Ministry of Trade, Industry and Energy

Automobile exports advance 1.3% to $3.8 billion in June

The Ministry of Trade, Industry and Energy announced on July 13 that automobile exports expanded 1.3 percent to USD 3.8 billion from a year ago, marking the fifth consecutive month of growth.    The number of vehicles shipped abroad, as opposed to the value in dollars, grew 0.8 percent year-on-year to 240,475, thanks to strong sales in Europe and Central and South America despite the decline in sales in North America, the largest market for Korean automotive makers.    Do date2017-07-13

ICT exports soars 18% to new record for June

The Ministry of Trade, Industry and Energy announced on July 12 that exports of information and communication technology (ICT) goods soared 18 percent to USD 15.9 billion in June, a new record for the month.    Outbound shipments in the ICT sector expanded for eight consecutive months and at a double-digit rate for seven straight months as semiconductor exports continued to grow at a fast pace.    Imports of ICT goods jumped 21.7 percent to $8.9 billion. Trade surplus in date2017-07-12

Korea Trade Commission holds 2017 Seoul International Forum on Trade Remedies

Korea Trade Commission (KTC) Chairman Shin Hi-tack (sixth from right in the front row) and representatives of trade remedy agencies from across the world posed for a photo holding traditional Korean fans at the 2017 Seoul International Forum on Trade Remedies at the Korean Chamber of Commerce and Industry in central Seoul on July 6.    The KTC under the roof of the Ministry of Trade, Industry and Energy hosted its annual international forum under the theme of “Rules-based Trade date2017-07-06

FDI in Korea contracts 4.4% to $5 billion in 1st half

The Ministry of Trade, Industry and Energy announced on July 4 that USD 5 billion of foreign direct investment (FDI) arrived in Korea in the first half of this year, 4.4 percent down from a year earlier.     New FDI commitments to Korea also contracted 9.1 percent year-on-year to USD 9.6 billion amid growing uncertainties in the global economy such as two interest rate hikes by the U.S. Federal Reserve, negotiations on Britain’s exit from the European Union, and the rising prot date2017-07-04

Korea’s exports hit second highest on record in June, up 13.7% to $51.4 billion

The Ministry of Trade, Industry and Energy announced on July 1 that Korea’s exports surged 13.7 percent to USD 51.4 billion, the second highest on record, in June as outbound shipments of semiconductors and ships reached a record high.    The total exports grew at a double-digit rate for the sixth consecutive month for the first time in 69 months since September 2011. The average daily exports jumped 13.7 percent to $2.2 billion, marking the seventh straight month of increase, date2017-07-01

Ministry hosts information session on ASEM Economic Ministers’ Meeting for embassies in Korea

Trade, Industry and Energy Director-General for FTA Policy Lee Min-chul (second from right) spoke at the Information Session on the ASEM (ASIA-Europe Meeting) Economic Ministers’ Meeting on June 29 in Seoul. The seventh ASEM Economic Ministers’ Meeting, a gathering of trade and economy ministers from across Asia and Europe to promote trade and economic cooperation between the regions, will take place in Seoul between September 21 and 22.  The Ministry of Trade, Industry and Ene date2017-06-29

Retail sales up 6.3% on double-digit growth of e-commerce in May

The Ministry of Trade, Industry and Energy announced on June 29 that retail sales advanced 6.3 percent to 10.29 trillion won in May on a double-digit growth of e-commerce revenues.    Web-based sales, which accounts for about a third of the total retail sales, jumped 15.2 percent in May from a year earlier, while in-store sales advanced 2.5 percent.    The double-digit growth in online sales was led by an increased seasonal demand for home appliances and clothing. More pu date2017-06-29

Korea, Canada launch 1st joint industrial technology R&D program

The Ministry of Trade, Industry and Energy announced on June 26 that Korea and Canada launched their first-ever joint research and development program for industrial technologies.    The Korea-Canada joint R&D program supports domestic companies to cooperate with Canadian counterparts in the development of industrial technologies, in order to help them enter overseas markets and acquire advanced technologies.    The program will support projects in five fields of comm date2017-06-26

Vice Minister Woo presides 8th meeting of working group for Korea-US trade

Trade, Industry and Energy Vice Minister Woo Taehee (second from right) spoke at the eighth meeting of the pan-government working group for Korea-U.S. trade held on June 23 at the Government Complex Seoul to discuss the balance in trade with the U.S.  The meeting was joined by around 20 senior officials from various government departments including the Ministry of Strategy and Finance, the Ministry of Justice, and the Ministry of Health and Welfare. In this meeting held ahead of the relea date2017-06-23

Vice Minister Lee attends unveiling of world’s first 77-inch flexible, transparent OLED display

Trade, Industry and Energy Vice Minister Lee Inho (left) checked out a smart table built with a flexible and transparent display at a presentation on the outcome of the flexible, transparent display R&D project partly funded by the Ministry on June 22 in Seoul.  The project lasted nearly six years from August 2012 to June this year, and a total of 150.1 billion won has been invested. At the presentation, a 77-inch ultra high-definition flexible and transparent display with 40 percent t date2017-06-22