Ministry of Trade, Industry and Energy

New Minister Takes Office

New Minister Takes Office Minister of Knowledge Economy Sukwoo HONG speaks at his swearing-in ceremony on November 17 in the Gwacheon Government Complex. date2011-11-22

Retail Sales Figures for October

date2011-11-18

Korea Shares Development Experience With Emerging Countries

Korea Shares Development Experience With Emerging Countries The Ministry of Knowledge Economy (MKE) launched a new program last week that will vitalize Korea’s efforts to share its development experience with emerging economies. Under the new program, MKE established a forum, which serves as a consulting body, consisting of experts from government-supported research institutions, public enterprises such as the Korea Electric Power Corporation (KEPCO), and private consulting firms. The for date2011-11-16

Korea Opens Global Research Center For New and Renewable Energy

Vice Minister for Trade and Energy Kim Junggwan cuts the ribbon at a ceremony to mark the opening of the Jeju Global Research Center on November 14. The new center will focus on new and renewable energy convergence technology. date2011-11-16

MKE Releases Car Sales Figures for October

MKE Releases Car Sales Figures for October The Ministry of Knowledge Economy has released its car sales figures for October. Thanks to steady exports Korea produced 414,574 vehicles, a 7.1 percent year-on-year increase. This was achieved despite unfavorable consumer sentiment and rising oil prices, which depressed domestic sales 8.8 percent to 121,564 vehicles. Sales of imported cars continued to grow, albeit at a slower pace of 8.9 percent year on year to 8,234 vehicles. Even amid uncertainty date2011-11-14

Minister speaks at Tech Plus 2011

Minister of Knowledge Economy Choi Joong-Kyung speaks at “Tech Plus 2011” on November 9 in Seoul. The annual industrial technology forum, called a “knowledge concert,” drew 3,000 participants and highlighted Korea’s role as a designer of industries. date2011-11-14

IT Trade Figures for October

date2011-11-09

Korea Seeks Cooperation With 15 African Countries

High-level officials and business leaders from 15 African countries visited Korea last week to attend the fourth Korea-Africa Industry Cooperation Forum. It was a valuable opportunity to establish a network with potential partners in Korea and exchange information about projects in the energy, resources and construction sectors. African government officials showcased promising projects and presented economic cooperation plans in three separate sessions, each dealing with a different business area. Minister of Knowledge Economy Choi Joong-Kyung said in his opening remarks that Africa, with its abundant energy and mineral resources and a population of about 1 billion, would emerge as a superpower within the next decade just as China and India are now. Minister Choi also met separately with Ministers from Ghana, Zimbabwe, South Sudan, the Republic of the Congo and Niger to discuss cooperation in the energy, resources and construction sectors. The Minister also said Korea’s development experience and technology could help Africa strengthen its capacity for self-reliance in achieving sustainable economic development. * Released by the Middle East and Africa Division date2011-11-07

Trade Figures for October

The Ministry of Knowledge Economy has released its trade figures for October. The trade balance posted a $4.3 billion surplus, having remained in the black for 21 months in a row. date2011-11-03

Korea Takes an Active Role in Indonesia’s Economic Development

The task force hopes to develop practical strategies to promote cooperation on the master plan, as well as landmark projects that will symbolize the strong ties between Korea and Indonesia. Composed of government officials and business leaders representing both countries, it held its initial meeting in Indonesia five months ago. Following this second working-level meeting, Minister of Knowledge Economy Choi Joong-Kyung met separately with his Indonesian counterpart, Coordinating Minister for Economic Affairs Hatta Rajasa, to evaluate the outcome. Both Ministers expressed satisfaction with the working-level delegates’ efforts and reaffirmed the importance of bilateral economic cooperation. * Released by the Southeast Asia and Oceania Division; the Components and Materials Division; and the Oil, Gas and Mineral Resources Development Division date2011-11-02