade Minister Kim Hyun-chong (center) hosted a meeting with trade experts from the private sector to discuss current trade issues in Seoul on July 16. During the 11th meeting of the advisory commission on trade, Trade Minister Kim and the commission members discussed current issues, such as the U.S. Section 232 investigations into imp...
Vice Minister marks opening of Korean exhibit at trade fair in Russia
Vice Minister Lee In-ho delivered his congratulatory remarks during the opening ceremony of the Korean exhibit at the international trade fair Innoprom, currently underway in Russia, on July 9. Praising the opening of the Korean exhibit for being the first visible step in terms of bilateral cooperation between Seoul and Moscow since th...
Vice Minister attends trade remedy forum
Vice Minister of Trade, Industry and Energy Lee In-ho (seventh from left, front row) gave the congratulatory remarks at the Seoul International Forum on Trade Remedies 2018 in Seoul on July 3. Saying that the free trade system has contributed to growth and made our lives considerably better, Vice Minister Lee called for fair and transp...
Minister Paik attends launch ceremony for Saudi nuclear project support center
Minister of Trade, Industry and Energy Paik Ungyu (eighth from left) attended the opening ceremony for an office center aimed at supporting the Korean tender for a Saudi Arabian nuclear energy project, in Seoul on July 2. The support center was opened as the Korea Electric Power Corporation (KEPCO), the state-run energy utility, was sh...
Minister Paik speaks at World Gas Conference
Minister of Trade, Industry and Energy Paik Ungyu attended the World Gas Conference (WGC) and spoke during the closing session, in Washington D.C. on June 29. In his key note speech at the conference, Minister Paik spoke about Korea's energy transition policies and predicted a growing dominance of gas in the future energy scene, along ...
Trade Minister calls for swift RCEP deal
Trade Minister Kim Hyun-chong (third from left, back row) attended the ministerial meeting for the Regional Comprehensive Economic Partnership (RCEP) that took place in Tokyo on July 1. In his opening remarks, Trade Minister Kim said that reaching a RCEP deal would be a great opportunity to show that shared prosperity can be built acro...
Retail sales up 6.7 percent in May, led by online sales
The Ministry of Trade, Industry and Energy announced on June 27 that overall retail sales in May expanded 6.7 percent from a year earlier on the back of strong online sales. Online sales surged 17.2 percent, continuing a seven-month streak of double-digit growth. Sales at brick-and-mortar retailers also advanced 1.2 percent year...
June exports inched down 0.1 percent
The Ministry of Trade, Industry and Energy announced on July 1 that Korea’s exports recorded USD 51.2 billion in June, inching downward 0.1 percent year-on-year. This was due to the high base effect from the large-scale exports seen a year earlier. Average daily exports grew 6.9 percent year-on-year to $2.4 billion, achieving growth fo...
Minister Paik meets US House Foreign Affairs Committee chairman
Minister of Trade, Industry and Energy Paik Ungyu (right) met with U.S. House Committee on Foreign Affairs Chairman Ed Royce to discuss trade and other related issues in Washington, D.C., on June 27. During the meeting, the minister expressed his concerns to the U.S. lawmaker about the U.S. investigation into imported automobiles based on na...