Ministry of Trade, Industry and Energy
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Korea’s auto exports post double-digit growth in July
The Ministry of Trade, Industry and Energy announced on August 15 that exports of Korean automobiles grew 11.6 percent to 215,927 vehicles compared to the same period last year. In value terms, outbound shipments increased 21.6 percent to USD 3.8 billion. This expansion in exports was largely attributable to improved sales of sport utility vehicles...
Minister Sung meets with reps. of state-run research institutes for materials and parts
Trade, Industry and Energy Minister Sung Yun-mo presided over a meeting with the rep. of 11 state-run research institutions for materials and parts at the Korea Research Institute of Chemical Technology (KRICK) in Daejeon on Aug 8. During the meeting, Minister Sung discussed ways to revamp R&D policies in direction to raise local p...
Overall retail sales in Korea increase 5% in June
The Ministry of Trade, Industry and Energy announced on July 30 that Korea’s overall retail sales in June grew 5.0 percent compared to the same period last year.Sales of offline retailers inched up 0.7 percent, and those of online retailers advanced 11.7 percent.The Ministry releases monthly retail sales figures based on surveys of 26 major r...
Korea’s auto exports, production post year-on-year increases in H1
The Ministry of Trade, Industry and Energy announced on July 16 that the Korea’s automobile exports in the first six months of this year rose 2.5 percent year-on-year to 1,246,454 vehicles. In value terms, exports improved 7.0 percent to USD 21.7 billion. This increase is largely attributable to greater demand for eco-friendly cars and sport ...
Overall retail sales in Korea improve 8% in May
The Ministry of Trade, Industry and Energy announced on June 27 that Korea’s overall retail sales in May saw a year-on-year growth of 8.0 percent as both offline and online retailers experienced sales improvement.Specifically, sales of brick-and-mortar stores inched up 1.9 percent compared to the same period last year, while those of web-base...
Vice Minister Cheong reviews Nano-Convergence 2020 Program
Trade, Industry and Energy Vice Minister Cheong Seung-il (center) and Science and ICT Vice Minister Mun Mi-ock (second from the right) attended the presentation of results of the Nano-Convergence 2020 Program held in Suwon, south of Seoul, on June 28.Promoting commercialization of results derived from the public sector’s R&D activities, t...
Korean universities launch programs to train students in system chip design
Trade, Industry and Energy Vice Minister Cheong Seung-il (center in the front row) visited Seongnam, near Seoul, on June 25 to join the launching ceremony of new university programs aimed at training students to be experts in system semiconductor design.Starting the second semester of this year, 13 universities in Korea will offer 3rd year undergra...
Minister Sung visits 5G-based smart office in Seoul
Trade, Industry and Energy Minister Sung Yun-mo, together with Science Minister You Young-min, Education Minister Yoo Eun-hae, and Health Minister Park Neung-hoo, visited a 5G smart office located in Seoul on June 20.During the visit, the Ministers observed demonstrations of various 5G-based technologies such as robot baristas, virtual meetings, an...
Seoul, Stockholm vow to cooperate in bio-health industry
Trade, Industry and Energy Minister Sung Yun-mo (third from the right) visited AstraZeneca’s pharmaceutical plant in Södertälje on June 15 (local time) to attend a letter of intent (LOI) signing ceremony for cooperation in the bio-health industry on the occasion of President Moon Jae-in’s state visit to Sweden.The LOI was sign...
Korea, Norway to cooperate on shipbuilding, robotics
Trade, Industry and Energy Minister Sung Yun-mo (fourth from the left) attended a memorandum of understanding (MOU) signing ceremony for industrial cooperation between Korea and Norway held in Oslo on June 12 (local time).On the occasion of President Moon Jae-in’s state visit to Norway, a total of four MOUs on shipbuilding and robotics were s...