Ministry of Trade, Industry and Energy

Korea developed world’s first 77-inch flexible, transparent OLED display

The Ministry of Trade, Industry and Energy announced on June 22 that Korea has developed the world’s first 77-inch flexible and transparent organic light-emitting diode (OLED) display in a government-funded project.    The Ministry, LG Display, and the Korea Evaluation Institute of Industrial Technology (KEIT) held on June 22 in Seoul a presentation for the outcome of the public-private project to develop a 60-inch or larger ultra high definition (UHD) flexible, transparent dis date2017-06-22

Kori Unit 1, Korea’s first nuclear reactor, ceases operations

President Moon Jae-in (center) delivered a speech at the ceremony to announce the retirement of Kori Unit 1, Korea’s first nuclear reactor, in front of the Kori Nuclear Power Plant, Gijang-gun, Busan, on June 19.    President Moon said the end of Kori Unit 1’s operation is the first step on Korea’s path to reduced dependency on nuclear energy and transition toward renewable energy.   The 587-megawatt reactor entered commercial operation in April 29, 1978 date2017-06-19

Kori Unit 1, Korea’s first nuclear reactor, ceases after 40 years of operation

The Ministry of Trade, Industry and Energy announced on June 19 that Kori Unit 1, Korea’s first nuclear reactor, ceased operations on the midnight of June 18 after 40 years of operations.   The Ministry and Korea Hydro and Nuclear Power (KHNP) hosted a ceremony on June 19 at the Kori Nuclear Power Plant in Gijang-gun, Busan to declare the retirement of the reactor. The event was attended by President Moon Jae-in, government and KHNP officials, residents of the hosting region, and ci date2017-06-19

ICT exports jump 17.4 percent to new record for May

The Ministry of Trade, Industry and Energy announced on June 14 that exports of information and communication technology (ICT) goods surged 17.4 percent year-on-year to USD 15.4 billion in May, a new record for the month. Exports in the ICT sector, which broke the previous record of $15.3 billion, set in May 2013, advanced for seven consecutive months and at double-digit rates for six straight months as outbound shipments of semiconductors rose sharply. Imports of ICT goods grew 13.4 percent t date2017-06-14

Korea-EU FTA Committee and Working Group Meeting held in Seoul

Director General for Trade Policy Yeo Han-koo (right) of the Ministry of Trade, Industry and Energy (MOTIE) and Director for Trade Strategy and Analysis Signe Ratso of the European Commission pose for a photo during the Korea-EU Free Trade Agreement Committee and Working Group Meeting in central Seoul on June 13.   Various committees and working groups established under the FTA met in Seoul between June 12 and 14 to review the implementation of the agreement, resolve trade issues, and di date2017-06-13

Strong sales of eco-friendly cars boost auto exports in May

The Ministry of Trade, Industry and Energy announced on June 13 that exports of automobiles rose by 3.6 percent to $3.5 billion in May on strong sales of eco-friendly vehicles, marking the fourth consecutive month of growth.   The number of vehicles shipped abroad increased 2.1 percent year-on-year to 221,237 in the meantime. The value of automobile exports grew at a faster pace on strong sales of eco-friendly cars and small-size sports utility vehicles.    An average price of date2017-06-13

Korea-EU FTA implementation committees meet in Seoul

The Ministry of Trade, Industry and Energy announced on June 11 that representatives from Korea and the European Union will meet in Seoul between June 12 and 14 to review the implementation of the Korea-EU Free Trade Agreement and discuss further economic cooperation.   Under the Korea-EU FTA, seven specialized committees, seven working groups, and a dialogue are established and supervised by the ministerial-level Trade Committee. During the upcoming session, the Working Group on Pharmace date2017-06-11

Vice Minister Woo presides ‘trade policy meeting’

Trade, Industry and Energy Vice Minister Woo Taehee (center) presided a “trade policy meeting” in southern Seoul on June 8 to review this year’s direction for the government’s responses to trade issues. The meeting was joined by around 10 trade experts.  date2017-06-08

Korea’s exports rose by 13.4% to $45 billion in May

The Ministry of Trade, Industry and Energy announced on June 1 that Korea’s exports jumped 13.4 percent to $45 billion from a year ago, marking the fifth consecutive month of a double-digit growth.    The average daily exports surged 16 percent to $2.1 billion, marking the sixth straight month of increase. Won-denominated exports also jumped 8.9 percent to 50.7 trillion won, growing for seven consecutive months for the first time in six years since May 2011. Both export volume date2017-06-01

Ministry celebrates 10th anniversary of Korea-ASEAN FTA

Trade, Industry and Energy Minister Joo Hyunghwan (third from right in the front row) posed for a photo at the ceremony for the 10th anniversary of the Korea-ASEAN (the Association of Southeast Asian Nations) Free Trade Agreement in southern Seoul on June 1.  The Ministry of Trade, Industry and Energy hosted the event to celebrate the achievements in trade and investment between Korea and the ASEAN region and to further expand economic and cultural cooperation as well as human exchange. Mi date2017-06-01