Ministry of Trade, Industry and Energy

Ministry hosts 2017 Seoul International conference on Trade and Industry

Deputy Minister for Trade Kang Sung-chun spoke at the 2017 Seoul International Conference on Trade and Industry at the COEX in southern Seoul on November 6.  The Ministry of Trade, Industry and Energy hosted the conference with the Korea International Trade Association (KITA) under the theme of “A New Cooperation Paradigm for Realizing Free and Inclusive Trade.” The Korea Institute for International Economic Policy (KIEP) organized the event. In his welcoming speech, Deputy Mi date2017-11-06

Korea’s exports rise by 7.1% to $45 billion in October

The Ministry of Trade, Industry and Energy announced on October 1 that Korea’s exports rose by 7.1 percent to USD 45 billion in October despite fewer working days.    Exports of goods grew for the 12th consecutive month and outbound shipments of semiconductors reached the second highest on record although October this year had 4.5 fewer working days compared to a year earlier, according to the Ministry’s analysis of preliminary customs data.    The average dai date2017-11-01

Trade Minister discusses cooperation with MIGA CEO

Trade Minister Kim Hyun-chong (left) held a meeting with Multilateral Investment Guarantee Agency (MIGA) CEO Keiko Honda at the COEX in southern Seoul on October 19. During the meeting joined by Korea Trade Insurance Corporation Chairman Moon Jae-do, the Trade Minister and the MIGA CEO discussed ways to cooperate for Korean companies’ participation in overseas development projects.    date2017-10-19

ICT exports soar 32.6% to record high of $19.3 billion in September

The Ministry of Trade, Industry and Energy announced on October 16 that exports of information and communication technology goods soared 32.6 percent to an all-time high of $19.3 billion in September from a year ago, breaking the previous record set just a month earlier.    Korea’s ICT exports grew at the fastest pace in 89 months since April 2010 and at a double-digit rate for 10 consecutive months.    Imports of ICT goods surged 23.8 percent year-on-year to $9.1 b date2017-10-16

FDI in Korea grows 9.1% to $8 billion in first 9 months of 2017

The Ministry of Trade, Industry and Energy announced on October 11 that foreign direct investment (FDI) arriving in Korea returned to growth in the first nine months of 2017, rising by 9.1 percent to $8 billion from a year ago.   Although new FDI commitments to Korea contracted 9.7 percent year-on-year to $13.6 billion, the amounts of both FDI arrivals and newly pledged FDI are the third highest on record since the government started tracking them in 1962.   The Ministry evaluates date2017-10-11

Korea’s exports hit a record $55.1 billion in September

The Ministry of Trade, Industry and Energy announced on October 1 that Korea’s exports reached an all-time high of USD 55.1 billion in September, soaring 35 percent from a year earlier.   The strongest performance since the Korean government started tracking trade data in 1956 was achieved as exports of semiconductors and steel hit record highs and various sectors posted double-digit growths in exports.    The growth rate is the highest in 80 months since January 2011, a date2017-10-01

Minister Paik shares policy directions with foreign investors

Trade, Industry and Energy Minister Paik Ungyu (second from left) spoke at the Ministerial Roundtable for Investors in a hotel in downtown Seoul on September 26. The Ministerial Roundtable for Investors was organized by the Ministry of Trade, Industry and Energy to inform foreign investors the directions of the new government’s economic policies and stable policies on foreign investment. The roundtable was also designed to resolve foreign investors’ concerns stemming from external a date2017-09-26

ICT exports hit all-time high in August, up nearly 24%

The Ministry of Trade, Industry and Energy announced on September 13 that exports of information and communication technology (ICT) goods hit all-time high in August, rising 23.9 percent to USD 17.5 billion from a year ago on record semiconductor sales.    Exports in the ICT sector advanced for 10 consecutive months and at a double digit rate for 9 straight months. For seven consecutive months, ICT exports set a new record for each month.    Imports of ICT goods 13.3 perc date2017-09-13

Exports grow 17.4% to $47.1 billion on record semiconductor sales in August

The Ministry of Trade, Industry and Energy announced on September 1 that Korea’s exports jumped 17.4 percent to USD 47.1 billion in August on record outbound shipments of semiconductors.   Exports expanded at a double-digit rate for the eighth consecutive month for the first time in 71 months since September 2011. The average daily exports rose by 17.4 percent to $2 billion and won-denominated exports surged 19.4 percent to 53.3 trillion won. Both export prices and volume advanced. date2017-09-01

Trade Minister presides meeting to review exports in major sectors

Trade Minister Kim Hyun-chong (second from left) discussed trade issues with industry representatives at a meeting to review exports in Korea’s major sectors in downtown Seoul on August 24.  Trade Minister Kim, who presided the meeting held in the Korea Trade Insurance Corp. (K-sure), said that the Korean government will actively respond to trade protectionism, strengthen economic cooperation with emerging markets, and help boost the link between trade and industrial development.&nbs date2017-08-24