Ministry of Trade, Industry and Energy

[Press Release] Korea, MERCOSUR launch trade talks

Korea, MERCOSUR begin trade negotiationsMinistry of Trade, Industry and EnergyMay 25, 2018  Seoul, Korea - His Excellency, Trade Minister of the Republic of Korea Kim Hyun-chong, met with His Excellencies, Eladio Loizaga for Paraguay, in charge of the Pro Temporary Presidency, Aloysio Nunes Ferreira Filho for Brazil and Rodolfo Nin Novoa for Uruguay, Foreign Ministers of the MERCOSUR Member States, the Minister of Industry, Foreign Trade and Services of the Federative Republic of Brazi date2018-05-25

Korean auto part exports, EV sales grow in April

The Ministry of Trade, Industry and Energy announced on May 17 that exports of Korean automobile parts rose 6.6 percent year-on-year to USD 2.0 billion in April, thanks to a recovery in the Chinese market and to export growth in emerging economies.   A breakdown of auto part exports showed that outbound shipments to all major regions except North America increased. Nevertheless, North America remained as the biggest importer, purchasing $670 million worth of Korean auto parts.   Ho date2018-05-17

ICT exports post $17.2 billion in April

The Ministry of Trade, Industry and Energy announced on May 16 that Korea’s exports of information and communications technology (ICT) in April were worth USD 17.2 billion.   Also, exports of tech goods in April 2018 grew 10.9 percent year-on-year, continuing double-digit growth for 17 consecutive months now.    Imports in April rose 10 percent to $8.7 billion, with most of the growth coming in semiconductors and computers and peripheral devices.   Korea's trade s date2018-05-16

Korea’s outbound shipments inch down 1.5% in April

The Ministry of Trade, Industry and Energy announced on May 1 that Korea’s exports in April inched down 1.5 percent year-on-year to USD 50.1 billion. Nevertheless, with the last month’s exports posting $51.6 billion, this was the first time for Korean exports to surpass $50 billion for two straight months.Since exports excluding ships were up 10.4 percent to $48.3 billion, the slight contraction in overall outbound shipments is largely attributable to a base effect that resulted from date2018-05-01

Online retail sales grow at double-digit rate in March

The Ministry of Trade, Industry and Energy announced on April 27 that online retail sales in March expanded 17.0 percent from a year earlier.Sales of brick-and-mortar retailers also advanced 5.4 percent year-on-year. This increase came from every type of in-store retailers, from convenience stores to hypermarkets.Thanks to the strong performances from both online and in-store retailers, overall retail sales in March saw a growth of 9.4 percent.The Ministry of Trade, Industry and Energy estimates date2018-04-27

Trade surplus in industrial materials, components exports set record $30.8 billion in Q1

The Ministry of Trade, Industry and Energy announced on April 19 that trade surplus in industrial materials and components in the first quarter of 2018 set a record USD 30.8 billion.Exports of 11 types of materials and components rose 13.3 percent year-on-year to $74.4 billion, the second highest value of all-time. Exports of both materials and components achieved double-digit growths of 14.0 percent and 13.0 percent, respectively.Imports in this sector grew to $43.6 billion, up 8.2 percent from date2018-04-19

ICT exports post second highest record of $19.1 billion in March

The Ministry of Trade, Industry and Energy announced on April 18 that exports of information and communication technology (ICT) goods posted the second highest monthly record of USD 19.1 billion in March.Exports of ICT goods were up 18.6 percent from a year earlier, achieving double-digit year-on-year growth for the 16th consecutive month since December 2016.ICT imports also rose 4.5 percent year-on-year to $9.1 billion, and the trade surplus in this sector stood at $10.1 billion.The double-digi date2018-04-18

Korea’s automobile industry sees decline in March

The Ministry of Trade, Industry and Energy announced on April 12 that Korea’s automobile industry saw year-on-year decreases in exports, production, and domestic sales in March.Automobile exports decreased 10.3 percent year-on-year to 223,855 vehicles. In terms of value, they shrank 8.6 percent to USD 3.8 billion. This decrease is attributable to expectations for release of new models in late spring and inventory adjustment at Korean automakers’ overseas plants. Exports of eco-friend date2018-04-12