Ministry of Trade, Industry and Energy
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Minister Sung attends Korea-Germany tech conference in Seoul
Trade, Industry and Energy Minister Sung yun-mo delievered a congratulatory speech at the Korea-Germany tech conference in Seoul on Oct 8. The conference was part of efforts to strengthen partnership with Germany in parts, materials and equipment sectors. Minister Sung also attended the MOU signing ceremony between the Korea International Tr...
Korean retail industry sees 7% increase in sales in August
The Ministry of Trade, Industry and Energy announced on September 29 that the Korean retail industry saw a 7.0 percent year-on-year increase in sales in August. Sales at brick-and-mortar stores advanced 2.1 percent, while sales at online retailers rose 15.2 percent.These results are based on surveys of 26 major retailers. Half of them are offline r...
Trade Minister Yoo meets with foreign investors in materials & components industry in Seoul
Trade Minister Yoo Myung-hee (center) discussed current trade and industry issues with foreign investors in the materials and components industry in Seoul on Sep 26. The meeting was attended by more than 30 government officials and business leaders from foreign-invested companies including 3M Korea, DuPont Korea and Merck Korea.
Automobile exports edge down 3.4 percent in August
The Ministry of Trade, Industry and Energy announced on September 18 that Korean automobile exports inched down 3.4 percent to 164,154 vehicles from a year earlier. The drop in exports is largely attributable to fewer working days. In value terms, however, exports advanced 4.6 percent year-on-year to USD 3.0 billion.Automobile output totaled 249,39...
Minister Sung visits a leading fiber optic cable manufacturing company in Ansan
Trade, Industry and Energy Minister Sung Yun-mo (second from the left) visited Taihan Fiber Optics, a local producer of synthetic quartz in Ansan, on Sep 4. During his visit, Minister Sung discussed ways to improve competitiveness of the material industry.
Korea’s online retail sales improve 8.7% in July
The Ministry of Trade, Industry and Energy announced on August 30 that Korea’s online retail sales in July saw a year-on-year improvement of 8.7 percent. Overall retail sales, however, inched down 0.1 percent as sales at brick-and-mortar stores decreased 5.6 percent.These results are based on surveys of 26 major retailers. Half of them are br...
Minister Sung visits a local chemical company in Ulsan
Trade, Industry and Energy Minister Sung Yun-mo (center) visited Jeil Chemical, a local producer of epoxy resins, in Ulsan on Aug 28. Minister Sung assessed the impact of Korea’s removal from Japan’s white list of preferred trade partners and promoted the government’s plans to support local parts and material industries. &n...
Korea’s auto exports post double-digit growth in July
The Ministry of Trade, Industry and Energy announced on August 15 that July 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 veh...
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 representatives of 11 state-run research institutions for materials and parts at the Korea Research Institute of Chemical Technology (KRICT) in Daejeon on Aug 8. During the meeting, Minister Sung discussed ways to revamp R&D policies in direction to ra...
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...