Ministry of Trade Industry and Resources

Korea’s Retail Industry Grows 9.2% in March

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) announced today that Korea’s retail industry climbed 9.2 percent year-on-year in March 2025, with offline sales falling 0.2 percent and online sales advancing 19.0 percent. MOTIE's monthly retail sales figures are based on surveys of 23 major retailers: 13 brick-and-mortar retailers, comprising three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSMs) chains. The remaining 10 are online retailers. A decline in consumer sentiment affected offline categories such as fashion and home appliances, with sales declining at hypermarkets (down 0.2 percent) and department stores (down 2.1 percent). Sales increased at convenience stores (up 1.4 percent) and SSMs (up 3.6 percent), reflecting their convenience in shopping locally for small purchases. Except food products (up 3.4 percent), hypermarkets slowed in most sales categories, including home appliances/culture (down 20.2 percent), clothing (down 5.7 percent), and home/living (down 3.7 percent). Department stores also posted declines in all categories except food (up 3.5 percent), with sales falling in foreign designer labels (down 2.7 percent), household goods (down 2.2 percent), miscellaneous goods (down 3.8 percent), and kids/sports (down 1.6 percent). Convenience stores and SSMs recorded growth across both food and non-food categories. Online retail sales surged 19.0 percent, the second-largest increase since April 2024 (up 19.5 percent). Growth was led by food products (up 19.4 percent) and service/other (up 78.3 percent) , driven by increased use of online delivery services and demand for food delivery and e-coupons. In contrast, fashion/clothing (down 4.7 percent) and sports (down 10.1 percent) continued to decline.   Meanwhile, back-to-school demand fueled sales for home appliances/consumer electronics (up 7.8 percent) for the second consecutive month. Cosmetic products (up 7.5 percent) also maintained growth on wider online demand. date2025-04-29

Minister Ahn visits Samsung Electronics R&D Center in Hanoi

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn visited Samsung Electronics R&D Center in Hanoi, Vietnam, on April 14 and received a briefing on business issues and toured major facilities, encouraging the employees. date2025-04-16

Korea’s auto exports log 2nd highest for March

The Ministry of Trade, Industry and Energy (MOTIE) of Korea announced today that automobile production (up 1.5 percent), domestic sales (up 2.4 percent), and export value (up 1.2 percent) for the month of March 2025 all advanced year-on-year for the second consecutive month. Notably, March automobile exports reached the second highest in history for the month at $6.2 billion. The export value for the first quarter (Q1) inched down 1.3 percent year-on-year, which is attributable to last year’s high base effect and this year’s lower number of working days (-3) compared to Q1 2024. Domestic sales rose 2.7 percent to 388,294 units during Q1 2025 as a result of a base effect from last year’s sluggish domestic demand. Q1 sales of eco-friendly vehicles soared over 20 percent to 169,013 units and the total automobile production volume (1,013,485 units) breached the one-million-unit mark for the third consecutive year, driven by strong domestic demand.   date2025-04-15

Korea’s ICT exports climb 9.4% in March

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) of Korea announced today that exports and imports of information and communications technology (ICT) goods for March 2025 rose 9.4 percent and 6.8 percent year-on-year, respectively, to USD 20.6 billion and $12.2 billion. The trade balance stood at a surplus of $8.4 billion. Compared to February, the month of March saw exports and trade surplus soar steeply, each advancing 24 percent and 48 percent month-on-month. It is also significant to note that exports of major ICT items gained simultaneously for the first time in eight months. Leading items like semiconductors (up 11.8 percent year-on-year), displays (up 1.3 percent), mobile phones (up 14.5 percent), and computers/peripherals (up 28.1 percent) all achieved growth, whereas communication devices (down 0.4 percent) slowed. The rebound of semiconductors is attributed to buyers’ depleting memory chip inventories and increasing demand for high value-added memory chips like HBMs and DDR5s. Displays snapped their eight-month losing streak, thanks to new mobile phone model releases and wider demand from downstream ICT industries.  Mobile phones performed strong as shipments of parts surged on the backs of demand from overseas production bases. Computers/peripherals enjoyed growth as increasing investments in servers and datacenters across the U.S. and the EU led to higher demand for storage devices. Meanwhile, communication devices inched down as a result of the diminished supply of parts for wireless communication devices. By region, Korea’s ICT exports expanded to destinations like the U.S., Vietnam, and Japan, while those to China (including Hong Kong) and the EU declined.   date2025-04-14

