Ministry of Trade, Industry and Energy

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

Retail Sales Figures for December 2010

The Ministry of Knowledge Economy has released its year-on-year retail sales data for the month of December. The nation’s three major department stores posted an 11.6 percent increase in sales, while the three major discount chains posted a 2.9 percent increase. An intense cold spell chilled the country in December, leading to brisk sales of apparel and heating devices at all three major department stores. Additionally, the gift-giving season at the end of the year contributed to higher sales of general goods and luxury goods. Sales were up in all categories: children’s goods and sporting items (17.5 percent), general goods (9.9 percent), women’s suits (9.5 percent), women’s casual wear (12.7 percent), men’s clothing (8.1 percent), household goods (15.3 percent), luxury goods (20.8 percent) and food (9.2 percent). With the start of the winter sports season, spending on sports items increased 7.1 percent. Spending on apparel (6.0 percent), household goods (1.9 percent), food (5.7 percent) and general goods (6.3 percent) also increased. Notably, sales of household appliances and cultural goods dropped 12.3 percent. Sales at the three major department stores increased 9.5 percent for all of 2010 compared with 2009. For the three major discount chains, the corresponding figure was 4.9 percent.     * Released by the Distribution and Logistics Division     date2011-01-25

Minister Visits Traditional Market

Minister of Knowledge Economy Choi Kyunghwan lends a hand with cooking at a traditional market in Seoul on September 7. The Minister visited the market in the run-up to the Chuseok holiday to assess the cost of holiday items and find out what difficulties merchants may be experiencing. date2010-09-08

“Surion” Passes Test

Deputy Minister for Industries Cho Seok speaks at a ceremony at Korea Aerospace Industries in Sacheon, South Gyeongsang Province, on June 22. The event marked the successful completion of the three-month initial testing phase for Korea’s first homegrown utility helicopter, “Surion.” date2010-06-30

International Motor Show Opens in Busan

date2010-05-07

MKE Puts Former Samsung Officer at the Helm of Advanced National R&D Programs

MKE Puts Former Samsung Officer at the Helm of Advanced National R&D Programs Minister of Knowledge Economy Choi Kyunghwan welcomes Hwang Chang-gyu (left), the former Samsung Electronics President, who was recently appointed to lead the Ministry’s research and development initiatives. date2010-04-23

Minister Visits Robot Factory

date2009-10-06

International LED Expo Kicks Off

International LED Expo Kicks Off Vice Minister for Industry and Technology Rim Chemin cuts a ribbon to mark the opening of the International LED Expo in Ilsan on May 20. Nearly 230 LED companies participated in the exhibition, which showcased products ranging from high-brightness chips to energy-efficient lighting units. date2009-06-02

Seoul Motor Show 2009 Opens

date2009-04-07