Ministry of Trade, Industry and Energy
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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...
Trade Minister Yoo presides over 14th trade promotion meeting in Seoul
Trade minister Yoo Myung-hee chaired the 14th trade promotion meeting in Seoul on Aug 16 to review current trade issues. During the meeting, Trade Minister Yoo stressed that Korea will seek new free trade agreements (FTAs) this year to diversify markets for Korea’s exports amid growing external uncertainties such as Japan’s lates...
Korea’s July exports decrease 11% to $46.1 billion
The Ministry of Trade, Industry and Energy announced on August 1 that Korea’s exports in July decreased 11.0 percent year-on-year to USD 46.1 billion. Imports also declined 2.7 percent to $43.7 billion, and the trade balance stood at a surplus of $2.4 billion, remaining positive for 90 straight months.The decrease in exports was due to a mix ...
Trade Minister Yoo’s remarks regarding Japan’s export controls against the ROK
Trade Minister Yoo Myung-hee’s remarks on Japan’s tighter export controls against the Republic of Korea were issued on July 4 prior to a discussion of the matter with relevant organizations and agencies such as the Korea Semiconductor Industry Association (KSIA), the Korea Display Industry Association (KDIA), and the Korea International...
Minister Sung’s statement on Japan’s export controls against the ROK
Trade, Industry and Energy Minister Sung Yun-mo’s statement regarding Japan’s export controls against the Republic of Korea was issued on July 1 before a meeting was held to assess the country’s export conditions with relevant agencies and industry groups. Read the full statement:
Letter by the ROK government regarding Japan’s plan to revise its export controls (Summary)
The government of the Republic of Korea (ROK) sent a letter to its Japanese counterpart last week to address the fact that Japan's planned amendments to its Export Trade Control Order are not based on sufficient grounds. The revisions are designed to remove the ROK from its white list for trade.Read the summary of the letter:
Statement to media by Minister Sung on MOTIE's letter sent to Japan's METI
Trade, Industry and Energy Minister Sung Yun-mo said in a press briefing on Wednesday that the Ministry delivered an official letter to Japan calling for the immediate restoration of normality by canceling its export restriction plan.Read the full statement:
Korea’s ICT exports in June fall 22.4% to $14.8 billion
The Ministry of Trade, Industry and Energy announced on July 22 that Korea’s exports of information and communications technology (ICT) goods in June decreased 22.4 percent year-on-year to USD 14.8 billion.Imports inched down 0.9 percent to $8.6 billion, which made the country’s trade surplus in this sector $6.3 billion.By item, exports...
Foreign direct investment pledged to Korea reach $9.9 billion in H1
The Ministry of Trade, Industry and Energy announced on July 11 that foreign direct investment (FDI) pledged to Korea in the first half of this year dropped 37.3 percent year-on-year to USD 9.9 billion. The FDI received by the country over the same period decreased 45.2 percent to $5.6 billion. These declines are mostly attributable to a base effec...
Korean exports in June decrease 13.5% to $44.2 billion
The Ministry of Trade, Industry and Energy announced on July 1 that Korea’s exports in June decreased 13.5 percent year-on-year to USD 44.2 billion. Its imports declined 11.1 percent to 40 billion, resulting in a trade surplus of $4.2 billion.Exports from January to June went down 8.5 percent to $271.6 billion compared to the same period last...