Ministry of Trade, Industry and Energy

South Korean exports rebound in August

Exports: $ 40.1 Billion; Imports: $ 34.8 Billion; Trade Surplus: $ 5.3 Billion   The Ministry of Trade, Industry and Energy announced Wednesday that South Korea’s year-on-year exports rebounded in August, putting an end to the 18-straight-month fall.   The country’s outbound shipments rose 2.6 percent to $ 40.1 billion last month  from the same period a year ago mainly because of the extended working days. This was the first positive export growth since date2016-09-01

Vice Minister Woo delivers speech at Energy Tech Insight 2016

   Trade, Industry and Energy Vice Minister Woo Taehee delivered  a congratulatory remark and presented  Korea’s vision for new energy industry at the Energy Tech Insight (ETI) 2016, an international energy conference held at the COEX, southern Seoul, on August 30. Key speakers in the conference included lawmaker Jang Byung-wan, Korea Institute of Energy Technology Evaluation and Planning (KETEP) President Hwang Jin-tak, and Jean-François Gagné of the In date2016-09-01

Minister Joo attends 'hydrogen convergence alliance' opening ceremony

   Minister of Trade, Industry and Energy Joo Hyunghwan (second from left) attended the opening ceremony for the 'hydrogen convergence alliance'' in Seoul on August 24, along with  50 officials from government, local governments, and industry including Kim Yong-seok, director of the motor vehicles division at the Ministry of Land, Infrastructure and Transport, Oh Gyu-taek, and Ulsan Vice Mayor for Economic Affairs. The ceremony was held with an aim to “determine policy issu date2016-08-24

Minister Joo co-chairs the 13th AEM-ROK Consultations

Trade, Industry and Energy Minister Joo Hyunghwan (second from right) co-chaired the 13th ASEAN Economic Ministers-Republic of Korea Consultations in Vientiane, Lao PDR,  on August 4, 2016 (local time).  Co-hosted by Khemmani Pholsena, Minister of Industry and Commerce of Lao PDR,  Minister Joo discussed how to implement Korea-ASEAN FTA  with representatives of 10 ASEAN member countries. Joo shared his viewpoints on the industrialization of ASEAN countries and suppo date2016-08-04

Korean exports in July post USD 41 billion

Exports: $41.0 billion; Imports: $33.3 billion; Trade Surplus: $7.8 billion     The Ministry of Trade, Industry and Energy announced that South Korea’s exports fell 10.2 percent to $41.0 billion and imports decreased by 14.0 percent to $33.3 billion in July from a year earlier, resulting in a trade surplus, for the 54th consecutive month, of $ 7.8 billion.    Exports declined at a faster rate in July due to a reduced number of work days (-1.5 days) and fewer ship e date2016-08-03

Ministry, KEPCO to support EV operations during 2018 Pyeongchang Winter Olympics

The Ministry of Trade, Industry and Energy and state-run Korea Electric Power Corp. have recently signed an agreement with the Pyeongchang Organizing Committee to supply electric vehicles and charging stations during the 2018  Winter Olympics in Pyeongchang. The event was held  at the Plaza Hotel Seoul on July 26.     Under the agreement, KEPCO will buy around 220 electric vehicles and its power generation affiliates and KEPCO KDN will purchase over 6 date2016-07-29

Korea eyes overseas market with natural gas infrastructrue know-how

The Ministry of Trade, Industry and Energy held a ceremony to launch a task force that will be responsible for developing overseas markets for natural gas infrastructure  at the Korea Chamber of Commerce and Industry (KCCI)on July 21.     The task force is made up of construction companies, shipbuilders, shipping companies from the private sector, and Korea Gas Corporation, Korea Development Bank, Export-Import Bank of Korea, and Korea Trade Insurance Corporation, and KO date2016-07-27

Minister Joo hosts `Alliance for New Energy Business Conversion' meeting

Trade, Industry and Energy Minister Joo Hyunghwan (second from left) hosted the “Alliance for New Energy Business Conversion'' meeting with officials from state-run energy companies like Korea Electric Power Corp., financial institutions and private new energy business operators, including Hyundai Motor Group and Hanwha Group at the Plaza Seoul on July 22. The meeting was designed  to help exchange views on how to develop overseas projects in the new energy business sector. date2016-07-22

Minister Joo makes on-site trip to power plant to inspect power supply in summer

Trade, Industry and Energy Minister Joo Hyunghwan (center) made an unexpected on-site visit in the afternoon of July 15 to the headquarters of West Incheon/New Incheon Power Plant in order to ensure a stable supply of electricity during the high-demand summer season and flawless operation of the facilities. He asked the power plant staff to do their best to provide electricity to businesses and households in the area without glitches or accidents during the summer peak season, and expressed his date2016-07-16

Vice Minister Woo co-chairs new energy industry council meeting

   Trade, Industry and Energy Vice Minister Woo Taehee (second from right) co-chaired the 11th meeting of the new energy industry council in Seoul on July 15, with more than 30 energy industry leaders  including professor Kim Hee-jip of Seoul National University participating. The council discussed key issues for the development of the new energy industry. The Vice Minister said the government will promote the energy big data industry and accelerate efforts to ease regu date2016-07-15