Ministry of Trade, Industry and Energy

Overall retail sales move up 12.9% in May

The Ministry of Trade, Industry and Energy announced on June 25 that Korea’s overall retail sales in May saw a year-on-year growth of 12.9 percent. Both offline and online sales improved, up 8.8 percent and 17.6 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, and four “super supermarket” date2021-06-28

Korea, Spain to expand green, digital partnerships

Issued on: June 16, 2021   During President Moon Jae-in’s visit to Spain (June 15-17), Korea and Spain agreed to strengthen business cooperation in the green and digital sectors at the Green & Digital Forum held in Madrid, on June 16 (local time).   President Moon proposed that the two countries ramp up investments in renewable energy and green mobility, encourage digital cooperation to improve industrial competitiveness, and expand partnership in construction and infrast date2021-06-17

Korea’s ICT industry exports $17.7 billion worth of goods in May

The Ministry of Trade, Industry and Energy announced on June 14 that Korea’s information and communications technology (ICT) industry exported $17.7 billion (up 27.4 percent) worth of goods in May. Imports climbed up 17.7 percent to $10.5 billion, and the trade balance was a surplus of $7.2 billion. Outbound shipments of all major products experienced growth. Semiconductor exports advanced 24.0 percent to $10.1 billion, hitting the $10.0 billion mark in 30 months. Memory chips went up 1 date2021-06-14

Auto exports in May expand 57.5%

The Ministry of Trade, Industry and Energy announced on June 11 that Korea’s automobile output and exports in May grew 10.9 percent and 57.5 percent, respectively. Meanwhile, domestic sales contracted 10.1 percent. The number of vehicles produced by Korean automakers went up 10.9 percent to 256,272 units. The growth in automobile production was mostly attributable to a significant increase in outbound shipments. Over the same period, exports jumped 57.5 percent to 150,894 units. The bas date2021-06-14

Petroleum products rebound; Korea reaches all-time high April exports

Petroleum products rebound; Korea reaches all-time high April exports date2021-06-11

Korea’s exports expand 45.6% to $50.7 billion in May

The Ministry of Trade, Industry and Energy announced on June 1 that Korea’s exports in May expanded 45.6 percent to USD 50.7 billion. Imports went up 37.9 percent to $47.8 billion, resulting in a trade surplus of $2.9 billion. The improvement in exports was mostly due to an ongoing recovery in the global economy. It is the first time since September 2017 that both the export value and volume posted double-digit increases. May exports recorded the highest year-on-year growth for the first date2021-06-01

｢2021 P4G Seoul Summit Energy Session｣

□ The Ministry of Trade, Industry and Energy (Minister Moon Sungwook) organized a thematic session on energy* on the second day of the two-day ｢2021 P4G Seoul Summit (5.30~31)｣. * Thematic sessions : energy, water, food/agriculture, cities, circular economy ㅇ Under the theme ‘A Greener Planet with Innovative Energy Solutions’, representatives from governments, enterprises, and international organizations gathered to discuss innovative energy solutions for carbon neutrality an date2021-06-01

Korea’s April retail sales rise 13.7%

The Ministry of Trade, Industry and Energy announced on May 27 that Korea’s retail industry saw a 13.7 percent improvement in sales in April compared to the same period last year. Both offline and online retailers saw growth, up 11.2 percent and 16.5 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, a date2021-05-27