Ministry of Trade, Industry and Energy

Groundbreaking ceremony held for hydrogen station at Korean National Assembly

Trade, Industry and Energy Minister Sung Yun-mo (second from the right) and SMEs and Startups Minister Park Young-sun (second from the left) participated in the groundbreaking ceremony for a hydrogen fueling station at the Korean National Assembly in Seoul on May 30.The ceremony was attended by more than 50 participants, including Lawmaker Hong Il-pyo, Hyundai Motor President Gong Young-woon, and HyNet CEO Yoo Jong-soo. date2019-05-30

Online retail sales jump 14.1 percent in April

The Ministry of Trade, Industry and Energy announced on May 30 that sales of Korea’s online retail industry improved 14.1 percent in April compared to the same period last year. Offline retailers, on the other hand, saw a 2.9 percent decrease in sales, resulting in a 3.5 percent growth in overall retail sales.The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are brick-and-mortar retailers: three department store chains, three hypermarke date2019-05-30

Korea, Germany hold seminar for cooperation in semiconductor technology

Trade, Industry and Energy Minister Sung Yun-mo delivered a speech at the Korea-Germany seminar on semiconductor technology held in Seoul on May 28.At the seminar, executives from Germany’s Infineon Technologies gave presentations on semiconductor technologies used in various areas such as security, autonomous vehicles, and energy efficiency.The event was attended by some 200 representatives from industry, academia, and research institutes, including German Ambassador to Korea Stephan Auer date2019-05-28

Industry Ministry, China’s Jiangsu Province to advance trade, investment ties

Trade, Industry and Energy Minister Sung Yun-mo (left) met with Communist Party Secretary of China’s Jiangsu Province Lou Qinjian in Seoul on May 27.Minister Sung and Secretary Lou discussed ways to promote cooperation between the two sides in industry, trade, and investment.As part of this effort, the two officials signed a memorandum of understanding on improving economic and trade ties. Both sides agreed to enhance collaboration in new industries as well as industrial complexes located date2019-05-27

Trade Minister Yoo meets with Brazil’s Foreign Minister Araújo in Paris

Trade Minister Yoo Myung-hee (left) had a bilateral meeting with Brazil’s Minister of Foreign Affairs Ernesto Araújo on May 23 during her visit to Paris for the 2019 OECD Ministerial Council Meeting.The two sides celebrated the 60th anniversary of bilateral relations between Korea and Brazil, confirmed the necessity of accelerating negotiations for signing the Korea-MERCOSUR trade agreement, and agreed to expand cooperation in various areas such as investment and infrastructure. date2019-05-24

Trade Minister Yoo speaks at 2019 OECD Ministerial Council Meeting in Paris

Trade Minister Yoo Myung-hee (third from the right) spoke at the trade and investment session titled “Reaping and Diversifying the Benefits of Trade in the Digital Era” of the 2019 OECD Ministerial Council Meeting held in Paris from May 22 to 23.To address challenges in the digital era, Trade Minister Yoo suggested ways of building an inclusive digital ecosystem through the promotion of innovation in small and medium-sized enterprises and the expansion of open data. She also mentione date2019-05-24

Minister Sung visits hydrogen fueling station in Anseong

Trade, Industry and Energy Minister Sung visited a hydrogen fueling station in a rest area along an expressway in Anseong, south of Seoul, on May 23.Minister Sung charged his hydrogen vehicle for official use at the site after checking the status of the facility. date2019-05-23

Korea, Brazil to strengthen trade, investment ties

Deputy Minister for FTA Negotiations Yeo Han-koo (left) met with Brazilian Minister of Foreign Affairs Ernesto Araújo to exchange views on a range of issues between the two countries, including the Korea-MERCOSUR trade agreement, in Brasilia on May 20 (local time).Deputy Minister Yeo also gave an opening speech at the Korea-Brazil Forum for Industrial Cooperation held in São Paulo on the following day.During his speech, Deputy Minister Yeo said that the potential for trade expansio date2019-05-22

Exports of Korean ICT goods total $15.2 billion in April

The Ministry of Trade, Industry and Energy announced on May 21 that exports of the Korean information and communications technology (ICT) goods in April totaled USD 15.2 billion, down 10.6 percent compared to a year earlier.Imports grew 9.4 percent to $9.5 billion, and the trade balance stood at a surplus of $5.7 billion.Exports experienced year-on-year declines for six straight months because of a continuous slowdown in semiconductors and displays.By item, shipments of semiconductors, displays, date2019-05-21

Vice Minister Cheong discusses industrial ties with his UK counterparts in London

Trade, Industry and Energy Vice Minister Cheong Seung-il (second from the left) had a series of meetings with the UK’s Parliamentary Under Secretary of State Andrew Stephenson and Permanent Secretary Alex Chisholm at the Department for Business, Energy and Industrial Strategy in London on May 15 (local time).The two sides shared each other’s policy directions and agreed to closely cooperate in new future industries such as artificial intelligence, future cars, and biotechnology as a date2019-05-16