Ministry of Trade, Industry and Energy

IT Trade Figures for October

date2011-11-09

Korea Seeks Cooperation With 15 African Countries

High-level officials and business leaders from 15 African countries visited Korea last week to attend the fourth Korea-Africa Industry Cooperation Forum. It was a valuable opportunity to establish a network with potential partners in Korea and exchange information about projects in the energy, resources and construction sectors. African government officials showcased promising projects and presented economic cooperation plans in three separate sessions, each dealing with a different business area. Minister of Knowledge Economy Choi Joong-Kyung said in his opening remarks that Africa, with its abundant energy and mineral resources and a population of about 1 billion, would emerge as a superpower within the next decade just as China and India are now. Minister Choi also met separately with Ministers from Ghana, Zimbabwe, South Sudan, the Republic of the Congo and Niger to discuss cooperation in the energy, resources and construction sectors. The Minister also said Korea’s development experience and technology could help Africa strengthen its capacity for self-reliance in achieving sustainable economic development. * Released by the Middle East and Africa Division date2011-11-07

Trade Figures for October

The Ministry of Knowledge Economy has released its trade figures for October. The trade balance posted a $4.3 billion surplus, having remained in the black for 21 months in a row. date2011-11-03

Korea Takes an Active Role in Indonesia’s Economic Development

The task force hopes to develop practical strategies to promote cooperation on the master plan, as well as landmark projects that will symbolize the strong ties between Korea and Indonesia. Composed of government officials and business leaders representing both countries, it held its initial meeting in Indonesia five months ago. Following this second working-level meeting, Minister of Knowledge Economy Choi Joong-Kyung met separately with his Indonesian counterpart, Coordinating Minister for Economic Affairs Hatta Rajasa, to evaluate the outcome. Both Ministers expressed satisfaction with the working-level delegates’ efforts and reaffirmed the importance of bilateral economic cooperation. * Released by the Southeast Asia and Oceania Division; the Components and Materials Division; and the Oil, Gas and Mineral Resources Development Division date2011-11-02

Retail Sales Figures for September

date2011-10-20

Korea, U.S. Embark on Clean Energy Partnership

Minister of Knowledge Economy Choi Joong-Kyung recently traveled to the United States to accompany President Lee Myung-bak on a state visit. While there, Minister Choi met with U.S. Secretary of Energy Steven Chu and signed an Implementing Arrangement establishing a clean energy research and technology partnership between the two countries. The deal defines a framework for practical research and development cooperation, leveraging Korea’s technological competitiveness as well as the U.S. side’s worldrenowned expertise in the energy sector. Now that it is in place, Korea and the United States will promote joint R&D projects and exchange information, personnel and equipment. The scope of bilateral cooperation will include energy efficiency, renewable energy, smart grid technology, green transportation, carbon capture and storage, and energy storage systems. “With this ground-breaking Arrangement, Korea and the United States have launched a new era of economic and industrial partnerships,” said Minister Choi. * Released by the Americas Division and the Energy Technology Division date2011-10-20

Korea Sets Emissions Reduction Targets for Businesses

* Released by the Energy Efficiency Policy Division date2011-10-13

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. Thanks to strong production, domestic sales and exports, the Korean automobile market maintained positive growth.     Consistent growth of domestic sales and solid outbound shipments led to a 10.3 percent year-on-year increase in production to 374,014 vehicles. Sales of imported cars jumped 25.3 percent and domestic car sales climbed 3.8 percent due to gr date2011-10-12