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Trade/Investment
Parts and Materials Industry Trade Figures for First Half of 2013
○ All Industries - Exports : $276.7 billion (0.6%) - Imports : $257.1 billion (-2.6%) - Trade Balance : $19.6 billion ○ Parts and Materials - Exports : $130.0 billion (5.2%) - Imports : $81.7 billion (1.5%) - Trade Balance : $48.3 billion ○ Materials - Exports : $43.1 billion (-3.1%) - Imports : $32.3 billion (-4.5%) - Trade Balance : $10.8 billion ○ Parts - Exports : $86.9 billion (9.8%) - Imports : $49.4 billion (5.8%) - Trade Balance : $37.5 billion - Year-on-year growth rates shown in parentheses - The above figures are based on customs clearance data, and as such are only tentative. ○ Exports Materials - Textiles : $2.5 billion (-0.8%) - Compounds and Chemicals : $22.3 billion (3.4%) - Rubber and Plastic Materials : $4.9 billion (0.2%) - Nonmetallic Minerals : $800 million (45.4%) - Basic Metals : $12.7 billion (-15.4%) Parts - Fabricated Metals : $2.3 billion (-4.4%) - General Machine Parts : $11.6 billion (2.3%) - Computer and Office Machine Parts : $2.1 billion (18.6%) - Electrical Machine Parts : $12.2 billion (17.9%) - Electronic Components : $41.1 billion (12.8%) - Precision Machine Parts : $3.1 billion (5.5%) - Transportation Machine Parts : $14.5 billion (4.2%) ○ Imports Materials - Textiles : $1.5 billion (1.9%) - Compounds and Chemicals : $13.8 billion (1.9%) - Rubber and Plastic Materials : $2.4 billion (-7.0%) - Nonmetallic Minerals : $2.1 billion (-2.4%) - Basic Metals : $12.6 billion (-11.2%) Parts - Fabricated Metals : $1.0 billion (3.4%) - General Machine Parts : $10.1 billion (8.1%) - Computer and Office Machine Parts : $1.9 billion (0.6%) - Electrical Machine Parts : $8.2 billion (10.9%) - Electronic Components : $21.3 billion (5.8%) - Precision Machine Parts : $3.1 billion (-3.0%) - Transportation Machine Parts : $4.0 billion (0.7%) ○ Trade Balance Materials - Textiles : $1.0 billion - Compounds and Chemicals : $8.5 billion - Rubber and Plastic Materials : $2.5 billion - Nonmetallic Minerals : -$1.3 billion - Basic Metals : $100 million Parts - Fabricated Metals : $1.3 billion - General Machine Parts : $1.5 billion - Computer and Office Machine Parts : $300 million - Electrical Machine Parts : $4.0 billion - Electronic Components : $19.8 billion - Precision Machine Parts : $15 million - Transportation Machine Parts : $10.5 billion - Year-on-year growth rates shown in parentheses Trade Performance with Major Trading Partners ○ Exports - China : $44.1 billion - Japan : $6.8 billion - Middle East : $6.9 billion - Europe :$14.8 billion - United States : $11.8 billion - Latin America : $7.6 billion - ASEAN : $18.5 billion ○ Imports - China : $21.8 billion - Japan : $17.2 billion - Middle East : $1.1 billion - Europe : $13.8 billion - United States : $9.3 billion - Latin America : $1.3 billion - ASEAN : $ date2013-07-19
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Industry
MOTIE Kickstarts Nano Korea 2013
date2013-07-19
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Trade/Investment
Foreign Investment Figures for First Half of 2013
date2013-07-16
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FTA/Economic Cooperation
Korea, Colombia to Advance Trade Ties
Minister of Trade, Industry and Energy Yoon Sang-jick and his Colombian counterpart Minister of Trade, Industry and Tourism Sergio Diaz-Granados held a meeting on July 8 in Seoul to accelerate the ratification process of the Korea-Colombia Free Trade Agreement, which was signed last February. The two officials reaffirmed the need for ratification as the trade pact is expected to greatly contribute to enhancing economic ties, and they agreed to work together on implementing the deal at the ear date2013-07-12
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Trade/Investment
IT Trade Figures for First Half of 2013
date2013-07-11
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Industry
Car Sales Figures for First Half of 2013
The Ministry of Trade, Industry and Energy has released its car sales figures for the first half of 2013. The nation’s car production fell 4.3 percent to 2,279,790 vehicles mainly due to reduced working hours. Exports for the first six months declined 6.7 percent to 1,587,273 vehicles, with rising overseas production and a weaker Japanese yen as contributing factors. While exports to the United States continued to show modest growth on the back of market recovery, Korea sent fewer cars t date2013-07-11
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FTA/Economic Cooperation
Korea, China Hold 6th Round of FTA Negotiations
The 6th round of Korea-China FTA negotiations took place in Busan from July 2 to July 4 as both sides joined to push for the early completion of a high-level and comprehensive free trade agreement. Director General for FTA Negotiations Kim Young-moo led the Korean delegation, which consisted of officials from the relevant authorities including Ministry of Strategy and Finance; the Ministry of Agriculture, Food and Rural Affairs; and the Ministry of Oceans and Fisheries. The Chinese delegation was headed by Deputy Director-General of the International Department of the Ministry of Commerce, Sun Yuanjiang. The two nations reached or neared agreement on the “draft modality,” or basic framework for the talks, in the areas of services, investment, rules of origin, customs procedure, trade remedies and intellectual property rights. The delegations also came closer to agreement on most of the basic guidelines for the topic of trade in goods, including the level of liberalization. Additionally, the two sides agreed to broaden the scope of the talks to include competition, transparency, sanitary and phytosanitary (SPS), technical barriers to trade (TBT), E-commerce, the environment and economic cooperation. The two nations will continue to enhance mutual understanding on existing differences. The next round of negotiations is expected to be held in China, with the exact schedule to be determined after further consultations between the two parties. * Released by the Bureau of East Asia FTA date2013-07-11
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FTA/Economic Cooperation
Korea, UK Discuss Economic Cooperation
date2013-07-08
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Energy
Korea, Abu Dhabi to Enhance Energy Ties
date2013-07-05
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FTA/Economic Cooperation
Korea, Indonesia Seek Greater Economic Ties
date2013-07-04