Ministry of Trade, Industry and Energy
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ICT exports surge 24.2% to new record in April
The Ministry of Trade, Industry and Energy announced on March 17 that exports of information and communication technology (ICT) goods jumped 24.2 percent to USD 15.6 billion in April, setting a new record for the month of April. In April, outbound shipments of ICT goods grew at the fastest pace in 80 months since August 2010. They rose for the sixt...
Auto production, exports grow in April
The Ministry of Trade, Industry and Energy announced on March 16 that production of automobiles grew 3.8 percent in April from a year ago, driven by a 7-percent growth in exports. Five domestic automotive makers, Hyundai Motor, Kia Motors, GM Korea, SsangYong Motor, and Renault Samsung Motors, together manufactured 382,566 vehicles in April -...
Minister Joo meets with Saudi Energy Minister
Trade, Industry and Energy Minister Joo Hyunghwan (left) poses for a photo with Saudi Arabia’s Energy, Industry and Mineral Resources Minister Khalid A. Al Falih in central Seoul on May 9, during the Saudi Minister’s visit to Korea. The two Ministers discussed bilateral cooperation for the Kingdom’s Vision 2030, an economic,...
18th round of RCEP negotiations starts in Manila
The Ministry of Trade, Industry and Energy announced on May 8 that the 18th round of negotiations for the Regional Comprehensive Economic Partnership began in Manila, the Philippines. The RCEP is a proposed free trade agreement among 16 nations in the Asia Pacific region including Korea, Japan, China, and 10 member states of the Associ...
Ministry discusses responses to changing environment for KORUS FTA
The Ministry of Trade, Industry and Energy announced on May 1 that top officials of the Ministry met to discuss responses to the fast changing environment of the trade between Korea and the United States after the U.S. President ordered a review of free trade agreements. Trade, Industry and Energy Minister Joo Hyunghwan presided a meet...
Korea’s exports surge 24.2% in April to second-highest on record
The Ministry of Trade, Industry and Energy announced on May 1 that Korea’s exports reached the second highest on record in April, rising by 24.2 percent from a year ago to USD 51 billion. Exports grew at the fastest rate in 68 months since August 2011 and expanded at a double-digit rate for the fourth consecutive month for the first ti...
Ministry hosts 13th ASEM Senior Officials’ Meeting on Trade and Investment in Seoul
Trade, Industry and Energy Vice Minister Woo Taehee (eighth from right in the front row) poses for a photo with representatives from 48 member countries of the ASEM (Asia-Europe Meeting) at the ASEM Senior Officials' Meeting on Trade and Investment (SOMTI) in Seoul on April 28. The 13th ASEM SOMTI was held to discuss the proposed agenda and p...
Retail sales grow 6.9% in March
The Ministry of Trade, Industry and Energy announced on April 28 that retail sales rose by 6.9 percent to 9.9 trillion won in March with the growth of both in-store and online sales. Web-based sales, which account for a third of the total retail sales, jumped 12.3 percent in March compared to a year ago, while in-store revenues went up 4.4 p...
Ministry holds meeting with industry to discuss RCEP negotiations
Trade, Industry and Energy Director-General for FTA Negotiations and East Asia FTA Yoo Myung-hee (second from left) presided a meeting with industry representatives in southern Seoul on April 21 to hear their opinions on the negotiations for non-tariff measures under the Regional Comprehensive Economic Partnership (RCEP). The RCEP is a proposed fre...
Korea, New Zealand host 2nd FTA Joint Committee meeting in Seoul
The Ministry of Trade, Industry and Energy announced on April 25 that the Korean and New Zealand governments convened the second meeting of the Korea-New Zealand Free Trade Agreement (FTA) Joint Committee in Seoul to review the implementation of the bilateral trade pact. The second meeting of the Joint Committee, established under the Korea-...