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Industry
Minister Sung attends inauguration ceremony of tripartite forum for auto industry
Trade, Industry and Energy Minister Sung Yun-mo (fourth from the left), together with Employment and Labor Minister Lee Jae-kap (fourth from the right), attended the inauguration ceremony of the labor-management-government forum for the Korean auto industry that was held in Seoul on January 24.During the meeting, Minister Sung said that the establishment of this tripartite forum will allow future-oriented discussions to take place between the participants based on mutual trust, providing opportu date2019-01-24
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Industry
Vice Minister Cheong attends 2019 Drone Show Korea in Busan
Trade, Industry and Energy Vice Minister Cheong Seung-il (center) and Science Vice Minister Mun Mi-ock (fourth from the right) gave welcoming remarks at the opening ceremony of 2019 Drone Show Korea held in Busan on January 24.During his speech, Vice Minister Cheong introduced the Korean government’s support plans for the drone sector, adding that the competitiveness of the drone industry would require business skills as well as the technology the market wants. He also visited the exhibiti date2019-01-24
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Industry
Minister Sung appreciates machine industry for its contribution to exports
Trade, Industry and Energy Minister Sung Yun-mo expressed appreciation to the Korean machine industry for its contribution to exports last year during his speech at a New Year’s meeting in Seoul on January 23.Minister Sung emphasized that the Korean government will bolster its support for the machine sector as it underpins the nation’s industrial competitiveness. He added that the government will also push ahead with projects that involve developing smart construction machines and sm date2019-01-24
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Industry
Korea’s auto exports, production grow at double-digit rates in December 2018
The Ministry of Trade, Industry and Energy announced on January 18 that Korea's automobile exports and production in December 2018 grew at double-digit rates compared to a year earlier.Automobile exports last month increased 22.6 percent year-on-year to 219,313 vehicles due to newly introduced models, a base effect, and higher demand for eco-friendly cars. The number of green cars shipped overseas jumped 70.8 percent to 22,933 vehicles.The number of domestic vehicles produced by Korea's seven ma date2019-01-18
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Industry
Minister Sung meets with steel industry leaders to share policy directions for 2019
Trade, Industry and Energy Minister Sung Yun-mo (center) met with steel industry leaders to share the Korean government’s 2019 policy directions at a new year’s gathering in Seoul on January 10.During his congratulatory remarks at the meeting, Minister Sung praised their efforts in achieving steel exports of $600 billion last year amid rising global protectionism and other uncertainties.To overcome the challenges posed by internal and external factors this year, Minister Sung asked f date2019-01-10
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Industry
Minister Sung shares policy directions for 2019 with petrochemical industry leaders
Trade, Industry and Energy Minister Sung Yunmo (fourth from the right) shared the Korean government’s policy directions for 2019 with petrochemical industry leaders at a new year’s meeting in Seoul on January 8.During his congratulatory remarks, Minister Sung said that the Korean petrochemical exports that surpassed the $50 billion mark last year made a great contribution to the country’s economic growth. He attributed this achievement to active investment activities and increa date2019-01-08
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Industry
Online retail sales register double-digit growth in November
The Ministry of Trade, Industry and Energy announced on December 31 that Korea’s online retail sales in November registered a double-digit growth rate of 12.7 percent compared to a year earlier. With offline retail sales declining 0.5 percent, the overall retail sales saw an improvement of 4.6 percent.Despite growth in convenience stores and super supermarkets (SSMs), brick-and-mortar stores experienced a decrease in sales because hypermarkets slowed down.The growth of the online sales mai date2018-12-31
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Industry
Minister Sung awards government prizes to robot industry contributors
Trade, Industry and Energy Minister Sung Yunmo awarded government prizes to individuals who contributed to the development of the robot industry at Robot Professionals’ Night 2018 in Seoul on December 19.The event showcased ten types of promising robot products, including caring robots and rehabilitation robots. The Korean government plans to roll out about 1,000 of these service robots to three basic local governments by 2019.During the congratulatory speech, Minister Sung emphasized that date2018-12-19
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Industry
Auto exports, production post growth in November
The Ministry of Trade, Industry and Energy announced on December 13 that Korea's automobile exports and production in November posted growth compared to the same period last year.Exports of automobiles grew 1.6 percent to 238,357 units from a year earlier due to higher shipments of newly launched models to North America and Europe. In terms of value, automobile shipments to North America went up 0.2 percent to $1.7 billion, and those to the EU and non-EU European countries increased 3.3 percent date2018-12-13
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Industry
Korea to roll out 4,000 hydrogen vehicles next year
The Ministry of Trade, Industry and Energy announced that Trade, Industry and Energy Minister Sung Yunmo attended the groundbreaking ceremony for a new fuel cell stack plant at the Hyundai Mobis factory in Chungju on December 11. Fuel cell stacks are key components that make up more than half of the cost to build a hydrogen vehicle. Hyundai Mobis’ current fuel cell stack plant can produce about 3,000 stacks per year. With the new plant, the annual production volume is expected to increase date2018-12-11