Ministry of Trade, Industry and Energy

Korea’s exports grow 4% to $44.9 billion in February

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 1 that Korea’s exports in February grew 4 percent year-on-year to USD 44.9 billion. This was despite 2.5 fewer working days in February this year compared with the same month in 2017 because of the Seollal holiday.Exports of goods increased for 16 consecutive months for the first time in 74 months since December 2011. The average daily exports of goods rose 17.3 percent to $2.3 billion from a year earlier, achieving grow date2018-03-02

Minister Paik meets with Indian counterpart in New Delhi

Trade, Industry and Energy Minister Paik Ungyu (left) met with Indian Commerce and Industry Minister Suresh Prabhu during his visit to New Delhi, India, on February 27 (India time).During their meeting, Minister Paik and Minister Prabhu exchanged their views on issues of mutual interest, including the Korea-India Comprehensive Economic Partnership Agreement (CEPA) and technological cooperation in promising industries. date2018-02-28

Online retail sales increase 21.6% in January

The Ministry of Trade, Industry and Energy announced on February 27 that online retail sales in January increased 21.6 percent from a year earlier while overall retail sales remained roughly the same due to a 9.2 percent year-on-year decrease in in-store retail sales.Online retail sales in January this year saw the largest year-on-year increase since September 2017. This improvement is attributable to the occurrence of the Seollal holiday in February. In the previous year, the same holiday fell date2018-02-27

Minister Paik meets Abu Dhabi Executive Affairs Authority Chairman in UAE

Trade, Industry and Energy Minister Paik Ungyu (right) met Abu Dhabi Executive Affairs Authority Chairman Khaldoon Khalifa Al Mubarak during his visit to Abu Dhabi, the United Arab Emirates (U.A.E.), on February 26 (U.A.E. local time).During the meeting, Minister Paik and Chairman Al Mubarak discussed ways to enhance cooperation in industry and energy sectors. date2018-02-26

Minister Paik visits Barakah nuclear power plant construction site in UAE

Trade, Industry and Energy Minister Paik Ungyu (center, in yellow vest) visited the construction site of the Barakah Nuclear Energy Plant in the United Arab Emirates (U.A.E.) on February 24 (U.A.E. local time).During the visit, Minister Paik met with Emirates Nuclear Energy Corporation (ENEC) CEO Mohamed Al Hammadi to check the construction progress of the nuclear power plant.Minister Paik also attended a luncheon to encourage workers of the Korea Electric Power Corporation (KEPCO) and the Korea date2018-02-26

Korea, Russia discuss energy cooperation in Seoul

The Ministry of Trade, Industry and Energy’s Deputy Minister for Energy and Resources Park Won-joo (second from right) and Russia’s Deputy Minister of Energy Anton Inyutsyn (second from left) co-chaired the 15th Meeting of the Korea-Russia Joint Committee for Energy and Natural Resources Cooperation at a hotel in downtown Seoul on February 21.During the meeting, the two sides discussed means to enhance cooperation in the energy and natural resources sector. date2018-02-21

Trade Minister Kim signs trade deals with five Central American counterparts

Seoul, Korea - The Ministry of Trade, Industry and Energy announced that Trade Minister Kim Hyun-chong signed free trade agreements with representatives from five Central American countries in Seoul on February 21. The five Central American ministers were El Salvadoran Economy Minister Tharsis Salomón López Guzmán, Honduran Minister of Economic Development Arnaldo Castillo, Costa Rican Minister of Foreign Trade Alexander Mora, Nicaraguan Minister of Development, Industry an date2018-02-21

Trade Minister signs Korea-Central America FTA in Seoul

Trade Minister Kim Hyun-chong (third from left) posed for a photo with ministers from five Central American countries at the signing ceremony of the Korea-Central America Free Trade Agreements (FTA) in downtown Seoul on February 21.During the ceremony, Trade Minister Kim signed free trade agreements with representatives from five Central American countries: El Salvadoran Economy Minister Tharsis Salomón López Guzmán, Honduran Minister of Economic Development Arnaldo Castillo date2018-02-21

ICT exports rise 28.1% to $17.7 billion in January

The Ministry of Trade, Industry and Energy announced on February 13 that exports of information and communication technology (ICT) goods rose 28.1 percent year-on-year to USD 17.7 billion in January.Exports of ICT goods saw double-digit growth for the 14th consecutive month since December 2016, while reaching a record-high for each respective month for 12 straight months.The double-digit growth in ICT exports was led by a 53.8 percent year-on-year increase in outbound shipments of semiconductors date2018-02-21

Automobile exports post double-digit growth in January

The Ministry of Trade, Industry and Energy announced on February 13 that automobile exports surged 10.4 percent to 196,835 vehicles from a year earlier in January.In terms of value, car exports grew 9 percent year-on-year to USD 3.2 billion, thanks to increased shipments to most regions, except North America and other Asian countries. This growth was supported by the growing popularity of compact sports utility vehicles (SUVs) and eco-friendly cars. The number of green vehicles shipped overseas date2018-02-19