Ministry of Trade, Industry and Energy

Trade Figures for July

2012 ○ July - Exports : $44.67 billion (-8.7%) - Imports : $41.98 billion (-5.2%) - Trade Balance : $2.69 billion   2013 ○ June - Exports : $46.71 billion (-1.0%) - Imports : $40.72 billion (-3.0%) - Trade Balance : $5.99 billion ○ July - Exports : $45.84 billion (2.6%) - Imports : $43.13 billion (2.7%) - Trade Balance : $2.71 billion ○ First seven months - Exports : $322.49 billion (0.9%) - Imports : $299.75 billion (-2.1%) - Trade Balance : $22.74 billion         ○ Value - Ships : $2.55 billion - Wireless Communications Devices : $2.09 billion - General Machinery : $3.82 billion - Petrochemicals : $4.11 billion - Steel : $2.56 billion - Semiconductors : $4.8 billion - Automobiles : $3.59 billion - Petroleum Products : $4.03 billion - LCD Devices : $2.07 billion - Textiles : $1.36 billion - Household Appliances : $1.2 billion - Automobile Parts : $2.14 billion - Computers : $710 million   ○ Growth Rate - Ships : 19.3% - Wireless Communications Devices : 27.3% - General Machinery : -11.7% - Petrochemicals : 7.8% - Steel : -19.4% - Semiconductors : 21.8% - Automobiles : -3.3% - Petroleum Products : -7.6% - LCD Devices : -13.5% - Textiles : -5.4% - Household Appliances : 5.1% - Automobile Parts : -0.5% - Computers : -9.7%   - The above figures are based on customs clearance data for the first 20 days of July and as such are only tentative.         ○ Growth Rate - China : 11.1% - United States : 4.8% - Japan : -21.7% - European Union : -2.3% - ASEAN : -4.9% - Middle East : -25.4% - Latin America : 2.7% - Oceania : 58.0%   ○ Percentage of All Exports - China : 28.2% - United States : 11.3% - Japan : 6.2% - European Union : 8.3% - ASEAN : 14.3% - Middle East : 4.9% - Latin America : 6.2% - Oceania : 4.2%   - The above figures are based on customs clearance data for the first 20 days of July and as such are only tentative.     ○ Growth Rate - Japan : -8.1% - United States : -16.6% - China : 3.7% - ASEAN : -10.3% - European Union : -12.2% - Middle East : -3.6% - Latin America : 12.9% - Oceania : -25.4%   ○ Percentage of All Exports - Japan : 12.1% - United States : 7.9% - China : 17.3% - ASEAN : 9.7% - European Union : 10.8% - Middle East : 23.4% - Latin America : 4.4% date2013-08-05

Minister Speaks with Japanese Investors in Korea

date2013-07-22

Parts and Materials Industry Trade Figures for First Half of 2013

○ All Industries - Exports : $276.7 billion (0.6%) - Imports : $257.1 billion (-2.6%) - Trade Balance : $19.6 billion ○ Parts and Materials - Exports : $130.0 billion (5.2%) - Imports : $81.7 billion (1.5%) - Trade Balance : $48.3 billion ○ Materials - Exports : $43.1 billion (-3.1%) - Imports : $32.3 billion (-4.5%) - Trade Balance : $10.8 billion ○ Parts - Exports : $86.9 billion (9.8%) - Imports : $49.4 billion (5.8%) - Trade Balance : $37.5 billion - Year-on-year growth rates shown in parentheses - The above figures are based on customs clearance data, and as such are only tentative.       ○ Exports Materials - Textiles : $2.5 billion (-0.8%) - Compounds and Chemicals : $22.3 billion (3.4%) - Rubber and Plastic Materials : $4.9 billion (0.2%) - Nonmetallic Minerals : $800 million (45.4%) - Basic Metals : $12.7 billion (-15.4%)   Parts - Fabricated Metals : $2.3 billion (-4.4%) - General Machine Parts : $11.6 billion (2.3%) - Computer and Office Machine Parts : $2.1 billion (18.6%) - Electrical Machine Parts : $12.2 billion (17.9%) - Electronic Components : $41.1 billion (12.8%) - Precision Machine Parts : $3.1 billion (5.5%) - Transportation Machine Parts : $14.5 billion (4.2%)     ○ Imports Materials - Textiles : $1.5 billion (1.9%) - Compounds and Chemicals : $13.8 billion (1.9%) - Rubber and Plastic Materials : $2.4 billion (-7.0%) - Nonmetallic Minerals : $2.1 billion (-2.4%) - Basic Metals : $12.6 billion (-11.2%)   Parts - Fabricated Metals : $1.0 billion (3.4%) - General Machine Parts : $10.1 billion (8.1%) - Computer and Office Machine Parts : $1.9 billion (0.6%) - Electrical Machine Parts : $8.2 billion (10.9%) - Electronic Components : $21.3 billion (5.8%) - Precision Machine Parts : $3.1 billion (-3.0%) - Transportation Machine Parts : $4.0 billion (0.7%)     ○ Trade Balance Materials - Textiles : $1.0 billion - Compounds and Chemicals : $8.5 billion - Rubber and Plastic Materials : $2.5 billion - Nonmetallic Minerals : -$1.3 billion - Basic Metals : $100 million   Parts - Fabricated Metals : $1.3 billion - General Machine Parts : $1.5 billion - Computer and Office Machine Parts : $300 million - Electrical Machine Parts : $4.0 billion - Electronic Components : $19.8 billion - Precision Machine Parts : $15 million - Transportation Machine Parts : $10.5 billion   - Year-on-year growth rates shown in parentheses       Trade Performance with Major Trading Partners ○ Exports - China : $44.1 billion - Japan : $6.8 billion - Middle East : $6.9 billion - Europe :$14.8 billion - United States : $11.8 billion - Latin America : $7.6 billion - ASEAN : $18.5 billion ○ Imports - China : $21.8 billion - Japan : $17.2 billion - Middle East : $1.1 billion - Europe : $13.8 billion - United States : $9.3 billion - Latin America : $1.3 billion - ASEAN : $ date2013-07-19

