Ministry of Trade, Industry and Energy
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Minister Lee holds Promising Industries Exporters Conference
Trade, Industry and Energy Minister Lee Chang-yang visited the Osong Life Science National Complex on August 16 to assess tenant companies’ trade status and to discuss measures for invigorating exports. Coming against the backdrop of surging prices of energy and raw materials, the Russia-Ukraine war, trade balance challenges, global economic ...
Trade Minister holds Export Enterprises Conference
Trade Minister Ahn Duk-geun presided the Export Enterprises Conference at Seoul Cosmestics in the Namdong Industrial Complex in Incheon on August 10 to assess market impact on exporters and MPE (materials, equipment, equipment) businesses. The Trade Minister gave an opening message and facilitated discussions on measures to strengt...
Korea's auto exports value grows 25.3% in July
The Ministry of Trade, Industry and Energy (MOTIE) announced on August 16 that Korea’s automobile output, outbound shipments and exports value increased 9.1 percent, 23.1 percent, and 25.3 percent, respectively, while domestic sales contracted by 3.0 percent. Amid persisting global supply chain uncertainties, the temporary abatement of the pa...
Korea's ICT exports shrink 0.7% in July, but still achieve trade surplus
The Ministry of Trade, Industry and Energy (MOTIE) announced on August 11 that exports of Korea’s information and communications technology (ICT) goods decreased 0.7 percent to USD 19.3 billion in July.Imports gained 16.8 percent to $13.2 billion, but ICT trade still achieved a trade surplus of $6.1 billion despite less operating days (one le...
Korea and Lithuania hold talks on bilateral cooperation
Deputy Trade Minister Jeong Dae-jin met with Lithuania's Vice Economy Minister Jovita Neliupsiene at the Government Complex Seoul on August 4 and exchanged views on Korea-Lithuania economic cooperation and other industries like laser and bio. He also requested Lithuania’s interest in and support for Busan’s hosting of World EXPO 2030.
Trade Minister presides Korea-China Trade Strategy Consultation Meeting
Trade Minister Ahn Duk-geun presided the Korea-China Trade Strategy Consultation Meeting on August 3 at the Korea Chamber of Commerce and Industry (KCCI) to discuss trade cooperation and imbalance countermeasures. The meeting was attended by approximately 10 experts in diplomacy and economics, including LG Economics Research Institute e...
MOTIE holds 1st World EXPO 2030 Busan Delegation Meeting
Yoon Sang-jik, the Secretary-General for the Bid Committee for World EXPO 2030 Busan (hereinafter “Committee”), expanded its World Expo 2030 Busan advisory committee into a delegation of eight members on August 4 and launched its first meeting. The aim of this reorganization is to reinforce promotion to BIE (Bureau International des Exp...
MOTIE expands World EXPO 2030 Busan Advisory Committee
The Ministry of Trade, Industry and Energy (MOTIE) expanded its World EXPO 2030 Busan advisory committee into a delegation of eight members, and launched on August 4 its first meeting. The aim of this reorganization is to reinforce promotion to BIE (Bureau International des Expositions) member states. Yoon Sang-jik, the Secretary-General for t...
Minister Lee attends Korea-Vietnam Ministerial Meeting
Trade, Industry and Energy Minister Lee Chang-yang held talks with Vietnamese counterpart Minister Nguyen Hong Dien on August 2 at the Lotte Hotel Seoul to discuss supply chain, Vietnam's gas coal-fired power plant project and World EXPO 2030 Busan, among various issues of economic cooperation.
Korea's exports gain 9.4% in July
The Ministry of Trade, Industry and Energy announced on August 1 that the value of Korean goods shipped overseas in July grew 9.4 percent to USD 60.7 billion, posting highest ever exports value for the month of July (previous highest was that of July 2021 at $55.5 billion). High energy prices pushed imports up 21.8 percent to $65.4 billion, resulti...