Ministry of Trade Industry and Resources

Materials, components exports grow 13.6 percent to $237.9 billion in Q1 - Q3

The Ministry of Trade, Industry and Energy announced on October 18 that exports of 11 types of industrial materials and components in the first three quarters of this year went up 13.6 percent year-on-year to $237.9 billion.Imports also rose 5.1 percent to $131.8 billion and the trade surplus stood at $106.1 billion, surpassing the $100 billion mark for the first time for materials and components.By type, electronic components accounted for 44.0 percent of the total exports. The other two types date2018-10-18

Minister Sung attends Korea-Italy Business Networking Seminar in Rome

Trade, Industry and Energy Minister Sung Yunmo (center) attended the memorandum of understanding (MOU) signing ceremony held at the Korea-Italy Business Networking Seminar in Rome, Italy, on October 17.At the event, the Korea Trade-Investment Promotion Agency (KOTRA) and the Italian Trade Agency (ITA) signed an MOU for investment cooperation between the two countries. KOTRA also inked an MOU with Istituo Marangoni for the advancement of fashion design.During the ceremony, Minister Sung delivered date2018-10-18

ICT exports in September reach new monthly record of $20.3 billion

The Ministry of Trade, Industry and Energy announced on October 17 that exports of information and communications technology (ICT) products in September increased 5.3 percent year-on-year, reaching the highest monthly record of USD 20.3 billion.ICT imports decreased 11.7 percent to $8.0 billion and Korea stayed as a net ICT exporter with a trade surplus of $12.3 billion.In particular, growths in outbound shipments of semiconductors and computers and peripheral devices helped ICT exports surpass date2018-10-17

Minister Sung meets with French corporate leaders at Korea-France Business Roundtable

Trade, Industry and Energy Minister Sung Yunmo (third from left) had a discussion with French corporate leaders at the Korea-France business roundtable that took place in Paris on October 16.At the meeting, Minister Sung emphasized that the Korean government regards French companies as partners for growth and that it wants to support their businesses in Korea and their cooperation with Korean firms.The event was attended by representatives from 13 French companies, including Airbus, Dassault Sys date2018-10-17

Minister Sung hosts Korea-EU Investment Roundtable 2018 in Paris

Trade, Industry and Energy Minister Sung Yunmo (center in the front row) hosted the Korea-EU Investment Roundtable 2018 in Paris on October 15.During his opening remarks at the event held to strengthen investment cooperation between the two parties, Minister Sung asked for concerted efforts to work towards boosting innovation and technology development, creating future growth engines, and promoting new renewable energy advances.The meeting was attended by representatives of 13 companies from Fra date2018-10-16

Fewer working days lead to decrease in auto exports in September

The Ministry of Trade, Industry and Energy announced on October 12 that Korea’s automobile exports, production, and domestic sales in September all saw a year-on-year decrease on fewer working days due to the national Chuseok holiday.Exports of finished vehicles fell 18.4 percent to 183,964 units. In terms of region, all export destinations except non-EU European countries saw a decline: North America (down 14.0 percent to $1.2 billion), EU (down 32.7 percent to $542 million), the Middle E date2018-10-12

Minister Sung underlines value of energy transition at New Energy Industry Business Dialogue

Trade, Industry and Energy Minister Sung Yunmo (fourth from right) underlined the value of energy transition for innovation-driven growth during his welcoming speech at the New Energy Industry Business Dialogue that took place at COEX in Seoul on October 5.As part of the second-day schedule of the Korea Energy Transition Conference 2018, the dialogue was held to discuss strategies for creating new businesses and innovation-based growth engines with the help of Fourth Industrial Revolution techno date2018-10-05

FDI pledged to Korea in first three quarters reach record high

The Ministry of Trade, Industry and Energy announced on October 4 that foreign direct investment (FDI) pledged to Korea in the first three quarters of this year reached a record high of USD 19.2 billion, up 41.4 percent from the same period last year.This highest figure ever for the January-September period indicates that Korea is certainly an attractive investment destination as the Asian country engages in many free trade agreements, has an excellent research and investment workforce, and is h date2018-10-04

Ministry hosts Korea Energy Show 2018

Seoul, Korea - The Ministry of Trade, Industry and Energy announced on October 2 that the Ministry will host the Korea Energy Show 2018, the nation’s largest energy exhibition, at KINTEX in Goyang from October 2 to 5. During his opening remarks at the show’s opening ceremony, Trade, Industry and Energy Vice Minister Cheong Seung-il said that energy transition is a global phenomenon and that the energy sector needs innovation. The energy exhibition will highlight the country's energ date2018-10-02

Vice Minister Cheong gives speech at Korea Energy Show 2018

Trade, Industry and Energy Vice Minister Cheong Seung-il delivered opening remarks at the Korea Energy Show 2018 held at KINTEX in Goyang on October 2.During his address, Vice Minister Cheong said that energy transition is a global phenomenon and that innovation is needed in the energy sector.The opening event was attended by about 200 representatives from the power industry, including Korea Energy Agency Vice President Lee Sanghong and Hanwha Q-Cells President Ryu Seongjoo.Korea's largest date2018-10-02