Ministry of Trade, Industry and Energy

Korea, Israel hold 4th round of FTA negotiations in Jerusalem

The Ministry of Trade, Industry and Energy announced on April 18 that the fourth round of negotiations for the Korea-Israel Free Trade Agreement (FTA) will kick off in Jerusalem, Israel, on April 19. The negotiations for the proposed FTA, which will continue through April 30, are led by Korea’s Trade, Industry and Energy Director General for Trade Policy Yeo Han-koo and Foreign Trade Administration Director Rachel Hirshler of Israel’s Ministry of Economy and Industry. The Korean del date2017-04-18

Auto exports soar for two consecutive months in March

The Ministry of Trade, Industry and Energy announced on April 18 that automobile exports, in terms of value, rose for two straight months in March due to increased sales of eco-friendly and mid- and large-sized vehicles.  The total value of automobiles shipped overseas went up 4.1 percent to $4.1 billion year-on-year in March. Strong sales of eco-friendly and mid- and large-sized vehicles with higher unit prices led to boosting the total value of car exports although the number of overseas date2017-04-18

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

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

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

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

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

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