Ministry of Trade, Industry and Energy

Korea’s retail industry sees sales growth of 13.1% in July

The Ministry of Trade, Industry and Energy announced on August 26 that Korea’s retail industry saw sales growth of 13.1 percent in July. Both offline and online sales posted growth, up 7.0 percent and 20.2 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, and four 'super supermarket' (SSM) operators. date2021-08-26

Minister Moon visits site of secondary battery recycling

Trade, Industry and Energy Minister Moon Sungwook (right) made a visit to the plant of SungEel HiTech, a local supplier of cathode materials from recycled secondary batteries, in Gunsan, Jeollabukdo, on August 19, and met with industry representatives afterwards to discuss measures necessary to establish a stable supply chain of rare metals.   Minister Moon said that the government will set up a comprehensive plan for metal reserves by the end of the year. date2021-08-19

Minister Moon discusses R&D investment strategy with private sector experts

Trade, Industry and Energy Minister Moon Sungwook presided over a strategy meeting to discuss industrial technology R&D innovation, on August 18, at the Office of Strategic R&D Planning (OSP), launched in 2010 to devise strategic plans for R&D investment and innovation of industrial technology.   Minister Moon emphasized the need to reestablish R&D investment directions for industrial technologies amid rapidly changing internal and external environments, and expand investm date2021-08-18

Auto exports edge down 2.9%, export value rises 12.3% in July

The Ministry of Trade, Industry and Energy announced on August 18 that Korea’s automobile output, domestic sales, and exports went down 13.9 percent, 9.6 percent, and 2.9 percent, respectively. However, in value terms, the export value increased 12.3 percent to $4.1 billion, posting double-digit growth for seven straight months. Declines in production and exports are attributable to a high base effect from last year’s expansion and fewer working days (down 2 days) this year. Vehic date2021-08-18

Minister Moon attends meeting to discuss development of local defense industry

Trade, Industry and Energy Minister Moon Sungwook attended the 8th Meeting for the National Defense Industry Development, jointly held with the Ministry of National Defense, on August 11, to discuss measures to foster the local defense industry. MOTIE announced plans to implement a standard model for the use of robots in military food services and manufacturing processes of tactical vehicle, guided missile, and ammunition. Minister Moon said that it is important to take strategic measures that e date2021-08-11

Korea announces plans to secure supply of rare metals

Korea announced, on August 5, measures to secure supply of rare metals, which are key materials used in major industries including future cars, secondary batteries, and low carbon energy. As part of the policy to strengthen competitiveness of materials, parts and equipment industries, the government aims to stabilize the supply chain of rare metals by increasing the stockpile, support rare metal firms with R&D and commercialization, and establish a cooperative system among private and public date2021-08-05

Minister Moon visits residential treatment center for COVID-19 patients

Trade, Industry and Energy Minister Moon Sungwook (second from the right) visited a residential COVID-19 treatment center in Anseong, Gyeonggi Province, on August 2, to encourage the medical staff and support personnel. date2021-08-02

Minister Moon holds meeting to facilitate industry certification process

Trade, Industry and Energy Minister Moon Sungwook held a meeting with industry representatives at the Korean Agency of Technology and Standards, on July 29, to discuss measures to reduce the time and cost of industry certification. Minister Moon stressed that as Korea’s firms are actively developing convergence products using new technologies from the 4th Industrial revolution, the government’s technology regulations should not hinder their innovative efforts. date2021-07-29

Minister Moon makes on-site visits in Changwon

Trade, Industry and Energy Minister Moon Sungwook (second from the right) visited Changwon, on July 28, to encourage the opening of a smart manufacturing demo factory and the construction of a liquid hydrogen plant.   The smart manufacturing demo factory, built as part of the Smart Green Industrial Complex Strategy, incorporates advanced ICT technologies to increase productivity and boost production of high value-added products.   The liquid hydrogen plant, when its construction is date2021-07-28

Korea’s retail sales in June gain 11.4%

The Ministry of Trade, Industry and Energy announced on July 27 that Korea’s overall retail sales in June increased 11.4 percent.   Both offline and online retailers experienced growth, up 4.8 percent and 19.6 percent, respectively.   The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, and four “super superm date2021-07-27