Ministry of Trade, Industry and Energy

March exports grow 18.2%, reaching $63.5 billion

The Ministry of Trade, Industry, and Energy announced on April 1 that Korea’s exports in March increased 18.2 percent to USD 63.5 billion, the highest in 66 years since 1956, the year trade data was first recorded. This is positive growth for the 17th consecutive month, and double-digit growth for the 13th consecutive month. Average daily exports reached a record-breaking $2.8 billion. In respect of imports, high energy prices and larger purchases of intermediate goods drove up imports b date2022-04-01

8th Size Korea Conference presents 40 years of Korean bodily changes

Korean Agency for Technology and Standards (KATS) under the Trade, Industry, and Energy Ministry held the 8th Size Korea Conference on March 30 at COEX in Seoul, where research outcomes announced that Korean males and females had grown 6.4cm and 5.3cm, respectively, in average height over the past 40 years since the first survey released in 1979. According to the research, Korean people’s body shapes increasingly developed an overall “long-legged” physique. For males, average date2022-03-31

4th round of Korea-GCC FTA negotiations

The 4th round of Korea-GCC FTA negotiations are being held (March 28-31) in Seoul. Korea’s government delegation is led by Ministry of Trade, Industry, and Energy (MOTIE)’s Director General for FTA Negotiations Lee Kyung-sik, and consists of relevant ministries’ officials across the Ministry of Economy and Finance, Ministry of Agriculture, Food and Rural Affairs, Korean Intellectual Property Office, Ministry of Oceans and Fisheries, and Korea Forest Service. The Gulf Cooperati date2022-03-31

First Vice Minister attends Size Korea Conference

Trade, Industry and Energy First Vice Minister Park Jin-kyu attended the Size Korea Conference held at COEX in Seoul on March 30 for the sharing of “8th Korean Body Measurements Survey Results” and explore the industry's new growth engines for the future.   Vice Minister Park gave a congratulatory message and partook in the MOU signing ceremony of wearables, medical devices, clothing, and ergonomics institutions for data utilization and cooperation. After the MOU ceremony, he date2022-03-31

MOTIE holds public hearing on CPTPP application

Trade, Industry, and Energy Minister Moon Sung-wook held a public hearing on its application for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on March 25 at the Government Complex Sejong to gather opinions of interest parties, experts and the general public. The hearing was commenced by opening remarks of Trade Negotiations Deputy Minister Jeon Yoon-jong, followed by an overview of CPTPP and progress update, then an assessment of application impact on the ec date2022-03-30

Energy Vice Minister attends Chungju bio-hydrogen refueling station completion ceremony

Energy Vice Minister Park Ki-young attended the Chungju bio-hydrogen refueling station completion ceremony on March 30 to commemorate the launching of Korea’s first biogas hydrogen charging facilities.   The Chungju hydrogen refueling facilities are equipped to fuel hydrogen cars and will also serve as a mother station by delivering tube trailers to other hydrogen stations. The station utilizes biogas generated from the nearby Chungju Food Bio Energy Center to produce hydrogen. In h date2022-03-30

Minister Moon attends 49th Korean Commerce and Industry Day Ceremony

Trade, Industry, and Energy Minister Moon Sung-wook attended the 49th Korean Commerce and Industry Day Ceremony held at the Korean Chamber of Commerce and Industry (KCCI) on March 29 to commend individuals that contributed to Korea's commerce and industry development.   Commerce and Industry Day was designated as an official government memorial in 1974, and annual ceremonies have been held ever since to award individuals that have achieved meaningful outcomes contributing to Korea’s date2022-03-30

Korea's retail sales rise 4.7% in February

The Ministry of Trade, Industry and Energy announced on March 29 that Korea’s total retail sales in February rose 4.7 percent. Sales at brick-and-mortar stores declined by 3.8 percent, while online sales rose 14.2 percent. The drop in offline sales was offset by online sales’ sharp growth spike. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. 13 of them are physical retailers: three department store chains, three hypermarket chains, three c date2022-03-29

Minister Moon attends IEA Ministerial Meeting

Trade, Industry, and Energy Minister Moon Sung-wook attended the International Energy Agency (IEA) Ministerial Meeting on March 23-24 to discuss energy security amidst the Ukraine crisis. At the session, Minister Moon joined in the official approval for release of oil reserves for the stabilization of global energy market. The IEA is an international body for energy cooperation consisting primarily of OECD member states, established for effectively responding to oil supply crises. The even date2022-03-29

Minister Moon attends Autonomous Vehicles Industry-Academia Conference

Trade, Industry, and Energy Minister Moon Sung-wook attended the Autonomous Vehicles Industry-Academia Conference held at the Government Sejong Convention Center on March 28 to discuss future development and competitiveness-building of Korea's self-driving car industry.   The conference was held in anticipation of the upcoming release of Korea’s first level 3 autonomous finished vehicle in H2 of this year. Minister Moon’s opening remarks were followed by a report on nine major date2022-03-29