Ministry of Trade, Industry and Energy

Trade Minister Yoo delivers remarks at 2nd Korea-China Business Leaders and Former Government Officials Dialogue

Trade Minister Yoo Myung-hee (second from the left) delivered congratulatory remarks at the 2nd Korea-China Business Leaders and Former Government Officials Dialogue in Seoul on Dec 5.   The event was attended by business leaders and government officials from both countries, including Lawmaker Chung Sye-kyun, SK Group President Chey Tae-won, and China Center for International Economic Exchanges (CCIEE) President Zeng Peiyan. date2019-12-06

Vice Minister Cheong meets with Poland’s Plenipotentiary for Strategic Energy Infrastructure

Trade, Industry and Energy Vice Minister Cheong Seung-il (right) and Poland’s Plenipotentiary for Strategic Energy Infrastructure Piortr Naimski discussed ways to further strengthen bilateral cooperation on nuclear energy projects in Warsaw on Dec 4. date2019-12-05

Minister Sung and Party Secretary of China’s Shandong Province sign MOU on economic cooperation

Trade, Industry and Energy Minister Sung Yun-mo (right) and China’s Secretary of Shandong Provincial Party Committee Liu Jiayi signed a MOU to expand bilateral trade ties and economic cooperation in Seoul on Dec 2. date2019-12-04

Korea’s November exports fall 14.3% to $44.1 billion

The Ministry of Trade, Industry and Energy announced on December 1 that Korea’s exports in November saw a year-on-year decrease of 14.3 percent to USD 44.1 billion. Imports dropped 13.0 percent to $40.7 billion, resulting in a trade surplus of $3.4 billion.Korean exports last month were affected by several factors: ongoing external uncertainties such as the U.S.-China trade dispute and a global economic slowdown; a delayed price recovery of semiconductors, petrochemicals, and petroleum pro date2019-12-02

Korean retail industry sees sales growth of 4.1% in October

The Ministry of Trade, Industry and Energy announced on November 28 that overall retail sales in Korea improved 4.1 percent from a year earlier. Sales at web-based retailers saw a growth of 12.5 percent, but those at brick-and-mortar stores inched down 1.1 percent.These findings are based on surveys of 26 major retailers. Half of them are offline retailers: three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSM) operators. The oth date2019-11-29

Korean ICT exports amount to $15.5 billion in October

The Ministry of Trade, Industry and Energy announced on November 21 that Korea exported USD 15.5 billion worth of information and communications technology (ICT) goods in October. ICT imports totaled $9.4 billion, resulting in a trade surplus of $6.1 billion.ICT exports fell 23.3 percent from a year earlier due to decreasing shipments of semiconductors, displays, and mobile phones.By item, semiconductor exports dropped 32.1 percent year-on-year to $8.0 billion. System chips increased 6.7 percent date2019-11-22

[ASEAN-ROK Summit] Trade Minister Yoo discusses cooperation with ASEAN ambassadors to Korea in Seoul

Trade Minister Yoo Myung-hee had a luncheon meeting with ambassadors to the Republic of Korea from Association of Southeast Asian Nations (ASEAN) countries in Seoul on November 19 ahead of the ASEAN-Korea Commemorative Summit.The Summit scheduled to be held in Busan from November 25 to 26 will commemorate the 30th anniversary of dialogue relations between Korea and ASEAN.The luncheon was organized to call for cooperation from participating nations of the Summit for its success and discuss the in date2019-11-19

Trade Minister Yoo meets with ASEAN ambassadors

Trade Minister Yoo Myung-hee (fifth from the left) had a luncheon meeting with ambassadors from ASEAN countries in Seoul on Nov 19 to ask for their cooperation to ensure the success of the 2019 ASEAN-ROK Commemorative Summit that will be held in Busan from Nov 25 to 26.     date2019-11-19

Minister Sung meets with Qatar Energy Minister

Trade, Industry and Energy Minister Sung Yun-mo (right) met with Qatar Energy Minister Saad Sherida Al-Kaabi to discuss ways to further expand bilateral cooperation in the LNG and renewable energy sectors in Seoul on Nov 18. date2019-11-19

Exports of Korean eco-friendly cars increase 8.2% in October

The Ministry of Trade, Industry and Energy announced on November 14 that the Korean automobile industry’s green car exports improved 8.2 percent year-on-year to 23,555 vehicles in October. Overall auto exports, however, decreased 10.2 percent to 208,714 vehicles from a year earlier. In value terms, car exports slipped 2.3 percent to USD 3.8 billion.Automobile output fell 7.9 percent to 351,409 units, but this figure is higher than this year’s average monthly production, which is 326, date2019-11-15