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Korea’s November exports hit $60 billion for first time in history The Ministry of Trade, Industry and Energy announced on December 1 that Korea’s exports increased 32.1 percent year-on-year to USD 60.4 billion. Imports jumped 43.6 percent to $57.4 billion, resulting in a trade surplus of $3.1 billion. Exports advanced for 13 straight months and exceeded $60 billion for the first time on record in Novem... 2021-12-01
Overall retail sales increase 14.4% in October The Ministry of Trade, Industry and Energy announced on November 29 that Korea’s overall retail sales increased 14.4 percent in October. Both offline and online sales saw growth, up 10.0 percent and 19.7 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are... 2021-11-29
Korea’s automobile industry sees decreases in October due to automotive chip shortage The Ministry of Trade, Industry and Energy announced on November 18 that automobile output, domestic sales, and exports decreased 21.6 percent, 21.4 percent, and 18.1 percent, respectively, for the month of October. Despite the expectation that the global automotive chip shortage would ease in the third quarter, the supply from Southeast Asia ... 2021-11-18
Exports of Korea’s ICT goods expand for 17 consecutive months The Ministry of Trade, Industry and Energy announced on November 11 that exports of Korea’s information and communications technology (ICT) products recorded growth for the 17th consecutive month in October, rising 21.5 percent to $19.9 billion. Imports gained 18.5 percent to $12.1 billion, and the trade balance stood at a surplus of $7.... 2021-11-11
Korea's IP trade balance in the black for the first time   2021-11-10
Exports expand 24% to $55.6 billion in October The Ministry of Trade, Industry and Energy announced on November 1 that Korea’s exports expanded 24.0 percent year-on-year to USD 55.6 billion. Imports jumped 37.8 percent to $53.9 billion and the trade balance recorded a surplus of $1.7, remaining positive for 18 months. Exports in October marked the second highest value in history, and... 2021-11-01
Korean retail industry sees 8.2% increase in sales in September The Ministry of Trade, Industry and Energy announced on October 28 that Korea’s retail sales in September increased 8.2 percent. Both offline and online sales expanded, up 3.3 percent and 14.5 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are physical r... 2021-10-28
Exports of green cars set new record in September The Ministry of Trade, Industry and Energy announced on October 15 that outbound shipments of green cars from Korea set new records in the number of units shipped overseas (34,823 units), value ($1.0 billion) and share of total exports (23.8 percent). Automobile output, domestic sales, exports decreased 33.0 percent, 29.7 percent, and 20.7 per... 2021-10-18