Ministry of Trade, Industry and Energy

S.Korea's bio-health industry exports log best-ever first half in 2021

S.Korea's bio-health industry exports log best-ever first half in 2021 date2021-08-25

Auto exports edge down 2.9%, export value rises 12.3% in July

The Ministry of Trade, Industry and Energy announced on August 18 that Korea’s automobile output, domestic sales, and exports went down 13.9 percent, 9.6 percent, and 2.9 percent, respectively. However, in value terms, the export value increased 12.3 percent to $4.1 billion, posting double-digit growth for seven straight months. Declines in production and exports are attributable to a high base effect from last year’s expansion and fewer working days (down 2 days) this year. Vehic date2021-08-18

Korea’s ICT exports advance for 14 straight months, up 30.2% to $19.5 billion in July

The Ministry of Trade, Industry and Energy announced on August 12 that exports of Korea’s information and communications technology (ICT) goods increased 30.2 percent to USD 19.5 billion in July, posting growth for 14 consecutive months and hitting the record high export value for the month of July in history. Imports gained 14.9 percent to $11.3 billion, and the trade balance stood at a surplus of $8.2 billion. Exports of all major ICT goods recorded growth. Chip exports jumped 38.8 pe date2021-08-12

Korea announces plans to secure supply of rare metals

Korea announced, on August 5, measures to secure supply of rare metals, which are key materials used in major industries including future cars, secondary batteries, and low carbon energy. As part of the policy to strengthen competitiveness of materials, parts and equipment industries, the government aims to stabilize the supply chain of rare metals by increasing the stockpile, support rare metal firms with R&D and commercialization, and establish a cooperative system among private and public date2021-08-05

Korea’s exports in July grow 29.6% to $55.4 billion, hitting record high value

The Ministry of Trade, Industry and Energy announced on August 1 that the value of Korean goods shipped overseas in July grew 29.6 percent to USD 55.4 billion, hitting the record high monthly export value.   Imports jumped 38.2 percent to $53.7 billion, resulting in a trade surplus of $1.8 billion.   Exports exceeded the $50 billion mark for five straight months. It is also the first time in 10 years that exports increased more than 20 percent for four straight months. Daily export date2021-08-02

Korea’s retail sales in June gain 11.4%

The Ministry of Trade, Industry and Energy announced on July 27 that Korea’s overall retail sales in June increased 11.4 percent.   Both offline and online retailers experienced growth, up 4.8 percent and 19.6 percent, respectively.   The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, and four “super superm date2021-07-27

Korea’s auto industry sees advancement in production and exports in H1

The Ministry of Trade, Industry and Energy announced on July 15 that Korea’s automobile output and exports in the first six months of 2021 posted year-on-year increases of 11.5 percent and 27.9 percent, respectively. In particular, exports recorded double-digit growth (up 27.9 percent to 1,049,658 units) for the first time since the first half of 2012. In value terms, exports jumped 49.9 percent to $23.6 billion. Green car exports expanded 37.1 percent to 172,921 units, the highest numbe date2021-07-15

Exports of Korea’s ICT goods grow 29.1% to $19.3 billion in June

The Ministry of Trade, Industry and Energy announced on July 14 that exports of Korea’s information and communications technology (ICT) goods increased 29.1 percent to USD 19.3 billion in June, posting growth for 13 consecutive months and hitting the record high export value for the month of June in history. Imports went up 17.7 percent to $10.6 billion, and the trade balance stood at a surplus of $8.7 billion. Exports of chips, displays, and computers and peripherals recorded growth, bu date2021-07-14