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Retail sales jump 7.2% on fast e-commerce growth in June
The Ministry of Trade, Industry and Energy announced on July 28 that retail sales jumped 7.2 percent in June, led by the fast growth of e-commerce. Online retail sales, which account for about a third of the total retail sales, jumped 13.6 percent year-on-year in June as various promotions by retailers helped drive up food and clothing sales. Revenues generated from physical stores rose by 4.2 percent on higher grocery prices. In the first half of 2017, retail sales advan date2017-07-28
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Material, component exports jump 10.5% to $134.4 billion in 1st half
The Ministry of Trade, Industry and Energy announced on July 19 that exports of industrial materials and components jumped 10.5 percent to USD 134.4 billion in the first half, marking the first double-digit growth in six years since the second half of 2011. Outbound shipments of 12 types of materials and components surged 10.3 percent to $68.6 billion in the second quarter from a year earlier and expanded 10.7 percent to $65.8 billion in the first quarter. Both expo date2017-07-19
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Automobile exports advance 1.3% to $3.8 billion in June
The Ministry of Trade, Industry and Energy announced on July 13 that automobile exports expanded 1.3 percent to USD 3.8 billion from a year ago, marking the fifth consecutive month of growth. The number of vehicles shipped abroad, as opposed to the value in dollars, grew 0.8 percent year-on-year to 240,475, thanks to strong sales in Europe and Central and South America despite the decline in sales in North America, the largest market for Korean automotive makers. Do date2017-07-13
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ICT exports soars 18% to new record for June
The Ministry of Trade, Industry and Energy announced on July 12 that exports of information and communication technology (ICT) goods soared 18 percent to USD 15.9 billion in June, a new record for the month. Outbound shipments in the ICT sector expanded for eight consecutive months and at a double-digit rate for seven straight months as semiconductor exports continued to grow at a fast pace. Imports of ICT goods jumped 21.7 percent to $8.9 billion. Trade surplus in date2017-07-12
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FDI in Korea contracts 4.4% to $5 billion in 1st half
The Ministry of Trade, Industry and Energy announced on July 4 that USD 5 billion of foreign direct investment (FDI) arrived in Korea in the first half of this year, 4.4 percent down from a year earlier. New FDI commitments to Korea also contracted 9.1 percent year-on-year to USD 9.6 billion amid growing uncertainties in the global economy such as two interest rate hikes by the U.S. Federal Reserve, negotiations on Britain’s exit from the European Union, and the rising prot date2017-07-04
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Korea’s exports hit second highest on record in June, up 13.7% to $51.4 billion
The Ministry of Trade, Industry and Energy announced on July 1 that Korea’s exports surged 13.7 percent to USD 51.4 billion, the second highest on record, in June as outbound shipments of semiconductors and ships reached a record high. The total exports grew at a double-digit rate for the sixth consecutive month for the first time in 69 months since September 2011. The average daily exports jumped 13.7 percent to $2.2 billion, marking the seventh straight month of increase, date2017-07-01
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Retail sales up 6.3% on double-digit growth of e-commerce in May
The Ministry of Trade, Industry and Energy announced on June 29 that retail sales advanced 6.3 percent to 10.29 trillion won in May on a double-digit growth of e-commerce revenues. Web-based sales, which accounts for about a third of the total retail sales, jumped 15.2 percent in May from a year earlier, while in-store sales advanced 2.5 percent. The double-digit growth in online sales was led by an increased seasonal demand for home appliances and clothing. More pu date2017-06-29
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Korea, Canada launch 1st joint industrial technology R&D program
The Ministry of Trade, Industry and Energy announced on June 26 that Korea and Canada launched their first-ever joint research and development program for industrial technologies. The Korea-Canada joint R&D program supports domestic companies to cooperate with Canadian counterparts in the development of industrial technologies, in order to help them enter overseas markets and acquire advanced technologies. The program will support projects in five fields of comm date2017-06-26