Ministry of Trade, Industry and Energy
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Minister Sung meets with Saudi ministers to advance bilateral cooperation
Trade, Industry and Energy Minister Sung Yun-mo (second from the left) had a meeting with Saudi Arabia’s Energy Minister Khalid A. Al-Falih (third from the right) and Saudi Economy Minister Mohammed Al-Tuwaijri (second from the right) in the UAE on January 14 (local time).During the ministerial talk, the top officials discussed key issues inv...
Minister Sung visits UAE to enhance industrial bilateral ties
Industry, Trade and Energy Minister Sung Yun-mo (right) met with Abu Dhabi Executive Affairs Authority Chairman Khaldoon Khalifa Al Mubarak in the UAE on January 13 (local time).Minister Sung and Chairman Al Mubarak discussed ways of enhancing bilateral cooperation in industry and investment, including nuclear power plants.Prior to the meeting with...
Minister Sung meets with steel industry leaders to share policy directions for 2019
Trade, Industry and Energy Minister Sung Yun-mo (center) met with steel industry leaders to share the Korean government’s 2019 policy directions at a new year’s gathering in Seoul on January 10.During his congratulatory remarks at the meeting, Minister Sung praised their efforts in achieving steel exports of $600 billion last year amid ...
Vice Minister Cheong delivers speech at conference for global market entry strategies
Trade, Industry and Energy Vice Minister Cheong Seung-il delivered a congratulatory speech at the conference for global market entry strategies in Seoul on January 9.After expressing his gratitude to Korea’s exporters for their efforts, Vice Minister Cheong said that the Korean government will focus on the revitalization and innovation strate...
Minister Sung shares policy directions for 2019 with petrochemical industry leaders
Trade, Industry and Energy Minister Sung Yunmo (fourth from the right) shared the Korean government’s policy directions for 2019 with petrochemical industry leaders at a new year’s meeting in Seoul on January 8.During his congratulatory remarks, Minister Sung said that the Korean petrochemical exports that surpassed the $50 billion mark...
Minister Sung visits Korea’s largest port in Busan to encourage shipping industry workers
Trade, Industry and Energy Minister Sung Yunmo (second from the left) visited the city of Busan, Korea’s largest port, to encourage shipping industry workers who are at the frontline of the country’s exports on January 1.At the port, Minister Sung said that last year’s Korean exports surpassed USD 600 billion for the first time ev...
FDI pledged to Korea reach record-breaking $26.9 billion in 2018
The Ministry of Trade, Industry and Energy announced on January 3 that foreign direct investments (FDI) pledged to Korea in 2018 reached a record-breaking USD 26.9 billion, up 17.2 percent from a year earlier.The increasing trend of FDI commitments continued last year, achieving more than $20 billion for four years in a row.FDI pledged through the ...
Online retail sales register double-digit growth in November
The Ministry of Trade, Industry and Energy announced on December 31 that Korea’s online retail sales in November registered a double-digit growth rate of 12.7 percent compared to a year earlier. With offline retail sales declining 0.5 percent, the overall retail sales saw an improvement of 4.6 percent.Despite growth in convenience stores and ...
Korea’s trade value reaches record high of $1.1 trillion in 2018
The Ministry of Trade, Industry and Energy announced on January 1 that Korea’s trade value in 2018 reached a record high of USD 1.1 trillion, exceeding the $1 trillion mark for two straight years. The country’s annual exports posted a 5.5 percent growth to $605.5 billion, which is also an unprecedented achievement. With imports rising 1...
Minister Sung awards government prizes to robot industry contributors
Trade, Industry and Energy Minister Sung Yunmo awarded government prizes to individuals who contributed to the development of the robot industry at Robot Professionals’ Night 2018 in Seoul on December 19.The event showcased ten types of promising robot products, including caring robots and rehabilitation robots. The Korean government plans to...