Ministry of Trade, Industry and Energy

MKE Releases Car Sales Figures for February

MKE Releases Car Sales Figures for February The Ministry of Knowledge Economy has released its car sales figures for February. As the Lunar New Year holiday fell in February this year, resulting in fewer working days, Korea’s car production contracted 19.8 percent year on year to 338,278 vehicles. The holiday and weaker local demand hurt sales of domestic cars, but strong sales of German brands helped sales of imported cars rise 14.8 percent to 10,556 vehicles. Meanwhile, a contraction in date2013-03-12

New Minister Takes Office

Incoming Minster of Trade, Industry and Energy Yoon Sang-jick speaks at an inaugural ceremony on March 11 in the Gwacheon Government Complex. date2013-03-12

IT Trade Figures for February

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Trade Figures for February

Exports fell 8.6 percent year on year to $42.3 billion, but the average value of total exports per day rose 2.5 percent to $2.1 billion. While outbound shipments of wireless communications devices and petrochemicals posted robust performances, exports of ships and steel remained sluggish. The double-digit growth in wireless communications devices was thanks to the rapidly expanding global Long Term Evolution (LTE) market and growing sales of major smartphone models. Exports of ships and steel continued to decline amid generally downward trends in major trading partners. With the exception of the ASEAN region, most key trading partners showed negative growth. date2013-03-04

Retail Sales Figures for January

Sales at the nation’s major department stores fell 8.2 percent from a year earlier due to the late arrival of the Lunar New Year holiday and the economic slowdown. With the exception of children’s goods and sporting goods and household goods, spending on most categories showed negative growth. Sales of household goods gained thanks to a low base effect from the previous year and major household appliance makers’ heavy marketing of new models. date2013-02-21

Vice Minister Speaks at IETF 2013

Vice Minister Speaks at IETF 2013 Vice Minister for Trade and Energy Cho Seok attended the 20th International Engineering and Technology Fair in New Delhi on February 15. In his opening remarks, the Vice Minister said he hoped the event would help enhance political, economic and cultural ties between Korea and India. date2013-02-21

MKE Releases Car Sales Figures for January

MKE Releases Car Sales Figures for January The Ministry of Knowledge Economy has released its car sales figures for January. Despite the global economic slowdown, automobile production and exports recorded their highest-ever figures for January thanks to an increase in the number of working days. The nation produced 410,602 vehicles and exported 288,344 vehicles for the month. Due to a low base effect from a year earlier and the extra working days, domestic sales rose 10.3 percent year on year date2013-02-13

Korea, Peru Discuss Bilateral Ties

Korea, Peru Discuss Bilateral Ties Vice Minister for Energy and Trade Cho Seok met with his Peruvian counterpart, Deputy Minister for SME and Industry Magali Silva Velarde-Álvarez on February 7 at the Gwacheon Government Complex. The two officials agreed to enhance ties in the energy and resources sector and expand the scope of cooperation to areas such as plant construction, automobiles, shipbuilding, IT and textiles. date2013-02-12

IT Trade Figures for January

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Minister Speaks At the Partnership Summit 2013

Minister Speaks At the Partnership Summit 2013 Minister of Knowledge Economy Sukwoo HONG (third from left) spoke at the Partnership Summit 2013 on January 28 in India. Through his keynote speech, the Minister emphasized the importance of international coordination in sustaining growth with emerging economies. date2013-02-08