Ministry of Trade, Industry and Energy

Retail Sales Figures for April

date2013-05-23

Korea, U.S. Discuss Trade Ties

date2013-05-23

MOTIE Releases Car Sales Figures for April

MOTIE Releases Car Sales Figures for April The Ministry of Trade, Industry and Energy has released its car sales figures for April. Despite more working days last month, the nation’s car production declined 2.5 percent year on year to 386,446 vehicles due to reduced working hours and sluggish export growth. The introduction of new models by domestic car producers and rising demand for imported cars, however, boosted vehicle sales on the domestic market up 3.0 percent to 132,938 units. Exp date2013-05-13

IT Trade Figures for April

Exports rose 17.5 percent year on year to $14.13 billion to record the highest monthly amount so far this year. Mobile phones and memory semiconductors showed strong growth, while exports of display panels, digital TVs and computers also grew at a moderate but healthy pace. Mobile phones saw an upswing on the back of strong performances in smartphones and related devices. While exports of computers grew by double-digits, exports of related devices such as printers and monitors declined sharply. Thanks to solid sales of premium products such as smart TVs, exports of televisions rose overall for the ninth month in a row. IT imports, meanwhile, gained 7.3 percent from a year earlier to $6.77 billion. While imports of electronic components such as semiconductors and printed circuit boards rose 15.4 percent, computers and related devices and mobile phones posted negative growth. Although imports from China and the United States declined, inbound shipments from Japan, Singapore, Taiwan and the European Union increased. date2013-05-10

Korea, Indonesia Stepping Up Energy Ties

South Korean Deputy Minister for Energy and Resources Kim Jundong led a delegation from the public and private sectors to Bail, Indonesia on April 30 to host the 6th Korea-Indonesia Energy Forum. The event was aimed at enhancing bilateral ties and exploring new business opportunities in the energy and resources sectors. Under the theme of “Collaboration in Energy Development and Technology Partnership,” the event consisted of four sessions including oil and gas, coal and minerals, electricity and renewable energy. The occasion provided a chance for 150 participants to hold in-depth discussions and share information about the two nations’ energy policies and opportunities for joint projects. On the sidelines of the forum, two separate working group-level meetings were arranged to discuss gas utilization and renewable energy and energy conservation. The meeting produced two memorandums of understanding and a memorandum of agreement at the private level on better utilizing Indonesia’s gas resources and developing promising joint projects in related industries. As the two nations have a long history of cooperating in a wide range of fields in the energy industry, Deputy Minister Kim said the forum would serve as an opportunity to strengthen their economic partnership and promote trade in the energy sector. * Released by the Asia Division; the Resources Development Strategy Division; and the New and Renewable Energy Division date2013-05-07

Trade Figures for April

date2013-05-02

Korea, Iraq Purse Closer Ties in Energy

date2013-05-02

Korea Introduces “Mini Foreign Investment Zones”

Under the new system, which came into effect on April 17, the minimum required area to designate an investment zone is lowered to 82,500 square meters. Previously, the requirement was 330,000 square meters. In an effort to pursue balanced regional development, the mini foreign investment zones will be designated only outside of the Seoul metropolitan area.     Companies investing in the new zones will receive the benefit of low rental fees, while businesses that invest US$ 1 million or more in the high-technology industry will be exempt from paying rent entirely.     * Released by the Foreign Investment Promotion Division date2013-04-26

Minister Attends 2013 APEC meeting

Minister Attends 2013 APEC meeting Minister of Trade, Industry and Energy Yoon Sang-jick (first row, third from right) stands with representatives of APEC member countries. He attended the 2013 APEC Ministers Responsible for Trade Meeting held on April 20 in Surabaya, Indonesia. date2013-04-25

Retail Sales Figures for March

date2013-04-19