Ministry of Trade, Industry and Energy

Trade Figures for First Half of 2012

date2012-07-04

Korea to Hold Nationwide Blackout Drill

The Ministry of Knowledge Economy conducted its first-ever nationwide blackout drill on June 21 to test Korea’s emergency response capabilities in the event of a summer power outage. The 20-minute drill started at 2 p.m., the time of day when demand for electricity is at its peak. MKE asked citizens to participate voluntarily in the exercise to support the nation’s energy conservation efforts. The Ministry publicized guidelines on its website and social networking sites, as well as in television and radio public service announcements. Households and office buildings were encouraged to turn off unnecessary lights and unplug small appliances and office equipment. Shopping centers and retailers joined the effort by setting air conditioners to higher temperatures and by shutting off automatic doors and air curtains. Industrial complexes adjusted their hours of operation and used their emergency power generators. Schools and other public institutions turned off the power except for essential safety equipment. During the drill, 28 pre-selected buildings in seven major cities turned off the electricity for 10 minutes to check their readiness for a power outage. Emergency response exercises were carried out at another 33 locations to determine how well subway stations, hospitals and elevator emergency crews could cope with a sudden blackout. After evaluating the outcome of the exercise, the Ministry will map out a comprehensive response plan in collaboration with other government bodies. * Released by the Electric Power Division date2012-06-25

Korea, Saudi Arabia Discuss Trade and Investment

Korea, Saudi Arabia Discuss Trade and Investment Vice Minister for Trade and Energy Cho Seok greets Saudi Arabian Deputy Minister of Foreign Affairs for Economic and Cultural Affairs Yousef Al-Saadon on June 18 in the Gwacheon Government Complex. The discussion touched on trade and investment ties and the Knowledge Sharing Program. date2012-06-22

Korea, Germany Discuss Energy and the Economy

Korea, Germany Discuss Energy and the Economy Vice Minister for Trade and Energy Cho Seok meets with Parliamentary State Secretary Hans-Joachim Otto, representing Germany’s Federal Ministry of Economics and Technology, on June 14 in Seoul. The two officials discussed the current economic situation and bilateral energy ties. date2012-06-20

Minister Meets With Saudi Arabian Counterpart

Minister of Knowledge Economy Sukwoo HONG meets with his Saudi Arabian counterpart, Minister of Economy and Planning Muhammad Al Jasser, on June 14 in Seoul. The two ministers discussed how to diversify bilateral industrial ties and build bridges between SMEs in both nations. date2012-06-20

Retail Sales Figures for May

date2012-06-20

Minister Visits Jeju Smart Grid Test Bed

Minister of Knowledge Economy Sukwoo HONG listens to a guide speak at the Jeju Smart Grid Test Bed PR Center on June 2. The center’s purpose is to promote Korea’s smart grid industry both in Korea and internationally. The Minister also test-drove an electric vehicle and used a charging station. date2012-06-13

Minister Attends Global Green Hub Korea 2012

Minister Attends Global Green Hub Korea 2012 Minister of Knowledge Economy Sukwoo HONG (second from left) looks at an item on display at Global Green Hub Korea 2012 on June 4 in Seoul. The event, which showcased new products that use green technology, drew about 300 participants. date2012-06-13

Vice Minister Speaks at Global R&D Forum

date2012-06-13

MKE Releases Car Sales Figures for May

MKE Releases Car Sales Figures for May The Ministry of Knowledge Economy has released its car sales figures for May. Thanks to an upswing in exports and improved domestic demand, Korea’s car production figures rose 3.8 percent year on year to 403,593 vehicles. Outbound shipments gained 3.0 percent on the back of stronger demand from the United States. However, growing uncertainties in the global economy slowed this growth. While exports to the North American market maintained positive gr date2012-06-13