Ministry of Trade, Industry and Energy

Materials, components exports rose 11.8 percent to $316.2 billion in 2018

The Ministry of Trade, Industry and Energy announced on January 17 that exports of 11 types of industrial materials and components in 2018 rose 11.8 percent year-on-year to USD 316.2 billion.Imports also improved 5.3 percent to $177.2 billion, making the trade surplus stand at $139.1 billion.By type, electronic components were responsible for 43.8 percent of the total exports. They were followed by chemical products and primary metals, which represented 15.6 percent and 8.9 percent, respectively date2019-01-17

Korea’s ICT industry posts record-breaking exports of $220.4 billion in 2018

The Ministry of Trade, Industry and Energy announced on January 17 that Korea’s information and communications technology (ICT) Industry posted record-breaking exports of USD 220.4 billion in 2018.Outbound shipments of ICT goods last year increased 11.5 percent compared to 2017, achieving double-digit growth rates for two years in a row. Monthly ICT exports have also been increasing for 24 consecutive months.Imports by the ICT sector in 2018 reached $107.1 billion, resulting in a trade sur date2019-01-17

Vice Minister Cheong delivers speech at conference for global market entry strategies

Trade, Industry and Energy Vice Minister Cheong Seung-il delivered a congratulatory speech at the conference for global market entry strategies in Seoul on January 9.After expressing his gratitude to Korea’s exporters for their efforts, Vice Minister Cheong said that the Korean government will focus on the revitalization and innovation strategies for the manufacturing sector in order to globalize materials, components, and equipment, to encourage smart and eco-friendly operations of major date2019-01-09

FDI pledged to Korea reach record-breaking $26.9 billion in 2018

The Ministry of Trade, Industry and Energy announced on January 3 that foreign direct investments (FDI) pledged to Korea in 2018 reached a record-breaking USD 26.9 billion, up 17.2 percent from a year earlier.The increasing trend of FDI commitments continued last year, achieving more than $20 billion for four years in a row.FDI pledged through the second quarter reached a record $15.8 billion, thanks to foreign investment growth momentum that started in the fourth quarter of 2017. This led the a date2019-01-03

Korea’s trade value reaches record high of $1.1 trillion in 2018

The Ministry of Trade, Industry and Energy announced on January 1 that Korea’s trade value in 2018 reached a record high of USD 1.1 trillion, exceeding the $1 trillion mark for two straight years. The country’s annual exports posted a 5.5 percent growth to $605.5 billion, which is also an unprecedented achievement. With imports rising 11.8 percent to $535.0 billion, Korea remained as a net exporter for 10 consecutive years with a trade surplus of $70.5 billion.Compared to other years date2019-01-01

Minister Sung visits Korea’s largest port in Busan to encourage shipping industry workers

Trade, Industry and Energy Minister Sung Yunmo (second from the left) visited the city of Busan, Korea’s largest port, to encourage shipping industry workers who are at the frontline of the country’s exports on January 1.At the port, Minister Sung said that last year’s Korean exports surpassed USD 600 billion for the first time ever, which indicates that Korean businesses and their products have reached the world’s advanced level.He attributed this achievement to the dive date2019-01-01

Korea’s annual ICT exports surpass $200 billion for first time

The Ministry of Trade, Industry and Energy announced on December 18 that Korea’s exports of information and communications technology (ICT) goods from January to November this year reached a record USD 204.5 billion, surpassing the $200 billion mark for the first time.However, the exports of ICT goods in November saw a slight decrease of 1.7 percent, posting the first decline in 25 months. This is primarily due to a slowdown in the expansion of semiconductors and sluggish sales of mobile p date2018-12-18

Ministry hosts 55th Trade Day Ceremony

The Ministry of Trade, Industry and Energy held the 55th Trade Day Ceremony with the Korea International Trade Association (KITA) to celebrate the country’s trade achievements at COEX in Seoul on December 7. In 2018, Korea’s trade grew at the fastest rate to reach USD 1 trillion, and its exports are expected to surpass $600 billion for the first time ever. Particularly, outbound shipments of semiconductors, general machinery, and petrochemicals are all projected to break their recor date2018-12-07

Minister Sung attends Korea’s 55th Trade Day Ceremony

Trade, Industry and Energy Minister Sung Yunmo (center) attended Korea's 55th Trade Day Ceremony to celebrate this year’s trade achievement at COEX in Seoul on December 7.In 2018, Korea’s trade grew at the fastest rate to reach USD 1 trillion, and its exports are expected to surpass $600 billion for the first time ever.During a reception after the ceremony, Minister Sung expressed gratitude for the efforts and commitment of trade workers and stressed that now is the time to seek fund date2018-12-07

Korea’s November exports continue to stay above $50 billion

The Ministry of Trade, Industry and Energy announced on December 1 that Korea’s exports in November rose 4.5 percent to USD 51.9 billion from the same period of last year, exceeding $50 billion for seven straight months for the first time.This is also the first time the country has seen an export value that is greater than $50 billion for any November exports. Average daily exports also increased 4.5 percent to $2.2 billion, which is the largest among any November export value. Won-denomin date2018-12-01