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Korea’s retail sales rise 3.9 percent April
The Ministry of Trade, Industry and Energy announced on May 29 that Korea’s retail sales in April rose 3.9 percent compared to the same period last year. In particular, online retail sales jumped 16.9 percent. Brick-and-mortar sales, on the other hand, decreased 5.5 percent. The Ministry releases monthly retail sales figures based on surveys ...
2020-06-01
Industry Ministry holds 6th post-corona industrial strategy dialogue with construction equipment makers
Trade, Industry and Energy Minister Sung Yun-mo (left) held a meeting with representatives of the equipment industry at the Korea Trade Insurance Corporation headquarters, on May 27, to check up on the status of a leading industry in the Korean economy that is experiencing a significant slowdown in demand amid the coronavirus pandemic. Minis...
2020-05-27
Korean auto exports dip in April, domestic sales increase
The Ministry of Trade, Industry and Energy announced on May 16 that Korea’s automobile production and exports decreased due to stagnant global demand, but domestic sales increased in April. The number of Korean vehicles produced by Korean automakers fell 22.2 percent to 289,515 units. The decrease was attributable mainly to fewer working days...
2020-05-18
Industry Ministry holds 2nd post-corona industrial strategy dialogue with representatives of materials, parts and equipment sectors
Trade, Industry and Energy Minister Sung Yun-mo (right) held a meeting with representatives of the materials, parts and equipment sectors and various R&D institutions at the Korea Chamber of Commerce and Industry headquarters, on May 11, to check the progress of supply stabilization of the 100 core items affected by Japanese export restrictions...
2020-05-11
Retail sales in Korea drop 3.3% in March
The Ministry of Trade, Industry and Energy announced on April 28 that Korea’s online and offline retailers in March saw a year-on-year decrease of 3.3 percent. Brick-and-mortar stores experienced a sales decrease of 17.6 percent, while sales at online retailers grew by 16.9 percent. The Ministry releases monthly retail sales figures based on ...
2020-04-28
Minister Sung visits shipbuilding materials manufacturer to discuss coronavirus countermeasures
Trade, Industry and Energy Minister Sung Yun-mo (center) made an on-site visit to Hankuk Carbon, a local manufacturer of composite materials used to build LNG thermal insulation panels, in Miryang, Gyeongnam Province, on April 24, to check the situation of the shipbuilding equipment industry and discuss support measures in response to the plunge in...
2020-04-24
Industry Ministry promises to support Korean refining sector hit by coronavirus
Trade, Industry and Energy Minister Sung Yun-mo (left) held a meeting with local oil refiners, including SK Energy, GS Caltex, Hyundai Oilbank, and S-OIL at the Korea Trade Insurance Corporation in Seoul, on April 22, to assess the difficulties refiners face amid COVID19 pandemic and discuss support measures for the industry hit by plunging oil pri...
2020-04-22
Minister Sung meets with coronavirus-hit auto industry representatives to discuss countermeasures
Trade, Industry and Energy Minister Sung Yun-mo (left) held a meeting with local automakers and parts suppliers at the Korea Automobile Manufacturers Association in Seoul, on April 21, to discuss coronavirus countermeasures for the automobile industry hit by declining sales and auto plant shutdowns. Minister Sung encouraged the industry&rsqu...
2020-04-21
Korean auto exports, production, and domestic sales all increase in March
The Ministry of Trade, Industry and Energy announced on April 13 that Korea’s automobile exports, production, and domestic sales in March increased 1.3 percent, 6.8 percent, and 10.1 percent, respectively. The number of Korean vehicles exported in March rose 1.3 percent and amounted to 210,900 units. In terms of value, exports rose 3.0 percen...
2020-04-13
Industry Ministry launches support group for innovation of materials, parts and equipment industries
Trade, Industry and Energy Minister Sung Yun-mo (left) attended a launching ceremony of the Support Group composed of state-funded R&D institutes, in order to facilitate convergence and innovation across materials, parts and equipment sectors. The event was held at the Korea Chamber of Commerce & Industry, in Seoul, on April 7. The Ministry...
2020-04-07
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