Ministry of Trade, Industry and Energy
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Auto exports, production, domestic sales all expand in August
The Ministry of Trade, Industry and Energy announced on September 12 that Korea's automobile exports, production, and domestic sales in August all expanded compared to the same period last year.Exports of finished vehicles grew 2.1 percent year-on-year to 174,869 units. In terms of value, they inched up 0.5 percent to USD 2.9 billion. This is attri...
Minister Paik attends groundbreaking ceremony for nation’s largest solar power plant
Trade, Industry and Energy Minister Paik Ungyu (third from left) delivered a speech at the groundbreaking ceremony of Yeongam Solar Power Plant construction in Yeongam, Jeollanam-do on September 12.During his remarks, Minister Paik emphasized that renewable energy is not only clean and safe but also a new growth engine that creates new investment o...
Korea, MERCOSUR convene first round of negotiations for trade agreement
Korean government officials led by the Trade Ministry’s Director General for Free Trade Agreement Negotiations Kim Ki-joon (center) met with their counterparts from the South American trade bloc, MERCOSUR, led by Director General for Integration and MERCOSUR Affairs of the Uruguayan Foreign Ministry Valeria Csukasi (second from left) to conve...
Minister Paik delivers speech on industrial cooperation at Korea-Indonesia Business and Investment Forum
Trade, Industry and Energy Minister Paik Ungyu delivered a speech on industrial cooperation at the Korea-Indonesia Business Investment Forum attended by Indonesian President Joko Widodo in Seoul on September 10.During his welcoming remarks, Minister Paik called for strengthening cooperation between the two Asian countries in manufacturing, infrastr...
Vice Minister Lee emphasizes creating new growth opportunities in bio-health industry
Trade, Industry and Energy Vice Minister Lee Inho delivered a speech at the opening ceremony of BIOplus 2018, which was hosted by the Korea Biotechnology Industry Organization (KoreaBio) to share recent bioindustry trends and seek new business opportunities, in Seoul on September 6.During the speech, Vice Minister Lee underlined the importance of n...
Trade Minister attends 6th RCEP ministerial meeting
Trade Minister Kim Hyun-chong (fifth from right in the first row) attended the sixth Regional Comprehensive Economic Partnership (RCEP) ministerial meeting held in Singapore from August 30 to 31.During the meeting, Trade Minister Kim and top trade officials from 16 countries including China, Japan, and Association of Southeast Asian Nations (ASEAN)...
Trade Ministry publishes agreed outcomes of Korea-US FTA amendment and modification negotiations
The Ministry of Trade, Industry and Energy and the Office of the United States Trade Representative published the agreed outcomes of amendment and modification negotiations to the Korea-US Free Trade Agreement at 10:00 p.m. (local time) on September 3.As the first step in its domestic procedure, the Ministry will gather public comments on the Korea...
Korea’s August exports surpass $50 billion for first time
The Ministry of Trade, Industry and Energy announced on September 1 that exports last month expanded 8.7 percent year-on-year to USD 51.2 billion, surpassing $50 billion for the first time for August exports. Exports in the first eight months also reached a record high of $399.8 billion, up 6.6 percent from the same period last year.Average daily e...
July retail sales up 7.8 percent, as retailers see growth online, offline
The Ministry of Trade, Industry and Energy announced on August 30 that overall retail sales in July 2018 expanded 7.8 percent compared to July 2017, as online and offline retailers both saw growth. Online sales jumped 17.8 percent, seeing the biggest year-on-year growth since January 2018. Sales at brick-and-mortar retailers also clim...
Korea, Indonesia hold automotive dialogue
Deputy Minister for Trade Kang Sung-chun (left hand side, fourth from left) sought bilateral cooperation in the automobile industry with his Indonesian counterpart during the first Korea-Indonesia Automotive Dialogue in Seoul on August 24. During the dialogue, the two Asian trade partners decided to have automotive dialogues on a regular bas...