-
Korea’s automobile industry sees decreases in October due to automotive chip shortage
The Ministry of Trade, Industry and Energy announced on November 18 that automobile output, domestic sales, and exports decreased 21.6 percent, 21.4 percent, and 18.1 percent, respectively, for the month of October. Despite the expectation that the global automotive chip shortage would ease in the third quarter, the supply from Southeast Asia was delayed, leading to cuts in production and exports. The number of vehicles produced by Korean carmakers in October lost 21.6 percent to 263,723 units date2021-11-18
-
Exports of Korea’s ICT goods expand for 17 consecutive months
The Ministry of Trade, Industry and Energy announced on November 11 that exports of Korea’s information and communications technology (ICT) products recorded growth for the 17th consecutive month in October, rising 21.5 percent to $19.9 billion. Imports gained 18.5 percent to $12.1 billion, and the trade balance stood at a surplus of $7.8 billion. Exports of all major ICT products advanced. Chip exports saw a year-on-year rise of 28.4 percent to $11.2 billion, ex date2021-11-11
-
Korea's IP trade balance in the black for the first time
date2021-11-10
-
Exports expand 24% to $55.6 billion in October
The Ministry of Trade, Industry and Energy announced on November 1 that Korea’s exports expanded 24.0 percent year-on-year to USD 55.6 billion. Imports jumped 37.8 percent to $53.9 billion and the trade balance recorded a surplus of $1.7 billion, remaining positive for 18 months. Exports in October marked the second highest value in history, and the cumulative exports for the first 10 months of 2021 exceeded those of the same period last year. Average daily exports totaled $2.6 billion, date2021-11-01
-
Korean retail industry sees 8.2% increase in sales in September
The Ministry of Trade, Industry and Energy announced on October 28 that Korea’s retail sales in September increased 8.2 percent. Both offline and online sales expanded, up 3.3 percent and 14.5 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 supermarket” (S date2021-10-28
-
Exports of green cars set new record in September
The Ministry of Trade, Industry and Energy announced on October 15 that outbound shipments of green cars from Korea set new records in the number of units shipped overseas (34,823 units), value ($1.0 billion) and share of total exports (23.8 percent). Automobile output, domestic sales, and exports decreased 33.0 percent, 29.7 percent, and 20.7 percent, respectively, for the month of September. The decline was attributable to global semiconductor shortages and four fewer working days com date2021-10-18
-
Computers, a must-have in the contactless work-from-home era
Computers, a must-have in the contactless work-from-home era date2021-10-14
-
Korea’s ICT exports hit new record in September
The Ministry of Trade, Industry and Energy announced on October 13 that outbound shipments of Korea’s information and communications technology (ICT) goods recorded the highest monthly value since the Ministry started compiling data in 1996, rising 21.1 percent to USD 21.3 billion in September. Imports increased 18.8 percent to $11.4 billion, and the trade balance stood at a surplus of $10.0 billion. Exports of all major ICT products posted double-digit growth, boosted by date2021-10-13