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Industry
Korea’s auto exports, production post year-on-year increases in H1
The Ministry of Trade, Industry and Energy announced on July 16 that the Korea’s automobile exports in the first six months of this year rose 2.5 percent year-on-year to 1,246,454 vehicles. In value terms, exports improved 7.0 percent to USD 21.7 billion. This increase is largely attributable to greater demand for eco-friendly cars and sport utility vehicles (SUVs).For green cars, outbound shipments jumped 30.1 percent to 112,093 units mainly due to increased sales in the U.S. and the EU.T date2019-07-16
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Industry
Vice Minister Cheong reviews Nano-Convergence 2020 Program
Trade, Industry and Energy Vice Minister Cheong Seung-il (center) and Science and ICT Vice Minister Mun Mi-ock (second from the right) attended the presentation of results of the Nano-Convergence 2020 Program held in Suwon, south of Seoul, on June 28.Promoting commercialization of results derived from the public sector’s R&D activities, the Nano-Convergence 2020 program is scheduled to run until 2020 by the Nano-Convergence Foundation (NCF), which was founded in 2012 under the joint su date2019-06-28
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Industry
Overall retail sales in Korea improve 8% in May
The Ministry of Trade, Industry and Energy announced on June 27 that Korea’s overall retail sales in May saw a year-on-year growth of 8.0 percent as both offline and online retailers experienced sales improvement.Specifically, sales of brick-and-mortar stores inched up 1.9 percent compared to the same period last year, while those of web-based retailers jumped 18.1 percent.The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are brick-and- date2019-06-27
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Industry
Korean universities launch programs to train students in system chip design
Trade, Industry and Energy Vice Minister Cheong Seung-il (center in the front row) visited Seongnam, near Seoul, on June 25 to join the launching ceremony of new university programs aimed at training students to be experts in system semiconductor design.Starting the second semester of this year, 13 universities in Korea will offer 3rd year undergraduate courses related to chip design in existing departments such as electrical engineering. From 2021, these programs are expected to produce more th date2019-06-25
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Industry
Minister Sung visits 5G-based smart office in Seoul
Trade, Industry and Energy Minister Sung Yun-mo, together with Science Minister You Young-min, Education Minister Yoo Eun-hae, and Health Minister Park Neung-hoo, visited a 5G smart office located in Seoul on June 20.During the visit, the Ministers observed demonstrations of various 5G-based technologies such as robot baristas, virtual meetings, and cooperative robots. The presentations were followed by a meeting between the public and private sectors that was held to promote 5G business-to-busi date2019-06-20
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Industry
Seoul, Stockholm vow to cooperate in bio-health industry
Trade, Industry and Energy Minister Sung Yun-mo (third from the right) visited AstraZeneca’s pharmaceutical plant in Södertälje on June 15 (local time) to attend a letter of intent (LOI) signing ceremony for cooperation in the bio-health industry on the occasion of President Moon Jae-in’s state visit to Sweden.The LOI was signed between the Korea Trade-Investment Promotion Agency (KOTRA), the Korea Biotechnology Industry Organization (KoreaBio), and AstraZeneca. With the le date2019-06-17
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Industry
Korea’s auto output, exports in May see year-on-year increases
The Ministry of Trade, Industry and Energy announced on June 13 that the Korea’s automobile production increased 4.1 percent to 366,152 vehicles in May compared to the same period last year.This growth in output was mostly attributable to higher overseas demand and more working days. The local car manufacturers are Hyundai Motor, Kia Motors, GM Korea, Ssangyong Motor, Renault Samsung Motors, Zyle Daewoo Bus, and Tata Daewoo.Exports also improved 6.1 percent year-on-year to 226,096 vehicles date2019-06-13
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Industry
Korea, Norway to cooperate on shipbuilding, robotics
Trade, Industry and Energy Minister Sung Yun-mo (fourth from the left) attended a memorandum of understanding (MOU) signing ceremony for industrial cooperation between Korea and Norway held in Oslo on June 12 (local time).On the occasion of President Moon Jae-in’s state visit to Norway, a total of four MOUs on shipbuilding and robotics were signed and two Korean ship construction technologies were approved between Seoul and Oslo’s industries.With the MOUs, concerted efforts will be m date2019-06-13
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Industry
Minister Sung tours Institute for Molecular Medicine Finland
Trade, Industry and Energy Minister Sung Yun-mo (second from the left) and Science and Technology Advisor to the President Lee Kong-joo toured the Institute for Molecular Medicine Finland (FIMM) located in Helsinki on June 11 (local time) on the occasion of President Moon Jae-in’s state visit to Finland.At the research center, the top officials were briefed by FIMM’s Director Mark Daly and Research Director Johan Lundin on FinnGen, a large scale genome study, as well as digital diagn date2019-06-12
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Industry
Minister Sung attends opening ceremony of ‘Startup Branch’ in Seoul
Trade, Industry and Energy Minister Sung Yun-mo delivered congratulatory remarks at the opening ceremony of the “Startup Branch” held at COEX in Seoul on June 4.Cooperating with overseas branches located in cities such as Seattle, New York, and Dubai, the Startup Branch is expected to serve as a local hub that supports startups for their exports, investment, strategic alliance, and technological innovation.The Startup Branch will run a range of programs to assist growth and innovatio date2019-06-04