Ministry of Trade, Industry and Energy

Vice Minister Attends CEO Forum

Vice Minister Attends CEO Forum Vice Minister for Trade and Energy Cho Seok speaks at the CEO Forum for Foreign-invested Companies 2012 on November 29 in Seoul. Around 150 representatives from foreign companies in Korea participated in the event. date2012-12-07

Korea Rolls Out Commercial Electric Vehicle-Sharing Program

Korea Rolls Out Commercial Electric Vehicle-Sharing Program The Ministry of Knowledge Economy has introduced a commercial EV-sharing program as part of efforts to build an electric vehicle platform for sustainable everyday use. Launched on December 3, the service offers registered members access to a fleet of 30 electric cars available at 18 charging stations in Seoul, which can be reserved by the hour or day via the Internet. It aims to expand access to green cars while helping shoulder the co date2012-12-06

Retail Sales Figures for October

The Ministry of Knowledge Economy has released its retail sales figures for the month of October. Weaker consumer sentiment due to prolonged global economic uncertainties and the higher cost of fresh produce pushed sales at the nation’s three major discount chains down 6.6 percent year on year. Spending declined in most categories, including apparel, household goods and food. date2012-11-26

Korea Showcases IT Convergence Technologies in Silicon Valley

Korea Showcases IT Convergence Technologies in Silicon Valley In collaboration with the Korea Trade-Investment Promotion Agency (KOTRA) and the National IT Industry Promotion Agency (NIPA), the Ministry of Knowledge Economy held the `K-Tech @ Silicon Valley 2012` in Silicon Valley on November 12. The two-day conference, the first of its kind, was set up to demonstrate recent advancements in IT convergence technologies and suggest a future vision for the global IT convergence sector.   Kore date2012-11-22

MKE Releases Car Sales Figures for October

MKE Releases Car Sales Figures for October The Ministry of Knowledge Economy has released its car sales figures for October. The nation’s car production totaled 396,677 vehicles for a 4.3 percent decline from a year earlier. Vehicle exports shrank 6.3 percent year on year to 258,361 units due to the contraction in the European market and weaker demand from emerging economies. Thanks to temporary tax cuts on automobile purchases and special promotional offers by vehicle manufacturers, the date2012-11-16

Minister Celebrates Opening of Design Korea 2012

Minister of Knowledge Economy Sukwoo HONG (center) cuts the ribbon at the opening ceremony of Design Korea 2012 on October 25 in Daegu, in the southern part of Korea. The event drew around 800 participants from industry, academia and research institutes. date2012-11-06

Korea, China Focus on Green Growth

Korea, China Focus on Green Growth Minister of Knowledge Economy Sukwoo HONG met with his Danish counterpart Minister for Foreign Affairs Villy Sovndal on October 25. They exchanged views on various cooperation areas such as green growth, trade and investment and Arctic exploration. date2012-11-02

Korea Launches Free Translator App ‘Genie Talk’

The Ministry of Knowledge Economy has launched a smartphone application called ‘Genie Talk,’ which offers instant Korean-English translation services in both verbal and written formats. Designed to work best with travel-related speech or for everyday conversations, Genie Talk can recognize 270,000 Korean words and 65,000 English words. When connected to WiFi, users can simply type or record messages to get a translation. Genie Talk, equipped with translation technology developed by the Electronics and Telecommunications Research Institute (ETRI), is around 80 percent accurate. The Ministry of Knowledge Economy is also working to launch Japanese and Chinese versions as early as 2014 when Incheon is set to host the 14th Asian Games. The ministry also aims to release versions for six more languages including Spanish, French, German and Russian prior to the PyeongChang Winter Olympic Games in 2018. The application is available free of charge on Apple’s iTunes App Store and Google’s Android Market. * Released by the Software and IT Convergence Division date2012-10-23

Retail Sales Figures for September

date2012-10-19

MKE Releases Car Sales Figures for September

MKE Releases Car Sales Figures for September The Ministry of Knowledge Economy has released its car sales figures for September. The nation’s car production declined 8.2 percent year on year to 343,458 vehicles due to partial labor strikes at major automobile makers. Due to concerns over the stagnant real economy and weaker consumer sentiment, the number of vehicles sold on the domestic market retreated 4.8 percent to 128,607 vehicles. Compared to the previous month, however, the pace of date2012-10-16