Ministry of Trade, Industry and Energy

Exports of Korea’s ICT goods grow 29.1% to $19.3 billion in June

The Ministry of Trade, Industry and Energy announced on July 14 that exports of Korea’s information and communications technology (ICT) goods increased 29.1 percent to USD 19.3 billion in June, posting growth for 13 consecutive months and hitting the record high export value for the month of June in history. Imports went up 17.7 percent to $10.6 billion, and the trade balance stood at a surplus of $8.7 billion. Exports of chips, displays, and computers and peripherals recorded growth, bu date2021-07-14

Minister Moon meets with energy firms to discuss demand response program

Trade, Industry and Energy Minister Moon Sungwook held a virtual meeting with demand side management companies and participants of demand response (DR) programs, on July 13, to discuss measures to effectively manage energy demand during summer. The DR market, first established in 2014, has played a role in meeting energy demand in summer and winter months as participant companies adjust energy consumption during peak hours and in turn get compensated. Minister Moon encouraged related firms to pa date2021-07-13

Minister Moon meets with root industry representatives

Trade, Industry and Energy Minister Moon Sungwook (left) visited the plant of Dong-A Precision Industrial Company, a local mold manufacturer, in Bucheon, Gyeonggi Province, on July 12, to encourage the firm’s introduction of smart robots to the manufacturing process, thereby reducing working hours and improving product quality. After the visit, Minister Moon met with root industry representatives and emphasized the need for qualitative growth centered on technological innovation in order t date2021-07-12

Korea's automobile exports log double-digit growth between Jan and May

Korea's automobile exports log double-digit growth between Jan and May date2021-07-12

Minister Moon visits department store chain ahead of toughened quarantine measures

Trade, Industry and Energy Minister Moon Sungwook (center) made a visit to Lotte Department Store’s Myeongdong branch in Seoul, on July 11, to check the quarantine management system at a large scale retail store ahead of the implementation of tougher social distancing rules. date2021-07-12

Foreign direct investment pledged to Korea jump 71.5% to $13.1 billion in H1

The Ministry of Trade, Industry and Energy announced on July 7 that foreign direct investments (FDIs) pledged to Korea in the first half of the year jumped 71.5 percent year-on-year to USD 13.1 billion. The FDIs that actually arrived in Korea over the same period expanded 57.3 percent to $7.8 billion. Both FDI pledges and arrivals recorded the second highest values for the first half of the year in history on the back of expectations of a global economic recovery and increased confidence in Kor date2021-07-07

Minister Moon holds meeting with heads of public institutions

Trade, Industry and Energy Minister Moon Sungwook (center) held a meeting with heads of 40 public institutions, on July 7, to review the progress of state-led projects and discuss pending issues in the industry including field safety and energy conservation.Minister Moon emphasized that it is important to create safe working environments for employees, provide stable power supply, improve safety management of power facilities and keep quarantine rules at all times. date2021-07-07

Korea, EU agree to cooperate for climate goals

Trade, Industry and Energy Minister Moon Sungwook (right) met with Frans Timmermans, European Commission Executive Vice President for the European Green Deal, in Seoul, on July 6, to discuss cooperative measures to fight against climate change. The two sides agreed on the need to expand cooperation in energy issues, for example, clean hydrogen, as they share the goal to achieve carbon neutrality by 2050. date2021-07-07

Minister Moon visits site of secondary battery production

Trade, Industry and Energy Minister Moon Sungwook (right) visited the Ulsan plant of Samsung SDI, a local manufacturer of rechargeable batteries, on July 5, to discuss with industry representatives the development strategy for the battery sector. The government plans to unveil a detailed development strategy for the secondary battery industry in order to boost technological development, discover key materials, parts and equipment firms, and foster skilled manpower. date2021-07-05

Korea, Saudi Arabia to speed up cooperation in clean energy, bio-health, digital sectors

Trade, Industry and Energy Minister Moon Sungwook met his Saudi counterpart, Khalid Al-Falih, on June 30, at a virtual meeting of Korea-Saudi Vision 2030 Committee, established in 2017 to expand bilateral ties between the two countries. Minister Moon suggested broader cooperation in hydrogen energy, bio-health, and digital transformation, which are promising sectors in the post-pandemic era.   date2021-07-02