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Trade/Investment
Korea’s ICT exports post growth of 33.2% to $20.3 billion
The Ministry of Trade, Industry and Energy announced on September 14 that exports of Korea’s information and communications technology (ICT) goods increased 33.2 percent to USD 20.3 billion in August, rising for 15 consecutive months and hitting the record high export value for the month of August and the second highest monthly export value in history. Imports recorded year-on-year growth of 23.7 percent to $11.4 billion, and the trade balance stood at a surplus of $8.9 billion. Shipment date2021-09-14
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Trade/Investment
Minister Moon meets with trade experts to discuss policy response to recent global trade environment
Trade, Industry and Energy Minister Moon Sungwook (center) met with trade experts on September 10, to exchange ideas on the rapidly changing global trade environment which incorporates industry, technology and energy issues. Minister Moon said that while Korea’s trade policy has mainly focused on signing free trade agreements (FTAs) and expanding access to global markets, it is time to develop capabilities to respond to supply chain disruptions and digital transformation, date2021-09-10
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Trade/Investment
Korea’s August exports jump 34.9% to $53.2 billion
The Ministry of Trade, Industry and Energy announced on September 1 that Korea’s exports in August saw a year-on-year expansion of 34.9 percent and recorded USD 53.2 billion, hitting the highest value for the month of August in history. Imports jumped 44.0 percent to $51.6 billion, resulting in a trade surplus of $1.7 billion. Exports posted growth for 10 consecutive months. It is also the first time in 11 years that exports increased more than 20 percent for five straight months. Daily date2021-09-02
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Trade/Investment
S.Korea's bio-health industry exports log best-ever first half in 2021
S.Korea's bio-health industry exports log best-ever first half in 2021 date2021-08-25
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Trade/Investment
MOTIE to strengthen financial support for logistics industry
Trade, Industry and Energy Minister Moon Sungwook met with heads of the Korea Trade Insurance Corporation (KSURE) and the Export-Import Bank of Korea (KEXIM), on August 13, to discuss measures to expand financial support for the logistics industry amid surging international freight rates. Minister Moon said that the Ministry will continue to work with related ministries and agencies to resolve the difficulty of logistics firms in order to boost exports and revitalize the economy. date2021-08-13
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Trade/Investment
Korea’s ICT exports advance for 14 straight months, up 30.2% to $19.5 billion in July
The Ministry of Trade, Industry and Energy announced on August 12 that exports of Korea’s information and communications technology (ICT) goods increased 30.2 percent to USD 19.5 billion in July, posting growth for 14 consecutive months and hitting the record high export value for the month of July in history. Imports gained 14.9 percent to $11.3 billion, and the trade balance stood at a surplus of $8.2 billion. Exports of all major ICT goods recorded growth. Chip exports jumped 38.8 pe date2021-08-12
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Trade/Investment
Minister Moon meets with Cytiva CEO to discuss investment in Korea’s production facilities
Trade, Industry and Energy Minister Moon Sungwook met with Cytiva CEO Emmanuel Ligner in Seoul, on August 10, to discuss investment opportunities in Korea’s production facilities with the global supplier of raw and subsidiary materials used in vaccine production. Minister Moon stressed that Korea has high potential for market growth as the country is implementing a national strategy to become a global vaccine hub based on its excellent biopharmaceutical production capabilities. He added th date2021-08-10
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Trade/Investment
Korea’s exports in July grow 29.6% to $55.4 billion, hitting record high value
The Ministry of Trade, Industry and Energy announced on August 1 that the value of Korean goods shipped overseas in July grew 29.6 percent to USD 55.4 billion, hitting the record high monthly export value. Imports jumped 38.2 percent to $53.7 billion, resulting in a trade surplus of $1.8 billion. Exports exceeded the $50 billion mark for five straight months. It is also the first time in 10 years that exports increased more than 20 percent for four straight months. Daily export date2021-08-02
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Trade/Investment
Exports of Korea’s ICT goods grow 29.1% to $19.3 billion in June
The Ministry of Trade, Industry and Energy announced on July 14 that exports of Korea’s information and communications technology (ICT) goods increased 29.1 percent to USD 19.3 billion in June, posting growth for 13 consecutive months and hitting the record high export value for the month of June in history. Imports went up 17.7 percent to $10.6 billion, and the trade balance stood at a surplus of $8.7 billion. Exports of chips, displays, and computers and peripherals recorded growth, bu date2021-07-14
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Trade/Investment
Korea's automobile exports log double-digit growth between Jan and May
Korea's automobile exports log double-digit growth between Jan and May date2021-07-12