Ministry of Trade, Industry and Energy
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Minister Moon holds meeting with economic research institutes
Trade, Industry and Energy Minister Moon Sungwook met with heads of public and private economic research institutes on September 16, to discuss recent economic conditions and the future direction of Korea’s industrial policy. Minister Moon said that the government will push for innovation in the industrial structure by securing industr...
August automobile exports, output increase
The Ministry of Trade, Industry and Energy announced on September 15 that Korea’s automobile production and exports increased 0.7 percent and 4.1 percent, respectively, while domestic sales edged down 3.3 percent for the month of August. The export value totaled $3.0 billion, posting double-digit growth for eight straight months.  ...
Minister Moon meets with steel, petrochemical firms to discuss new NDC targets
Trade, Industry and Energy Minister Moon Sungwook met with CEOs of steel and petrochemical firms, which account for more than 75.8% of greenhouse gas emissions in the domestic industrial sector, on September 14, as Korea considers stronger nationally determined contribution (NDC) targets. Minister Moon said that the government plans to stren...
Korea’s ICT exports post growth of 33.2% to $20.3 billion
The Ministry of Trade, Industry and Energy announced on September 14 that exports of Korea’s information and communications technology (ICT) goods increased 33.2 percent to USD 20.3 billion in August, rising for 15 consecutive months and hitting the record high export value for the month of August and the second highest monthly export value i...
Korea initiates process to join Digital Economic Partnership Agreement (DEPA)
The Office of the Minister for Trade at the Ministry of Trade, Industry and Energy officially notified New Zealand, the Depositary of the Digital Economic Partnership Agreement (DEPA), of Korea’s intent to join the Agreement on September 13. The government has completed the domestic procedures to initiate negotiations on Korea’s accessi...
Minister Moon meets with trade experts to discuss policy response to recent global trade environment
Trade, Industry and Energy Minister Moon Sungwook (center) met with trade experts on September 10, to exchange ideas on the rapidly changing global trade environment which incorporates industry, technology and energy issues. Minister Moon said that while Korea’s trade policy has mainly focused on signing free trade agreements (F...
Minister Moon attends meeting to encourage cooperation between middle market enterprises and energy agencies
Trade, Industry and Energy Minister Moon Sungwook (second from the right) attended a meeting to create a cooperative system between middle market enterprises and energy agencies for ESG and carbon neutral goals. The Korea Energy Agency, the Korea Institute of Energy Technology Evaluation and Planning, and the Federation of Middle Market Ente...
MOTIE, civic group join efforts for carbon neutrality
Trade, Industry and Energy Minister Moon Sungwook (center) met with the heads of the Korea NGO’s Energy Network on September 3, to discuss measures to induce public participation in climate action to achieve the 2050 carbon neutral goal. Minister Moon stressed the role of civic groups in building a broad consensus among the public and ...
Korea’s August exports jump 34.9% to $53.2 billion
The Ministry of Trade, Industry and Energy announced on September 1 that Korea’s exports in August saw a year-on-year expansion of 34.9 percent and recorded USD 53.2 billion, hitting the highest value for the month of August in history. Imports jumped 44.0 percent to $51.6 billion, resulting in a trade surplus of $1.7 billion. E...
Korea’s retail industry sees sales growth of 13.1% in July
The Ministry of Trade, Industry and Energy announced on August 26 that Korea’s retail industry saw sales growth of 13.1 percent in July. Both offline and online sales posted growth, up 7.0 percent and 20.2 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Hal...