Ministry of Trade Industry and Resources

Retail Sales Figures for November

date2011-12-16

Minister Speaks With Japanese Ambassador

Minister Speaks With Japanese Ambassador Minister of Knowledge Economy Sukwoo HONG speaks with Japanese Ambassador Muto Masatoshi on December 12 in Gwacheon. The discussion focused on bilateral cooperation in the parts and materials and gas industries. date2011-12-15

MKE Releases Car Sales Figures for November

MKE Releases Car Sales Figures for November The Ministry of Knowledge Economy has released its car sales figures for November. Despite sluggish domestic demand, strong exports pushed Korea’s car production up 10.1 percent to 428,516 vehicles. Domestic sales declined 12.7 percent to 115,768 vehicles due to weak consumer sentiment and rising fuel prices. Sales of imported cars continued to increase 11.1 percent, recording 9,230 vehicles. Although global economic uncertainty prevails, export date2011-12-09

IT Trade Figures for November

date2011-12-08

Korea, Colombia Discuss Economic Cooperation

Minister of Knowledge Economy Sukwoo HONG greets Vice Minister of Business Development Carlos Andres De Hart Pinto on December 5 in the Gwacheon Government Complex. The two officials discussed bilateral economic cooperation. date2011-12-08

Korea’s Trade Volume Exceeds $1 Trillion

Minister of Knowledge Economy Sukwoo HONG speaks at a press briefing on December 5 to announce that Korea’s trade volume has exceeded the long-awaited goal of $1 trillion ($515 billion in exports and $485 billion in imports). date2011-12-08

Trade Figures for November

date2011-12-05

Korea Takes Off With New Advanced Aircraft

With the new Smart Unmanned Air Vehicle, Korea has succeeded in becoming the second country in the world to develop tilt-rotor aircraft technology. The SUAV, developed by the Korea Aerospace Research Institute over nine years with government support, is capable of vertical takeoff and landing like a helicopter but can fly much faster. It will be used not only for military purposes but also to detect and extinguish forest fires and to monitor traffic, weather and environmental conditions.   KARI and the Ministry of Knowledge Economy showed images of the aircraft in flight at a presentation held November 30. The show drew about 200 people—military personnel, aviation experts, and members of the general public. MKE and KARI plan to carry out further tests to verify the vehicle’s maximum speed, endurance and operational range as well as its ability to avoid collisions.   This milestone is the outcome of intensive research and development to advance Korea’s avionics, data-link and flight control technologies. It proves that Korea is ready to enter the lucrative and growing international unmanned air vehicle market.   * Released by the Machinery, Aerospace and Defense Industries Division date2011-12-02

Korea, Turkmenistan Discuss Cooperation

Minister of Knowledge Economy Sukwoo HONG and other officials meet with their counterparts from Turkmenistan on November 29 in Seoul to discuss bilateral economic cooperation. Minister of Oil and Gas Industry and Mineral Resources Bairamgeldy Nedirov led the Turkmen delegation. date2011-12-01

Korea and Japan Meet to Discuss Energy Cooperation

Korea and Japan Meet to Discuss Energy Cooperation Working-level officials from the Korean and Japanese governments met in the Gwacheon Government Complex last week to discuss energy policy and strengthen bilateral cooperation. It was the 16th meeting of its kind between the two countries, which share similar industrial structures and energy goals.   At the meeting, Korea discussed its plans to introduce the Renewable Portfolio Standard in 2012 and to generate 11 percent of the nation&rsqu date2011-11-28