Ministry of Trade, Industry and Energy

MKE Releases Car Sales Figures for May

MKE Releases Car Sales Figures for May The Ministry of Knowledge Economy has released its car sales figures for May. Production, exports and sales of both domestic and imported cars displayed brisk year-on-year growth, partly due to fresh demand for new models and consumer preference for efficient smaller cars. On the back of continued robust exports, Korea produced 388,666 vehicles, a 10.5 percent increase from the year before. Domestic sales posted a 4.8 percent increase to 129,315 vehicles. date2011-06-14

Retail Sales Figures for April

The Ministry of Knowledge Economy has released its retail sales figures for the month of April. Sales at the nation's three major discount chains and its three major department store chains posted positive growth. Sales at the major discount chains increased 4.6 percent-largely because of higher spending on food, which accounted for 54.6 percent of all sales. Warmer weather drove up sales of sporting items, while discounts stimulated spending on apparel.     With more Saturdays in April, sales at the nation's three major department store chains went up 15.1 percent. Notably, spending on luxury goods jumped43.2 percent. Sales of household goods displayed double-digit growth for the fifth consecutive month as a result of home appliance promotions. Due to the increase in outdoor activities such as hiking, sales of children's goods and sporting items climbed 19.9 percent.       *Released by the Distribution and Logistics Division   date2011-05-20

MKE Releases Car Sales Figures for April

MKE Releases Car Sales Figures for April The Ministry of Knowledge Economy has released its car sales figures for April. Despite higher oil prices, the country's car production and export figureshit record levels. Sales of both domestic and imported cars showed a year-on-year increase. Korea produced 395,383 vehicles, posting a 3.5 percent increase from the same period the previous year. Production has shown positive growth for seven monthsin a row. New cars and imported vehicles performed well date2011-05-17

Retail Sales Figures for March 2011

The Ministry of Knowledge Economy has released its retail sales figures for the month of March. Sales at the nation’s three major discount chains and its three major department store chains posted positive growth. Greater spending on food, which accounted for 54.6 percent of all sales, drove up sales at the major discount chains 1.9 percent. Sales were down in some categories such as household appliances and cultural goods (-13 percent), general goods (-1.4 percent) and apparel (-0.5 percent); however, spending on food, sporting items and household goods climbed 5.8 percent, 5.3 percent and 1.4 percent, respectively. Sales at the nation’s three major department store chains displayed double-digit growth (13.1 percent), and spending was up across a wide spectrum of categories. General goods, women’s suits, women’s casual wear, men’s clothing, children’s goods and sporting items, household goods and food gained 12.4 percent, 4.5 percent, 7.5 percent, 7.6 percent, 15.7 percent, 16.2 percent and 12.0 percent, respectively. Notably, luxury goods posted a 27 percent increase in sales and accounted for 14.1 percent of all sales—up from only 13.1 percent in February. Spending on household goods increased, mainly as a result of promotions and discounts involving home appliances.   * Released by the Distribution and Logistics Division date2011-04-15

MKE Releases Car Sales Figures for March

MKE Releases Car Sales Figures for March The Ministry of Knowledge Economy has released its car sales figures for Vehicle production and exports reached record heights despite the earthquake in Japan. The crisis seems to have had minimal impact on Korean automakers, which had adequate stockpiles of Japanese components. Sales of both domestic and imported cars saw a third consecutive month of positive growth. Korea produced 395,899 vehicles, a 3.6 percent increase from 2010, on the back of robus date2011-04-14

