Ministry of Trade, Industry and Energy

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

ICT exports reach record high for July

The Ministry of Trade, Industry and Energy announced on August 9 that exports of information and communication technology (ICT) goods jumped 20.9 percent to $15.7 billion in July, setting a new record for the month.    Korea has posted record-high exports for each month for six consecutive months since February. A significant expansion in semiconductor exports as well as double-digit increases in shipments to major markets including China, Vietnam, the U.S., and the European Union (E date2017-08-09

Trade Minister takes office

Newly appointed Trade Minister Kim Hyun-chong of the Ministry of Trade, Industry and Energy delivered a speech at his inauguration ceremony held in the Government Complex Sejong on Aug. 4. Trade Minister Kim brings a wealth of experience and expertise in trade policies. He served as the Trade Minister at the Ministry of Foreign Affairs and Trade in 2004 and negotiated the Korea-U.S. Free Trade Agreement (FTA) during his tenure. He was the Korean ambassador to the United Nations between 2007 and date2017-08-04

Korea’s exports surge 19.5% to $48.9 billion in July

The Ministry of Trade, Industry and Energy announced on August 1 that Korea’s exports expanded 19.5 percent to USD 48.9 billion in July as outbound shipments of high-value products significantly rose and markets diversified.    Exports grew at a double-digit rate for the seventh consecutive month for the first time in 70 months since September 2011. The average daily exports went up 19.5 percent to $2.1 billion, while won-denominated exports surged 18.5 percent to $55.4 trillio date2017-08-01

Material, component exports jump 10.5% to $134.4 billion in 1st half

The Ministry of Trade, Industry and Energy announced on July 19 that exports of industrial materials and components jumped 10.5 percent to USD 134.4 billion in the first half, marking the first double-digit growth in six years since the second half of 2011.    Outbound shipments of 12 types of materials and components surged 10.3 percent to $68.6 billion in the second quarter from a year earlier and expanded 10.7 percent to $65.8 billion in the first quarter.    Both expo date2017-07-19

ICT exports soars 18% to new record for June

The Ministry of Trade, Industry and Energy announced on July 12 that exports of information and communication technology (ICT) goods soared 18 percent to USD 15.9 billion in June, a new record for the month.    Outbound shipments in the ICT sector expanded for eight consecutive months and at a double-digit rate for seven straight months as semiconductor exports continued to grow at a fast pace.    Imports of ICT goods jumped 21.7 percent to $8.9 billion. Trade surplus in date2017-07-12