Ministry of Trade, Industry and Energy

Minister Sung visits pharmaceutical company to stress Korean government’s commitment to export industries

Trade, Industry and Energy Minister Sung Yun-mo (second from the left) stressed the Korean government’s commitment to export industries during his visit to a factory of Daewoong Pharmaceutical located in the Osong Life Science Complex in Cheongju on February 25.During his speech, Minister Sung said that the Ministry will develop tailored export promotion measures not only for major export items but also for highly promising products like pharmaceuticals. He added that the Ministry and rele date2019-02-25

Vice Minister Cheong gives New Year’s address to representatives of new, renewable energy industry

Trade, Industry and Energy Vice Minister Cheong Seung-il delivered a New Year’s address to representatives of Korea’s new and renewable energy industry at a meeting in Seoul on February 22.The gathering was held to express gratitude for efforts made by the new energy sector and to reiterate commitment to smooth implementation of the “Renewable Energy 3020” initiative.The meeting was attended by some 150 participants, including Korea New and Renewable Energy Association (K date2019-02-22

Korea, Turkmenistan hold 7th joint economic committee to strengthen bilateral ties

Trade, Industry and Energy Minister Sung Yun-mo (left) discussed with Turkmenistan Deputy Prime Minister of Petroleum and Mineral Resources Myratgeldi Meredov ways to enhance bilateral cooperation in economy, industry, energy, resources, and other key areas at the seventh Korea-Turkmenistan Joint Economic Committee held in Seoul on February 22.During the opening remarks, Minister Sung emphasized the importance of boosting the cooperation between the two countries as he reviewed the successful co date2019-02-22

Minister Sung meets with Indian Prime Minister Modi at Korea-India Business Symposium

Trade, Industry and Energy Minister Sung Yun-mo (left) met with India’s Prime Minister Narendra Modi and delivered welcoming remarks at the Korea-India Business Symposium held in Seoul on February 21.The event was attended by over 300 business leaders and officials from both countries, including Korea-India Economic Cooperation Committee Chairman Kong Young-woon and Indian Ambassador to Korea Sripriya Ranganathan. date2019-02-21

ICT exports reach $14.5 billion, imports amount to $9.4 billion in January

The Ministry of Trade, Industry and Energy announced on February 21 that Korea’s information and communications technology (ICT) Industry in January totaled USD 14.5 billion in exports and $9.4 billion in imports. The trade surplus stood at $5.1 billion.Outbound shipments of ICT goods last month decreased 18.2 percent compared to the same period of the previous year. This is attributable to declines in exports of semiconductors, displays, and mobile phones.By item, the value of semiconduct date2019-02-21

Minister Sung visits Korean electric bus maker to underscore Korea’s commitment to electric car industry

Trade, Industry and Energy Minister Sung Yun-mo (right) underscored the Korean government’s commitment to the electric car industry during his visit to an electric bus manufacturer located in Cheongju on February 19.After being briefed about the company summary and listening to the Korean electric car maker’s difficulties, Minister Sung took a closer look at its manufacturing process and encouraged the workers.During the visit, Minister Sung said that amid the growing proportion of e date2019-02-19

Trade Minister Kim meets with his Indonesian counterpart to resume talks on Korea-Indonesia CEPA

Trade Minister Kim Hyun-chong (left) met with Indonesian Minister of Trade Enggartiasto Lukita to officially resume talks on the Korea-Indonesia Comprehensive Economic Partnership Agreement (CEPA) at the 2019 Korea-Indonesia Business Forum held in Jakarta on February 19.During the forum, the two Ministers signed a joint statement on the official resumption of negotiations and discussed ways to step up economic cooperation in the age of the Fourth Industrial Revolution.The event was attended by s date2019-02-19

Industry Ministry, French Economy Ministry jointly host 5th forum on Innovative Industries 2019 in Seoul

Trade, Industry and Energy Vice Minister Cheong Seung-il (left) and France’s Minister of State for the Digital Sector Mounir Mahjoubi (right) attended the fifth Korea-France Forum on Innovative Industries 2019 jointly hosted by the Industry Ministry and the French Ministry for the Economy and Finance in Seoul on February 19.During his opening remarks, Vice Minister Cheong asked for joint efforts of the two countries to lead the technology paradigm of the future by engaging in digital-based date2019-02-19

Korean auto industry sees improvement in exports, production, and domestic sales in January

The Ministry of Trade, Industry and Energy announced on February 19 that the Korean automobile industry in January saw improvement in exports, production, and domestic sales.Automobile exports last month grew 12.6 percent year-on-year to 213,618 vehicles thanks to stronger sales of sports utility vehicles (SUVs) and eco-friendly cars in North America and Europe. In particular, outbound shipments of green cars soared 64.3 percent to 21,022 units.The number of domestic vehicles manufactured by sev date2019-02-19

Vice Minister Cheong meets with French Minister of State Mahjoubi to discuss industrial cooperation

Trade, Industry and Energy Vice Minister Cheong Seung-il (left) met with France’s Minister of State for the Digital Sector Mounir Mahjoubi to discuss industrial and economic ties between Korea and France in Seoul on February 19.At the meeting, Vice Minister Cheong talked about bolstering bilateral cooperation in new industries, including their trade and investment, and in the hydrogen economy that would see more hydrogen-powered vehicles on the road. date2019-02-19