Ministry of Trade, Industry and Energy

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

Parts and Materials Industry Trade Figures for the First Quarter

Despite unfavorable economic conditions, including a weaker Japanese yen, exports in the parts and materials industry grew by a brisk 5.2 percent year on year. The recovery was led by solid performances in electronic components, electrical machine parts and transportation machine parts. Exports of nonmetallic minerals were boosted by strong demand from LCD panel manufacturers. Due to weaker demand in the global market, outbound shipments fell in basic metals, rubber and plastic materials and textiles. With most trading partners, the nation’s trade balance maintained a surplus. date2013-04-16

Minister Greets KEIA President

Minister Greets KEIA President Minister of Trade, Industry and Energy Yoon Sang-jick met with the President of the Korea Economic Institute of America, Donald Manzullo on April 12 in Seoul. The two officials exchanged views on the role of KEIA and key policies of the new administration. date2013-04-16

Foreign Investment Figures for First Quarter

date2013-04-12

IT Trade Figures for March

date2013-04-11

Vice Minister Speaks with World Bank’s Vice President

Vice Minister Speaks with World Bank’s Vice President Vice Minister for Industry and Technology Kim Jae-hong met with the Vice President of World Bank, Janamitra Devan, on April 2 at the Gwacheon Government Complex. The two officials discussed how to share Korea’s industrial development experience with emerging economies, including that of industrial clusters and free economic zones. date2013-04-10

MOTIE Releases Car Sales Figures for March

MOTIE Releases Car Sales Figures for March The Ministry of Trade, Industry and Energy has released its car sales figures for March. Korea’s car production fell 13.1 percent year on year to 365,768 vehicles due to fewer working days and reduced working hours. Thanks to the introduction of new models and solid performances from imported cars, 131,136 vehicles were sold on the domestic market, about the same as the previous year. Despite greater brand awareness of Korean auto makers overseas date2013-04-09

Minister Tours Jeju Global Research Center

date2013-04-09