Ministry of Trade, Industry and Energy

Korea’s auto output, exports in May see year-on-year increases

The Ministry of Trade, Industry and Energy announced on June 13 that the Korea’s automobile production increased 4.1 percent to 366,152 vehicles in May compared to the same period last year.This growth in output was mostly attributable to higher overseas demand and more working days. The local car manufacturers are Hyundai Motor, Kia Motors, GM Korea, Ssangyong Motor, Renault Samsung Motors, Zyle Daewoo Bus, and Tata Daewoo.Exports also improved 6.1 percent year-on-year to 226,096 vehicles date2019-06-13

Korea’s May exports decrease 9.4% to $45.9 billion

The Ministry of Trade, Industry and Energy announced on June 1 that Korea’s exports in May decreased 9.4 percent to USD 45.9 billion compared to the same period a year earlier. Imports fell 1.9 percent to $43.6 billion, resulting in a trade surplus of $2.3 billion.The slowdown in exports was mostly due to an intensifying U.S.-China trade dispute, a sluggish semiconductor industry, and a slowing Chinese economy. Exports in volume terms, however, inched up 0.7 percent, continuing to grow for date2019-06-01

Online retail sales jump 14.1 percent in April

The Ministry of Trade, Industry and Energy announced on May 30 that sales of Korea’s online retail industry improved 14.1 percent in April compared to the same period last year. Offline retailers, on the other hand, saw a 2.9 percent decrease in sales, resulting in a 3.5 percent growth in overall retail sales.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 hypermarke date2019-05-30

Exports of Korean ICT goods total $15.2 billion in April

The Ministry of Trade, Industry and Energy announced on May 21 that exports of the Korean information and communications technology (ICT) goods in April totaled USD 15.2 billion, down 10.6 percent compared to a year earlier.Imports grew 9.4 percent to $9.5 billion, and the trade balance stood at a surplus of $5.7 billion.Exports experienced year-on-year declines for six straight months because of a continuous slowdown in semiconductors and displays.By item, shipments of semiconductors, displays, date2019-05-21

Korean auto industry sees improvement in exports, production in April

The Ministry of Trade, Industry and Energy announced on May 16 that the Korean auto industry exported 223,235 vehicles in April, up 3 percent from a year earlier.The improvement in exports was largely due to robust sales of sport utility vehicles (SUVs) and eco-friendly vehicles in North America and Europe. In terms of value, exports grew 5.8 percent year-on-year to USD 3.8 billion.Outbound shipments of green cars were particularly strong as they amounted to 20,281 units. This 39.3 percent year- date2019-05-16

Korea’s exports in April fall 2 percent to $48.9 billion

The Ministry of Trade, Industry and Energy announced on May 1 that Korea’s exports in April fell 2 percent to USD 48.9 billion compared to the same period a year earlier. Imports expanded 2.4 percent to $44.7 billion, resulting in a trade surplus of $4.1 billion.The decrease in exports was in part due to falling prices of semiconductors and petrochemicals as well as a slowing Chinese economy. Other external factors such as the ongoing U.S.-China trade dispute and stagnant world trade date2019-05-01

Sales of Korean retail industry grow 7.6 percent in March

The Ministry of Trade, Industry and Energy announced on April 28 that Korea’s online and offline retailers saw a year-on-year sales increase of 7.6 percent in March. Brick-and-mortar stores experienced a sales growth of 1.3 percent, and sales at online retailers grew by 18.2 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 date2019-04-28

Exports of ICT goods in March reach $15.9 billion

The Ministry of Trade, Industry and Energy announced on April 22 that Korean exports of information and communications technology (ICT) goods in March decreased 16.3 percent year-on-year to USD 15.9 billion.Imports inched up 1.4 percent to $9.2 billion, and the trade balance stood at a surplus of $6.7 billion.The fifth consecutive monthly decline in exports was mainly due to slowing sales of semiconductors, displays, mobile phones.By item, shipments of semiconductors, displays, mobile phones, an date2019-04-22