Ministry of Trade, Industry and Energy

Trade Minister meets Governor of Wisconsin

Trade Minister Kim Hyun-chong (left) shook hands with Governor of Wisconsin Scott Walker during their meeting at the Ministry of Foreign Affairs in downtown Seoul on September 14.  Trade Minister Kim and Governor Walker, who led a 22-member delegation from the U.S. state of Wisconsin, exchanged views on the Korea-U.S. Free Trade Agreement and discussed economic collaborations between Korea and Wisconsin.    date2017-09-14

ICT exports hit all-time high in August, up nearly 24%

The Ministry of Trade, Industry and Energy announced on September 13 that exports of information and communication technology (ICT) goods hit all-time high in August, rising 23.9 percent to USD 17.5 billion from a year ago on record semiconductor sales.    Exports in the ICT sector advanced for 10 consecutive months and at a double digit rate for 9 straight months. For seven consecutive months, ICT exports set a new record for each month.    Imports of ICT goods 13.3 perc date2017-09-13

Korea’s car industry posts double-digit growths in production, exports in August

The Ministry of Trade, Industry and Energy announced on September 12 that production, domestic sales, and exports of automobiles jumped by double-digit rates in August.    The number of vehicles produced by five domestic carmakers -- Hyundai Motor, Kia Motors, GM Korea, Ssangyong Motor, and Renault Samsung Motors -- surged 26.3 percent to 274,166 units in August from a year earlier when large-scale strikes slowed down production.    Domestic sales that include imported ve date2017-09-12

Trade Minister attends 5th RCEP Ministerial Meeting in Manila

Trade Minister Kim Hyun-chong (fourth from left in the front row) posed for a photo at the fifth Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting on September 10 in Manila, the Philippines. Trade Minister Kim met with his counterparts from 15 other participating nations in Asia Pacific to accelerate negotiations for the proposed regional free trade agreement (FTA). The RCEP is the only mega FTA under negotiations involving 16 nations the region including Korea, Japan, Chin date2017-09-11

Trade Minister discusses regional cooperation at 20th AEM Plus Three Consultations in Manila

Trade Minister Kim Hyun-chong (third from right at the table) spoke at the 20th ASEAN (Association of Southeast Asian Nations) Economic Ministers (AEM) Plus Three Consultations on September 10 in Manila, the Philippines.  The meeting was attended by economic ministers from Korea, China, and Japan as well as from 10 ASEAN member countries. They reviewed the implementation of recommendations from the East Asia Vision Group, which Korea had proposed to establish, and sought how Korea, China, date2017-09-11

Korea, ASEAN discuss further economic cooperation in Manila

The Ministry of Trade, Industry and Energy announced on September 10 that Korea and the Association of Southeast Asian Nations (ASEAN) discussed further economic cooperation during Trade Minister Kim Hyun-chong’s visit to Manila from September 8 to 10.   The talks, which aim to deepen and expand relations with the ASEAN, encompassed further liberalization under the Korea-ASEAN Free Trade Agreement (FTA) and a new mega trade pact, the Regional Comprehensive Economic Partnership (RCEP date2017-09-10

Trade Minister exchanges views on economic issues with Mexico's Undersecretary of Foreign Affairs

Trade Minister Kim Hyun-chong (right) spoke with Mexico’s Undersecretary of Foreign Affairs Carlos Alberto De Icaza Gonzales at the Government Complex in Seoul on September 1 during the Mexican top official’s visit to Korea.  Trade Minister Kim and Foreign Affairs Undersecretary De Icaza exchanged views on issues of mutual interest including bilateral trade and economic cooperation and discussed latest developments on the renegotiation of the North American Free Trade Agreeme date2017-09-01

Exports grow 17.4% to $47.1 billion on record semiconductor sales in August

The Ministry of Trade, Industry and Energy announced on September 1 that Korea’s exports jumped 17.4 percent to USD 47.1 billion in August on record outbound shipments of semiconductors.   Exports expanded at a double-digit rate for the eighth consecutive month for the first time in 71 months since September 2011. The average daily exports rose by 17.4 percent to $2 billion and won-denominated exports surged 19.4 percent to 53.3 trillion won. Both export prices and volume advanced. date2017-09-01

Minister Paik discusses economic cooperation with Uzbekistan’s Deputy Prime Minister

Trade, Industry and Energy Minister Paik Ungyu (left) posed for a photo with Uzbekistan’s Deputy Prime Minister Jamshid Anvarovich Kuchkarov at the Government Complex in Seoul on August 31 during the Uzbek leader’s visit to Seoul. Minister Paik and Deputy Prime Minister Kuchkarov discussed the expansion of mutually beneficial bilateral economic cooperation as well as a plan to convene a meeting of the Korea-Uzbekistan Joint Committee on Trade and Economic Cooperation. The two leader date2017-08-31

Minister Paik meets business leaders of KCCI

Trade, Industry and Energy Minister Paik Ungyu (fourth from left in the front row) posed for a photo with business leaders of the Korea Chamber of Commerce and Industry (KCCI), a major trade association, during a meeting in downtown Seoul on August 31.  Minister Paik held a meeting with the KCCI leadership to share the new government’s core values and expand communications with industries.  Minister Paik said in his opening remarks that the Ministry will help create jobs by enc date2017-08-31