Ministry of Trade, Industry and Energy

Vice Minister Cheong attends EUREKA Global Innovation Summit 2019 in UK

Trade, Industry and Energy Vice Minister Cheong Seung-il (second from the left) received an appreciation plaque from UK Minister of State Chris Skidmore (left) for Korea’s 10-year participation in the EUREKA network at an event held in Manchester, UK, on May 14 (local time).Upon receiving the plaque at the EUREKA Global Innovation Summit, Vice Minister Cheong said the EUREKA network has expanded the horizon of technological cooperation between Korea and Europe. He also thanked EUREKA membe date2019-05-15

Minister Sung meets with Uzbek Public Health Minister in Seoul

Trade, Industry and Energy Minister Sung Yun-mo (left) had a meeting with Uzbekistan’s Public Health Minister Shadmanov Alisher Kayumovich in the Government Complex Seoul on May 14.The two Ministers discussed bilateral cooperation in bio-health and digital healthcare as well as subsequent efforts following the presidential summit that took place in April. date2019-05-14

Minister Sung delivers speech on the 16th National Automobile Day in Seoul

Trade, Industry and Energy Minister Sung Yun-mo delivered his remarks at an event held for the 16th National Automobile Day in Seoul on May 10.During his speech, Minister Sung said that global competition in the automobile industry is intensifying as the paradigm is shifting from traditional cars that use internal combustion engines to future cars such as electric vehicles and self-driving cars.Minister Sung added that against this backdrop, the Korean government will strive to build a world-cla date2019-05-10

Minister Sung visits Smart Manufacturing Innovation Center in Ansan

Trade, Industry and Energy Minister Sung Yun-mo (center) checked the status of technologies being tested and certified for smart manufacturing at the Smart Manufacturing Innovation Center (SMIC) located in Ansan on May 9.The test bed tests and certifies various advanced technologies for smart production lines before their full implementation. Examples of these technologies are 5G networks, cooperative robots, artificial intelligence, augmented and virtual realities, and flexible, customer-orient date2019-05-09

Sales of Korean retail industry grow 7.6 percent in March

The Ministry of Trade, Industry and Energy announced on April 28 that Korea’s online and offline retailers saw a year-on-year sales increase of 7.6 percent in March. Brick-and-mortar stores experienced a sales growth of 1.3 percent, and sales at online retailers grew by 18.2 percent.The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience date2019-04-28

Fashion industry meets ICT technology in Seoul

Trade, Industry and Energy Minister Sung Yun-mo (right) and Seoul City Mayor Park Won-soon (center) attended the opening ceremony of a new state-of-the-art clothing shop in Dongdaemun District, Seoul, on April 25.The clothing store is capable of designing and producing customized clothes within 24 hours. This was possible because of the Dongdaemun area’s advanced fashion infrastructure and Korea’s competitive information and communications technology (ICT).During his speech at the ev date2019-04-25

Korean auto exports rise 2.4 percent year-on-year in Q1

The Ministry of Trade, Industry and Energy announced on April 17 that Korea’s automobile exports in the first quarter increased 2.4 percent compared to the same period year earlier.The number of Korean vehicles exported from January to March amounted to 587,690 units. In terms of value, exports rose 4.7 percent to USD 10.3 billion. This expansion is primarily a result of robust demand for eco-friendly cars, sports utility vehicles (SUVs), and compact cars.Over the same period, the number o date2019-04-17

Minister Sung discusses industry innovation strategies at 2019 Boao Forum

Trade, Industry and Minister Sung Yun-mo participated in a session titled “5G : Bringing Things to Life with IoT” at the 2019 Boao Forum held in Hainan on March 28 (local time).During the session, Minister Sung said Korea is preparing to be the world’s first to commercialize the 5G network. Minister Sung also introduced Korea’s industry innovation strategy that includes autonomous vehicles and smart factories that operate on 5G and Internet of Things (IoT) infrastructure. date2019-03-28

Overall retail sales inch down 0.4 percent in February

The Ministry of Trade, Industry and Energy announced on March 28 that Korea’s overall retail sales in February inched down 0.4 percent compared to the same period last year. While offline retail sales fell 7.1 percent, online retail sales gained 12.0 percent.The decline in sales at brick-and-mortar stores was mostly caused by the effect of the Seollal holiday that fell on February 5 this year. Last year, the same holiday fell on February 16. The earlier holiday meant greater demand for gif date2019-03-28

Korea reveals robot industry initiative, aiming to be one of the world’s top 4 robot leaders

Trade, Industry and Energy Minister Sung Yun-mo (left) gave a presentation on Korea’s robot industry fostering plan in the presence of President Moon Jae-in and Science Minister You Young Man at a meeting held in Daegu on March 22.During his speech, Minister Sung said that robots, combined with new technologies like artificial intelligence and the 5G network, will become smarter and they will be more broadly used in the manufacturing sector and in our everyday lives.At the event, the Minis date2019-03-22