Ministry of Trade, Industry and Energy
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Korea’s ICT exports in March rise 8.9% to $17.4 billion
The Ministry of Trade, Industry and Energy announced on April 14 that outbound shipments of Korea’s information and communications technology (ICT) goods in March increased 8.9 percent to USD 17.4 billion. Imports of ICT products totaled $10.9 billion, and the trade surplus stood at $6.5 billion. Exports of all major items exper...
Minister Sung holds discussion with trade, industry experts
Trade, Industry and Energy Minister Sung Yunmo (center) held a meeting with trade and industry representatives in Seoul, on April 8, to discuss various trade issues including recent trends in global trade, Korea’s exports following COVID-19 outbreak, and prospects for new industries. Minister Sung stressed the need to continue with the...
Minister Sung talks with commercial attachés
Trade, Industry and Energy Minister Sung Yunmo held a virtual meeting with 51 commercial attachés in 35 countries at the government complex in Sejong, on April 5, to discuss measures to revitalize exports and respond to global trade issues such as climate change, digital transformation, and technology security.
FDI pledged to Korea amount to $4.7 billion in Q1
The Ministry of Trade, Industry and Energy announced on April 5 that foreign direct investments (FDIs) pledged to Korea in the first quarter of this year jumped 44.7 percent year-on-year to USD 4.7 billion. The FDIs that actually arrived in Korea over the same period also went up 42.9 percent to $4.3 billion. Despite difficult external circumstance...
Korea’s March exports advance 16.6% to $53.8 billion
The Ministry of Trade, Industry and Energy announced on April 1 that Korea’s exports in March increased 16.6 percent to USD 53.8 billion. Imports grew 18.8 percent to $49.7 billion. The trade balance stood at a surplus of $4.2 billion, remaining positive for 11 straight months. The average daily exports went up 16.6 percent to $2.2 billion, h...
ICT exports record 11.5% growth to $15.3 billion in February
The Ministry of Trade, Industry and Energy announced on March 15 that outbound shipments of Korea’s information and communications technology (ICT) goods in February stood at USD 15.3 billion, recording a year-on-year growth of 11.5 percent. Imports of ICT products expanded 19.3 percent to $9.2 billion, and the trade surplus in this se...
Korea announces plan to achieve $700 billion in annual exports by 2025
The Ministry of Trade, Industry and Energy, jointly with relevant ministries, announced on March 10 the strategy to achieve $700 billion in annual exports by 2025 through expansion of future growth engines and innovation in trade structures. The government plans to invest 5 trillion won (USD 4.4 billion) to foster prominent trade items in ar...
Korea’s export value grows 9.5% to $44.8 billion in February
The Ministry of Trade, Industry and Energy announced on March 1 that Korea’s export value went up 9.5 percent to USD 44.8 billion in February. Imports also increased 13.9 percent to $42.1 billion. The trade balance stood at a surplus of $2.7 billion, staying positive for the 10th consecutive month. Exports in February showed growth for the fo...
Trade Minister Yoo attends forum to discuss trade strategy on environmental issues
Trade Minister Yoo Myung-hee met with trade experts from industry and academia at a forum held at the Korea International Trade Association (KITA) on February 17, to discuss trade strategies amid rising concerns about climate change.Trade Minister Yoo mentioned that the multilateral trading system centered on the WTO should play a more active role ...
Trade Minister visits logistics site ahead of Lunar New Year holidays
Trade Minister Yoo Myung-hee made an on-site visit to Uiwang Inland Container Depot in Uiwang, Gyeonggi Province, on February 8, to encourage logistics workers ahead of the Lunar New Year holidays. Trade Minister Yoo mentioned that the government will expand and reform the Import-Export Logistics Response Center and put together policy effor...