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Industry
Automobile exports advance 1.3% to $3.8 billion in June
The Ministry of Trade, Industry and Energy announced on July 13 that automobile exports expanded 1.3 percent to USD 3.8 billion from a year ago, marking the fifth consecutive month of growth. The number of vehicles shipped abroad, as opposed to the value in dollars, grew 0.8 percent year-on-year to 240,475, thanks to strong sales in Europe and Central and South America despite the decline in sales in North America, the largest market for Korean automotive makers. Do date2017-07-13
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Industry
Retail sales up 6.3% on double-digit growth of e-commerce in May
The Ministry of Trade, Industry and Energy announced on June 29 that retail sales advanced 6.3 percent to 10.29 trillion won in May on a double-digit growth of e-commerce revenues. Web-based sales, which accounts for about a third of the total retail sales, jumped 15.2 percent in May from a year earlier, while in-store sales advanced 2.5 percent. The double-digit growth in online sales was led by an increased seasonal demand for home appliances and clothing. More pu date2017-06-29
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Industry
Vice Minister Lee attends unveiling of world’s first 77-inch flexible, transparent OLED display
Trade, Industry and Energy Vice Minister Lee Inho (left) checked out a smart table built with a flexible and transparent display at a presentation on the outcome of the flexible, transparent display R&D project partly funded by the Ministry on June 22 in Seoul. The project lasted nearly six years from August 2012 to June this year, and a total of 150.1 billion won has been invested. At the presentation, a 77-inch ultra high-definition flexible and transparent display with 40 percent t date2017-06-22
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Industry
Korea developed world’s first 77-inch flexible, transparent OLED display
The Ministry of Trade, Industry and Energy announced on June 22 that Korea has developed the world’s first 77-inch flexible and transparent organic light-emitting diode (OLED) display in a government-funded project. The Ministry, LG Display, and the Korea Evaluation Institute of Industrial Technology (KEIT) held on June 22 in Seoul a presentation for the outcome of the public-private project to develop a 60-inch or larger ultra high definition (UHD) flexible, transparent dis date2017-06-22
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Industry
Kori Unit 1, Korea’s first nuclear reactor, ceases after 40 years of operation
The Ministry of Trade, Industry and Energy announced on June 19 that Kori Unit 1, Korea’s first nuclear reactor, ceased operations on the midnight of June 18 after 40 years of operations. The Ministry and Korea Hydro and Nuclear Power (KHNP) hosted a ceremony on June 19 at the Kori Nuclear Power Plant in Gijang-gun, Busan to declare the retirement of the reactor. The event was attended by President Moon Jae-in, government and KHNP officials, residents of the hosting region, and ci date2017-06-19
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Industry
Strong sales of eco-friendly cars boost auto exports in May
The Ministry of Trade, Industry and Energy announced on June 13 that exports of automobiles rose by 3.6 percent to $3.5 billion in May on strong sales of eco-friendly vehicles, marking the fourth consecutive month of growth. The number of vehicles shipped abroad increased 2.1 percent year-on-year to 221,237 in the meantime. The value of automobile exports grew at a faster pace on strong sales of eco-friendly cars and small-size sports utility vehicles. An average price of date2017-06-13
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Industry
Retail sales advance 7.2% in April
The Ministry of Trade, Industry and Energy announced on May 30 that retail sales jumped 7.2 percent to 9.81 trillion won in April, led by a double-digit growth of online purchases. E-commerce sales, which account for about a third of the total retail sales, surged 15.4 percent in April from a year earlier as demand for summer products and health supplements expanded. In-store sales increased 3.6 percent as all types of offline retailers posted growths driven by high date2017-05-30
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Industry
Auto production, exports grow in April
The Ministry of Trade, Industry and Energy announced on March 16 that production of automobiles grew 3.8 percent in April from a year ago, driven by a 7-percent growth in exports. Five domestic automotive makers, Hyundai Motor, Kia Motors, GM Korea, SsangYong Motor, and Renault Samsung Motors, together manufactured 382,566 vehicles in April -- up 3.8 percent year-on-year. The growth was led by the increase in exports despite slower domestic sales. The number of vehicles exported ad date2017-05-16
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Industry
Retail sales grow 6.9% in March
The Ministry of Trade, Industry and Energy announced on April 28 that retail sales rose by 6.9 percent to 9.9 trillion won in March with the growth of both in-store and online sales. Web-based sales, which account for a third of the total retail sales, jumped 12.3 percent in March compared to a year ago, while in-store revenues went up 4.4 percent. All product categories ranging from food and clothing to sports goods and home appliances posted growths in sales with food s date2017-04-28
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Industry
Auto exports soar for two consecutive months in March
The Ministry of Trade, Industry and Energy announced on April 18 that automobile exports, in terms of value, rose for two straight months in March due to increased sales of eco-friendly and mid- and large-sized vehicles. The total value of automobiles shipped overseas went up 4.1 percent to $4.1 billion year-on-year in March. Strong sales of eco-friendly and mid- and large-sized vehicles with higher unit prices led to boosting the total value of car exports although the number of overseas date2017-04-18