Ministry of Trade, Industry and Energy
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Korea's August EV exports grow 22.2%, share of domestic green car sales set new record
The Ministry of Trade, Industry and Energy announced on September 18 that Korea’s automobile output, domestic sales, and exports in August decreased 6.4 percent, 1.2 percent, and 15.8 percent, respectively. The number of vehicles produced by Korean automakers recorded a year-on-year decline of 6.4 percent to 233,357 units. The primary reason ...
Minister Sung visits Changwon industrial complex as part of Korea’s Green New Deal initiative
Trade, Industry and Energy Minister Sung Yun-mo made an on-site visit to Changwon National Industrial Complex, one of the seven sites for the “smart green industrial project”, on September 17, in the Korean government’s Green New Deal drive to foster high-tech, eco-friendly industrial complexes.The government plans to designate 15...
Korea, Myanmar to expand economic ties
Trade, Industry and Energy Minister Sung Yun-mo attended the virtual meeting of Joint Commission on Trade and Industry Cooperation between Myanmar and Korea, on September 16, to discuss bilateral economic cooperation in trade, industry, energy, and investment between the two countries.In particular, the two countries agreed to start the constructio...
Minister Sung discusses additional support measures for coronavirus-hit industries
Trade, Industry and Energy Minister Sung Yun-mo held the 2nd meeting to check the impact of the resurge in COVID-19 cases on the real economy with industrial representatives at the Jeollabuk-do branch of Korea Industrial Complex Corporation in Gunsan, on September 15, to discuss additional support measures for the virus-hit industries. Minister Sun...
Korea’s August exports of ICT products rise for 3rd consecutive month, up 0.3% to $15.2 billion
The Ministry of Trade, Industry and Energy announced on September 15 that Korean information and communications technology (ICT) exports posted a year-on-year growth of 0.3 percent to USD 15.2 billion. Imports also rose 4.3 percent to $9.2 billion, and the trade balance stood at a surplus of $6.1 billion. By item, outbound shipments of semiconducto...
MOTIE signs MOU to encourage next generation smart semiconductor development
Trade, Industry and Energy Minister Sung Yun-mo (center) attended a signing ceremony for the memorandum of understanding (MOU) aimed to boost the development of the next generation smart semiconductors at Korea Semiconductor Industry Association in Pangyo, Gyeonggi Province, on September 10. The ceremony was attended by Science and ICT minister Cho...
Industry Ministry stresses autonomy and global cooperation in market-oriented R&D policy innovation plan
Trade, Industry and Energy Minister Sung Yun-mo (center) held a virtual meeting with representatives from the industry, academia, and research institutes, on September 8, to discuss the market-oriented R&D policy innovation plan amid uncertainties presented by COVID-19 and the digital transition.The Ministry will allow more flexibility to R&...
Minister Sung discusses renewable energy sector’s institutional innovation at Green New Deal conference
Trade, Industry and Energy Minister Sung Yun-mo held the Green New Deal policy conference virtually at the Government Complex in Sejong, on September 2, with representatives from major energy companies to discuss the institutional innovation for the renewable energy sector.The Ministry will provide support measures for the Green New Deal, which aim...
Trade Minister Yoo meets with trade ministers virtually to talk about global economic recovery
Trade Minister Yoo Myung-hee attended the RCEP ministerial meeting and the ASEAN, ASEAN+3, EAS economic ministers' meetings virtually from August 27 to 29, and checked the progress of the RCEP agreement as well as the economic cooperation programs between Korea and ASEAN.Trade Minister Yoo also discussed with her fellow ministers the cooperation me...
Korea’s exports in August fall 9.9 percent to $39.7 billion
The Ministry of Trade, Industry and Energy announced on September 1 that Korea’s exports in August decreased 9.9 percent to USD 39.7 billion. Imports fell 16.3 percent to $35.5 billion, resulting in a trade surplus of $4.1 billion. The August exports recorded a single-digit decline for the second consecutive month despite fewer working days (...