Ministry of Trade, Industry and Energy

Retail Sales Figures for August

Seasonal demand stimulated sales of sporting items, while sluggish air conditioner sales lowered sales of household appliances and cultural goods. Because the Chuseok holiday fell early this year, sales of food and household goods climbed. date2011-09-28

MKE Releases Car Sales Figures for August

MKE Releases Car Sales Figures for August The Ministry of Knowledge Economy has released its car sales figures for August. Korea produced 320,438 vehicles, recording the highest-ever August performance at 13.6 percent. The introduction of new models into the domestic market, coupled with rising demand for imported vehicles, drove domestic sales up 3.7 percent year on year to 123,168. Sales of imported cars gained 4.1 percent to 9,116 vehicles, resulting in a record 7.4 percent market share. The date2011-09-23

Retail Sales Figures for July

date2011-08-23

MKE Releases Car Sales Figures for July

MKE Releases Car Sales Figures for July The Ministry of Knowledge Economy has released its car sales figures for July. Korea produced 391,607 vehicles, an increase of 3.7 percent from a year ago. Improved quality has raised the global profile of Korea’s automakers and most of the major companies enjoyed an upswing in production thanks to strong domestic demand and robust exports. The growing popularity of small cars was an additional factor. Increased sales of fuel-efficient models and f date2011-08-05

Minister Greets MIT Media Professor

Minister Greets MIT Media Professor Minister of Knowledge Economy Choi Joong-Kyung speaks with Professor Nicholas Negroponte of the Massachusetts Institute of Technology on July 26 in Gwacheon, a Seoul suburb. The discussion focused on partnerships with MIT’s media lab and cooperation on industrial resources. date2011-08-02

Exhibition Showcases Korea’s Amazing Robots

Minister of Knowledge Economy Choi Joong-Kyung paid a visit to the Gwacheon National Science Museum in suburban Seoul last week to mark the opening of a permanent robot exhibition. Visitors can experience robots in action and glimpse the future world that will soon be reality thanks to advances in robotics. A 495-square-meter, robot-shaped exhibition hall within the museum showcases 21 kinds of robots: humanoid robots, robotic fish, robots designed for disaster operations, household robots, educational robots and more. Performing robots entertain visitors with singing, dancing and martial arts. to view a robot tae kwon do demonstration. The public can view the exhibition six days a week from 1:30 p.m. to 3 p.m. but can also reserve tickets for other times; tickets are available both online (www.scientorium.go.kr) and from a robot at the entrance. The hall can accommodate up to 30 people and 30-minute visits can be scheduled every hour on the hour. Music, dance and tae kwon do performances run every hour on the half hour and last 20 minutes. No reservations are necessary to view performances. As Korea’s robotics industry grows stronger, the Ministry of Knowledge Economy is considering whether to establish similar exhibitions in different locations in 2012. * For pictures of the exhibition, please see the attached file. * Released by the Robot Division date2011-07-27

Minister Visits Traditional Market

Minister of Knowledge Economy Choi Joong-Kyung talks with an eatery owner on July 14 at a traditional market in Anyang, south of Seoul. Minister Choi promised to lead a nationwide effort to boost domestic demand. date2011-07-21

Bright Future Ahead for Korea’s Robot Industry

Minister of Knowledge Economy Choi Joong-Kyung (right, front row) poses with a group of students on July 19 at Seoul Robot High School. Minister Choi spoke with teachers and students and observed the students’ robots. date2011-07-21

Retail Sales Figures for June

Sales at the major discount chains rose 2.7 percent year on year—there was a slight increase in spending on food, which accounted for 52.3 percent of all sales. Sunny weather during the first part of the month brought more outdoor activities, pushing up sales of food and sporting items. Spending on household appliances and cultural goods, however, showed a decline—particularly televisions, which had displayed brisk growth last year on the back of the 2010 World Cup. date2011-07-14

Business Sentiment Improves in Second Quarter

The Ministry of Knowledge Economy and the Korea Institute for Industrial Economics and Trade released the Business Survey Index (BSI) for the second quarter, which showed improved sentiment among Korea’s manufacturers compared with the previous quarter. The index for the second quarter stood at 101, while the corresponding figure for the first quarter was 96. The BSI is intended to measure local manufacturers’ assessment of and prospects for business conditions in Korea. A total of 500 manufacturers responded to the quarterly online survey. An index reading above 100 indicates that manufacturers consider current business conditions better than conditions in the previous quarter. The BSI reading for sales and domestic demand were higher than the 100 baseline, while exports and ordinary profits came in at 99 and 91, respectively. The automobile and precision equipment sectors performed better than in the first quarter. In contrast, readings for the semiconductor and textile sectors fell below the 100 mark. Prospects for business conditions in the third quarter reached 111, meaning optimists outnumbered pessimists. Notably, with an index reading of 162, manufacturing companies had high expectations for the semiconductor sector. * Released by the Industrial Economic Policy Division date2011-06-30