Ministry of Trade, Industry and Energy

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

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