Ministry of Trade, Industry and Energy

Korea’s exports grow 9.6% to $50 billion in November

The Ministry of Trade, Industry and Energy announced on December 1 that Korea’s exports in November grew 9.6 percent to USD 50 billion, a record for the month.  Exports of goods rose for the 13th consecutive month for the first time in 71 months since December 2011. The average daily exports of goods rose by 9.6 percent to $2.1 billion. Won-denominated exports increased 4.3 percent to 54.9 trillion won.  The total exports between January and November reached an all-time high of date2017-12-01

ICT exports rise 20.6% to $18 billion in October

The Ministry of Trade, Industry and Energy announced on November 15 that exports of information and communication technology goods rose by 20.6 percent to USD 18 billion, the second highest on record, in October from a year ago.   For nine consecutive months between February and October, Korea’s ICT sector posted record-high exports for each respective month. Exports of ICT goods also grew at double-digit rates for 11 straight months.   Imports in the ICT sector advanced 11 p date2017-11-15

Minister Paik promotes investment at 2017 Foreign Company Day

Trade, Industry and Energy Minister Paik Ungyu spoke at the 17th Foreign Company Day at a hotel in Seoul on November 7.  The Ministry of Trade, Industry and Energy and the Korea Foreign Company Association (FORCA) co-hosted the annual event to promote foreign investment into Korea.  In his speech, Minister Paik underscored the contribution of foreign companies to the Korean economy – There are more than 17,000 foreign-invested firms registered in Korea and they represent 12 per date2017-11-07

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