Ministry of Trade, Industry and Energy

Overall retail sales inch down 0.4 percent in February

The Ministry of Trade, Industry and Energy announced on March 28 that Korea’s overall retail sales in February inched down 0.4 percent compared to the same period last year. While offline retail sales fell 7.1 percent, online retail sales gained 12.0 percent.The decline in sales at brick-and-mortar stores was mostly caused by the effect of the Seollal holiday that fell on February 5 this year. Last year, the same holiday fell on February 16. The earlier holiday meant greater demand for gif date2019-03-28

Korean ICT industry’s exports reach $12.7 billion in February

The Ministry of Trade, Industry and Energy announced on March 21 that Korea’s information and communications technology (ICT) industry in February reached USD 12.7 billion in exports and $7.3 billion in imports. The trade balance stood at a surplus of $5.4 billion.Exports of Korean ICT goods last month saw a year-on-year decrease of 19.0 percent. This fourth consecutive monthly decline is mostly a result of slower exports of semiconductors, displays, and mobile phones.By item, semiconducto date2019-03-21

Korean auto industry experiences decline in exports, production, and domestic sales in February

The Ministry of Trade, Industry and Energy announced on March 14 that the Korean automobile industry in February experienced a decline in exports, production, and domestic sales.The number of Korean automobiles exported last month reached 160,442 vehicles, down 1.6 percent compared to the same period last year. This is mostly attributable to fewer working days. Exports in terms of value, on the other hand, improved 2.7 percent to USD 2.9 billion. Outbound shipments of green cars jumped 20.3 perc date2019-03-14

Korea’s exports decrease 11.1 percent to $39.6 billion in February

The Ministry of Trade, Industry and Energy announced on March 1 that Korea’s exports in February reached USD 39.6 billion, down 11.1 percent from the same period last year.Imports also went down 12.6 percent to $36.5 billion, but the trade balance recorded $3.1 billion, remaining positive for 85 consecutive months.Last month’s exports fell at a faster rate compared to January’s outbound shipments, which declined 5.9 percent year-on-year. However, average exports per working day date2019-03-01

Overall retail sales in January gain 10.6 percent with online sales expanding at 17.3 percent

The Ministry of Trade, Industry and Energy announced on February 27 that Korea’s overall retail sales in January gained 10.6 percent compared to the same period last year.Offline retailers saw a sales improvement of 6.5 percent thanks to the Lunar New Year holiday that fell in early February. Increased sales of gift sets for the holiday led to sales growth in all types of stores. January’s year-on-year expansion was the largest for brick-and-mortar stores since February 2018.Sales at date2019-02-27

ICT exports reach $14.5 billion, imports amount to $9.4 billion in January

The Ministry of Trade, Industry and Energy announced on February 21 that Korea’s information and communications technology (ICT) Industry in January totaled USD 14.5 billion in exports and $9.4 billion in imports. The trade surplus stood at $5.1 billion.Outbound shipments of ICT goods last month decreased 18.2 percent compared to the same period of the previous year. This is attributable to declines in exports of semiconductors, displays, and mobile phones.By item, the value of semiconduct date2019-02-21

Korean auto industry sees improvement in exports, production, and domestic sales in January

The Ministry of Trade, Industry and Energy announced on February 19 that the Korean automobile industry in January saw improvement in exports, production, and domestic sales.Automobile exports last month grew 12.6 percent year-on-year to 213,618 vehicles thanks to stronger sales of sports utility vehicles (SUVs) and eco-friendly cars in North America and Europe. In particular, outbound shipments of green cars soared 64.3 percent to 21,022 units.The number of domestic vehicles manufactured by sev date2019-02-19

Korea’s January exports decrease 5.8 percent to $46.4 billion

The Ministry of Trade, Industry and Energy announced on February 1 that Korea’s exports in January decreased 5.8 percent to USD 46.4 billion compared to the same period last year.Its imports also slipped 1.7 percent to $45.0 billion, but its trade balance remained positive at $1.3 billion, making the country a net exporter for 84 consecutive months.Exports last month were affected by many external factors such as the U.S.-China trade dispute and the falling prices of semiconductors and oil date2019-02-01