Ministry of Trade, Industry and Energy

Minister Welcomes Asian Energy Ministers

Minister of Trade, Energy and Industry Yoon Sang-jick delivers welcoming remarks on the occasion of the 5th Asian Ministerial Energy Roundtable on September 11 in Seoul. The event, aimed at establishing a cooperation network between oil producing nations and consumers, was attended by 31 energy ministers and around 150 industry leaders. date2013-09-13

IT Trade Figures for August

2013 ○ August Exports - All industries : $46.37 billion (7.7%) - IT industry : $14.5 billion (11.4%) Imports - All industries : $41.45 billion (0.8%) - IT industry : $6.36 billion (2.6%) Trade balance - All industries : $4.92 billion - IT industry : $8.13 billion   ○ First Eight Months Exports - All industries : $368.77 billion (1.7%) - IT industry : $109.78 billion (10.8%) Imports - All industries : $341.37 billion (-1.7%) - IT industry : $52.33 billion (3.5%) Trade balance - All industries : $27.4 billion - IT industry : $57.46 billion     2012 ○ August Exports - All industries : $43.05 billion (-6.0%) - IT industry : $13.02 billion (0.0%) Imports - All industries : $41.12 billion (-9.4%) - IT industry : $6.2 billion (-12.7%) Trade balance - All industries : $1.93 billion - IT industry : $6.82 billion   ○ First Eight Months Exports - All industries : $362.69 billion (-1.5%) - IT industry : $99.04 billion (-4.2%) Imports - All industries : $347.19 billion (-0.2%) - IT industry : $50.55 billion (-7.1%) Trade balance - All industries : $15.49 billion - IT industry : $48.49 billion       Exports gained 11.4 percent year on year to $14.5 billion, sustaining an upward trend for the twelfth consecutive month. Most notably, exports of mobile phones, semiconductors and televisions grew more than 20 percent from the previous year. Brisk sales of smartphones and components boosted outbound shipments of mobile phones. Exports of semiconductors continued to see growth for the eleventh month in a row reaching a record value of $4.99 billion. Outbound shipments of televisions jumped 40.7 percent to $880 million on the back of robust sales of premium products such as smart TVs. Demand for ultra-high definition (UHD) TVs introduced in June also contributed to this gain. However, exports of display panels along with computers and related devices continued to show negative growth. ○ Value of Exports - Mobile Phones : $1.95 billion - Household Devices : $400 million - Semiconductors : $4.99 billion - Display Panels : $2.47 billion - Computers and Related Devices : $580 million - Televisions : $880 million ○ Year-on-Year Growth - Mobile Phones : 28.5% - Household Devices : 6.4% - Semiconductors : 22.0% - Display Panels : -12.7% - Computers and Related Devices : -17.7% - Televisions : 40.7%       ○ Value of Exports - China : $7.44 billion - Japan : $550 million - United States : $1.36 billion - European Union : $1.13 billion - ASEAN : $1.84 billion - Oceania : $70 million - Latin America : $900 million - Middle East : $300 million   ○ Year-on-Year Growth - China : 9.6% - Japan : -15.0% - United States : 32.0% - European Union : -3.1% - ASEAN : 28.4% - Oceania : -12.1% - Latin America : 21.8% - Middle East : -7.2%         Meanwhile, IT imports rose 2.6 percent from a year earlier to $6.36 billion. While demand for semiconductors, computers and related devices, printed circuit boards and mobile phones strengthened, imports of flat display panels decreased. Although imports from Japan, th date2013-09-12

Car Sales Figures for August

Car Sales Figures for August Car Sales Figures for August The Ministry of Trade, Industry and Energy has released its car sales figures for August. The nation’s car production rose 44.3 percent year on year to 342,624 vehicles due to a low base effect. As consumer confidence improved, the number of vehicles sold on the domestic market climbed 29.4 percent to 125,044 vehicles. Led by strong marketing efforts and the introduction of new models, sales of domestic cars surged 29.0 percent. Th date2013-09-12

Minister Meets with UAE Energy Minister

Minister of Trade, Industry and Energy Yoon Sang-jick met with his UAE counterpart Minister of Energy Suhail bin Mohammed Al-Mazrouei on September 11 in Seoul. The two officials shared views on bilateral cooperation in the areas of energy, resources and economy.   date2013-09-12

Vice Minister Celebrates Energy Tech Insight 2013

Vice Minister for Industry and Technology Kim Jae-hong speaks at Energy Tech Insight 2013 on August 28 in Seoul. The event drew around 300 participants. date2013-09-09

Minister Attends EAS Economic Ministers’ Consultations

Minister of Trade, Industry and Energy Yoon Sang-jick (fourth from right, back row) travelled to Brunei, Indonesia on August 21 to attend the first RCEP•EAS Economic Ministers’ Consultations. Economic Ministers of Korea, China, Japan, Australia, New Zealand, India, the United States, Russia and the ten ASEAN member countries attended the meeting. date2013-09-05

