Ministry of Trade, Industry and Energy

Korea’s August exports of ICT products rise for 3rd consecutive month, up 0.3% to $15.2 billion

The Ministry of Trade, Industry and Energy announced on September 15 that Korean information and communications technology (ICT) exports posted a year-on-year growth of 0.3 percent to USD 15.2 billion. Imports also rose 4.3 percent to $9.2 billion, and the trade balance stood at a surplus of $6.1 billion. By item, outbound shipments of semiconductors, computers and peripherals went up, while those of displays and mobile phones went down. Chip exports increased 2.6 percent to $8.3 billion. Mem date2020-09-15

Korea’s exports in August fall 9.9 percent to $39.7 billion

The Ministry of Trade, Industry and Energy announced on September 1 that Korea’s exports in August decreased 9.9 percent to USD 39.7 billion. Imports fell 16.3 percent to $35.5 billion, resulting in a trade surplus of $4.1 billion. The August exports recorded a single-digit decline for the second consecutive month despite fewer working days (down 1.5 days). Daily exports went down only 3.8 percent, showing the smallest decline since the outbreak of COVID-19. Four out of 15 major export i date2020-09-01

Korea’s retail sales increase 4.4% in July

The Ministry of Trade, Industry and Energy announced on August 28 that Korea’s overall retail sales in July saw a year-on-year growth of 4.4 percent. Sales of offline retailers edged down 2.1 percent, and those of online retailers went up 13.4 percent. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four SSM o date2020-08-31

Korea's auto export decline eases in July, domestic sales increase for 6 straight months

The Ministry of Trade, Industry and Energy announced on August 17 that Korea’s automobile output and exports in July decreased 3.8 percent and 11.7 percent, respectively. Meanwhile, domestic sales went up 8.9 percent, increasing for the 6th consecutive month. The number of vehicles produced by Korean automakers went down 3.8 percent to 345,711 units. The decrease was mainly attributable to a slowdown in overseas demand, but the decline eased due to rising domestic sales and export recover date2020-08-18

Korea’s ICT exports in July advance 3.3% to $15.0 billion

The Ministry of Trade, Industry and Energy announced on August 13 that Korean information and communications technology (ICT) industry’s export growth in July posted a year-on-year growth of 3.3 percent to USD 15.0 billion. Imports inched up 1.2 percent to $9.9 billion, and the trade balance stood at a surplus of $5.1 billion. By item, shipments of semiconductors, mobile phones, computers and peripherals saw growth while those of displays saw a decline. Outbound shipments of semiconduct date2020-08-13

Korea’s export decline eases in July, exports down 7% to $42.8 billion

The Ministry of Trade, Industry and Energy announced on August 1 that Korea’s exports in July decreased 7.0 percent to USD 42.8 billion. Imports fell 11.9 percent to $38.6 billion, resulting in a trade surplus of $4.3 billion. The July exports recorded the first single-digit decline since the COVID-19 pandemic had a full-fledged impact on exports in April. Also, the export value hit $40 billion in four months, and the trade balance remained positive for the third consecutive month since&n date2020-08-03

Korea’s retail sales in June grow 4.6%

The Ministry of Trade, Industry and Energy announced on July 30 that Korea’s overall retail sales in June saw a year-on-year growth of 4.6 percent. Sales of offline retailers edged down 3.0 percent, and those of online retailers expanded 15.9 percent. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four SSM op date2020-07-30

Foreign direct investment pledged to Korea reach $7.7 billion in H1

The Ministry of Trade, Industry and Energy announced on July 15 that foreign direct investment (FDI) pledged to Korea in the first half of the year fell 22.4 percent year-on-year to USD 7.7 billion. The FDI that actually arrived in Korea over the same period decreased 23.9 percent to $4.7 billion.Restrictions on the cross-border movement and rising uncertainties due to COVID-19 led to the decline in FDI. However, investment pledges to several industries such as materials, parts and equipment, hi date2020-07-15