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October retail sales in Korea expand 8.4% The Ministry of Trade, Industry and Energy announced on November 23 that Korea’s overall retail sales in October went up 8.4 percent compared to the same period last year.Sales of offline and online retailers improved 2.1 percent and 17.1 percent, respectively.The Ministry releases monthly retail sales figures based on surveys of 26 major ret... 2020-11-23
[JOINT MINISTERIAL STATEMENT - 31ST APEC MINISTERIAL MEETING 2020] JOINT MINISTERIAL STATEMENT 31st APEC MINISTERIAL MEETING 2020We, the APEC Ministers, met on 16 November 2020, under the Chairmanship of The Honourable Dato' Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry, Malaysia. This marks the first time that the APEC Ministerial Meeting (AMM) has convened virtuall... 2020-11-17
Korea's automobile output, exports fall in October, domestic sales increase The Ministry of Trade, Industry and Energy announced on November 16 that Korea’s automobile output and exports in October lost 4.3 percent and 3.2 percent, respectively. However, domestic sales inched up 1.7 percent despite fewer working days.The number of vehicles produced by Korean automakers dipped 4.3 percent to 336,279. The primary reaso... 2020-11-16
Korean ICT industry sees sales growth for 5 straight months The Ministry of Trade, Industry and Energy announced on November 16 that Korea exported USD 16.4 billion worth of information and communications technology (ICT) goods in October. This is a 6.0 percent rise from a year earlier and the fifth consecutive month of increase.ICT imports totaled $10.2 billion, resulting in a trade surplus of $6.2 billion... 2020-11-16
Government to promote middle market enterprises to become key players of Korean New Deal The Ministry of Trade, Industry and Energy, jointly with relevant ministries, announced on November 12 at the policy coordinating meeting on key state affairs that it will strengthen support for hidden champions and middle-market enterprises to become key players of the Korean New Deal.Under the new growth strategy for hidden champions and middle-m... 2020-11-13
MOTIE hosts 2020 Invest KOREA Week (IKW) The 2020 Invest KOREA Week (IKW), an investor relations event hosted by the Ministry of Trade, Industry and Energy and organized by Korea Trade-Investment Promotion Agency (KOTRA) kicked off on November 11 with the slogan “Smart Innovation & Safe Growth with Korea”.This year’s event, the 16th of its kind, is held virtually due... 2020-11-11
Industry Ministry to launch new division on future cars Ministry of Trade, Industry and Energy announced on November 3 that it will launch a new division on future cars, which will be in charge of tasks related to R&D, infrastructure, industry convergence, and global regulations of self-driving and eco-friendly vehicles.According to the Ministry, the future car industry is at the core of the Digital... 2020-11-03
October exports in Korea decrease 3.6% to $45.0 billion The Ministry of Trade, Industry and Energy announced on November 1 that Korea’s exports in October saw a year-on-year decline of 3.6 percent to USD 45.0 billion. Imports went down 5.8 percent to $39.0 billion, resulting in a trade surplus of $6.0 billion.The exports in October experienced a slight decrease (down 3.6 percent) due to fewer work... 2020-11-02