Trade Figures for August

The Ministry of Trade, Industry and Energy has released its trade figures for August. The nation posted a $4.92 billion trade surplus, marking the 19th straight month in the black as export growth continued to show signs of recovery. 2012 ○ August - Exports : $43.05 billion (-6.0%) - Imports : $41.12 billion (-9.4%) - Trade Balance : $1.93 billion &nbsp; 2013 ○ July - Exports : $45.84 billion (2.6%) - Imports : $43.3 billion (3.2%) - Trade Balance : $2.54 billion ○ August - Exports : $46.37 billion (7.7%) - Imports :$41.45 billion (0.8%) - Trade Balance : $4.92 billion &nbsp; ○ First eight months - Exports : $368.77 billion (1.7%) - Imports : $341.37 billion (-1.7%) - Trade Balance : $27.4 billion &nbsp; &nbsp; - Year-on-year growth rates shown in parentheses. - Figures for August are based on tentative customs clearance data. &nbsp; &nbsp; &nbsp; ○ Value - Ships : $3.54 billion - Wireless Communications Devices : $2.19 billion - General Machinery : $3.38 billion - Petrochemicals : $4.21 billion - Steel : $2.71 billion - Semiconductors : $5.0 billion - Automobiles : $3.63 billion - Petroleum Products : $4.57 billion - LCD Devices : $2.17 billion - Textiles : $1.21 billion - Household Appliances : $1.45 billion - Automobile Parts : $2.1 billion - Computers : $680 million &nbsp; ○ Growth Rate - Ships : 26.2% - Wireless Communications Devices : 25.9% - General Machinery : -5.9% - Petrochemicals : 12.1% - Steel : -5.9% - Semiconductors : 22.1% - Automobiles : 43.9% - Petroleum Products : -6.9% - LCD Devices : -12.9% - Textiles : -4.2% - Household Appliances : 26.0% - Automobile Parts : 8.3% - Computers : -8.7% &nbsp; &nbsp; - The above figures are based on customs clearance data for the first 20 days of August and as such are only tentative. &nbsp; &nbsp; Exports to Key Trading Partners for August ○ Growth Rate - China : 14.5% - United States : 12.6% - Japan : -13.2% - European Union : 0.9% - ASEAN : 17.8% - Middle East : -8.7% - Latin America : 33.5% - Oceania : 122.2% &nbsp; ○ Percentage of All Exports - China : 28.5% - United States : 9.7% - Japan : 6.0% - European Union : 8.0% - ASEAN : 14.7% - Middle East : 4.0% - Latin America : 6.6% - Oceania : 5.7% &nbsp; &nbsp; &nbsp; &nbsp; <p class=" date2013-09-03

Korea, U.S. Speak On Trade

&nbsp;Korea, U.S. Speak On Trade Minister of Trade, Industry and Energy Yoon Sang-jick met one-on-one with the U.S. Trade Representative Michael Froman on August 21 in Brunei, Indonesia. date2013-09-03

Retail Sales Figures for July

○ Percentage of Total Sales - Household appliances and cultural goods : 12.7% - Apparel : 7.4% - Household goods : 18.9% - Sporting goods : 4.7% - General goods : 4.4% - Food : 52.0% ○ Growth Rate - Household appliances and cultural goods : -1.2% - Apparel : -8.8% - Household goods : -4.3% - Sporting goods : -6.8% - General goods : -7.0% - Food : -4.6% &nbsp; &nbsp; &nbsp; &nbsp; ○ Percentage of Total Sales - General goods : 21.3% - Women’s suits : 8.7% - Women’s casual wear : 12.6% - Men’s clothing : 6.8% - Children’s goods and sporting goods : 13.0% - Household goods : 10.4% - Luxury goods : 11.9% - Food : 15.3% &nbsp; ○ Growth Rate - General goods : -3.8% - Women’s suits : -4.8% - Women’s casual wear : -2.4% - Men’s clothing : -7.8% - Children’s goods and sporting goods : -0.7% - Household goods : 4.2% - Luxury goods : 1.4% - Food : 5.9% &nbsp; &nbsp; &nbsp; ○ Percentage of Total Sales - Household goods : 3.8% - General goods : 3.4% - Others : 37.2% - Food : 55.6% &nbsp; ○ Growth Rate - Household goods : 13.0% - General goods : -0.1% - Others : 7.7% - Food : 8.9% &nbsp; - Others include tobacco products. &nbsp; &nbsp; &nbsp; Sales Performance of Major Super Supermarket (SSM) Chains ○ Percentage of Total Sales - Daily necessities : 9.7% - General goods : 4.7% - Food : 85.6% &nbsp; ○ Growth Rate - Daily necessities : -2.7% - General goods : -9.7% - Food : -3.6% &nbsp; &nbsp; - Daily necessities include detergent, toothpaste, cosmetics and feminine products. date2013-08-22

Vice Minister Attends Carbon Footprint Seoul 2013

Vice Minister for Trade and Energy Han Jinhyun (fifth from left) cut the ribbon at the opening of Carbon Footprint Seoul 2013 on August 8. The event aims to promote a nationwide campaign for energy conservation and lay a foundation for the development of eco-friendly products. date2013-08-22