Ministry of Trade, Industry and Energy

Trade Figures for April

date2013-05-02

Korea Introduces “Mini Foreign Investment Zones”

Under the new system, which came into effect on April 17, the minimum required area to designate an investment zone is lowered to 82,500 square meters. Previously, the requirement was 330,000 square meters. In an effort to pursue balanced regional development, the mini foreign investment zones will be designated only outside of the Seoul metropolitan area.     Companies investing in the new zones will receive the benefit of low rental fees, while businesses that invest US$ 1 million or more in the high-technology industry will be exempt from paying rent entirely.     * Released by the Foreign Investment Promotion Division date2013-04-26

Parts and Materials Industry Trade Figures for the First Quarter

Despite unfavorable economic conditions, including a weaker Japanese yen, exports in the parts and materials industry grew by a brisk 5.2 percent year on year. The recovery was led by solid performances in electronic components, electrical machine parts and transportation machine parts. Exports of nonmetallic minerals were boosted by strong demand from LCD panel manufacturers. Due to weaker demand in the global market, outbound shipments fell in basic metals, rubber and plastic materials and textiles. With most trading partners, the nation’s trade balance maintained a surplus. date2013-04-16

Foreign Investment Figures for First Quarter

date2013-04-12

IT Trade Figures for March

date2013-04-11

Trade Figures for March

date2013-04-02

Newly Appointed Vice Minister Takes Office

Newly Appointed Vice Minister Takes Office Incoming Vice Minister for Trade and Energy Han Jinhyun delivers an inaugural address on March 15 at the Gwacheon Government Complex. date2013-03-29

IT Trade Figures for February

date2013-03-08

Trade Figures for February

Exports fell 8.6 percent year on year to $42.3 billion, but the average value of total exports per day rose 2.5 percent to $2.1 billion. While outbound shipments of wireless communications devices and petrochemicals posted robust performances, exports of ships and steel remained sluggish. The double-digit growth in wireless communications devices was thanks to the rapidly expanding global Long Term Evolution (LTE) market and growing sales of major smartphone models. Exports of ships and steel continued to decline amid generally downward trends in major trading partners. With the exception of the ASEAN region, most key trading partners showed negative growth. date2013-03-04

Vice Minister Speaks at IETF 2013

Vice Minister Speaks at IETF 2013 Vice Minister for Trade and Energy Cho Seok attended the 20th International Engineering and Technology Fair in New Delhi on February 15. In his opening remarks, the Vice Minister said he hoped the event would help enhance political, economic and cultural ties between Korea and India. date2013-02-21