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Korean ICT exports record $13.4 billion in January
The Ministry of Trade, Industry and Energy announced on February 12 that Korea exported USD 13.4 billion worth of information and communications technology (ICT) goods in January. ICT imports totaled $8.8 billion, resulting in a trade surplus of $4.6 billion.ICT exports fell 7.2 percent from a year earlier due to decreasing shipments of semiconduct...
Minister Sung discusses impacts of coronavirus outbreak on Korean trade
Trade, Industry and Energy Minister Sung Yun-mo (center) held a meeting with representatives from trade organizations and semiconductor, automobile, and shipbuilding industries in Seoul, on February 3, to check the impact of the recent outbreak of the novel coronavirus and discuss preemptive measures to minimize the damage to the Korean economy. &n...
Korea’s January exports fall 6.1% to $43.4 billion
The Ministry of Trade, Industry and Energy announced on February 1 that Korea’s exports in January saw a year-on-year decrease of 6.1 percent to USD 43.4 billion. Imports dropped 5.3 percent to $42.7 billion, resulting in The Ministry of Trade, Industry and Energy announced on February 1 that Korea’s exports in January saw a year-on-yea...
Korea’s ICT industry posts exports of $176.9 billion in 2019
The Ministry of Trade, Industry and Energy announced on January 20 that Korea’s information and communications technology (ICT) Industry posted exports of USD 176.9 billion in 2019. Outbound shipments of ICT goods last year decreased 19.7 percent compared to 2018 due to stagnant markets for major items, the slowdown of global economy includin...
Trade Minister Yoo stresses importance of international rules for e-commerce and digital trade at Davos
Trade Minister Yoo Myung-hee (center) attended a meeting of trade ministers on WTO e-commerce negotiations at the 2020 World Economic Forum held in Davos, Switzerland, on January 24 (local time), to discuss the importance of the establishment of digital trade rules. Trade Minister Yoo said that provision of global digital trade agreements is...
Trade Minister Yoo meets with WTO director-general at Davos 2020
Trade Minister Yoo Myung-hee (left) met with the WTO Director-General Roberto Azevedo (right) at the 2020 World Economic Forum held in Davos, Switzerland, on January 23 (local time), to discuss the restoration of the WTO-centered multilateral trading system and the contributions Korea can make to this end. Trade Minister Yoo emphasized the n...
FDI pledged to Korea reach $20 billion five years in a row
The Ministry of Trade, Industry and Energy announced on January 6 that foreign direct investments (FDI) pledged to Korea in 2019 hit USD 23.3 billion, marking the second highest in history and reaching $20 billion for the fifth consecutive year. FDI commitments dipped 13.3 percent last year, compared with the record high $26.9 billion in 2018. Howe...
Korea’s trade value reaches $1 trillion in 2019 for the third consecutive year despite challenges in global trade
The Ministry of Trade, Industry and Energy announced on January 1 that Korea’s trade value in 2019 reached USD 1 trillion for the third year. Although the country’s annual exports marked a 10.3 percent drop to $542.4 billion and imports saw a 6.0 percent decrease to $503.2 billion, Korea achieved the overall trade value of 1 trillion do...
ICT exports in November total $14.3 billion
The Ministry of Trade, Industry and Energy announced on December 22 that Korea’s November exports of information and communications technology (ICT) goods amounted to USD 14.3 billion. Imports of these items reached $9.1 billion, and the trade surplus in this sector was $5.2 billion.Exports fell 21.8 percent compared to the same period last y...
Minister Sung attends Korea’s 56th Trade Day Ceremony
Trade, Industry and Energy Minister Sung Yun-mo (right) held Korea's 56th Trade Day Ceremony to celebrate this year’s trade achievement at COEX in Seoul on December 5. During the ceremony, Minister Sung expressed gratitude for the efforts and commitment of trade workers. The reception was attended by more than 2,000 trade expert...