Ministry of Trade, Industry and Energy

Automobile Industry Trends in the First Half of 2015

    □ Domestic sales of South Korean automobiles in the first half of 2015 increased by 6.2 percent from a year earlier. Automobile production and exports decreased by 0.9 percent and 3.0 percent, respectively.   □ : Production decreased by 0.9 percent from a year earlier to 2,321,840 units, despite a rise in domestic sales. This was mainly attributable to a decline in exports, especially to emerging markets suffering from slowing economies.   □ : Home-based sales increased by 6.2 percent from a year earlier to 857,169 units. Sales of multi-purpose and imported vehicles were especially strong.   - Sales of domestically-produced cars rose by 3.4 percent from a year earlier to 727,155. Multi-purpose vehicles, such as SUVs and mini-vans, were in especially high demand.   - Sales of imported cars maintained their high rate of growth, recording their largest-ever sales in the first half of 2015.   □ : Exports decreased by 3.0 percent from a year earlier to 1,551,982 units. This was mostly attributable to economic slowdowns in emerging markets and lowered price competitiveness following the depreciation of the yen and the euro. It also happened in spite of higher exports to North America.   date2015-07-06

MOTIE Hosts NANO KOREA 2015

    The Ministry of Trade, Industry and Energy (MOTIE) hosted NANO KOREA 2014, the 13th International Nanotech Symposium & Nano-Convergence Expo in Korea, from July 1 to July 3 in Seoul.   About 372 companies from 16 countries and 5,077 participants from 30 countries around the world attended the 13th annual event, which is co-hosted by .   Hwang Gyu-yeon, deputy minister of , gave a congratulatory speech on the first day of the event, which aims to promote business and industrial opportunities for nanotechnology.   To find more information about NANO KOREA 2015 with this year's theme of "Nanotechnology, the Engine of Creative Economy," please visit its English website at date2015-07-03

MOTIE Minister Yoon Meets with Qualcomm Chairman

      Minister of Trade, Industry and Energy Yoon Sang-jick received a visit by Paul E. Jacobs, executive chairman of Qualcomm, at his satellite office in Seoul earlier this week.   The two discussed ways to promote cooperation between South Korea and the world's largest supplier of mobile chips in the areas of investment and future growth engine industries like semiconductors, mobile telecommunications, Internet of Things (IoT), and robotics.   Minister Yoon also met with Robert S. Franklin, president of Exxon Mobil Gas and Power Marketing Co., yesterday to discuss cooperation in energy resources and industrial technology. date2015-07-02

South Korea to Cut Gas Emissions by 37% from BAU Levels by 2030

      South Korea, one of the world's top 10 carbon producers, has finalized its target of reducing greenhouse gas emissions by 37 percent from business-as-usual (BAU) levels by 2030, the Ministry of Trade, Industry and Energy (MOTIE) said in a joint statement with other relevant ministries.   "We decided to raise the target from the reduction scenarios, considering our leadership on climate change such as inviting the GCF (Green Climate Fund), our global responsibility, and the opportunity to develop energy-related new businesses and innovate the manufacturing sector," the statement said.   Earlier this month, the Korean government outlined four scenarios for the country's emissions target ranging from 14.7 percent to 31.3 percent, and said a final rate would be set after holding a public hearing.   The final target will be submitted to the United Nations (UN) today, which is expected to produce a global framework for carbon emissions reduction from 2020 to 2030 at its year-end meeting in December in Paris.   In 2009, South Korea voluntarily set a goal to cut greenhouse gas emissions to 30 percent below BAU levels by 2020. It also started the world's second-biggest carbon emission market in January, which imposes caps on emissions from 525 of the country's biggest companies.   The country is pushing forward with a plan to build four fewer coal plants and two more nuclear reactors by 2029 to generate more power and curb emissions, according to the latest power plan released by MOTIE this month.   date2015-07-01

ROK and Tanzania to Strengthen Business Cooperation

      The Republic of Korea (ROK) and Tanzania are seeking ways to promote business cooperation as part of their efforts to develop a win-win economic partnership between the two countries.   Lee Sang-jin, director-general of the Economic Cooperation Bureau at the Ministry of Trade, Industry and Energy (MOTIE) of the ROK, stressed the importance of such a partnership at the ROK-Tanzania Business Forum 2015 held in Dodoma earlier this week.   About 300 business representatives from both countries attended this year's forum, which discussed various opportunities for Korean companies to tap into Tanzania's infrastructure projects and economic and industrial investment. date2015-06-30

Sales Trends by Major Retailers in May 2015

  □ The sales by major retailers, including those of hypermarkets, department stores and convenience stores, rose from a year earlier, while those of super supermarkets fell in May 2015. □ The sales of hypermarkets and department stores increased for two consecutive months while that of convenience stores increased drastically for four consecutive months. □By product group, the sales of food, clothing, popular brands items and others increased.   date2015-06-30

Automobile Industry Trends for May 2015

    □ The volume of South Korean automobile production and exports decreased by 2.1 percent and 3.1 percent, respectively, while domestic sales increased by 2.3%. This was attributed to recession in emerging markets such as Eastern Europe, Middle East, and Latin America, Yen and Euro depreciation, and strong sales of multi-purpose vehicles in the domestic market.   □ : Production decreased by 2.1 percent from a year earlier to 365,643 units. This fall was mainly attributable to reduced domestic sales and exports.   □ : Domestic sales increased by 2.3 percent from a year earlier to 140,538 units. This was attributable to increased demand in multi-purpose vehicles such as Tucson, Sorento, Carnival, and Tivoli.   - Sales of imported cars increased by 17.8 percent from a year earlier to 20,589 units.   □ : Exports decreased by 3.1 percent from a year earlier to 246,093 units. This was mainly attributable to weakened competitive edge due to Yen and Euro depreciation and demand contraction in emerging markets such as Russia and Latin America.   date2015-06-30

30 SMEs to receive R&D support to become global

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 30 that the MOTIE and SMBA have jointly singled out 30 SME's to help them become the champions of tomorrow.     Comprised of 11 medium-sized enterprises and 19 small businesses, the 30 companies posted 106.4 billion won ($ 96 million) in annual sales and averaged $ 59 million in exports. Fourteen of them are located in Seoul while the other sixteen are located in other regions.     Eleven of them are electro date2015-06-30

Korea and Japan hold talks over import regulations on Japanese fisheries products

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 26 that Korea and Japan held talks over Japanese fisheries products between June 24 and 25 at the WTO office in Geneva Switzerland, but only ended up checking the differences in views on the issue.     At the meeting, Japan repeatedly requested that Korea should immediately lift the ban because the action contradicts the transparency and scientific basis as required by the WTO SPS agreement.     In return, t date2015-06-26

MOTIE Vice Minister Lee Meets with Humanoid Robot 'Hubo'

MOTIE Vice Minister Lee Meets with Humanoid Robot 'Hubo'   The MOTIE's 1st Vice Minister Lee Kwan-sup visited the Humanoid Robot Research Center (Hubo Lab) at the Korea Advanced Institute of Science and Technology (KAIST) in Daejeon, South Korea, yesterday.   During the visit, VM Lee congratulated the roboticists of Team Kaist for winning a $2 million global challenge to develop a mobile robot capable of assisting humans in responding to natural and man-made disasters.   Earlier t date2015-06-25