Ministry of Trade, Industry and Energy

Korea's exports achieve $55.3 billion in January

The Ministry of Trade, Industry and Energy announced on February 1 that Korea’s exports in January rose 15.2 percent year-on-year to USD 55.3 billion. Imports also grew 35.5 percent to $60.2 billion. The trade balance turned negative to $4.9 billion from greater imports, produced by the steeper slope in energy price hikes. Monthly exports surpassed the $50 billion mark for the first time for January and posted double-digit growth despite the spread of Omicron, inflation concerns, and supp date2022-02-01

Minister Moon visits marketplace ahead of Lunar New Year

Trade, Industry, and Energy Minister Moon Sung-wook visited the Yongmun Traditional Market located in Yongsan-gu, Seoul, on January 28 to inspect market prices and energy safety conditions ahead of Korea's Lunar New Year holidays. Under the guidance of the Merchants Association President Ban Jae Sun, Minister Moon purchased fruit, traditional Korean sweets, and other holiday goods using an onnuri gift certificate. In view of the COVID-19 situation, the purchased goods were then donated to Chung date2022-01-28

Trade Minister holds Korea-U.S. trade talks

Trade Minister Yeo Han-koo held talks with United States Trade Representative (USTR) Katherine Tai at the USTR Office in Washington D.C. on January 27 over trade and other major issues. The two countries’ trade representatives’ discussions centered around the revision of Section 232 rules on steel and aluminum products, the Indo-Pacific economic framework, supply chain resilience, WTO reform, and measures to strengthen bilateral cooperation in commemoration of the 10th Anniversary o date2022-01-28

Minister Moon attends Local Win-Win Job Creation Signing Ceremonies

Trade, Industry, and Energy Minister Moon Sung-wook attended Win-Win Job Creation Signing Ceremonies held January 27 in Nonsan-si of Chungnam, and Jeonju-si and Iksan-si of North Jeolla Province where each region's labor, management, government, and community representatives came together to sign the Local Win-Win Job Creation Agreement. Pursued under the Special Act on Balanced National Development, the Local Win-Win Job Creation Agreement aims to create local jobs and stimulate investment bas date2022-01-28

Minister Moon attends Local Win-Win Job Creation Signing Ceremonies

Trade, Industry, and Energy Minister Moon Sung-wook attended Win-Win Job Creation Signing Ceremonies held respectively in Nonsan-si of Chungnam, and Jeonju-si and Iksan-si of North Jeolla Province where each region's labor, management, government, and community representatives came together to sign the Local Win-Win Job Creation Agreement. Pursued under the Special Act on Balanced National Development, the Local Win-Win Job Creation Agreement aims to create local jobs and stimulate investment b date2022-01-28

Korea's 2021 retail sales advance 11.3 percent as both online and offline sales increase

The Ministry of Trade, Industry and Energy announced on January 27 that Korea’s annual retail sales in 2021 advanced 11.3 percent compared to 2020, thanks to strong online sales (up 15.7 percent). Brick-and-mortar sales also expanded by 7.5 percent.   The Ministry releases monthly retail sales figures based on surveys of 25 major retailers, 13 of which are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four SS date2022-01-27

Minister Moon attends completion ceremony of Korea's largest solar plant

Trade, Industry, and Energy Minister Moon Sung-wook visited the completion ceremony of Sinan Solar Power Plant located in Sinan-gun, South Jeolla Province on January 26. Currently Korea’s largest (150MW) in scale, the Sinan Solar Power Plant is a KRW 319.6 billion project with the participation of public power company Korea South-East Power Co. and domestic solar power company Topsun.   As part of the ceremony, Minister Moon presented certificates of commendation to 5 persons of mer date2022-01-27

Korea's largest solar power plant starts commercial operation

Trade, Industry, and Energy Minister Moon Sung-wook attended the completion ceremony of Sinan Solar Power Plant located in Sinan-gun, South Jeolla Province on January 26.  The Sinan Solar Power Plant is a KRW 319.6 billion project with the participation of public power company Korea South-East Power Co. and domestic solar power company Topsun. It is the largest (150MW) solar power plant complex in Korea, built on saline wasteland with abundant sunlight, generating 209.7GWh of power per ann date2022-01-26

Energy Vice Minister visits ESS facilities for emergency safety inspection

Energy Vice Minister Park Ki-young visited the Daeseon Solar Power Plant located in Wonju-si, Gangwon Province on January 25 to promote the inspection of safety systems and prevention of safety accidents regarding ESS equipment and facilities, in view of the recent fires. During the visit, Minister Park received an update and briefing of ESS safety management status and related challenges on-site before touring the ESS facilities and encouraged site personnel to keep up their hard work. date2022-01-26

The 4th Korea-China Ministerial Dialogue on Industrial Cooperation

Trade, Industry, and Energy Minister Moon Sung-wook presided a meeting with China’s Industry and Information Technology Minister Xiao Yaqing at the Sejong Government Complex on January 25 to discuss furthering of measures for mutual cooperation. Minister Moon noted how Korea and China, on the strong foothold of FTA, both recorded historic trade achievements in 2021 even in the face of prolonged COVID-19 pandemic and ensuing global economic challenges. He stated that this meeting will play date2022-01-26