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Industry
Domestic automotive sales and production fell in September
The Ministry of Trade, Industry and Energy announced on Oct 7 that the domestic automotive sales fell 13.8 percent to 128,674 units in September compared with the same period last year, with the end of the special consumption tax cut. Local car production also dropped 22.7 percent to 258,026 units last month from a year ago mainly due to the prolonged walkout of Hyundai Motor and Kia Motors, the county’s top two automakers. Affected by the shrinking car production, car export date2016-10-07
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Industry
Korea unveils policy direction to strengthen competitiveness of steel and petrochemical industries
South Korean economic ministries, including the Ministry of Trade, Industry and Energy, unveiled on Friday their coordinated plans to strengthen the competitiveness of steel and petrochemical industries, both of which face an oversupply issue. A policy direction to sharpen an edge of the troubled shipping and shipbuilding is expected to be announced in October. To maintain global demand for Korean steel and petrochemical products, the government will encourage and help reduce date2016-09-30
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Industry
Minister Joo attends 'Korea Sale FESTA' opening ceremony
Trade, Energy, and Industry Minister Joo Hyunghwan (center) waved his light stick at the K-POP concert, designed to celebrate the opening of the `Korea Sale FESTA' at Yeongdongdearo on Sept. 30. Minister Joo along with Culture, Sports and Tourism Minister Cho Yoon-sun, Chairman Park Sam-koo of the Visit Korea Committee and other related officials attended the opening ceremony for the country's biggest shopping and cultural event. The Ministry organized the nationwide festival with aims o date2016-09-30
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Industry
Vice Minister Jeong reviews preparations for `Korea Sale FESTA'
Trade, Industry and Energy Vice Minister Jeong Marn-ki (left) hosted a meeting with major Korean manufacturers, retailers and restaurant officials participating in `Korea Sale FESTA' at the Plaza Seoul Hotel on Sept. 27. Korea Sale FESTA is a nationwide shopping and cultural festival, hosted in conjunction with Ministry of Culture, Sports and Tourism for boosting domestic consumption and international tourists. In his opening remarks, Vice Minister for Industry an date2016-09-28
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Industry
'Korea Sale FESTA' begins on September 29
The Ministry of Trade, Industry and Energy announced on September 21 that 'Korea Sale FESTA', the country's biggest shopping festival, will begin on Sept 29 and last until Oct 31. Together with the Ministry of Culture, Sports and Tourism, the Trade, Industry and Energy Ministry has developed the annual national shopping and cultural festival for bargain-hungry Korean consumers and foreign visitors since the beginning of this year with aims of boosting domestic consumption in slump an date2016-09-23
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Industry
Vice Minister Lee hosts discussion session with shipbuilding industry
date2016-07-04
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Industry
Korea to Woo Int’l Shoppers with `FESTA’ Festival in Fall
Korea to Woo Int’l Shoppers with `FESTA’ Festival in Fall The Ministry of Trade, Industry and Energy announced it would kick off the Korean version of ``Black Friday” festival under the name of the ``Korea Sale FESTA’’ for international shoppers between September 29 to October 31 with cooperation of the Ministry of Culture, Sports and Tourism and other related public and private agencies. The word ‘FESTA’ is formed by taking the initia date2016-06-21
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Industry
National Shopping and Tourism Festival of “Shopping + Tourism + Korean Wave” to be Held
date2016-04-28
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Industry
New MOTIE Minister Joo Hyunghwan Takes Office
New Minister of Trade, Industry and Energy Joo Hyunghwan, previously Vice Finance Minister, took office in Sejong yesterday, replacing Yoon Sang-jick who served in the top post for almost three years. In his inauguration speech, the new minister pledged to innovate South Korea's industrial policies across the board to reinvigorate the country's economy amid slowing global growth. After the inauguration ceremony, Minister Joo visited Hoong-A Corp., a local manufacturer of packaging machinery, as his first official outside activity. date2016-01-14
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Industry
Sales Trends by Major Retailers in November 2015
□ The sales by major retailers, including those of department stores and convenience stores increased from a year earlier, while those of hypermarkets and super supermarkets fell in Nov. 2015. □ The sales of convenience stores have increased in large percentages for ten consecutive months since Feb. 2015. □By product group, the sales of food, commodities, and miscellaneous goods decreased for all major retailers except for convenience stores. date2015-12-30