Ministry of Trade, Industry and Energy

Minister Sung discusses with Korean business leaders

Trade, Industry and Energy Minister Sung Yunmo (fourth from left in the front row) had a discussion with business leaders of the Korea Chamber of Commerce and Industry (KCCI) at the KCCI building in Seoul on November 12.The meeting was held to listen to the opinions of the industry representatives and to enhance cooperation between the public and private sectors.Among the attendees were KCCI Chairman Park Yongmaan, Tong Yang Moolsan Corp. Chairman Kim Hui Yong, and LG Chem Vice Chairman Park Jin date2018-11-12

Minister Sung appreciates development of textile industry

Trade, Industry and Energy Minister Sung Yunmo (left) appreciated the development of the textile industry during his speech at the commemoration ceremony of the 32nd Textile Day in Seoul on November 9.At the event, Minister Sung said that the textile and fashion industries have been one of the main drivers of Korea’s economic growth and still play a key role in the country’s economy. Minister Sung also emphasized cooperation in manufacturing higher value-added products, developing ne date2018-11-09

Vice Minister Cheong emphasizes smart use of data for customized services

Trade, Industry and Energy Vice Minister Cheong Seung-il (center) emphasized to businesses the smart use of data for customized services in the age of the Fourth Industrial Revolution at the Virtual Human Big Data Platform Exhibition and Forum held in the Assembly Members’ Office Building on October 30.At the forum, Vice Minister Cheong said that the big data platform project will provide new business models to small- and medium-sized enterprises and startups, leading to the creation of qu date2018-10-30

Overall retail sales grow 6.9 percent in September

The Ministry of Trade, Industry and Energy announced on October 30 that overall retail sales in September posted a year-on-year increase of 6.9 percent thanks to growths in both online and retail sales.Brick-and-mortar retailers saw a 6.0 percent growth in sales because of the national Chuseok holiday. Last year, the public holiday was in October.Sales of online retailers increased 8.6 percent, the smallest positive change since October 2017, due to the suspension of delivery services during Kor date2018-10-30

Korea’s annual chip exports surpass $100 billion for first time

Seoul, Korea - The Ministry of Trade, Industry and Energy hosted the 11th Semiconductor Day at COEX in Seoul on October 25 to commemorate this year’s annual exports of semiconductors that surpassed $100 billion for the first time. This is an unprecedented achievement for any single export item. During his commemoration remarks at the event, Trade, Industry and Energy Minister Sung Yunmo said that this accomplishment was possible because of close public-private cooperation, as well as home date2018-10-25

Minister Sung lauds Korea’s achievement of surpassing annual chip exports of $100 billion

Trade, Industry and Energy Minister Sung Yunmo (third from the left) lauded Korea’s unprecedented achievement of surpassing annual chip exports of $100 billion at the ceremony of the 11th Annual Semiconductor Day that took place at COEX in Seoul on October 25.During his commemorative address at the event, Minister Sung said that this accomplishment was possible because of close public-private cooperation, as well as homegrown companies that made bold endeavors, continuous investments, and date2018-10-25

Minister Sung commemorates Korea’s first implementation of hydrogen fuel cell buses

Trade, Industry and Energy Minister Sung Yunmo (second from right in the first row) attended the ceremony for Korea’s first implementation of hydrogen fuel cell buses to raise public awareness and promote the national spread of fuel cell buses in Ulsan on October 22.During his commemorative address, Minister Sung highlighted that the Korean government plans to expand its support for technological development in fuel cell cars as well as other future car technologies. Seoul also aims to imp date2018-10-23

Korea’s first operation of hydrogen buses take place in Ulsan

Seoul, Korea - The Ministry of Trade, Industry and Energy announced on October 22 that Korea’s first operation of hydrogen fuel cell buses was launched in Ulsan, spurring public interest and promoting the national spread of hydrogen buses. A memorandum of understanding (MOU) was signed by the Ulsan city government, Hyundai Motor, and an Ulsan bus company to operate hydrogen buses, spread hydrogen vehicles and charging stations, and raise public awareness about their safety and environment date2018-10-22

Fewer working days lead to decrease in auto exports in September

The Ministry of Trade, Industry and Energy announced on October 12 that Korea’s automobile exports, production, and domestic sales in September all saw a year-on-year decrease on fewer working days due to the national Chuseok holiday.Exports of finished vehicles fell 18.4 percent to 183,964 units. In terms of region, all export destinations except non-EU European countries saw a decline: North America (down 14.0 percent to $1.2 billion), EU (down 32.7 percent to $542 million), the Middle E date2018-10-12

Minister Sung appreciates progress made in display industry at 9th Display Day

Trade, Industry and Energy Minister Sung Yunmo appreciated the progress made in the Korean display industry and referred to it as an exemplary case of innovation-driven growth at the celebration of the 9th Display Day in Seoul on October 1.During his speech at the ceremony, Minister Sung said the Ministry will provide full policy support for the display sector to develop next-generation display panels after liquid-crystal displays (LCDs) and organic light emitting diodes (OLEDs), foster world-cl date2018-10-01