Korea Deepens Advanced Technology Cooperation with Germany and Switzerland

Je Kyung-hee, Director General for Industrial Technology Convergence Policy at the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun), visited Hannover, Germany, on April 1–2, 2025, for the Eureka Global Innovation Summit 2025, where she held bilateral talks with partner countries to expand technology cooperation with leading research institutions. Eureka is the world’s largest joint R&D platform, bringing together 48 countries. Korea became the first non-European and only Asian full member in 2022, and joined its Board of Directors in 2023. At the Summit, Director General Je met with Armin Reinartz, Head of Directorate-General for European and International Cooperation from the Federal Ministry of Education and Research (BMBF) of Germany, a Eureka chair country. They discussed measures to strengthen Korea-Eureka cooperation and widen Korea-Germany cooperation in areas of advanced sectors such as robots and semiconductors. Director General Je also met with Marc Pauchard, Head of the Knowledge Transfer and International Programmes Division of the Swiss Innovation Agency, Innosuisse, and expressed Korea’s support for Switzerland’s successful Eureka chairmanship from July 2025 to June 2026. On April 3–4, Director General Je will be visiting the Fraunhofer Society for the Advancement of Applied Research and the German Aerospace Center (DLR) to potential new projects in industrial AI, quantum computing, robots, and other advanced technology fields, while seeking ways to leverage the Global Industry and Technology Cooperation Center at the Fraunhofer Institute to invigorate global open innovation by Korean companies, universities, and research institutions. Meanwhile, MOTIE held the Korea Eureka Day 2025 in Hannover on April 1–2. Since joining Eureka in 2009 as an associate member, Korea has provided a total of KRW 250 billion in funding for more than 250 projects in advanced bio, AI, and semiconductors. Eureka has also served as the primary platform for technology collaboration between Korean industries and the EU. This year’s Korea Eureka Day featured a range of programs for Korean business participants, including the Korea-Europe Innovation Forum, technical partner matchmaking, and one-on-one consulting sessions with Europe-based Korean engineers. date2025-04-02

Korea’s retail industry grows 4.4% in February

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that Korea’s retail industry advanced 4.4 percent year-on-year in February 2025, with offline sales declining 7.7 percent and online sales growing 16.7 percent. MOTIE's monthly retail sales figures are based on surveys of 23 major retailers. Thirteen of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSMs) operators. The remaining 10 are online retailers. With this year’s Seollal holidays landing in January and the number of working days for February coming short by a day compared to last year, retail sales across all offline channels decreased.  Hypermarkets slowed in most sales categories such as food products (down 19.7 percent), home appliances/culture (down 10.9 percent), clothing (down 23.6 percent), and home/living (down 22.5 percent). Department stores showed growth in foreign designer labels (up 4.5 percent) and household goods (up 4.3 percent), while food products (down 21.2 percent), miscellaneous goods (down 6.5 percent), and kids/sports (down 7.6 percent) shrank. Convenience stores and SSMs experienced retreating sales in both food and non-food categories. As for the online retail industry, food products (up 14.9 percent) and service/other (up 76.3 percent) sales expanded on the backs of stronger online delivery services and robust demand for food delivery and e-coupons, whereas fashion/clothing (down 9.7 percent) and sports (down 9.8 percent) contracted. Meanwhile, back-to-school demand drove sales for home appliances/consumer electronics (up 3.6 percent) and helped snap their five-month downward streak.   date2025-03-25

