Ministry of Trade, Industry and Energy

Korea, Latin America Mark 50th Anniversary of Diplomatic Ties

Vice Minister for Energy and Trade Cho Seok (fourth from right, front row) attends the opening ceremony of the Korea-Latin America Economic Cooperation Week on September 24 in Seoul and gave opening remarks. The event was held to commemorate the 50th anniversary of the establishment of diplomatic relations between Korea and 15 Latin American countries. date2012-10-04

Korea, Philippines Discuss Economic Ties

Minister of Knowledge Economy Sukwoo HONG greets his Filipino counterpart Secretary of the Department of Trade and Industry Gregory Domingo on September 20 in Seoul. The two officials shared views on enhancing bilateral trade and investment relations and establishing an economic cooperation channel. date2012-10-02

Minister Addresses LNG Producer-Consumer Conference

Minister of Knowledge Economy Sukwoo HONG speaks at the LNG Producer-Consumer Conference on September 19 in Tokyo. Senior government officials and business leaders from LNG producing and consuming nations participated in the conference to seek closer cooperation in maintaining the stability of the energy market. date2012-09-27

Korea Vows Better Environment for Foreign Investment

Vice Minister for Trade and Energy Cho Seok presided over the 3rd Foreign Investment Commission meeting on September 18 with the aim of promptly improving Korea’s business environment and infrastructure for foreign investment. At the meeting, the commission newly designated eight foreign investment zones tailored to meet the demands of major investors from Japan, the United States and the European Union. The new investment zones, which provide various incentives including tax benefits, are expected to create around 55,000 jobs directly and indirectly, and attract 2 trillion won in foreign investment. In addition, the commission decided to increase the level of financial support especially for leading global enterprises that cooperate closely in the R&D sector. Under the new measures introduced by the commission, the regional headquarters of multinational companies newly established in Korea will also be entitled to receive cash grants from the government. Meanwhile, in the coming months, the Ministry of Knowledge Economy plans to designate an industrial complex specializing in the parts and materials industry and hold investment forums in major Chinese cities including Shanghai, Guangzhou and Qingdao. * Released by the Foreign Investment Policy Division and the Foreign Investment Promotion Division date2012-09-27

Vice Minister Speaks At Global OECD Forum

Vice Minister Speaks At Global OECD Forum Vice Minister for Industry and Technology Yoon Sang-Jick addresses the 2012 OECD Global Forum on the Knowledge Economy on September 18 in Seoul. Under the theme of “Towards a Strong, Green and Inclusive Growth Path,” the forum drew in more than 400 participants from Korea and abroad. date2012-09-26

Retail Sales Figures for August

date2012-09-18

IT Trade Figures for August

date2012-09-17

Korea, U.S. Strengthen Investment Ties

Korea, U.S. Strengthen Investment Ties date2012-09-14

MKE Releases Car Sales Figures for August

MKE Releases Car Sales Figures for August The Ministry of Knowledge Economy has released its car sales figures for August. The nation’s car production fell 25.9 percent year on year to 237,477 vehicles due to partial strikes at major automobile makers. Concerns over the economic slowdown coupled with weaker consumer sentiment drove the number of vehicles sold on the domestic market down 21.9 percent to 96,648 vehicles. However, sales of hybrid vehicles for the first eight months of this y date2012-09-11

Korea, Canada’s British Columbia Enhance Energy Ties

Vice Minister for Trade and Energy Cho Seok and his Canadian counterpart Deputy Minister of the Ministry of Energy and Mines Steve Carr shake hands after signing the memorandum of understanding on August 28 in Vancouver, Canada. The deal will strengthen bilateral cooperation on energy resources development. date2012-09-06