Ministry of Trade, Industry and Energy

Minister Sung attends MOU signing ceremony for industrial cooperation with Germany

Trade, Industry and Energy Minister Sung Yun-mo (left) attended the MOU signing ceremony for industrial cooperation between the Korea Electronics Technology Institute (KETI) and the Fraunhofer IAP in Berlin on December 10. Under the agreement, the two sides agreed to strengthen ties in the sectors of materials, parts and equipment. date2019-12-16

Korean exports of green vehicles up 24.1% to record high in November

The Ministry of Trade, Industry and Energy announced on December 13 that exports of Korean eco-friendly cars in November reached a record monthly high of 28,597 units, up 24.1 percent from a year earlier. By type, year-on-year increases were experienced in all types of green cars except for hybrid electric vehicles (HEVs).Meanwhile, overall auto exports last month decreased 8.6 percent to 217,498 vehicles due to a base effect and fewer overseas orders. Exports in value terms experienced a smalle date2019-12-13

Korean retail industry sees sales growth of 4.1% in October

The Ministry of Trade, Industry and Energy announced on November 28 that overall retail sales in Korea improved 4.1 percent from a year earlier. Sales at web-based retailers saw a growth of 12.5 percent, but those at brick-and-mortar stores inched down 1.1 percent.These findings are based on surveys of 26 major retailers. Half of them are offline retailers: three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSM) operators. The oth date2019-11-29

Exports of Korean eco-friendly cars increase 8.2% in October

The Ministry of Trade, Industry and Energy announced on November 14 that the Korean automobile industry’s green car exports improved 8.2 percent year-on-year to 23,555 vehicles in October. Overall auto exports, however, decreased 10.2 percent to 208,714 vehicles from a year earlier. In value terms, car exports slipped 2.3 percent to USD 3.8 billion.Automobile output fell 7.9 percent to 351,409 units, but this figure is higher than this year’s average monthly production, which is 326, date2019-11-15

Online retail sales up 17.8% in September

The Ministry of Trade, Industry and Energy announced on October 30 that online retail sales in Korea went up 17.8 percent year-on-year in September. Sales at brick-and-mortar stores, on the other hand, decreased 5 percent. As a result, overall retail sales inched up 2.7 percent.These findings are based on surveys of 26 major retailers. Half of them are offline retailers: three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSM) oper date2019-10-30

Domestic car sales return to growth in September

The Ministry of Trade, Industry and Energy announced on October 17 that automobile sales in Korea rose 4.1 percent year-on-year to 133,016 vehicles in September following seven consecutive monthly decreases.Domestic sales of Korean-made cars inched up 1.0 percent to 110,465 units, and those of imported cars improved 22.5 percent to 22,551 units despite a decline in Japanese car sales (down 59.8 percent). Domestic sales of environmentally friendly cars also gained 10.3 percent to 9,656 units. Loc date2019-10-21

Korea unveils three key strategies to accelerate the future development of the car industry

The Ministry of Trade, Industry and Energy announced three key strategies to accelerate the future development of the car industry on October 15. Under this plan, Korea’s green car industry will seek to account for 10 percent of total eco-friendly car sales in the global market by 2030.Read the summary of the plan here: date2019-10-17

Industry Minister Sung announces policy roadmap for Korea’s future mobility

Trade, Industry and Energy Minister Sung Yun-mo rolled out a policy roadmap for Korea's future mobility on Oct 15. The roadmap includes a goal to lift the country's share of the world's electric and hydrogen-powered vehicle market to 10% by 2030 from the current 4%. date2019-10-17

Minister Sung attends Korea-Germany tech conference in Seoul

Trade, Industry and Energy Minister Sung Yun-mo (center) delivered a congratulatory speech at the Korea-Germany tech conference in Seoul on Oct 8. The conference was part of efforts to strengthen partnership with Germany in parts, materials and equipment sectors.   Minister Sung also attended the MOU signing ceremony between the Korea International Trade Association (KITA) and the Korean-German Chamber of Commerce and Industry (KGCCI) at the conference. date2019-10-08

Korean retail industry sees 7% increase in sales in August

The Ministry of Trade, Industry and Energy announced on September 29 that the Korean retail industry saw a 7.0 percent year-on-year increase in sales in August. Sales at brick-and-mortar stores advanced 2.1 percent, while sales at online retailers rose 15.2 percent.These results are based on surveys of 26 major retailers. Half of them are offline retailers: three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSM) operators. The oth date2019-09-30