Ministry of Trade, Industry and Energy

MKE Releases Car Sales Figures for July

MKE Releases Car Sales Figures for July The Ministry of Knowledge Economy has released its car sales figures for July. Korea produced 391,607 vehicles, an increase of 3.7 percent from a year ago. Improved quality has raised the global profile of Korea’s automakers and most of the major companies enjoyed an upswing in production thanks to strong domestic demand and robust exports. The growing popularity of small cars was an additional factor. Increased sales of fuel-efficient models and f date2011-08-05

Trade Figures for July

Exports climbed 27.3 percent year on year to reach $51.4 billion, surpassing the previous record of $48.6 billion which was set in April. The average value of all exports per day gained 32.7 percent to record $2.19 billion. With outbound shipments of petroleum products and steel shooting up 89.2 percent and 72.5 percent, respectively, July was a good month for most key export items. Outbound shipments to major trading partners for the first 20 days of July increased, the European Union being the only exception. Exports of petroleum products to China rose 121.7 percent, while outbound shipments of wireless communications devices to Japan surged 154.1 percent. Exports of petrochemicals to China and the United States went up 51.2 percent and 62.8 percent, respectively. Ship exports to China and the European Union declined, but export figures for the United States and ASEAN made up for it with increases of 34.3 percent and 110.7 percent, respectively. date2011-08-02

Minister Welcomes Australian Energy Minister

date2011-08-02

Minister Greets MIT Media Professor

Minister Greets MIT Media Professor Minister of Knowledge Economy Choi Joong-Kyung speaks with Professor Nicholas Negroponte of the Massachusetts Institute of Technology on July 26 in Gwacheon, a Seoul suburb. The discussion focused on partnerships with MIT’s media lab and cooperation on industrial resources. date2011-08-02

Exhibition Showcases Korea’s Amazing Robots

Minister of Knowledge Economy Choi Joong-Kyung paid a visit to the Gwacheon National Science Museum in suburban Seoul last week to mark the opening of a permanent robot exhibition. Visitors can experience robots in action and glimpse the future world that will soon be reality thanks to advances in robotics. A 495-square-meter, robot-shaped exhibition hall within the museum showcases 21 kinds of robots: humanoid robots, robotic fish, robots designed for disaster operations, household robots, educational robots and more. Performing robots entertain visitors with singing, dancing and martial arts. to view a robot tae kwon do demonstration. The public can view the exhibition six days a week from 1:30 p.m. to 3 p.m. but can also reserve tickets for other times; tickets are available both online (www.scientorium.go.kr) and from a robot at the entrance. The hall can accommodate up to 30 people and 30-minute visits can be scheduled every hour on the hour. Music, dance and tae kwon do performances run every hour on the half hour and last 20 minutes. No reservations are necessary to view performances. As Korea’s robotics industry grows stronger, the Ministry of Knowledge Economy is considering whether to establish similar exhibitions in different locations in 2012. * For pictures of the exhibition, please see the attached file. * Released by the Robot Division date2011-07-27

Wind Farm Ushers In a New Era of Clean Energy

The new pilot wind farm sits on previously unused land within a thermal power plant site; the government chose the site with a view to prompt construction and more efficient operation of the turbines. Its goal is to establish a good track record for Korea’s budding wind power industry, which by 2015 is expected to become one of the country’s flagship industries along with semiconductors and shipbuilding. The government plans to build more turbines at Yeongheung to generate an additional 30 megawatts. It also plans to build more wind farms. Korea’s national plan for the development of the renewable energy industry, announced in October 2010, includes 10 projects to promote the wider dissemination of renewable energy equipment such as solar panels and wind turbines. The “Green Power” project will see renewable energy facilities installed within existing power companies and power stations. The global wind power industry has displayed steady growth, posting impressive annual rates of 20 to 30 percent. * Released by the New and Renewable Energy Division date2011-07-25

Minister Visits Traditional Market

Minister of Knowledge Economy Choi Joong-Kyung talks with an eatery owner on July 14 at a traditional market in Anyang, south of Seoul. Minister Choi promised to lead a nationwide effort to boost domestic demand. date2011-07-21

Bright Future Ahead for Korea’s Robot Industry

Minister of Knowledge Economy Choi Joong-Kyung (right, front row) poses with a group of students on July 19 at Seoul Robot High School. Minister Choi spoke with teachers and students and observed the students’ robots. date2011-07-21

Parts and Materials Industry Trade Figures for First Half of 2011

    date2011-07-21

Foreign Investment Figures for First Half of 2011

Foreign direct investment (FDI) in the manufacturing sector grew 11.8 percent to $2.23 billion, while FDI in the service sector fell 16.8 percent to $2.65 billion. Notably, investments in nonmetallic minerals and culture and entertainment shot up 10,500 percent and 6,766.7 percent, respectively. date2011-07-19