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Trade/Investment
ICT exports in November total $14.3 billion
The Ministry of Trade, Industry and Energy announced on December 22 that Korea’s November exports of information and communications technology (ICT) goods amounted to USD 14.3 billion. Imports of these items reached $9.1 billion, and the trade surplus in this sector was $5.2 billion.Exports fell 21.8 percent compared to the same period last year as a result of falling shipments of semiconductors, display panels, and mobile phones.By item, semiconductor exports dropped 30.7 percent year-on- date2019-12-23
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Trade/Investment
Minister Sung attends Korea’s 56th Trade Day Ceremony
Trade, Industry and Energy Minister Sung Yun-mo (right) held Korea's 56th Trade Day Ceremony to celebrate this year’s trade achievement at COEX in Seoul on December 5. During the ceremony, Minister Sung expressed gratitude for the efforts and commitment of trade workers. The reception was attended by more than 2,000 trade experts and business leaders, including Korea International Trade Association (KITA) Chairman Kim Young Ju. date2019-12-06
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Trade/Investment
Korea’s November exports fall 14.3% to $44.1 billion
The Ministry of Trade, Industry and Energy announced on December 1 that Korea’s exports in November saw a year-on-year decrease of 14.3 percent to USD 44.1 billion. Imports dropped 13.0 percent to $40.7 billion, resulting in a trade surplus of $3.4 billion.Korean exports last month were affected by several factors: ongoing external uncertainties such as the U.S.-China trade dispute and a global economic slowdown; a delayed price recovery of semiconductors, petrochemicals, and petroleum pro date2019-12-02
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Trade/Investment
Korean ICT exports amount to $15.5 billion in October
The Ministry of Trade, Industry and Energy announced on November 21 that Korea exported USD 15.5 billion worth of information and communications technology (ICT) goods in October. ICT imports totaled $9.4 billion, resulting in a trade surplus of $6.1 billion.ICT exports fell 23.3 percent from a year earlier due to decreasing shipments of semiconductors, displays, and mobile phones.By item, semiconductor exports dropped 32.1 percent year-on-year to $8.0 billion. System chips increased 6.7 percent date2019-11-22
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Trade/Investment
[ASEAN-ROK Summit] Trade Minister Yoo discusses cooperation with ASEAN ambassadors to Korea in Seoul
Trade Minister Yoo Myung-hee had a luncheon meeting with ambassadors to the Republic of Korea from Association of Southeast Asian Nations (ASEAN) countries in Seoul on November 19 ahead of the ASEAN-Korea Commemorative Summit.The Summit scheduled to be held in Busan from November 25 to 26 will commemorate the 30th anniversary of dialogue relations between Korea and ASEAN.The luncheon was organized to call for cooperation from participating nations of the Summit for its success and discuss the in date2019-11-19
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Trade/Investment
Trade Minister Yoo meets with ASEAN ambassadors
Trade Minister Yoo Myung-hee (fifth from the left) had a luncheon meeting with ambassadors from ASEAN countries in Seoul on Nov 19 to ask for their cooperation to ensure the success of the 2019 ASEAN-ROK Commemorative Summit that will be held in Busan from Nov 25 to 26. date2019-11-19
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Trade/Investment
Vice Minister Cheong meets with US Under Secretary of State
Trade, Industry and Energy Vice Minister Cheong Seung-il (right) and U.S. Under Secretary of State for Economic Growth, Energy and the Environment Keith Krach discussed current trade issues as well as economic and energy cooperation between the two countries in Seoul on Nov 6. date2019-11-07
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Trade/Investment
Trade Minister Yoo met with Governor of Oregon
Trade Minister Yoo Myung-hee (left) discussed with Governor of Oregon Kate Brown how to further promote trade and investment between Korea and Oregon in Seoul on Nov 6. date2019-11-07
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Trade/Investment
Korean exports in October decrease 14.7% to $46.8 billion
The Ministry of Trade, Industry and Energy announced on November 1 that Korea’s exports in October decreased 14.7 percent to USD 46.8 billion from a year earlier. Imports saw a decline of 14.6 percent to $41.4 billion, resulting in a trade balance of a surplus of $5.4 billion.The decrease in exports was largely due to the U.S.-China conflict and other external uncertainties, as well as the stagnant semiconductor sector and a slowdown in the global economy.From November, exports are slated date2019-11-01
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Trade/Investment
Korea’s ICT industry posts exports of $15.8 billion in September
The Ministry of Trade, Industry and Energy announced on October 21 that Korean exports of information and communications technology (ICT) goods in September decreased 22 percent to USD 15.8 billion from a year earlier. Shipments of mobile phone parts expanded, but those of semiconductors and displays contracted.ICT imports, on the other hand, grew 9.8 percent year-on-year to $8.8 billion. The trade balance in this sector was a surplus of $7.0 billion.By item, semiconductor shipments fell 31.5 pe date2019-10-23