Ministry of Trade, Industry and Energy
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Minister Paik meets with China’s Commerce Minister
Trade, Industry and Energy Minister Paik Ungyu (left) posed for a photo with China’s Minister of Commerce Zhong Shan at a hotel in Beijing on December 15. During the meeting, Minister Paik and Minister Zhong discussed stronger economic cooperation and issues in bilateral trade including negotiations on liberalization of trade in services and ...
Korean and Chinese ministers discuss stronger industrial cooperation
Trade, Industry and Energy Minister Paik Ungyu (right) met China’s Minister of Industry and Information Technology Miao Wei in Beijing on December 14. During the meeting, the two ministers exchanged views on strengthening bilateral industrial cooperation in new business areas, especially in preparation for the Fourth Industrial Revolution. Th...
Ministry announces 8th Basic Plan for Electricity Supply and Demand
The Ministry of Trade, Industry and Energy announced on December 14 a draft of the 8th Basic Plan for Long-term Electricity Supply and Demand. Under the new biennial plan, which reflects environmental and safety factors in addition to stable power supply and economic efficiency, Korea will produce more power from renewable energy sourc...
Automobile exports grow 3.4% on strong sales of eco-friendly cars in November
The Ministry of Trade, Industry and Energy announced on December 12 that exports of automobiles grew 3.4 percent to $4.1 billion on strong sales of eco-friendly cars and large vehicles in November. Meanwhile, production and domestic sales by number of vehicles contracted 8 percent and 1.2 percent, respectively. Automobile export...
Minister Paik presides public-private meeting on industrial innovation
Trade, Industry and Energy Minister Paik Ungyu (right) spoke at the meeting with business leaders and policy experts to discuss industrial innovation at a hotel in southern Seoul on December 6. Minister Paik presided the meeting, which was designed to address responses to changes in the global industries such as the Fourth Industrial Revoluti...
Ministry hosts 54th Trade Day ceremony
Trade, Industry and Energy Minister Paik Ungyu (second from right in the front row) and Trade Minister Kim Hyun-chong (right in the front row) attended the 54th Trade Day ceremony at the COEX in southern Seoul on December 5. The Ministry and the Korea International Trade Association (KITA) hosted the Trade Day ceremony to celebrate the recove...
Minister Paik discusses energy ties with UK’s Energy Secretary
Trade, Industry and Energy Minister Paik Ungyu (right) posed for a photo with Secretary of State for Business, Energy and Industrial Strategy (BEIS) Greg Clark during his visit to London, United Kingdom, on November 27. During their meeting, Minister Paik and his counterpart Secretary Clark discussed ways of expanding cooperation in the nucle...
Retail sales grow 3% in October
The Ministry of Trade, Industry and Energy announced on November 29 that Korea’s retail sales grew 3 percent to 10.13 trillion won in October from a year ago. Online sales, which account for about a third of the total retail sales, rose by 4.2 percent, a relatively slow pace compared to past months due to the suspension of delive...
Korea’s exports grow 9.6% to $50 billion in November
The Ministry of Trade, Industry and Energy announced on December 1 that Korea’s exports in November grew 9.6 percent to USD 50 billion, a record for the month. Exports of goods rose for the 13th consecutive month for the first time in 71 months since December 2011. The average daily exports of goods rose by 9.6 percent to $2.1 billion. ...
Minister Paik meets French Minister for Ecological and Inclusive Transition
Trade, Industry and Energy Minister Paik Ungyu (right) posed for a photo with French Minister for the Ecological and Social Transition Nicolas Hulot during his visit to Paris, France on November 28. During their meeting, Minister Paik and Minister Hulot exchanged views on the two countries’ energy policies and potential cooperation in f...