Ministry of Trade, Industry and Energy

ICT exports increase at double-digit rate to $20.2 billion in October

The Ministry of Trade, Industry and Energy announced on November 14 that exports of information and communications technology (ICT) products in October reached USD 20.2 billion, up 12.3 percent from the same period last year.ICT imports also increased 10.3 percent to $10 billion from a year earlier, and the trade surplus stood at $10.2 billion.Surpassing $20 billion in ICT exports for three straight months was led by semiconductors and computers and peripheral devices.Semiconductor exports rose date2018-11-14

Minister Sung meets with Canadian Senate Speaker George Furey

Trade, Industry and Energy Minister Sung Yunmo (right) met with Canadian Senate Speaker George Furey for a discussion at the Government Complex Seoul on November 12.The meeting was also attended by Canadian Senators Grant Mitchell, Yonah Martin, and Sarabjit S. Marwah, as well as Canadian Ambassador-designate to Korea Michael Danagher. date2018-11-12

Korea’s auto exports, domestic sales, production all grow at double-digit rates in October

The Ministry of Trade, Industry and Energy announced on November 12 that Korea's automobile exports, domestic sales, and production in October all posted double-digit year-on-year growth rates because of more working days last month.Exports of automobiles recorded 230,086 units, up 32.2 percent from the same period last year. In terms of value, they jumped 35.7 percent to USD 3.9 billion. This is attributable to greater demand for newly launched sports utility vehicles (SUVs) and eco-friendly ca date2018-11-12

Minister Sung attends MOU signing ceremony between battery makers

Trade, Industry and Energy Minister Sung Yunmo (center) attended the memorandum of understanding (MOU) signing ceremony between Korea’s battery manufacturers that was held in Seoul on November 12.After the MOUs were signed between the three battery makers to create a fund and collaborate on research and development, Minister Sung said in his speech that the Korean government will actively support technology innovation and investment in the battery sector.The event was attended by about 10 date2018-11-12

Minister Sung discusses with Korean business leaders

Trade, Industry and Energy Minister Sung Yunmo (fourth from left in the front row) had a discussion with business leaders of the Korea Chamber of Commerce and Industry (KCCI) at the KCCI building in Seoul on November 12.The meeting was held to listen to the opinions of the industry representatives and to enhance cooperation between the public and private sectors.Among the attendees were KCCI Chairman Park Yongmaan, Tong Yang Moolsan Corp. Chairman Kim Hui Yong, and LG Chem Vice Chairman Park Jin date2018-11-12

Minister Sung appreciates development of textile industry

Trade, Industry and Energy Minister Sung Yunmo (left) appreciated the development of the textile industry during his speech at the commemoration ceremony of the 32nd Textile Day in Seoul on November 9.At the event, Minister Sung said that the textile and fashion industries have been one of the main drivers of Korea’s economic growth and still play a key role in the country’s economy. Minister Sung also emphasized cooperation in manufacturing higher value-added products, developing ne date2018-11-09

Trade Ministry hosts Invest Korea Week 2018 in Seoul

The Ministry of Trade, Industry and Energy held an opening ceremony of the 14th Invest Korea Week (IKW) 2018 to promote Korea to foreign investors in Seoul on November 6.During the ceremony, Deputy Minister for International Trade and Legal Affairs Kim Changkyu (center) emphasized in his speech that Korea is being internationally recognized as an attractive investment destination with improved inter-Korean relations, test beds for new technologies and innovations, extensive free trade agreement date2018-11-06

Vice Minister Cheong awards government prizes on 18th Foreign Company Day

Trade, Industry and Energy Vice Minister Cheong Seung-il (center) awarded government prizes to 46 individuals and organizations that contributed to foreign investment in Korea during a ceremony of the 2018 Foreign Company Day held in Seoul on November 5.During its 18th commemoration, Vice Minister Cheong said that the foreign-invested enterprises in Korea have become one of key contributors to the country’s economy, accounting for 12 percent of the total sales, 20.2 percent of the total ex date2018-11-05

Trade Ministry to enhance industrial cooperation with Bulgaria

The Ministry of Trade, Industry and Energy held the second Korea-Bulgaria Industrial Cooperation Committee with the Korea Trade Commission’s Standing Commissioner Kang Myung-soo (left) and Bulgarian Deputy Minister of Economy Lachezar Borisov leading the talks in Seoul on November 2.The two sides discussed efforts for cooperation in economy, trade, and energy. They also talked about enhancing collaboration between private sectors and providing more support to Korean businesses in Bulgaria. date2018-11-02

Minister Sung and Danish counterpart seek green energy cooperation

Trade, Industry and Energy Minister Sung Yunmo (left) signed with Denmark’s Energy, Utilities and Climate Minister Lars Lilleholt a memorandum of understanding on cooperation in renewable energy and new energy industries at the 8th Korea-Denmark Green Growth Alliance Meeting in Seoul on November 1.During his opening speech at the event, Minister Sung said that the energy transition is inevitable in the current times and that the Ministry plans to expand the supply of renewable energies, st date2018-11-01