Ministry of Trade, Industry and Energy

Trade Minister Yoo meets with US Commerce Secretary Ross in Washington

Trade Minister Yoo Myung-hee (right) met with United States Department of Commerce Secretary Wilbur Ross in Washington, D.C., on May 14 (local time).During the meeting, the two top officials explored ways to expand trade and investment between the two countries. Trade Minister Yoo also explained Korea’s stance on Section 232 auto tariffs. date2019-05-15

Industry Ministry hosts ‘Korea Eureka Day 2019’ in UK

Trade, Industry and Energy Vice Minister Cheong Seung-il (third from the left) delivered welcoming remarks at the opening ceremony of “Korea Eureka Day 2019” held in Manchester, UK, on May 14 (local time).During his speech, Vice Minister Cheong said in times of accelerating technological innovation and shifting global value chains, the competitiveness of products depends on that of core technologies. He also hoped that the EUREKA network would expand its scope and depth of cooperatio date2019-05-15

Vice Minister Cheong attends EUREKA Global Innovation Summit 2019 in UK

Trade, Industry and Energy Vice Minister Cheong Seung-il (second from the left) received an appreciation plaque from UK Minister of State Chris Skidmore (left) for Korea’s 10-year participation in the EUREKA network at an event held in Manchester, UK, on May 14 (local time).Upon receiving the plaque at the EUREKA Global Innovation Summit, Vice Minister Cheong said the EUREKA network has expanded the horizon of technological cooperation between Korea and Europe. He also thanked EUREKA membe date2019-05-15

Minister Sung meets with Uzbek Public Health Minister in Seoul

Trade, Industry and Energy Minister Sung Yun-mo (left) had a meeting with Uzbekistan’s Public Health Minister Shadmanov Alisher Kayumovich in the Government Complex Seoul on May 14.The two Ministers discussed bilateral cooperation in bio-health and digital healthcare as well as subsequent efforts following the presidential summit that took place in April. date2019-05-14

Trade Minister Yoo meets with USTR Lighthizer in Washington

Trade Minister Yoo Myung-hee (second from the left) had a meeting with United States Trade Representative Robert Lighthizer (second from the right) in Washington, D.C., on May 13 (local time).During the meeting, Trade Minister Yoo discussed the status of trade and investment between Korea and the U.S. She also conveyed Korea’s stance on Section 232 auto tariffs. date2019-05-14

Minister Sung delivers speech on the 16th National Automobile Day in Seoul

Trade, Industry and Energy Minister Sung Yun-mo delivered his remarks at an event held for the 16th National Automobile Day in Seoul on May 10.During his speech, Minister Sung said that global competition in the automobile industry is intensifying as the paradigm is shifting from traditional cars that use internal combustion engines to future cars such as electric vehicles and self-driving cars.Minister Sung added that against this backdrop, the Korean government will strive to build a world-cla date2019-05-10

Minister Sung visits Smart Manufacturing Innovation Center in Ansan

Trade, Industry and Energy Minister Sung Yun-mo (center) checked the status of technologies being tested and certified for smart manufacturing at the Smart Manufacturing Innovation Center (SMIC) located in Ansan on May 9.The test bed tests and certifies various advanced technologies for smart production lines before their full implementation. Examples of these technologies are 5G networks, cooperative robots, artificial intelligence, augmented and virtual realities, and flexible, customer-orient date2019-05-09

Korea’s exports in April fall 2 percent to $48.9 billion

The Ministry of Trade, Industry and Energy announced on May 1 that Korea’s exports in April fell 2 percent to USD 48.9 billion compared to the same period a year earlier. Imports expanded 2.4 percent to $44.7 billion, resulting in a trade surplus of $4.1 billion.The decrease in exports was in part due to falling prices of semiconductors and petrochemicals as well as a slowing Chinese economy. Other external factors such as the ongoing U.S.-China trade dispute and stagnant world trade date2019-05-01

Sales of Korean retail industry grow 7.6 percent in March

The Ministry of Trade, Industry and Energy announced on April 28 that Korea’s online and offline retailers saw a year-on-year sales increase of 7.6 percent in March. Brick-and-mortar stores experienced a sales growth of 1.3 percent, and sales at online retailers grew by 18.2 percent.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 hypermarket chains, three convenience date2019-04-28

Fashion industry meets ICT technology in Seoul

Trade, Industry and Energy Minister Sung Yun-mo (right) and Seoul City Mayor Park Won-soon (center) attended the opening ceremony of a new state-of-the-art clothing shop in Dongdaemun District, Seoul, on April 25.The clothing store is capable of designing and producing customized clothes within 24 hours. This was possible because of the Dongdaemun area’s advanced fashion infrastructure and Korea’s competitive information and communications technology (ICT).During his speech at the ev date2019-04-25