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Vice Minister Cheong attends MOU signing ceremony for nuclear energy cooperation
Trade, Industry and Energy Vice Minister Cheong Seung-il (left, back row) joined the MOU signing ceremony between KEPCO and Barakah One Company in Abu Dhabi on Sep 10. Under the agreement, the two countries will cooperate on securing new nuclear energy projects around the world.
Minister Sung meets with Governor of Indiana
Trade, Industry and Energy Minister Sung Yun-mo (right) had a meeting with Indiana Governor Eric Holcomb and Indiana Secretary of Commerce Jim Schellinger in Seoul on Sep 5. Minister Sung and Governor Holcomb discussed how to promote trade and investment between Korea and Indiana and explored ways to support Korean companies that have operat...
Trade Minister attends Korea-Myanmar MOU signing ceremony
Trade Minister Yoo Myung-hee (middle) attended the Myanmar-ROK MOU Signing Ceremony for economic and infrastructure development held in Yangon on Sep 4. The agreements will bolster cooperation in various industries between the two countries and provide an opportunity for Korean companies to expand their export markets.
Minister Sung visits a leading fiber optic cable manufacturing company in Ansan
Trade, Industry and Energy Minister Sung Yun-mo (second from the left) visited Taihan Fiber Optics, a local producer of synthetic quartz in Ansan, on Sep 4. During his visit, Minister Sung discussed ways to improve competitiveness of the material industry.
Exports in August fall 13.6% to $44.2 billion
The Ministry of Trade, Industry and Energy announced on September 1 that Korea’s August exports fell 13.6 percent from a year earlier to USD 44.2 billion. Imports decreased 4.2 percent to $42.5 billion and the trade balance showed a surplus of $1.7 billion, staying positive for 91 consecutive months.The decline in exports was affected by seve...
Korea’s online retail sales improve 8.7% in July
The Ministry of Trade, Industry and Energy announced on August 30 that Korea’s online retail sales in July saw a year-on-year improvement of 8.7 percent. Overall retail sales, however, inched down 0.1 percent as sales at brick-and-mortar stores decreased 5.6 percent.These results are based on surveys of 26 major retailers. Half of them are br...
Minister Sung visits a local chemical company in Ulsan
Trade, Industry and Energy Minister Sung Yun-mo (center) visited Jeil Chemical, a local producer of epoxy resins in Ulsan on Aug 28. Minister Sung assessed the impact of Korea’s removal from Japan’s white list of preferred trade partners and promoted the government’s plans to support local parts and material industries. &nb...
Korea, UK sign continuity free trade agreement in London
Trade Minister Yoo Myung-hee (right) signed a continuity FTA with the UK’s Secretary of State for International Trade Elizabeth Truss in London, Aug 22. The agreement focuses on maintaining the bilateral trade relations at the same level as the existing Korea-EU FTA, allowing businesses to trade freely in the event of a no-deal Brexit....
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...
Korea, Israel sign bilateral free trade agreement in Jerusalem
Trade Minister Yoo Myung-hee (left) and Israel’s Economy Minister Eli Cohen declared the conclusion of the Korea-Israel FTA in Jerusalem on Aug 21. The trade pact will further promote bilateral trade in a variety of areas including parts, materials and equipment industries.