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Korea’s retail sales in June gain 11.4%
The Ministry of Trade, Industry and Energy announced on July 27 that Korea’s overall retail sales in June increased 11.4 percent. Both offline and online retailers experienced growth, up 4.8 percent and 19.6 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 superm date2021-07-27
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Korea’s auto industry sees advancement in production and exports in H1
The Ministry of Trade, Industry and Energy announced on July 15 that Korea’s automobile output and exports in the first six months of 2021 posted year-on-year increases of 11.5 percent and 27.9 percent, respectively. In particular, exports recorded double-digit growth (up 27.9 percent to 1,049,658 units) for the first time since the first half of 2012. In value terms, exports jumped 49.9 percent to $23.6 billion. Green car exports expanded 37.1 percent to 172,921 units, the highest numbe date2021-07-15
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Exports of Korea’s ICT goods grow 29.1% to $19.3 billion in June
The Ministry of Trade, Industry and Energy announced on July 14 that exports of Korea’s information and communications technology (ICT) goods increased 29.1 percent to USD 19.3 billion in June, posting growth for 13 consecutive months and hitting the record high export value for the month of June in history. Imports went up 17.7 percent to $10.6 billion, and the trade balance stood at a surplus of $8.7 billion. Exports of chips, displays, and computers and peripherals recorded growth, bu date2021-07-14
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Korea's automobile exports log double-digit growth between Jan and May
Korea's automobile exports log double-digit growth between Jan and May date2021-07-12
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Foreign direct investment pledged to Korea jump 71.5% to $13.1 billion in H1
The Ministry of Trade, Industry and Energy announced on July 7 that foreign direct investments (FDIs) pledged to Korea in the first half of the year jumped 71.5 percent year-on-year to USD 13.1 billion. The FDIs that actually arrived in Korea over the same period expanded 57.3 percent to $7.8 billion. Both FDI pledges and arrivals recorded the second highest values for the first half of the year in history on the back of expectations of a global economic recovery and increased confidence in Kor date2021-07-07
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Korea’s exports in 1st half of 2021 hit record high
The Ministry of Trade, Industry and Energy announced on July 1 that Korea’s exports in the first half of 2021 increased 26.1 percent, hitting the record-high value of USD 303.2 billion. It is also the first time that the half-yearly export value surpassed $300 billion. Imports went up 24.0 percent to $285.1 billion, resulting in a trade surplus of $18.1 billion. Korea’s exports in June amounted to USD 54.8 billion, expanding 39.7 percent from last year. Imports jump date2021-07-01
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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
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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