Ministry of Trade, Industry and Energy

Minister Moon visits World Expo in Dubai

Trade, Industry and Energy Minister Moon Sungwook (left) visited the site of Expo 2020 Dubai in the United Arab Emirates (UAE) on October 23 (local time), and promoted Busan’s bid to host the global event in 2030.   After visiting the Korea Pavilion on the theme of future mobility, Minister Moon met with Director General of Expo 2020 Dubai Reem bint Ibrahim Al Hashimy, as part of an effort to host the World Expo in Busan.   date2021-10-23

MOTIE minister meets with Kazakh Deputy Prime Minister

Trade, Industry and Energy Minister Moon Sungwook (right) met with Kazakhstan’s Deputy Prime Minister Roman Skylar in Seoul, on October 21, to discuss follow-up measures to a summit agreement in August to expand economic and industrial cooperation between the two countries.   Minister Moon expressed his gratitude that the Kazakhstani government has established a special working group dedicated to cooperative projects with Korea, and said that the Korean government will continue to p date2021-10-21

MOTIE hosts 2021 Digital Transformation Fair

Trade, Industry and Energy Vice Minister Park Jin-kyu (fourth from the right) attended the opening ceremony for the 2021 D.Ton (Digital Transformation Fair: On-line & On-site), held to introduce advanced technology and machinery and enhance the global competitiveness of the domestic machinery industry.   Vice Minister Park, in his congratulatory speech, encouraged the machinery industry’s efforts to maintain strong exports despite COVID-19 challenges, and emphasized the industry date2021-10-19

Exports of green cars set new record in September

The Ministry of Trade, Industry and Energy announced on October 15 that outbound shipments of green cars from Korea set new records in the number of units shipped overseas (34,823 units), value ($1.0 billion) and share of total exports (23.8 percent).   Automobile output, domestic sales, and exports decreased 33.0 percent, 29.7 percent, and 20.7 percent, respectively, for the month of September. The decline was attributable to global semiconductor shortages and four fewer working days com date2021-10-18

Computers, a must-have in the contactless work-from-home era

Computers, a must-have in the contactless work-from-home era date2021-10-14

Korea’s ICT exports hit new record in September

The Ministry of Trade, Industry and Energy announced on October 13 that outbound shipments of Korea’s information and communications technology (ICT) goods recorded the highest monthly value since the Ministry started compiling data in 1996, rising 21.1 percent to USD 21.3 billion in September.   Imports increased 18.8 percent to $11.4 billion, and the trade balance stood at a surplus of $10.0 billion.   Exports of all major ICT products posted double-digit growth, boosted by date2021-10-13

Cumulative FDI inflows to Korea advance 41.3% to $18.2 billion in Q3

The Ministry of Trade, Industry and Energy announced on October 7 that the cumulative foreign direct investments (FDIs) pledged to Korea over the first three quarters of the year advanced 41.3 percent to USD 18.2 billion. The FDIs that actually arrived in Korea over the same period expanded 40.9 percent to $11.7 billion.   Both FDI pledges and arrivals recorded the second highest cumulative values for the first three quarters on record.   Advanced technologies continued to attract date2021-10-07

Minister Moon encourages steel industry’s efforts to produce eco-friendly steel

Trade, Industry and Energy Minister Moon Sungwook (second from the left) attended the Hydrogen Iron & Steel Making (HyIS) Forum, organized to start an industrywide discussion on measures to achieve carbon neutrality through hydrogen-based steelmaking.   Minister Moon welcomed the industry’s technological innovation efforts to reduce carbon emissions, and said that the government plans to prepare a policy to stabilize the supply for green hydrogen. date2021-10-06

Korea’s exports hit record high monthly value in September

The Ministry of Trade, Industry and Energy announced on October 1 that Korea’s exports in September increased 16.7 percent to USD 55.8 billion, the highest on record since 1956 when Korea first started compiling trade data.   The achievement was possible despite two fewer working days compared to the same period last year. Korea extended export growth to 11 consecutive months, and recorded double-digit growth for seven straight months.   Average daily exports also set a new r date2021-10-01

Korea’s August retail sales rise 6.4%

The Ministry of Trade, Industry and Energy announced on September 29 that Korea’s retail sales in August posted year-on-year growth of 6.4 percent.   Both physical and online retailers experienced growth in sales, up 2.5 percent and 11.1 percent, respectively.   The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, date2021-09-29