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Korean air purifier business alliance moves into innovation center in Gwangju
Trade, Industry and Energy Minister Sung Yun-mo (left) attended the move-in ceremony of the alliance for air consumer electronics businesses held at the air home appliance innovation support center in the Gwangju branch of the Korea Electronics Technology Institute (KETI) on March 18.During his visit, Minister Sung asked the companies belong to the...
Minister Sung attends MOU signing ceremony for air quality industry
Trade, Industry and Energy Minister Sung Yun-mo (second from the left) attended a memorandum of understanding (MOU) signing ceremony for the air quality industry that was held in the Gwangju Techno Park on March 18.The MOU was signed among Gwangju City, Gwangju Techno Park, and LG Electronics to develop an industrial ecosystem for the air quality s...
Korean auto industry experiences decline in exports, production, and domestic sales in February
The Ministry of Trade, Industry and Energy announced on March 14 that the Korean automobile industry in February experienced a decline in exports, production, and domestic sales.The number of Korean automobiles exported last month reached 160,442 vehicles, down 1.6 percent compared to the same period last year. This is mostly attributable to fewer ...
2nd committee meeting approves ‘regulatory sandbox’ program requests for five new business models
Trade, Industry and Energy Minister Sung Yun-mo chaired the second committee meeting on deliberating regulatory exemption and temporary permission requests for five new, high-tech business models at the Korea Technology Center in Seoul on February 27.The primary aim for approving regulatory sandbox programs is to bolster innovation-driven growth by...
Overall retail sales in January gain 10.6 percent with online sales expanding at 17.3 percent
The Ministry of Trade, Industry and Energy announced on February 27 that Korea’s overall retail sales in January gained 10.6 percent compared to the same period last year.Offline retailers saw a sales improvement of 6.5 percent thanks to the Lunar New Year holiday that fell in early February. Increased sales of gift sets for the holiday led t...
Minister Sung visits pharmaceutical company to stress Korean government’s commitment to export industries
Trade, Industry and Energy Minister Sung Yun-mo (second from the left) stressed the Korean government’s commitment to export industries during his visit to a factory of Daewoong Pharmaceutical located in the Osong Life Science Complex in Cheongju on February 25.During his speech, Minister Sung said that the Ministry will develop tailored expo...
Minister Sung visits Korean electric bus maker to underscore Korea’s commitment to electric car industry
Trade, Industry and Energy Minister Sung Yun-mo (right) underscored the Korean government’s commitment to the electric car industry during his visit to an electric bus manufacturer located in Cheongju on February 19.After being briefed about the company summary and listening to the Korean electric car maker’s difficulties, Minister Sung...
Korean auto industry sees improvement in exports, production, and domestic sales in January
The Ministry of Trade, Industry and Energy announced on February 19 that the Korean automobile industry in January saw improvement in exports, production, and domestic sales.Automobile exports last month grew 12.6 percent year-on-year to 213,618 vehicles thanks to stronger sales of sports utility vehicles (SUVs) and eco-friendly cars in North Ameri...
Industry Ministry announces 1st set of ‘regulatory sandbox’ cases for new business models
Trade, Industry and Energy Minister Sung Yun-mo presided over the first committee meeting on reviewing regulatory exemptions for new business models in Seoul on February 11.The meeting was held based on the newly-launched “regulatory sandbox” bill with a goal of bolstering innovation-driven new industries beyond the current regulatory c...
Minister Sung discusses industrial revitalization and innovation with think tank leaders
Trade, Industry and Energy Minister Sung Yun-mo (fourth from the left) discussed industrial revitalization and innovation at a meeting with Korean think tank leaders that took place at the Korea Chamber of Commerce and Industry (KCCI) in Seoul on February 7.At the meeting, Minister Sung mentioned that while recent difficult export conditions largel...