Ministry of Trade, Industry and Energy

Korea’s October exports hit second highest on record

The Ministry of Trade, Industry and Energy announced on November 1 that Korea’s exports in October rose 22.7 percent year-on-year to USD 55 billion, the second highest on record.This achievement was possible because of both internal and external factors. The internal factors include the Korean firms’ pursuit of manufacturing high value products, diversification of exports items, and balanced growth of exports to foreign destinations. The external factors are strong manufacturing indu date2018-11-01

Materials, components exports grow 13.6 percent to $237.9 billion in Q1 - Q3

The Ministry of Trade, Industry and Energy announced on October 18 that exports of 11 types of industrial materials and components in the first three quarters of this year went up 13.6 percent year-on-year to $237.9 billion.Imports also rose 5.1 percent to $131.8 billion and the trade surplus stood at $106.1 billion, surpassing the $100 billion mark for the first time for materials and components.By type, electronic components accounted for 44.0 percent of the total exports. The other two types date2018-10-18

ICT exports in September reach new monthly record of $20.3 billion

The Ministry of Trade, Industry and Energy announced on October 17 that exports of information and communications technology (ICT) products in September increased 5.3 percent year-on-year, reaching the highest monthly record of USD 20.3 billion.ICT imports decreased 11.7 percent to $8.0 billion and Korea stayed as a net ICT exporter with a trade surplus of $12.3 billion.In particular, growths in outbound shipments of semiconductors and computers and peripheral devices helped ICT exports surpass date2018-10-17

Minister Sung meets with French corporate leaders at Korea-France Business Roundtable

Trade, Industry and Energy Minister Sung Yunmo (third from left) had a discussion with French corporate leaders at the Korea-France business roundtable that took place in Paris on October 16.At the meeting, Minister Sung emphasized that the Korean government regards French companies as partners for growth and that it wants to support their businesses in Korea and their cooperation with Korean firms.The event was attended by representatives from 13 French companies, including Airbus, Dassault Sys date2018-10-17

Minister Sung hosts Korea-EU Investment Roundtable 2018 in Paris

Trade, Industry and Energy Minister Sung Yunmo (center in the front row) hosted the Korea-EU Investment Roundtable 2018 in Paris on October 15.During his opening remarks at the event held to strengthen investment cooperation between the two parties, Minister Sung asked for concerted efforts to work towards boosting innovation and technology development, creating future growth engines, and promoting new renewable energy advances.The meeting was attended by representatives of 13 companies from Fra date2018-10-16

FDI pledged to Korea in first three quarters reach record high

The Ministry of Trade, Industry and Energy announced on October 4 that foreign direct investment (FDI) pledged to Korea in the first three quarters of this year reached a record high of USD 19.2 billion, up 41.4 percent from the same period last year.This highest figure ever for the January-September period indicates that Korea is certainly an attractive investment destination as the Asian country engages in many free trade agreements, has an excellent research and investment workforce, and is h date2018-10-04

Korea’s exports remain above $50 billion in September

The Ministry of Trade, Industry and Energy announced on October 1 that exports remained above USD 50 billion in September for five consecutive months. The cumulative exports from January to September grew 4.7 percent year-on-year to a record high of $450.4 billion, indicating robust export growth.When compared to a year earlier, however, September exports decreased 8.2 percent to $50.6 billion because of four fewer working days last month and a high base effect.Average daily exports increased 10 date2018-10-01

August ICT exports set record high of $20.2 billion

The Ministry of Trade, Industry and Energy announced on September 17 that exports of information and communications technology (ICT) products in August hit a record high of USD 20.2 billion.Exports of ICT goods increased 15.5 percent compared to a year earlier. ICT imports were also up 0.4 percent to $8.7 billion, and the trade surplus in this sector stood at $11.5 billion.The historically high exports were led by semiconductors and displays. Overseas shipments of semiconductors went up 30.4 per date2018-09-17

Korea’s August exports surpass $50 billion for first time

The Ministry of Trade, Industry and Energy announced on September 1 that exports last month expanded 8.7 percent year-on-year to USD 51.2 billion, surpassing $50 billion for the first time for August exports. Exports in the first eight months also reached a record high of $399.8 billion, up 6.6 percent from the same period last year.Average daily exports also hit an August record high of $2.1 billion, and won-denominated exports increased 7.8 percent to 57.4 trillion won.The increase in outbound date2018-09-01

July ICT exports top $18.6 billion, led by semiconductors, displays, phones

The Ministry of Trade, Industry and Energy announced on August 16 that exports of information and communication technology (ICT) goods in July were worth USD 18.6 billion, up 18.2 percent year-on-year.   Semiconductors, display panels and mobile phones, the three top ICT export categories, all saw growth simultaneously for the first time since December 2014. ICT exports have now seen double-digit growth for 20 consecutive months, since December 2016.   ICT imports saw an increase o date2018-08-16