Ministry of Trade, Industry and Energy

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

Retail sales advance 3.6% in July

The Ministry of Trade, Industry and Energy announced on August 30 that retail sales advanced 3.6 percent to $10.2 trillion won in July from a year earlier.   Web-based sales, which account for about a third of the total retail sales, rose by 4.4 percent year-on-year, and in-store sales grew 3.2 percent.   Growth in online retail sales moderated after five consecutive months of double-digit expansion due to decrease in revenues of online sales intermediaries. Brick-and-mortar sales date2017-08-30

Vice Minister Lee hosts 1st consultative meeting on renewable energy policies

Trade, Industry and Energy Vice Minister Lee Inho (third from left) spoke at the first consultation meeting on renewable energy policies in a hotel in downtown Seoul on August 24.  The meeting was designed to bring together municipal governments, civic groups, industries, and academics to cooperate on the government’s goal to boost the proportion of renewable energy in power generation to 20 percent by 2030.  Vice Minister Lee delivered a speech and discussed various renewable date2017-08-24

Trade Minister presides meeting to review exports in major sectors

Trade Minister Kim Hyun-chong (second from left) discussed trade issues with industry representatives at a meeting to review exports in Korea’s major sectors in downtown Seoul on August 24.  Trade Minister Kim, who presided the meeting held in the Korea Trade Insurance Corp. (K-sure), said that the Korean government will actively respond to trade protectionism, strengthen economic cooperation with emerging markets, and help boost the link between trade and industrial development.&nbs date2017-08-24