Ministry of Trade, Industry and Energy
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FDI pledged to Korea increases 4.8 percent to $3.6 billion in Q3
The Ministry of Trade, Industry and Energy announced on October 10 that the foreign direct investment (FDI) pledged to Korea was USD 3.6 billion in the third quarter, posting a year-on-year growth of 4.8 percent after four straight quarters of contraction. Cumulative announced FDI inflows so far this year totaled $13.5 billion, indicating that the ...
Minister Sung meets with Colombian Commerce Minister in Seoul
Trade, Industry and Energy Minister Sung yun-mo (right) had a meeting with Colombian Commerce, Industry and Tourism Minister Jose Manuel Restrepo Abondano in Seoul on Oct 8. The two ministers exchanged views on ways to boost trade and investment between Korea and Colombia.
Trade Ministry releases a statement on Japan’s export restrictions imposed on Korea since July
The Ministry of Trade, Industry and Energy on October 1 released the government of the Republic of Korea’s statement on Japan’s export restrictions against Korea as 90 days have passed since the July imposition of Japan’s measure.Read the statement here:
September exports decrease 11.7% to $44.7 billion
The Ministry of Trade, Industry and Energy announced on October 1 that Korean exports in September decreased 11.7 percent year-on-year to USD 44.7 billion. Imports fell 5.6 percent to $38.7 billion and the trade balance recorded a surplus of $6.0 billion, remaining positive for 92 consecutive months.The fall in exports was affected by unfavorable e...
Minister Sung meets with U.S. Secretary of Commerce
Trade, Industry and Energy Minister Sung yun-mo (left) and U.S. Secretary of Commerce Wilbur Ross discussed ways to expand trade and investment between Korea and the U.S. in a meeting held in New York. During the talks, Minister Sung stressed Korea should be exempted from potential U.S. auto tariffs.
Korean ICT industry exports goods worth $15.2 billion in August
The Ministry of Trade, Industry and Energy announced on September 22 that the Korean industry of information and communications technology (ICT) exported goods worth USD 15.2 billion in August, down 24.5 percent from a year earlier.Meanwhile, ICT imports inched up 1.9 percent to $8.8 billion, and the trade balance saw a surplus of $6.4 billion.A br...
Minister Sung meets with Kazakh Foreign Minister in Seoul
Trade, Industry and Energy Minister Sung Yun-mo (right) had a meeting with Kazakhstan’s Foreign Minister Beibut B. Atamkulov in Seoul on Sep 16. The two Ministers discussed ways to boost trade and investment between Korea and Kazakhstan and bolster bilateral cooperation as a follow-up to the first Korea-Kazakhstan summit that took plac...
Minister Sung meets with Governor of Indiana
Trade, Industry and Energy Minister Sung Yun-mo (right) had a meeting with Indiana Governor Eric Holcomb and Indiana Secretary of Commerce Jim Schellinger in Seoul on Sep 5. Minister Sung and Governor Holcomb discussed how to promote trade and investment between Korea and Indiana and explored ways to support Korean companies that have operat...
Exports in August fall 13.6% to $44.2 billion
The Ministry of Trade, Industry and Energy announced on September 1 that Korea’s August exports fell 13.6 percent from a year earlier to USD 44.2 billion. Imports decreased 4.2 percent to $42.5 billion and the trade balance showed a surplus of $1.7 billion, staying positive for 91 consecutive months.The decline in exports was affected by seve...
Exports of Korean ICT goods drop 21.8% to $14.5 billion in July
The Ministry of Trade, Industry and Energy announced on August 21 that July exports of Korean information and communications technology (ICT) goods fell 21.8 percent year-on-year to USD 14.5 billion.Inbound shipments, on the other hand, moved up 6.9 percent to $9.7 billion, and trade balance in this sector stood at a surplus of $4.8 billion.By item...