Ministry of Trade, Industry and Energy
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Korea’s auto production and sales decline in 2016
The Ministry of Trade, Industry and Energy announced on January 11 that Korea’s auto production, domestic sales and exports all appear to have slowed in 2016 despite some numbers having bounced back towards the year-end. Data revealed that although car production and exports in December rose 5.9 percent to 434,877 units and 6.3 percent to 300...
Minister Joo reports 2017 policy direction to Acting President Hwang Kyo-ahn
Trade, Industry and Energy Minister Joo Hyunghwan (second from left, second row) reported his ministry’s policy direction for 2017 to Hwang Kyo-ahn (front row), acting president and prime minister of Korea, at the Government Complex in Seoul on January 5. Minister Joo pledged to put his policy focus on recovering the export growth...
Korea, UK discuss new ways of economic ties in the post-Brexit era
Minister of Trade, Industry and Energy Joo Hyunghwan (left) met with UK Secretary of State for International Trade Liam Fox (right) prior to the 3rd UK-Korea Joint Economic and Trade Committee (JETCO), on Dec 15 in London.The two ministers discussed establishing new economic ties between Korea and UK after Brexit in such fields as the emerging rene...
Minister Joo discusses enhancing economic ties at 4th Korea-Qatar meeting
Minister of Trade, Industry and Energy Joo Hyunghwan (left) co-chaired the fourth High-Level Strategic Cooperation Committee meeting with his Qatar counterpart, Minister of Energy and Industry Dr. Mohammed bin Saleh al-Sada (right), in Seoul on December 2.The meeting was attended by government representatives from both Korean and Qatar side and the...
Data for Korean car industry shows decline in Oct
The Ministry of Trade, Industry and Energy released on Oct 10 that the data for the Korean automobile industry showed the downward trend last month. The domestic production has declined by 14.2 percent, domestic sales has declined by 10.0 percent and exports has declined by 13.1 percent, compared to the same period last year. &nbs...
Minister Joo proposes new approaches to bolster Korea-U.S. economic ties to both business communities
South Korean Trade, Industry and Energy Minister Joo Hyunghwan delivered a speech on the bilateral benefits of the Korea-U.S. free trade agreement and three new ways to bolster the economic ties of the two countries at the luncheon, which the Federation of Korea Industries and the American Chamber of Commerce in Korea co-hosted as a sideline ...
Minister Joo holds public-private talk on new industry promotion
Trade, Industry and Energy Minister Joo Hyunghwan (center) hosted the third meeting between government and private sector leaders from consulting, macro and cultural society, experts on new industries, and representatives from big, medium and small businesses to discuss how to promote and support new businesses in an era of the fo...
Vice Minister Jeong speaks at gov't's policy briefing on raising competitiveness of shipbuilding and shipping industires
Trade, Industry and Energy Vice Minister Jeong Marn-ki (right) spoke at the government's briefing on the policy direction for raising competitiveness of shipbuilding and shipping industries facing overcapacity issue on Oct 31. The Ministry of Strategy and Finance led the briefing with the related economic ministries in the government complex...
KATS recommends consumers stop using Galaxy Note 7
The Korean Agency for Technology and Standards (KATS) under the roof of the Ministry of Trade, Industry and Energy issued three recommendations for consumers and Samsung Electronics, the manufacturer of Galaxy Note 7, on Tuesday following a meeting on Monday which concluded that there is a possibility of a new type of defect in the mobile phone bey...
Domestic automotive sales and production fell in September
The Ministry of Trade, Industry and Energy announced on Oct 7 that the domestic automotive sales fell 13.8 percent to 128,674 units in September compared with the same period last year, with the end of the special consumption tax cut. Local car production also dropped 22.7 percent to 258,026 units last month from a year ago mainly due to the...