Ministry of Trade, Industry and Energy

Korea Announces Emissions Reduction Targets for 2013

In preparation for a cap and trade scheme starting in 2015, the Ministry of Knowledge  Economy has announced emissions reduction and energy consumption targets for 377 businesses in the power and industrial sectors for next year. After a thorough verification of the BAU levels submitted by the companies, targets were set in consideration of their possible impact on investment and job creation. The estimated emissions of the 377 companies in the industrial and power sectors for the next year amount to 570.6 million metric tonnes, accounting for 96.7 percent of Korea’s emissions. Under this plan, Korea aims to cut 17.2 million tonnes of carbon dioxide emissions or 3 percent of next year’s BAU levels, which is more than double that of this year. It is also expected to save 224.1 petajoules of energy in 2013. date2012-10-18

MKE Releases Car Sales Figures for September

MKE Releases Car Sales Figures for September The Ministry of Knowledge Economy has released its car sales figures for September. The nation’s car production declined 8.2 percent year on year to 343,458 vehicles due to partial labor strikes at major automobile makers. Due to concerns over the stagnant real economy and weaker consumer sentiment, the number of vehicles sold on the domestic market retreated 4.8 percent to 128,607 vehicles. Compared to the previous month, however, the pace of date2012-10-16

Parts and Materials Industry Trade Figures for First Nine Months of 2012

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Foreign Investment Figures for First Nine Months of 2012

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IT Trade Figures for September

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Korea, Myanmar Forge Stronger Industrial Ties

Korea, Myanmar Forge Stronger Industrial Ties Deputy Minister for International Affairs Moon Jaedo, led a Korean private-public joint delegation to Myanmar last week to host the Korea-Myanmar Industrial Cooperation Forum aimed at enhancing the two countries’ bilateral partnerships. At the forum in Yangon, participants from both nations found opportunities to develop closer ties in areas such as information technology and the textile and plant industries, and the Korean side received infor date2012-10-05

Trade Figures for September

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Korea Vows Better Environment for Foreign Investment

Vice Minister for Trade and Energy Cho Seok presided over the 3rd Foreign Investment Commission meeting on September 18 with the aim of promptly improving Korea’s business environment and infrastructure for foreign investment. At the meeting, the commission newly designated eight foreign investment zones tailored to meet the demands of major investors from Japan, the United States and the European Union. The new investment zones, which provide various incentives including tax benefits, are expected to create around 55,000 jobs directly and indirectly, and attract 2 trillion won in foreign investment. In addition, the commission decided to increase the level of financial support especially for leading global enterprises that cooperate closely in the R&D sector. Under the new measures introduced by the commission, the regional headquarters of multinational companies newly established in Korea will also be entitled to receive cash grants from the government. Meanwhile, in the coming months, the Ministry of Knowledge Economy plans to designate an industrial complex specializing in the parts and materials industry and hold investment forums in major Chinese cities including Shanghai, Guangzhou and Qingdao. * Released by the Foreign Investment Policy Division and the Foreign Investment Promotion Division date2012-09-27