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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 ...
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...
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 ...
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...
Korea to roll out 4,000 hydrogen vehicles next year
The Ministry of Trade, Industry and Energy announced that Trade, Industry and Energy Minister Sung Yunmo attended the groundbreaking ceremony for a new fuel cell stack plant at the Hyundai Mobis factory in Chungju on December 11. Fuel cell stacks are key components that make up more than half of the cost to build a hydrogen vehicle. Hyundai Mobis&r...
Auto exports, production post growth in November
The Ministry of Trade, Industry and Energy announced on December 13 that Korea's automobile exports and production in November posted growth compared to the same period last year.Exports of automobiles grew 1.6 percent to 238,357 units from a year earlier due to higher shipments of newly launched models to North America and Europe. In terms of valu...
Minister Sung visits groundbreaking ceremony for fuel cell stack plant
Trade, Industry and Energy Minister Sung Yunmo (third from the left) visited the groundbreaking ceremony for a fuel cell stack plant in Chungju on December 11.Fuel cell stacks are key components that make up more than half of the cost to build a hydrogen vehicle. Hyundai Mobis’ current fuel cell stack plant can produce about 3,000 stacks per ...
Minister Sung delivers speech at conference for attracting Busan World Expo 2030
Trade, Industry and Energy Minister Sung Yunmo (fourth from the right) delivered congratulatory remarks at the opening ceremony of the 5th International Conference for Attracting Busan World Expo 2030 that took place in Busan on December 4.The conference was held to promote the Busan World Expo 2030 bid and to build a network of foreign experts.Mor...
Industry Ministry and OECD host joint forum on business innovation in Seoul
The Ministry of Trade, Industry and Energy hosted a joint forum with the OECD on the fourth industrial revolution (4IR) and business innovation at COEX in Seoul on November 23.During his welcoming speech, Deputy Minister of International Trade and Legal Affairs Kim Chang-kyu (fourth from the left) introduced the Korean government’s policies r...
Online retail sales increase 28.3 percent in October
The Ministry of Trade, Industry and Energy announced on November 30 that online retail sales in October increased 28.3 percent compared to the same period of last year due to greater demand for travel and concerts in the fall.Offline retailers, on the other hand, saw a decrease of 3.6 percent in sales mainly because of a base effect caused by last ...