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Korea, Malaysia discuss bilateral and multilateral trade and economic issues
The Ministry of Trade, Industry and Energy announced on April 14 that the Ministry held a trade meeting with Malaysia’s International Trade and Industry Minister Dato’ Sri Mustapa Mohamed in Lotte Hotel in Seoul to discuss bilateral and multilateral trade issues. At the meeting, Korea’s Trade, Industry and Energy Minister Joo Hyunghwan underscored the importance of joint efforts of the two countries to boost trade and investment. To that end, Minister Joo and his counte date2017-04-14
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Korea’s ICT exports rise 15.8% in March
The Ministry of Trade, Industry and Energy announced on April 12 that exports of information and communication technology (ICT) products rose 15.8 percent to $16.2 billion in March from a year earlier due to strong sales of semiconductors and displays. March’s exports of ICT goods marked the third largest monthly amount in history and a double-digit growth for four consecutive months. Since November last year, ICT exports have advanced for five months in a row. ICT Imports increase date2017-04-12
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Korea steps up efforts to cope with trade issues from U.S., China
The Ministry of Trade, Industry and Energy announced on April 11 that it hosted the 8th trade committee meeting to respond to rising trade issues from the United States (U.S.) and China. Trade, Industry and Energy Vice Minister Woo Taehee presided the meeting with top officials attended from 20 ministries and agencies to discuss the ways to cope with trade issues concerning major trade partners such as the U.S. and China and expand the free trade agreement (FTA) networks to tap new markets. Vi date2017-04-11
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Korea, China, Japan hold 12th round of FTA talks in Japan
The Ministry of Trade, Industry and Energy announced on April 10 that top trade officials from Korea, China and Japan will seek the ways to make progress in the free trade negotiations for the 12th round of Korea, China, Japan FTA talks, which will be held in Tokyo, Japan, on April 10-13. The meeting will be attended by Deputy Minister for Trade Negotiations Lee Sang-jin of the Ministry of Trade, Industry and Energy, and his counterparts Wang Shouwen, China’s Vice Minister of Commerce, an date2017-04-10
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FDI rises 38.1% in 1st quarter
The Ministry of Trade, Industry and Energy announced on April 4 that foreign direct investment (FDI) arriving into Korea in the first quarter of this year jumped 38.1 percent year-on-year to $2.8 billion. The figure reflected that Asia’s fourth-largest economy has steadily grown despite lingering global economic uncertainties. New FDI committed in the first quarter contracted 9.2 percent year-on-year to $3.9 billion, which exceeded an average quarterly amount of $3.7 billion for the past date2017-04-04
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Korea’s exports jump 13.7% to 27-month high in March
The Ministry of Trade, Industry and Energy announced on April 1 that Korea’s exports rose by 13.7 percent to $48.9 billion from a year earlier with outbound shipments of semiconductors, general machinery, and cosmetics reaching record highs. Exports expanded year-on-year for five consecutive months for the first time in 63 months since December 2011 and at double-digit rates for three straight months for the first time in 66 months since September 2011. The amount of exports notch date2017-04-01
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Ministry launches ‘global networking series’ to bridge Korean tech suppliers and global firms
The Ministry of Trade, Industry and Energy announced on March 31 that the Ministry launched the “global networking series” to promote cooperation between Korean suppliers of electronic components and global companies for new opportunities created by industrial convergence in the Fourth Industrial Revolution. Jointly organized by the Ministry and Korea Electronics Technology Institute (KIET), the Global Networking Series aims to bridge domestic suppliers of semiconducto date2017-03-31
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Online retail sales increase 16.3% in February
The Ministry of Trade, Industry and Energy announced on March 30 that online retail sales jumped 16.3 percent in February from a year ago while overall retail sales remained almost unchanged due to the decline in in-store purchases. Sales of Korea’s 26 major retailers inched up 0.1 percent year-on-year in February as online sales, which account for 34 percent of the total retail sales, surged 16.3 percent and in-store revenues fell 6.6 percent. Web-based sales continued t date2017-03-30