Ministry of Trade, Industry and Energy

K-beauty boom makes S.Korea the fourth-largest cosmetics exporter

K-beauty boom makes S.Korea the fourth-largest cosmetics exporter date2021-05-06

Korea’s exports in April jump 41.1% to $51.2 billion

The Ministry of Trade, Industry and Energy announced on May 1 that Korea’s exports in April jumped 41.1 percent to USD 51.2 billion. Imports expanded 33.9 percent to $50.8 billion, resulting in a trade surplus of $388 million. Exports in April recorded the sharpest year-on-year growth since January 2011. This is a noticeable improvement, way above the base effect from last year’s contraction (down 25.6 percent). The export value exceeded $50.0 billion for two months in a row, markin date2021-05-03

Korea’s ICT exports in March rise 8.9% to $17.4 billion

The Ministry of Trade, Industry and Energy announced on April 14 that outbound shipments of Korea’s information and communications technology (ICT) goods in March increased 8.9 percent to USD 17.4 billion.   Imports of ICT products totaled $10.9 billion, and the trade surplus stood at $6.5 billion.   Exports of all major items experienced growth in March.   Chip exports gained 7.9 percent to $9.6 billion and recorded growth for nine straight months. Both memory chips ( date2021-04-14

Minister Sung holds discussion with trade, industry experts

Trade, Industry and Energy Minister Sung Yunmo (center) held a meeting with trade and industry representatives in Seoul, on April 8, to discuss various trade issues including recent trends in global trade, Korea’s exports following COVID-19 outbreak, and prospects for new industries.   Minister Sung stressed the need to continue with the development of high value-added export items and establish an export system resistant to crisis for global supply chain security.   date2021-04-08

Minister Sung talks with commercial attachés

Trade, Industry and Energy Minister Sung Yunmo held a virtual meeting with 51 commercial attachés in 35 countries at the government complex in Sejong, on April 5, to discuss measures to revitalize exports and respond to global trade issues such as climate change, digital transformation, and technology security. date2021-04-06

FDI pledged to Korea amount to $4.7 billion in Q1

The Ministry of Trade, Industry and Energy announced on April 5 that foreign direct investments (FDIs) pledged to Korea in the first quarter of this year jumped 44.7 percent year-on-year to USD 4.7 billion. The FDIs that actually arrived in Korea over the same period also went up 42.9 percent to $4.3 billion. Despite difficult external circumstances amid COVID-19, FDI arrivals hit the record high quarterly value for the first quarter in history. Investment that was delayed due to the virus outb date2021-04-05

Korea’s March exports advance 16.6% to $53.8 billion

The Ministry of Trade, Industry and Energy announced on April 1 that Korea’s exports in March increased 16.6 percent to USD 53.8 billion. Imports grew 18.8 percent to $49.7 billion. The trade balance stood at a surplus of $4.2 billion, remaining positive for 11 straight months. The average daily exports went up 16.6 percent to $2.2 billion, hitting the record high value for the month of March in history. Exports posted growth for the fifth consecutive month, and the export value exceeded date2021-04-01

South Korea's secondary battery exports reach all-time highs for 5 years in a row

South Korea's secondary battery exports reach all-time highs for 5 years in a row date2021-03-30

ICT exports record 11.5% growth to $15.3 billion in February

The Ministry of Trade, Industry and Energy announced on March 15 that outbound shipments of Korea’s information and communications technology (ICT) goods in February stood at USD 15.3 billion, recording a year-on-year growth of 11.5 percent.   Imports of ICT products expanded 19.3 percent to $9.2 billion, and the trade surplus in this sector was $6.1 billion.   Exports of all major items experienced growth except for computers and peripheral devices.   Outbound shipmen date2021-03-15

Korea announces plan to achieve $700 billion in annual exports by 2025

The Ministry of Trade, Industry and Energy, jointly with relevant ministries, announced on March 10 the strategy to achieve $700 billion in annual exports by 2025 through expansion of future growth engines and innovation in trade structures.   The government plans to invest 5 trillion won (USD 4.4 billion) to foster prominent trade items in areas including bio-health, and spend 20 trillion won (USD 17.5 billion) on trade financing for services in contents, digital, healthcare, edutech, fi date2021-03-10