-
Industry
Minister Sung lauds Korea’s achievement of surpassing annual chip exports of $100 billion
Trade, Industry and Energy Minister Sung Yunmo (third from the left) lauded Korea’s unprecedented achievement of surpassing annual chip exports of $100 billion at the ceremony of the 11th Annual Semiconductor Day that took place at COEX in Seoul on October 25.During his commemorative address at the event, Minister Sung said that this accomplishment was possible because of close public-private cooperation, as well as homegrown companies that made bold endeavors, continuous investments, and date2018-10-25
-
Industry
Minister Sung commemorates Korea’s first implementation of hydrogen fuel cell buses
Trade, Industry and Energy Minister Sung Yunmo (second from right in the first row) attended the ceremony for Korea’s first implementation of hydrogen fuel cell buses to raise public awareness and promote the national spread of fuel cell buses in Ulsan on October 22.During his commemorative address, Minister Sung highlighted that the Korean government plans to expand its support for technological development in fuel cell cars as well as other future car technologies. Seoul also aims to imp date2018-10-23
-
Industry
Korea’s first operation of hydrogen buses take place in Ulsan
Seoul, Korea - The Ministry of Trade, Industry and Energy announced on October 22 that Korea’s first operation of hydrogen fuel cell buses was launched in Ulsan, spurring public interest and promoting the national spread of hydrogen buses. A memorandum of understanding (MOU) was signed by the Ulsan city government, Hyundai Motor, and an Ulsan bus company to operate hydrogen buses, spread hydrogen vehicles and charging stations, and raise public awareness about their safety and environment date2018-10-22
-
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
-
FTA/Economic Cooperation
Minister Sung attends Korea-Italy Business Networking Seminar in Rome
Trade, Industry and Energy Minister Sung Yunmo (center) attended the memorandum of understanding (MOU) signing ceremony held at the Korea-Italy Business Networking Seminar in Rome, Italy, on October 17.At the event, the Korea Trade-Investment Promotion Agency (KOTRA) and the Italian Trade Agency (ITA) signed an MOU for investment cooperation between the two countries. KOTRA also inked an MOU with Istituo Marangoni for the advancement of fashion design.During the ceremony, Minister Sung delivered date2018-10-18
-
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
-
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
-
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
-
Industry
Fewer working days lead to decrease in auto exports in September
The Ministry of Trade, Industry and Energy announced on October 12 that Korea’s automobile exports, production, and domestic sales in September all saw a year-on-year decrease on fewer working days due to the national Chuseok holiday.Exports of finished vehicles fell 18.4 percent to 183,964 units. In terms of region, all export destinations except non-EU European countries saw a decline: North America (down 14.0 percent to $1.2 billion), EU (down 32.7 percent to $542 million), the Middle E date2018-10-12
-
Energy
Minister Sung underlines value of energy transition at New Energy Industry Business Dialogue
Trade, Industry and Energy Minister Sung Yunmo (fourth from right) underlined the value of energy transition for innovation-driven growth during his welcoming speech at the New Energy Industry Business Dialogue that took place at COEX in Seoul on October 5.As part of the second-day schedule of the Korea Energy Transition Conference 2018, the dialogue was held to discuss strategies for creating new businesses and innovation-based growth engines with the help of Fourth Industrial Revolution techno date2018-10-05