Ministry of Trade, Industry and Energy

July retail sales up 7.8 percent, as retailers see growth online, offline

The Ministry of Trade, Industry and Energy announced on August 30 that overall retail sales in July 2018 expanded 7.8 percent compared to July 2017, as online and offline retailers both saw growth.   Online sales jumped 17.8 percent, seeing the biggest year-on-year growth since January 2018.   Sales at brick-and-mortar retailers also climbed, 2.3 percent year-on-year, led by sales growth at convenience stores and department stores.   All categories of retailers except for co date2018-08-30

July ICT exports top $18.6 billion, led by semiconductors, displays, phones

The Ministry of Trade, Industry and Energy announced on August 16 that exports of information and communication technology (ICT) goods in July were worth USD 18.6 billion, up 18.2 percent year-on-year.   Semiconductors, display panels and mobile phones, the three top ICT export categories, all saw growth simultaneously for the first time since December 2014. ICT exports have now seen double-digit growth for 20 consecutive months, since December 2016.   ICT imports saw an increase o date2018-08-16

Auto parts exports rise 7.1 percent in July

The Ministry of Trade, Industry and Energy announced on August 13 that auto parts exports rose 7.1 percent year-on-year to USD 2 billion in July.   The expansion was mostly led by export growth to the U.S. and Chinese markets. Shipments to North America and Asia increased 7.2 percent to $714 million and 17.9 percent to $501 million, respectively. Shipments to the European Union (EU) and to non-EU European countries also saw growth, posting 2.8 percent growth to $392 million and 11.8 perce date2018-08-13

Korea’s exports jump 6.2 percent in July

The Ministry of Trade, Industry and Energy announced on August 1 that exports topped USD 51.9 billion in July, returning to year-on-year growth after a month of contraction.   The value of average daily exports advanced 4.0 percent compared to July 2017 to hit $2.2 billion, growing for three consecutive months. Average daily exports excluding ships jumped 15.1 percent to $2.1 billion, continuing a 21-month growth streak.   The volume of overall outbound shipments advanced 3.3 perce date2018-08-01

June retail sales climb 8.1 percent

The Ministry of Trade, Industry and Energy announced on July 30 that overall retail sales in June grew 8.1 percent from a year earlier, boosted by strong online sales.   Online sales surged 14.0 percent in June, continuing an eight-month streak of double-digit growth.    Sales at brick-and-mortar retailers also advanced 4.8 percent year-on-year, although their share of total sales decreased as online sales soared.   The Ministry of Trade, Industry and Energy estimates m date2018-07-30

Auto industry slows in June due to fewer working days

The Ministry of Trade, Industry and Energy announced on July 20 that car production, car exports, and domestic sales all saw year-on-year declines in June due to two fewer working days.   Automobile exports decreased 7.7 percent year-on-year to 218,874 vehicles in June 2018. In terms of value, they shrank 9.9 percent to USD 3.5 billion. This decrease is attributable to the export slowdown in the U.S. market and due to production increases in Korean automakers’ overseas plants.  date2018-07-20

June ICT exports hit $19.1 billion

The Ministry of Trade, Industry and Energy announced on July 18 that exports of information and communication technology (ICT) goods in June were worth more than USD 19.1 billion. The monthly export figure is tied for the second-highest ever.   Exports of ICT goods in June surged 20.4 percent compared to a year earlier, achieving double-digit year-on-year growth for the 19th consecutive month, since December 2016.    ICT imports inched downward 3.0 percent year-on-year to $8.6 date2018-07-18

Industrial materials, components exports hit record high in H1

The Ministry of Trade, Industry and Energy announced on July 19 that exports of industrial materials and components set a new record of USD 155.6 billion in the first half of 2018, growing 15.6 percent year-on-year.   Imports and trade surpluses of 11 types of materials and components were also at an all-time high. Imports rose 8.2 percent to $88.1 billion and the trade surplus stood at $67.5 billion.   Exports of both materials and components achieved double-digit growth of 14.2 p date2018-07-18