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Trade/Investment
Minister Sung attends Korea’s 55th Trade Day Ceremony
Trade, Industry and Energy Minister Sung Yunmo (center) attended Korea's 55th Trade Day Ceremony to celebrate this year’s trade achievement at COEX in Seoul on December 7.In 2018, Korea’s trade grew at the fastest rate to reach USD 1 trillion, and its exports are expected to surpass $600 billion for the first time ever.During a reception after the ceremony, Minister Sung expressed gratitude for the efforts and commitment of trade workers and stressed that now is the time to seek fund date2018-12-07
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Trade/Investment
Korea’s November exports continue to stay above $50 billion
The Ministry of Trade, Industry and Energy announced on December 1 that Korea’s exports in November rose 4.5 percent to USD 51.9 billion from the same period of last year, exceeding $50 billion for seven straight months for the first time.This is also the first time the country has seen an export value that is greater than $50 billion for any November exports. Average daily exports also increased 4.5 percent to $2.2 billion, which is the largest among any November export value. Won-denomin date2018-12-01
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Trade/Investment
ICT exports increase at double-digit rate to $20.2 billion in October
The Ministry of Trade, Industry and Energy announced on November 14 that exports of information and communications technology (ICT) products in October reached USD 20.2 billion, up 12.3 percent from the same period last year.ICT imports also increased 10.3 percent to $10 billion from a year earlier, and the trade surplus stood at $10.2 billion.Surpassing $20 billion in ICT exports for three straight months was led by semiconductors and computers and peripheral devices.Semiconductor exports rose date2018-11-14
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Trade/Investment
Trade Ministry hosts Invest Korea Week 2018 in Seoul
The Ministry of Trade, Industry and Energy held an opening ceremony of the 14th Invest Korea Week (IKW) 2018 to promote Korea to foreign investors in Seoul on November 6.During the ceremony, Deputy Minister for International Trade and Legal Affairs Kim Changkyu (center) emphasized in his speech that Korea is being internationally recognized as an attractive investment destination with improved inter-Korean relations, test beds for new technologies and innovations, extensive free trade agreement date2018-11-06
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Trade/Investment
Vice Minister Cheong awards government prizes on 18th Foreign Company Day
Trade, Industry and Energy Vice Minister Cheong Seung-il (center) awarded government prizes to 46 individuals and organizations that contributed to foreign investment in Korea during a ceremony of the 2018 Foreign Company Day held in Seoul on November 5.During its 18th commemoration, Vice Minister Cheong said that the foreign-invested enterprises in Korea have become one of key contributors to the country’s economy, accounting for 12 percent of the total sales, 20.2 percent of the total ex date2018-11-05
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Trade/Investment
Korea’s October exports hit second highest on record
The Ministry of Trade, Industry and Energy announced on November 1 that Korea’s exports in October rose 22.7 percent year-on-year to USD 55 billion, the second highest on record.This achievement was possible because of both internal and external factors. The internal factors include the Korean firms’ pursuit of manufacturing high value products, diversification of exports items, and balanced growth of exports to foreign destinations. The external factors are strong manufacturing indu date2018-11-01
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Trade/Investment
Materials, components exports grow 13.6 percent to $237.9 billion in Q1 - Q3
The Ministry of Trade, Industry and Energy announced on October 18 that exports of 11 types of industrial materials and components in the first three quarters of this year went up 13.6 percent year-on-year to $237.9 billion.Imports also rose 5.1 percent to $131.8 billion and the trade surplus stood at $106.1 billion, surpassing the $100 billion mark for the first time for materials and components.By type, electronic components accounted for 44.0 percent of the total exports. The other two types date2018-10-18
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Trade/Investment
ICT exports in September reach new monthly record of $20.3 billion
The Ministry of Trade, Industry and Energy announced on October 17 that exports of information and communications technology (ICT) products in September increased 5.3 percent year-on-year, reaching the highest monthly record of USD 20.3 billion.ICT imports decreased 11.7 percent to $8.0 billion and Korea stayed as a net ICT exporter with a trade surplus of $12.3 billion.In particular, growths in outbound shipments of semiconductors and computers and peripheral devices helped ICT exports surpass date2018-10-17
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Trade/Investment
Minister Sung meets with French corporate leaders at Korea-France Business Roundtable
Trade, Industry and Energy Minister Sung Yunmo (third from left) had a discussion with French corporate leaders at the Korea-France business roundtable that took place in Paris on October 16.At the meeting, Minister Sung emphasized that the Korean government regards French companies as partners for growth and that it wants to support their businesses in Korea and their cooperation with Korean firms.The event was attended by representatives from 13 French companies, including Airbus, Dassault Sys date2018-10-17
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Trade/Investment
Minister Sung hosts Korea-EU Investment Roundtable 2018 in Paris
Trade, Industry and Energy Minister Sung Yunmo (center in the front row) hosted the Korea-EU Investment Roundtable 2018 in Paris on October 15.During his opening remarks at the event held to strengthen investment cooperation between the two parties, Minister Sung asked for concerted efforts to work towards boosting innovation and technology development, creating future growth engines, and promoting new renewable energy advances.The meeting was attended by representatives of 13 companies from Fra date2018-10-16