Ministry of Trade Industry and Resources

Korea’s retail sales in June grow 4.6%

The Ministry of Trade, Industry and Energy announced on July 30 that Korea’s overall retail sales in June saw a year-on-year growth of 4.6 percent. Sales of offline retailers edged down 3.0 percent, and those of online retailers expanded 15.9 percent. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four SSM op date2020-07-30

Foreign direct investment pledged to Korea reach $7.7 billion in H1

The Ministry of Trade, Industry and Energy announced on July 15 that foreign direct investment (FDI) pledged to Korea in the first half of the year fell 22.4 percent year-on-year to USD 7.7 billion. The FDI that actually arrived in Korea over the same period decreased 23.9 percent to $4.7 billion.Restrictions on the cross-border movement and rising uncertainties due to COVID-19 led to the decline in FDI. However, investment pledges to several industries such as materials, parts and equipment, hi date2020-07-15

Korea's auto exports drop, domestic sales rise in June

The Ministry of Trade, Industry and Energy announced on July 14 that Korea’s automobile exports and output in June decreased 37.4 percent and 10.8 percent, respectively. Meanwhile, domestic sales jumped 41.9 percent to 205,709 units and hit record high. The number of Korean vehicles produced by Korean automakers went down 10.8 percent to 297,019 units. The decrease was mainly attributable to a slowdown in overseas demand, but the decline eased compared to the past two months. Auto export date2020-07-14

Korea’s ICT export growth turns positive in June

The Ministry of Trade, Industry and Energy announced on July 13 that Korean information and communications technology (ICT) industry’s export growth in June rebounded for the first time in three months and reached USD 15.0 billion, up 1.0 percent compared to a year earlier. Imports grew 4.8 percent to $9.0 billion, and the trade balance stood at a surplus of $6.0 billion. By item, shipments of computers and peripherals saw growth while those of semiconductors, displays, and mobile phones date2020-07-13

Korea’s June exports decrease 10.9% to $39.2 billion, show signs of improvement

The Ministry of Trade, Industry and Energy announced on July 1 that Korea’s exports in June decreased 10.9 percent to USD 39.2 billion. Imports fell 11.4 percent to $35.6 billion, resulting in a trade surplus of $3.7 billion. Although exports in June decreased year-on-year due to the continued impact of the coronavirus, major indicators have improved. While April and May exports shrank by more than 20 percent, June exports recorded a 10.9 percent decrease. The trade balance also remained date2020-07-01

Overall retail sales in Korea increase 2% in May

The Ministry of Trade, Industry and Energy announced on June 30 that Korea’s overall retail sales in May saw a year-on-year growth of 2.0 percent. Specifically, brick-and-mortar sales fell 6.1 percent, while web-based sales jumped 13.5 percent. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four SSM operators date2020-06-29

Korea’s ICT exports reach $13.9 billion in May

The Ministry of Trade, Industry and Energy announced on June 12 that Korean information and communications technology (ICT) industry in May reached USD 13.9 billion in exports and $8.9 billion in imports. The trade balance stood at a surplus of $5.0 billion. Exports of Korean ICT goods last month experienced a year-on-year decline of 2.6 percent, but decreased by a smaller percentage compared to those in April (down 15.3 percent). By item, shipments of semiconductors, and computers and periphe date2020-06-15

Korean exports of electric vehicles reach record high in May

The Ministry of Trade, Industry and Energy announced on June 11 that Korean exports of electric vehicles hit record high in May, reaching 11,496 units. Overall automobile exports and production, however, decreased due to the effects of COVID-19. Meanwhile, domestic sales posted a year-on-year growth. The number of Korean vehicles produced by Korean automakers dropped 36.9 percent to 231,099 units. The decrease was attributable mainly to the production adjustment according to the slowdown in ove date2020-06-11