Foreign Investment Figures for First Half of 2013

date2013-07-16

IT Trade Figures for First Half of 2013

date2013-07-11

Trade Figures for First Half of 2013

date2013-07-02

Korea Outlines New Trade Policy Direction

The Ministry of Trade, Industry and Energy announced a “New Trade Policy Roadmap” to improve the effectiveness of the nation’s trade policy and promptly respond to rapidly changing trade conditions. As part of its new trade agenda, Korea will continue to expand its global network of free trade agreements (FTAs). While concentrating on the completion of additional trade pacts, particularly with emerging economies, Korea is poised to serve as a linchpin of accelerated economic integration in the East Asian market with the promotion of regional trade agreements. The nation is also committed to further cooperating on multilateral trade negotiations, such as the Information Technology Agreement (ITA) and the Trade in Service Agreement (TISA). Korea will push for trade ties tailored to its trading partners’ needs, promoting FTAs with economic powerhouses as well as sharing its development experiences with emerging economies. For example, to better assist developing countries’ development efforts, Korea will set up an Emerging Nations Co-development Program (ECP), provide project financing in collaboration with development banks and offer comprehensive technological assistance. With the new the initiatives in place, MOTIE aims to create more jobs and provide greater access to overseas markets for small and medium-sized enterprises (SMEs). As part of these efforts, the Ministry plans to form a headquarters to help address non-tariff barriers in foreign markets. To improve trade infrastructure and strengthen links between trade and industry, MOTIE has also launched a “trade industry forum”, inviting representatives from a wide range of industries including manufacturing, services, agriculture and fisheries. A comprehensive one-stop trade information system will be set up to support Korean companies doing business overseas. * Released by the Trade Policy Division date2013-06-25

Korea Pledges Better Environment for Foreign Direct Investment

The Ministry of Trade, Industry and Energy held this year’s third Foreign Investment Committee meeting and finalized a set of measures to improve Korea’s business environment and infrastructure for foreign investment. With the aim of creating quality jobs and leading the transition to the creative economy, the Ministry mapped out top priority tasks in collaboration with related agencies and local governments. As part of efforts to promote foreign investment, Korea will introduce an ‘Asia Regional Headquarter Program’ later this year. Under the new program, companies that set up a regional headquarters in Korea may apply for a comprehensive package including cash grants from the government. The Ministry will also work with competitive materials and parts suppliers based in the United States and Germany to explore and develop investment opportunities in Korea. To better lure high quality investment, Korea plans to reorganize its foreign investment support system to focus on job creation and innovation. Under the new system, foreign companies who have contributed to the local economy will enjoy further support from the government. In addition, the Ministry will take a two-track approach – setting up task force teams tailored to meet investors’ needs while actively developing large-scale overseas investment promotion activities. In an effort to improve investment conditions and remove obstacles to foreign investment, steps under consideration include lowering the minimum share required for a third generation subsidiary of a joint investment company to establish its subsidiaries to 50 percent. In order to enhance living conditions for expatriate employees in Korea, MOTIE plans to attract more foreign schools, provide better medical services and create a more English-friendly environment. The Ministry is also committed to assisting foreign businesses in their efforts to recruit skilled personnel. * Released by the Foreign Investment Policy Division date2013-06-13

IT Trade Figures for May

date2013-06-11

Trade Figures for May

Exports of wireless communications devices surged thanks to brisk sales of smartphones and a low base effect from a year earlier. Semiconductor exports showed positive growth as rising demand for smart devices boosted outbound shipments of memory semiconductors. Thanks to strong demand for LED lighting from advanced nations and robust sales of premium TVs, exports of household appliances also performed strongly. Textile exports also increased as an effect of the Korea-Turkey FTA. Exports of steel, on the other hand, declined sharply, mainly due to sluggish recovery of the steel market. Outbound shipments of ships also continued to fall. An oversupply of ships, financial crisis in the European Union and contraction of shipping finance were contributing factors in this decline. date2013-06-04