Ministry of Trade, Industry and Energy

Korean retail industry sees 8.2% increase in sales in September

The Ministry of Trade, Industry and Energy announced on October 28 that Korea’s retail sales in September increased 8.2 percent.   Both offline and online sales expanded, up 3.3 percent and 14.5 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” (S date2021-10-28

Minister Moon attends 16th Electronics, IT Day event

Trade, Industry and Energy Minister Moon Sungwook (left) attended the 16th Electronics and IT Day commemoration event in Seoul, on October 26, to encourage the electronics industry’s efforts to come up with cutting-edge technologies and achieve domestic production of parts despite rising trade protectionism and supply chain risks. MOTIE, electronics firms and related organizations signed a cooperation agreement to create an innovative ecosystem for electronics manufacturing, planning to pr date2021-10-26

Korea, Qatar agree to further cooperation in energy transition and new industries

Trade, Industry and Energy Minister Moon Sungwook (left) met with his Qatari counterpart Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani during his visit to Qatar, on October 24 (local time), and agreed to strengthen cooperation in bio-health and renewable energy.   At a business roundtable organized by the Korean and Qatari Chambers of Commerce, representatives from shipbuilding, hydrogen and bio-health industries discussed cooperative measures in new industries in the post-cor date2021-10-24

Minister Moon visits World Expo in Dubai

Trade, Industry and Energy Minister Moon Sungwook (left) visited the site of Expo 2020 Dubai in the United Arab Emirates (UAE) on October 23 (local time), and promoted Busan’s bid to host the global event in 2030.   After visiting the Korea Pavilion on the theme of future mobility, Minister Moon met with Director General of Expo 2020 Dubai Reem bint Ibrahim Al Hashimy, as part of an effort to host the World Expo in Busan.   date2021-10-23

MOTIE hosts 2021 Digital Transformation Fair

Trade, Industry and Energy Vice Minister Park Jin-kyu (fourth from the right) attended the opening ceremony for the 2021 D.Ton (Digital Transformation Fair: On-line & On-site), held to introduce advanced technology and machinery and enhance the global competitiveness of the domestic machinery industry.   Vice Minister Park, in his congratulatory speech, encouraged the machinery industry’s efforts to maintain strong exports despite COVID-19 challenges, and emphasized the industry date2021-10-19

Exports of green cars set new record in September

The Ministry of Trade, Industry and Energy announced on October 15 that outbound shipments of green cars from Korea set new records in the number of units shipped overseas (34,823 units), value ($1.0 billion) and share of total exports (23.8 percent).   Automobile output, domestic sales, and exports decreased 33.0 percent, 29.7 percent, and 20.7 percent, respectively, for the month of September. The decline was attributable to global semiconductor shortages and four fewer working days com date2021-10-18

Computers, a must-have in the contactless work-from-home era

Computers, a must-have in the contactless work-from-home era date2021-10-14

Minister Moon encourages steel industry’s efforts to produce eco-friendly steel

Trade, Industry and Energy Minister Moon Sungwook (second from the left) attended the Hydrogen Iron & Steel Making (HyIS) Forum, organized to start an industrywide discussion on measures to achieve carbon neutrality through hydrogen-based steelmaking.   Minister Moon welcomed the industry’s technological innovation efforts to reduce carbon emissions, and said that the government plans to prepare a policy to stabilize the supply for green hydrogen. date2021-10-06

Korea’s August retail sales rise 6.4%

The Ministry of Trade, Industry and Energy announced on September 29 that Korea’s retail sales in August posted year-on-year growth of 6.4 percent.   Both physical and online retailers experienced growth in sales, up 2.5 percent and 11.1 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, date2021-09-29

Cooperation committee launches to strengthen competitiveness of Korea’s semiconductor industry

Trade, Industry and Energy Minister Moon Sungwook (center) attended the launching ceremony for a committee composed of representatives from industry, academia and research institutes to beef up Korea’s semiconductor industry, on September 28.   Minister Moon mentioned that the K-semiconductor Strategy announced in May in response to the global supply chain reorganization has led to substantial results in taxation, finance and manpower training, and said that the government will cont date2021-09-28