More Koreans Embrace e-Learning

A recent survey by the Ministry of Knowledge Economy and the National IT Industry Promotion Agency showed that the government’s efforts to promote e-learning are already beginning to bear fruit. Since 2004, when the government first established a legal framework to nurture the e-learning sector, the field has grown at an average rate of nearly 10 percent. In 2010 it was worth 2.25 trillion won, a 7.4 percent year-on-year increase. The number of businesses operating in the e-learning sector posted a 13.2 percent increase to 1,549. In particular, many publishing companies are looking to e-learning as a lucrative opportunity and are putting more and more textbooks and reference books online. The number of employees in the e-learning sector rose 3.5 percent to record 23,468; however, 43.6 percent of all businesses surveyed cited a labor shortage as an obstacle to business activities in this area. This suggests training programs are needed. Of individual respondents aged 3 or older, 49 percent had taken advantage of e-learning programs in 2010. E-learners accounted for 74.4 percent of the primary and secondary students and 41.2 percent of respondents in their forties—this last figure was up 9.5 percentage points from 2009. Foreign language programs were the most popular, accounting for 38 percent of the total, and the Internet was the most popular method of delivery (72.2 percent) as opposed to broadcasting or mobile devices. Of the businesses in the survey with at least 300 employees, 62.8 percent had made use of e-learning for a year-on-year increase of 2.1 percentage points. Businesses used e-learning mainly to educate their employees about job duties (90.5 percent). Of those businesses that had adopted e-learning, 55.1 percent reported a cost savings. The number of educational institutions that use e-learning increased slightly to 81.4 percent. These now include 88.7 percent of primary schools and 79.7 percent of middle schools. Meanwhile, 77.6 percent of government and public agencies had adopted e-learning as of last year, including all Korea’s central government ministries. In March MKE announced a revised plan to promote the e-learning sector. The new plan aims to improve the business environment, advance the technology, nurture skilled personnel, encourage the wider adoption of e-learning, and open up overseas business opportunities.   * Released by the Service Industries Division date2011-04-06

Korea, Europe Pursuing Innovation Together

Korea, Europe Pursuing Innovation Together Deputy Minister for Industrial Economic Policy Kim Kyung-Won speaks at Korea’s second EUREKA Day on March 16 in Seoul. The two-day event drew nearly 600 representatives of business and research organizations from Korea and EUREKA member countries. date2011-03-23

Korea, Europe Mark Second EUREKA Day

Korea, Europe Mark Second EUREKA Day Nearly 600 businesspeople and R&D specialists convened in Seoul for the second EUREKA Day—a collaborative event between Korea and its European partners to promote technology development and open innovation. EUREKA is a pan-European network that promotes market-oriented industrial research and development, and in 2009 Korea became the first Asian country to gain Associate Country status. Last year, Korea proclaimed every third Wednesday in March as date2011-03-23

Retail Sales Figures for February 2011

The Ministry of Knowledge Economy has released its retail sales figures for the month of February. Since the Lunar New Year holiday fell earlier in the month this year, spending on food at both the nation’s three major discount chains and its three major department store chains dropped 14.5 percent and 38.7 percent, respectively, from the same period in 2010. In 2011, the Lunar New Year holiday fell in the first week of February and largely affected January sales figures. Sales at the three major discount chains fell 10.9 percent from a year ago—this was mostly due to lower spending on food and household goods, which accounted for 53.6 percent and 18 percent of all sales, respectively. Sales were down across a wide spectrum of categories: household appliances and cultural goods (-5.9 percent), apparel (-12.3 percent), household goods (-12.2 percent), general goods (-6.3 percent) and food (-14.5 percent). Sporting items were an exception (+5.9 percent). Sales at the nation’s three major department store chains posted a 5.2 percent increase in sales, with spending up in most categories. General goods, women’s suits, women’s casual wear, men’s clothing, children’s goods and sporting items, household goods and luxury goods gained 10.5 percent, 14.4 percent, 11.3 percent, 6.1 percent, 14.1 percent, 25 percent and 29.7 percent, respectively. Food sales recorded a 30.8 percent decrease in a notable exception to this trend. * Released by the Distribution and Logistics Division   date2011-03-17

Retail Sales Figures for January 2011

The Ministry of Knowledge Economy has released retail sales figures for the month of January. The nation’s three major department store chains and its three major discount chains recorded a year-on-year increase in sales. Sales at the nation’s three major department store chains rose 24 percent compared with the same period the previous year. Sales were up across a wide spectrum of categories: general goods (18.9 percent), women’s suits (10.6 percent), women’s casual wear (14.8 percent), men’s clothing (15.9 percent), children’s goods and sporting items (16.8 percent), household goods (15.2 percent) and luxury goods (31.8 percent). Notably, spending on food surged 69.1 percent, largely due to the Lunar New Year holiday. The three major discount chains recorded a 21.4 percent increase in sales. Spending in all categories went up. Food, apparel, household goods, sporting items and general goods climbed 30.6 percent, 17.6 percent, 17.9 percent, 4.2 percent and 15.7 percent, respectively, with the notable exception of household appliances and cultural goods (down 2 percent).   * Released by the Distribution and Logistics Division   date2011-02-22