Ministry of Trade, Industry and Energy

Vice Minister Greets Kuwaiti Ambassador

Vice Minister for Trade and Energy Cho Seok meets with Kuwaiti Ambassador to Korea Muteb Al-Mutoteh on April 3 in the Gwacheon Government Complex. The two officials exchanged views on bilateral economic ties. date2012-04-17

Minister, Middle Eastern Ambassadors Promote Cooperation at Seoul Forum

Minister of Knowledge Economy Sukwoo HONG stands with the ambassadors of 10 Middle Eastern countries and some Korean business leaders on March 29 in Seoul. The group gathered at the Lotte Hotel for the Korea-Middle East Economic Cooperation Forum. date2012-04-13

MKE Releases Car Sales Figures for March

MKE Releases Car Sales Figures for March The Ministry of Knowledge Economy has released its car sales figures for March. Korea’s automobile production rose 6.3 percent year on year to 420,759 vehicles on the back of strong export growth. Rising demand for fuel-efficient vehicles, greater brand awareness and the Korea-EU FTA drove exports up 18.1 percent to 305,527 vehicles—a record high. Although the Korea-U.S. FTA took effect, high oil prices and weak consumer confidence pushed sa date2012-04-13

Foreign Investment Figures for First Quarter

date2012-04-12

IT Trade Figures for March

date2012-04-10

Korea, Myanmar Strengthen Economic Ties

Minister of Knowledge Economy Sukwoo HONG met his Myanmarese counterpart, Minister of Industry Soe Thane, on March 21 in Seoul. The two ministers discussed ways to expand the scope of bilateral economic cooperation. date2012-04-09

Vice Minister Speaks at Nuclear Industry Summit

Vice Minister Speaks at Nuclear Industry Summit Vice Minister for Industry and Technology Yoon Sang-Jick speaks at the 2012 Seoul Nuclear Industry Summit on March 23 in Seoul. The Summit promoted the nuclear power industry and strengthened Korea’s position in the global market. date2012-04-09

Korea, Vietnam Discuss Energy

Korea, Vietnam Discuss Energy 2012/04/09 Minister of Knowledge Economy Sukwoo HONG sits with his Vietnamese counterpart, Minister of Industry and Trade Vu Huy Hoang, on March 26 in Seoul. The two officials discussed ways to strengthen bilateral cooperation on energy and resources. date2012-04-09

Korea Hosts Green Energy Expo

Vice Minister for Trade and Energy Cho Seok stands with other leaders to mark the opening of the International Green Energy Expo and Conference in Daegu on March 28. The fair drew more than 100 government officials and CEOs from related industries. date2012-04-09

Trade Figures for March

The Ministry of Knowledge Economy has released its trade figures for March. The nation’s trade balance remained in the black, posting a $2.3 billion surplus. Although exports declined slightly for the month, the first quarter as a whole saw outbound shipments increase 3.0 percent to $135 billion. Exports fell 1.4 percent year on year to $47.4 billion. The average value of all exports per day increased 0.7 percent to 2.0 billion. While outbound shipments of automobiles and petroleum products showed strong performances, exports of semiconductors, shipbuilding and wireless communications devices weakened. March saw more exports to advanced nations such as the United States and Japan, as well as to emerging economies in the Middle East and the ASEAN region. However, the ongoing financial crisis in Europe depressed outbound shipments to the European Union. In addition, exports to the Chinese market showed slow growth. Meanwhile, imports declined 1.2 percent from a year earlier to $45.0 billion. The average value of all imports per day increased 0.9 percent to $1.9 billion. Strong demand for major energy resources such as gas, petroleum products and coal pushed inbound shipments of raw materials up 3.5 percent year on year. Imports of capital goods and consumer goods gained 2.1 percent and 5.6 percent, respectively. Inbound shipments from the United States and the Middle East increased. date2012-04-05