Korea and Spain Expand Advanced R&D Cooperation for Technological Leadership

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) and Spain’s Ministry of Science, Innovation and Universities (MICIU) held the second Korea-Spain Industrial Technology Cooperation Joint Committee meeting in Madrid, Spain, on March 5, 2025. Since 2015, the two countries have pursued bilateral technology cooperation through the Eureka Network, the world’s largest R&D platform, with 48 participating countries. In 2023, they expanded the scope and scale of bilateral cooperation by establishing a joint R&D program for medium to large-sized projects in line with their respective industrial strategies. The program has supported four bilateral joint R&D projects, including in mobility and renewable energy, with combined funding of KRW 25.6 billion. At the Joint Committee meeting, both sides shared the view that artificial intelligence (AI), advanced materials, and semiconductors are core technologies used across all industries. The two sides selected AI and semiconductors as priority technology collaboration areas for 2025, and advanced materials and nanomaterials for 2026, with plans to fund an estimated ₩27 billion in joint R&D. It is anticipated that technological cooperation among industry, academia, and research institutes in Korea and Spain will create opportunities for both countries to swiftly apply innovative technologies in various sectors to further enhance their industrial competitiveness. Following the Joint Committee, the two sides plan to continue their bilateral technological exchanges through the Korea Eureka Day, scheduled for April in Germany this in 2025, and support promising joint projects. date2025-03-05

Minister Ahn meets U.S. Senator Mark Kelly

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met U.S. Senator Mark Kelly on February 28 (local time) in Washington D.C. and discussed measures for stronger cooperation in the shipbuilding industry. date2025-03-04

KNCP to Proceed with Mediation in Complaint Against Oxy Reckitt Benckiser

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) held this year’s first Korean National Contact Point (KNCP) Committee meeting on February 25, 2025, and announced the results of its initial assessments of two complaints filed under the OECD Guidelines for Multinational Enterprises.  Concerning the complaint filed by a UK non-governmental organization (NGO) against Korean exporter Company “A,” the KNCP determined that there was little need to proceed to mediation and decided to dismiss the complaint, thereby closing the case. With regard to the complaint filed against humidifier disinfectant manufacturer and seller Oxy Reckitt Benckiser, the KNCP decided to proceed with mediation. The complaint was filed by two Korean consumers alleging violations related to human rights and consumer protection. After reviewing the statements and materials submitted, the KNCP determined that it is necessary to arbitrate the dialogue between concerned parties and initiate the mediation process. Going forward, the KNCP plans to form a mediation committee composed of private sector KNCP members and proceed with mediation on the basis of relevant parties’ voluntary participation. Should the parties reach an agreement, the KNCP will announce the mediation outcomes. Should the parties fail to reach an agreement, the KNCP will issue a final statement containing its recommendation and close the case. date2025-02-25

Korea’s retail industry advances 11.7% in January

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s retail industry grew 11.7 percent year-on-year in the month of January 2025, with offline and online sales advancing 8.8 percent and 14.6 percent, respectively. MOTIE's monthly retail sales figures are based on surveys of 23 major retailers. Thirteen of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSMs) operators. The remaining 10 are online retailers. By offline retail channel, hypermarket sales jumped 16.1 percent as Seollal holiday demand spurred sales across all categories, centering on food products (up 19.1 percent), home appliances/culture (up 7.5 percent), and home/living (up 8.2 percent). Department store sales climbed 10.3 percent on the backs of Seollal gift purchases, led by foreign designer labels (up 17.3 percent), food products (up 24.9 percent), and kids/sports (up 9.3 percent). Convenience store sales inched up 1.7 percent, with food products (up 2.5 percent) and nonfood products (up 0.9 percent) both increasing, whereas instant food products (down 5.0 percent) shrank for the first time since last year’s Chuseok holidays in September 2024. SSM operators rose 4.8 percent as food products (up 5.1 percent) and nonfood products (up 1.4 percent) both grew, thanks to higher demand for home dining and kitchenware during the Seollal holidays. Online retail sales (up 14.6 percent) enjoyed robust demand for food products (up 19.6 percent), cosmetics (up 7.7 percent), and service/other (up 73.3 percent), fueled by purchases of Seollal holiday gift and e-coupons, rental services for water purifiers and other items, as well as the expansion of online platforms’ delivery services. Meanwhile, sales of fashion/clothing (down 12.8 percent), sports (down 11.9 percent), and home appliances/electronics (down 6.2 percent) continued to slow.   date2025-02-25