Ministry of Trade, Industry and Energy

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

Korea’s exports jump 6.2 percent in July

The Ministry of Trade, Industry and Energy announced on August 1 that exports topped USD 51.9 billion in July, returning to year-on-year growth after a month of contraction.   The value of average daily exports advanced 4.0 percent compared to July 2017 to hit $2.2 billion, growing for three consecutive months. Average daily exports excluding ships jumped 15.1 percent to $2.1 billion, continuing a 21-month growth streak.   The volume of overall outbound shipments advanced 3.3 perce date2018-08-01

June ICT exports hit $19.1 billion

The Ministry of Trade, Industry and Energy announced on July 18 that exports of information and communication technology (ICT) goods in June were worth more than USD 19.1 billion. The monthly export figure is tied for the second-highest ever.   Exports of ICT goods in June surged 20.4 percent compared to a year earlier, achieving double-digit year-on-year growth for the 19th consecutive month, since December 2016.    ICT imports inched downward 3.0 percent year-on-year to $8.6 date2018-07-18

Industrial materials, components exports hit record high in H1

The Ministry of Trade, Industry and Energy announced on July 19 that exports of industrial materials and components set a new record of USD 155.6 billion in the first half of 2018, growing 15.6 percent year-on-year.   Imports and trade surpluses of 11 types of materials and components were also at an all-time high. Imports rose 8.2 percent to $88.1 billion and the trade surplus stood at $67.5 billion.   Exports of both materials and components achieved double-digit growth of 14.2 p date2018-07-18

June exports inch down 0.1 percent

The Ministry of Trade, Industry and Energy announced on July 1 that Korea’s exports recorded USD 51.2 billion in June, inching downward 0.1 percent year-on-year. This was due to the high base effect from the large-scale exports seen a year earlier. Average daily exports grew 6.9 percent year-on-year to $2.4 billion, achieving growth for two months in a row. Average daily exports excluding ships jumped 21.7 percent to $2.3 billion, growing for 20 straight months.    Im date2018-07-01

ICT exports continue to show double-digit growth in May

The Ministry of Trade, Industry and Energy announced on June 18 that exports of information and communication technology (ICT) goods marked their fourth-highest monthly figure of USD 18.6 billion in May.Exports of ICT goods were up 20.6 percent compared to a year earlier, achieving double-digit year-on-year growth for the 18th consecutive month, since December 2016.ICT imports also jumped 9.0 percent year-on-year to $8.7 billion, and the trade surplus in this sector stood at $9.8 billion.The con date2018-06-18