Ministry of Trade Industry and Resources

MOTIE to Host Foreign Investment Week 2015

      The Ministry of Trade, Industry and Energy (MOTIE) will host the 10th annual "Foreign Investment Week 2015" (FIW 2015) from October 13 to 15 at the Grand InterContinental Seoul Parnas hotel to promote investment opportunities in South Korea.   About 650 foreign investors and members of the press will join 350 guests from local companies and the Korean government to attend the country's largest international investment promotion event.   MOTIE Minister Yoon Sang-jick will deliver welcome remarks at the opening ceremony of the forum, which will feature investment conferences and seminars, panel discussions, one-on-one meetings, visits to industrial sites and multiple networking events where global entrepreneurs and investors can find new opportunities in Asia's fourth-largest economy.   FIW 2015 is being held under the theme of building a foundation for a business hub in Northeast Asia. Participants will have a chance to learn about South Korea's efforts to lure foreign investment by strengthening its infrastructure and enhancing its investment landscape.   This year's event will especially highlight the business opportunities created by South Korea's growing FTA network of 52 countries, which now includes the U.S., the EU, and China, as well as the investment potential of its Korea Free Economic Zones (KFEZ).   To find more about Foreign Investment Week 2015, please visit its English website at . date2015-10-12

South Korea’s FDI Trends in the 3Q of 2015

    □ Accumulated foreign direct investmentFDI) to South Korea for three quarters of 2015 decreased from a year earlier. The declared amount fell 10.5 percent to USD 13.27 billion and the received amount rose 9.0 percent to USD 10.82 billion from a year earlier, which means passing USD 10 billion in the shortest time ever. These numbers far exceed the average number for the past five years, mainly attributable to investments in service and construction industries.   □ - FDI to South Korea in 2015 seems to record similar amount compared to that of a year earlier based on numbers from the past and signs of investment recovery.   - South Korea plans to achieve $ 20 billion in FDI for the first time in 2015. To this end, the country will make various efforts in fourth quarter as follows: It will host “Foreign Investment Week 2015” from Oct. 13 to 15 in Seoul, inviting over 1,000 people including potential investors, those from domestic foreign investment companies, and foreign press. The activities will be mainly investment attraction activities with some forums and press conferences. It will also host events in Japan, Australia, and European countries involving investment consultation meetings and investment attraction activities for new industry of energy in preparation for “New Climate System”   date2015-10-05

MOTIE Hosts Korea-Italy M&A Deal Sourcing Plaza

MOTIE Hosts Korea-Italy M&A Deal Sourcing Plaza   The Ministry of Trade, Industry and Energy (MOTIE) hosted the Korea-Italy M&A Deal Sourcing Plaza in Seoul yesterday in an effort to encourage local companies to seek business opportunities in Italy and other European countries through mergers and acquisitions (M&As)   In an opening speech at the event, Deputy Minister for International Trade and Investment Lee Inho pledged government support and stressed the need for small- date2015-09-23

Deputy Minister Woo Advocates Stronger Business and Industrial Ties Between South Korea and Japan

Deputy Minister Woo Advocates Stronger Business and Industrial Ties Between South Korea and Japan   Deputy Trade Minister Woo Taehee delivered a congratulatory speech at the Korea-Japan Industrial Technology Fair 2015 held in Seoul friday.   In the speech, the deputy minister stressed the need to promote business and industrial cooperation between the two countries. date2015-09-14

Export and Import Trends for August 2015

    □ Korea’s exports fell 14.7 percent to $39.3 billion and imports decreased 18.3 percent to $35.0 billion in August from a year earlier, resulting in a trade surplus, for the 43 consecutive month, of $4.3 billion.   □ By product, shipments of major export items including those sensitive to oil price changes decreased, while exports of new items increased. Shipments of petrochemical and petro products, ships and automobiles, and general machinery fell. Shipments of mobile telecommunication devices and semiconductors showed an increase, as well as new competitive products such as OLEDs (Organic Light Emitting Diodes) and cosmetics. By region, exports to most regions excluding Vietnam fell. - Exports to Vietnam sharply increased from a year earlier, but those to China decreased as a result of the explosions at the Port of Tianjin and decreased demand for imports. - The unit prices of major export items fell due to a drop in oil prices and excess supply, while the volume continued to increase for the third consecutive month.   □ The unit prices of major raw materials decreased, but imports of capital and consumer products jumped.   □ ○ In August, exports showed their biggest monthly declinethis year due to the drop in oil prices, a delay in the delivery of drill ships, and the explosions at the Port of Tianjin, China.   ○ Export growth is expected to improve thanks to increased ship delivery and the launch of new automobiles from the fourth quarter of this year.   date2015-09-04

