Ministry of Trade, Industry and Energy

Minister Paik meets Abu Dhabi Executive Affairs Authority Chairman in UAE

Trade, Industry and Energy Minister Paik Ungyu (right) met Abu Dhabi Executive Affairs Authority Chairman Khaldoon Khalifa Al Mubarak during his visit to Abu Dhabi, the United Arab Emirates (U.A.E.), on February 26 (U.A.E. local time).During the meeting, Minister Paik and Chairman Al Mubarak discussed ways to enhance cooperation in industry and energy sectors. date2018-02-26

ICT exports rise 28.1% to $17.7 billion in January

The Ministry of Trade, Industry and Energy announced on February 13 that exports of information and communication technology (ICT) goods rose 28.1 percent year-on-year to USD 17.7 billion in January.Exports of ICT goods saw double-digit growth for the 14th consecutive month since December 2016, while reaching a record-high for each respective month for 12 straight months.The double-digit growth in ICT exports was led by a 53.8 percent year-on-year increase in outbound shipments of semiconductors date2018-02-21

Korea’s exports expand 22.2% to $49.2 billion in January

The Ministry of Trade, Industry and Energy (MOTIE) announced on February 1 that Korea’s exports in January expanded 22.2 percent year-on-year to USD 49.2 billion, posting an all-time January record high. Exports of goods increased for 15 consecutive months, achieving a double-digit growth in four months since September 2017. The average daily exports of goods rose 9.5 percent to $2.1 billion from a year earlier. Won-denominated exports increased 10 percent to 52.5 trillion won. Export pr date2018-02-01

ICT exports hit record high in 2017

The Ministry of Trade, Industry and Energy announced on January 16 that exports of information and communication technology (ICT) products surged 21.6 percent to a record USD 197.6 billion in 2017 from a year ago, surpassing $190 billion for the first time. In 2017, exports of ICT products, including semiconductors, mobile phones, computers and display panels, recorded a double-digit growth for the first time in seven years since 2010. Exports also achieved a monthly high for each month from Fe date2018-01-19

Minister Paik meets Abu Dhabi Executive Affairs Authority Chairman

Trade, Industry and Energy Minister Paik Ungyu (right) greeted Abu Dhabi Executive Affairs Authority Chairman Khaldoon Khalifa Al Mubarak at a hotel in downtown Seoul on January 9.   During their breakfast meeting, Minister Paik and Chairman Al Mubarak discussed cooperation between the governments of Korea and the United Arab Emirates (UAE) for the successful completion and operation of the Barakah nuclear power plant, which is under construction by a Korean consortium. They exchanged vie date2018-01-10

Korea, US kick off talks to amend Korea-US FTA

Director General for Trade Policy Bureau Yoo Myung-hee (right) of the Ministry of Trade, Industry and Energy (MOTIE) discussed amendments of the Korea-U.S. Free Trade Agreement (KORUS FTA) with Assistant U.S. Trade Representative for Japan, Korea and APEC Michael Beeman (left) in Washington D.C. on January 5, 2018.     Officials of the MOTIE and the U.S. Trade Representative (USTR) met in the Office of the USTR for the first round of negotiations on amendments of the KORUS FTA. The date2018-01-06

Korea’s exports surge by 15.8% to record $573.9 billion in 2017

The Ministry of Trade, Industry and Energy announced on January 1 that Korea’s exports surged by 15.8 percent to a record $573.9 billion in 2017 from a year earlier. Exports of goods expanded at a double-digit rate for the first time in six years since 2011, surpassing the previous record of $572.7 billion set in 2014, despite the fact that there were 1.5 fewer working days compared to the said year. The average daily export reached an all-time high of $2.1 billion. With imports expandin date2018-01-05

FDI inflows hit record high of $22.9 billion in 2017

The Ministry of Trade, Industry and Energy announced on January 3 that foreign direct investment (FDI) pledged to Korea in 2017 advanced 7.7 percent year-on-year to a record USD 22.9 billion.The upward trend in FDI was maintained by achieving more than $20 billion for three years in a row.FDI arrivals in 2017 also increased 20.9 percent to $12.8 billion, indicating that despite global and domestic economic uncertainties, foreign investors are confident in the Korean economy.While newly pledged F date2018-01-03

ICT exports jump 25.9% to $18.6 billion in November

The Ministry of Trade, Industry and Energy announced on December 14 that exports of information and communication technology (ICT) goods jumped 25.9 percent to USD 18.6 billion, the second highest on record, in November from a year earlier on strong demand for semiconductors.     Exports of ICT goods increased at double-digit rates for 12 consecutive months, and reached a record-high for each respective month for 10 straight months.    Imports surged 17.1 percent yea date2017-12-14

Ministry hosts 54th Trade Day ceremony

Trade, Industry and Energy Minister Paik Ungyu (second from right in the front row) and Trade Minister Kim Hyun-chong (right in the front row) attended the 54th Trade Day ceremony at the COEX in southern Seoul on December 5.  The Ministry and the Korea International Trade Association (KITA) hosted the Trade Day ceremony to celebrate the recovery of trade and encourage businesses that have contributed to growths in exports and the Korean industries’ expansion to overseas markets. Six date2017-12-05