Ministry of Trade, Industry and Energy

Retail Sales Figures for November

date2011-12-16

MKE Releases Car Sales Figures for November

MKE Releases Car Sales Figures for November The Ministry of Knowledge Economy has released its car sales figures for November. Despite sluggish domestic demand, strong exports pushed Korea’s car production up 10.1 percent to 428,516 vehicles. Domestic sales declined 12.7 percent to 115,768 vehicles due to weak consumer sentiment and rising fuel prices. Sales of imported cars continued to increase 11.1 percent, recording 9,230 vehicles. Although global economic uncertainty prevails, export date2011-12-09

Korea Takes Off With New Advanced Aircraft

With the new Smart Unmanned Air Vehicle, Korea has succeeded in becoming the second country in the world to develop tilt-rotor aircraft technology. The SUAV, developed by the Korea Aerospace Research Institute over nine years with government support, is capable of vertical takeoff and landing like a helicopter but can fly much faster. It will be used not only for military purposes but also to detect and extinguish forest fires and to monitor traffic, weather and environmental conditions.   KARI and the Ministry of Knowledge Economy showed images of the aircraft in flight at a presentation held November 30. The show drew about 200 people—military personnel, aviation experts, and members of the general public. MKE and KARI plan to carry out further tests to verify the vehicle’s maximum speed, endurance and operational range as well as its ability to avoid collisions.   This milestone is the outcome of intensive research and development to advance Korea’s avionics, data-link and flight control technologies. It proves that Korea is ready to enter the lucrative and growing international unmanned air vehicle market.   * Released by the Machinery, Aerospace and Defense Industries Division date2011-12-02

New Minister Takes Office

New Minister Takes Office Minister of Knowledge Economy Sukwoo HONG speaks at his swearing-in ceremony on November 17 in the Gwacheon Government Complex. date2011-11-22

Retail Sales Figures for October

date2011-11-18

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. Thanks to steady exports Korea produced 414,574 vehicles, a 7.1 percent year-on-year increase. This was achieved despite unfavorable consumer sentiment and rising oil prices, which depressed domestic sales 8.8 percent to 121,564 vehicles. Sales of imported cars continued to grow, albeit at a slower pace of 8.9 percent year on year to 8,234 vehicles. Even amid uncertainty date2011-11-14

Minister speaks at Tech Plus 2011

Minister of Knowledge Economy Choi Joong-Kyung speaks at “Tech Plus 2011” on November 9 in Seoul. The annual industrial technology forum, called a “knowledge concert,” drew 3,000 participants and highlighted Korea’s role as a designer of industries. date2011-11-14

Vice Minister attends Smart Korea 2011

Vice Minister for Industry and Technology Yoon Sang-Jick speaks at Smart Korea 2011 on October 12 in Ilsan. As Korea’s biggest annual IT event, the conference drew close to 1,000 participants. date2011-10-25

Retail Sales Figures for September

date2011-10-20

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. Thanks to strong production, domestic sales and exports, the Korean automobile market maintained positive growth.     Consistent growth of domestic sales and solid outbound shipments led to a 10.3 percent year-on-year increase in production to 374,014 vehicles. Sales of imported cars jumped 25.3 percent and domestic car sales climbed 3.8 percent due to gr date2011-10-12