Ministry of Trade, Industry and Energy

Korea’s November exports grow 4.0% to $45.8 billion

The Ministry of Trade, Industry and Energy announced on November 1 that Korea’s exports in November increased 4.0 percent from a year earlier to USD 45.8 billion. Imports edged down 2.1 percent to $39.9 billion. The trade balance stood at a surplus of $5.9 billion, moving up for 7 straight months. It is the third consecutive month that the trade balance recorded more than $5.0 billion. November exports showed that the economic recovery is gaining momentum. The export growth remained posi date2020-12-01

Korean ICT industry sees sales growth for 5 straight months

The Ministry of Trade, Industry and Energy announced on November 16 that Korea exported USD 16.4 billion worth of information and communications technology (ICT) goods in October. This is a 6.0 percent rise from a year earlier and the fifth consecutive month of increase. ICT imports totaled $10.2 billion, resulting in a trade surplus of $6.2 billion. By item, outbound shipments of semiconductors, displays, computers and peripherals expanded, while those of mobile phones contracted. Shipments date2020-11-16

MOTIE hosts 2020 Invest KOREA Week (IKW)

The 2020 Invest KOREA Week (IKW), an investor relations event hosted by the Ministry of Trade, Industry and Energy and organized by Korea Trade-Investment Promotion Agency (KOTRA) kicked off on November 11 with the slogan “Smart Innovation & Safe Growth with Korea”.This year’s event, the 16th of its kind, is held virtually due to COVID-19 concerns and is expected to attract foreign investors through various programs such as Global Innovation Forum, Forum on Leading Industri date2020-11-11

October exports in Korea decrease 3.6% to $45.0 billion

The Ministry of Trade, Industry and Energy announced on November 1 that Korea’s exports in October saw a year-on-year decline of 3.6 percent to USD 45.0 billion. Imports went down 5.8 percent to $39.0 billion, resulting in a trade surplus of $6.0 billion. The exports in October experienced a slight decrease (down 3.6 percent) due to fewer working days. However, the average daily exports rose 5.6 percent to $2.1 billion, rebounding for the first time in nine months. The average daily expor date2020-11-02

Korea’s ICT exports rise for 4 straight months, up 11.9% to $17.6 billion in September

The Ministry of Trade, Industry and Energy announced on October 15 that Korean information and communications technology (ICT) exports in September went up for the 4th consecutive month and posted a year-on-year growth of 11.9 percent to USD 17.6 billion. Imports also rose 9.0 percent to $9.6 billion, and the trade balance stood at a surplus of $8.1 billion. By item, outbound shipments of semiconductors, displays, computers and peripherals went up, while those of mobile phones went down. Ship date2020-10-15

Foreign direct investment pledged to Korea rise 43.6% to $5.2 billion in Q3

The Ministry of Trade, Industry and Energy announced on October 13 that foreign direct investment (FDI) pledged to Korea totaled USD 5.2 billion in the third quarter, posting a year-on-year growth of 43.6%. Cumulative announced FDI inflows this year reached $12.9 billion. Over the July-September period, the FDI pledges marked the record-high amount for the third quarter as current investors greatly expanded their investment. Investments in high-tech materials, parts, and research and developme date2020-10-13

Korea’s September exports post growth for first time since COVID-19, up 7.7% to $48.1 billion

The Ministry of Trade, Industry and Energy announced on October 1 that Korea’s exports in September went up 7.7 percent to USD 48.1 billion, rebounding for the first time since the outbreak of COVID-19. Imports also increased 1.1 percent to $39.2 billion, resulting in a trade surplus of $8.9 billion. The September exports recorded growth for the first time in seven months, and the percentage of increase was the highest since October, 2018. The trade surplus also marked the largest figure date2020-10-01

Korea’s August exports of ICT products rise for 3rd consecutive month, up 0.3% to $15.2 billion

The Ministry of Trade, Industry and Energy announced on September 15 that Korean information and communications technology (ICT) exports posted a year-on-year growth of 0.3 percent to USD 15.2 billion. Imports also rose 4.3 percent to $9.2 billion, and the trade balance stood at a surplus of $6.1 billion. By item, outbound shipments of semiconductors, computers and peripherals went up, while those of displays and mobile phones went down. Chip exports increased 2.6 percent to $8.3 billion. Mem date2020-09-15

Korea’s exports in August fall 9.9 percent to $39.7 billion

The Ministry of Trade, Industry and Energy announced on September 1 that Korea’s exports in August decreased 9.9 percent to USD 39.7 billion. Imports fell 16.3 percent to $35.5 billion, resulting in a trade surplus of $4.1 billion. The August exports recorded a single-digit decline for the second consecutive month despite fewer working days (down 1.5 days). Daily exports went down only 3.8 percent, showing the smallest decline since the outbreak of COVID-19. Four out of 15 major export i date2020-09-01

Korea’s ICT exports in July advance 3.3% to $15.0 billion

The Ministry of Trade, Industry and Energy announced on August 13 that Korean information and communications technology (ICT) industry’s export growth in July posted a year-on-year growth of 3.3 percent to USD 15.0 billion. Imports inched up 1.2 percent to $9.9 billion, and the trade balance stood at a surplus of $5.1 billion. By item, shipments of semiconductors, mobile phones, computers and peripherals saw growth while those of displays saw a decline. Outbound shipments of semiconduct date2020-08-13