South Korean President Visits China to Mark WWII Anniversary, Strengthen Bilateral Ties

South Korean President Visits China to Mark WWII Anniversary, Strengthen Bilateral Ties   President Park Geun-hye left Seoul yesterday for a three-day visit to attend China's celebrations on the 70th anniversary of the end of the World War II and strengthen bilateral ties with the world's second largest economy and South Korea's number one trading partner.   Vice Minister Moon Jae-do of the Ministry of Trade, Industry and Energy (MOTIE) is accompanying President Park on the trip, along date2015-09-03

Deputy Trade Minister Woo Briefs on Key Trade Issues

      Deputy Trade Minister Woo Taehee held a regular media briefing on restoring industrial and energy cooperation with post-sanctions Iran and other key trade issues at the Ministry of Trade, Industry and Energy (MOTIE) in Sejong yesterday.   After the briefing, Deputy Minister Woo also told reporters that South Korea will consider increasing its imports of Iranian oil and condensate once sanctions on Tehran are lifted. For more information, please see a report by Reuters:   Deputy Minister Woo and Minister of Land, Infrastructure and Transport Yoo Il-ho led the South Korean delegation to visit the Islamic nation last week, accompanied by state-run oil, gas and resources companies date2015-09-02

ICT Export and Import Trends, July 2015

  □ South Korean exports of information and communications technology (ICT) products decreased by 3.9 percent to USD 13.71 billion in July from the same time a year before. Imports rose by 5.8 percent to USD 7.57 billion, resulting in a USD 6.14 billion trade surplus.   □ ICT exports decreased for the first time in last three months. Exports of semiconductors grew, while those of displays, cell phones, computers and peripherals, and D-TV decreased. Shipments of cell phones decreased due to intensified global competition and expansion of overseas production. Exports of computers and peripherals fell due to decrease in peripherals exports caused by weak sales of secondary memory units. It turned to downward trend for the first time in five months. Exports to China and the ASEAN countries rose, while those to the EU and the US declined.   □ Imports of most key items increased, except for computers and peripherals. Imports of cell phones skyrocketed due to a growing volume of foreign-made smartphones and cell phone components being re-imported from abroad. Imports from China, the US, and Taiwan increased while those from Japan, EU and the ASEAN countries   □ o South Korea’s total volume of ICT exports is relatively great compared to other main advanced countries; however, foreign conditions such as slowdowns in trades and fall in growth estimates are taking place and seem to persist. Also, July was the first month ICT exports fell since April. The only positive sign was the continuous increase in semiconductors exports.   date2015-08-30

MOTIE Minister Yoon Holds Meeting to Promote Exports

MOTIE Minister Yoon Holds Meeting to Promote Exports   Minister of Trade, Industry and Energy Yoon Sang-jick held a meeting of high-level officials at relevant government agencies and industry organizations in Seoul today to discuss ways to promote the country's exports.   During the meeting, Minister Yoon urged the participants to work together to overcome unfavorable external conditions such as low oil prices and help local exporters tap into overseas markets. date2015-08-12

Export and Import Trends for July 2015

    □ South Korea’s exports fell 3.3 percent to $46.6 billion and imports decreased 15.3 percent to $38.8 billion in July from a year earlier, resulting in a trade surplus, for the 42 consecutive month, of $7.76 billion.   □ The volume of overseas shipments rose while unit prices fell as a result of factors such as falling oil prices and global oversupply. - By product, exports including petro products and petrochemical products increased. Shipments of steel, ships, and semiconductors rose, while those of automobiles, mobile telecom equipment, and home appliances decreased. Exports of OLED and cosmetics also showed steady gains. By region, exports declined for most regions amid the global trade slowdown. - Exports to Vietnam increased sharply due to increasing local production of South Korean wireless communication devices and home electronic appliances.   □ Unit prices of major raw materials continued to decrease and imports of consumer goods fell slightly, while capital imports remained strong.   □ ○ South Korea’s export volume maintained an upward trend despite a continued decline in exports in terms of dollar-denominated value. The profitability of export companies will likely improve slightly as won-denominated exports increased 8.4 percent in July thanks to a more favorable exchange rate.   ○ The downward trend in overseas shipments could continue for the time being due to unfavorable external conditions such as a decline in world trade, falling oil prices, and the weakening yen and euro. - Exports of semiconductors and solid state drives (SSDs) are likely to show solid growth as a result of rising demand for automobiles, smartphones (in emerging countries), and wireless communication devices on the back of new product introductions.   ○ The Korean government plans to focus on seeking new opportunities to promote exports of products such as cosmetics, SSDs, and organic light emitting diodes (OLEDs), while implementing measures to reinvigorate short-term exports announced in April and other steps aimed at strengthening export competitiveness in July as scheduled.   date2015-08-10