In 2024, South Korea plans to implement a new hydrogen classification system.

The Ministry of Trade, Industry, and Energy of South Korea announced on Wednesday that beginning in 2024, the country will adopt a new clean hydrogen certification system that will assess businesses' carbon footprints according to the total amount of carbon emissions rather than the method of...

S. KOREA SAW A RECORD INCREASE IN EXPORTS BY 41.1% IN APRIL

Highlights –

• S. Korea saw a record increase in exports by 41.1% in April.
• Exports grew on demand for chips and automobiles.
• Outbound shipments in April were reported to be $51.1 billion.
• Stronger demand for laptops and othe...

S. KOREA’S EXPORTS OF COVID-19 VIRUS RELATED GOODS ROSE $5.9 BILLION

Highlights –

• S. Korea’s exports of COVID-19 virus related goods rose $5.9 billion.
• The country's overall exports came to $512.8 billion, down 5.4 percent from 2019.
• Exports of medical test kits surged $4.5 billion in 2020.

SK HYNIX’S PROJECT TO BUILD NEW SEMICONDUCTOR COMPLEX APPROVED

Highlights –

• SK Hynix’s project to build new semiconductor complex approved.
• The project is said to be of $106 billion and is a move to ease supply shortages.
• The company has completed all the necessary administrative procedures...

S. KOREA’S EXPORTS OF MEDICAL PRODUCTS ROSE TO $4.67 BILLION IN 2020

Highlights –

• S. Korea’s exports of medical products rose to $4.67 billion in 2020.
• Exports to the EU saw a significant rise on-year in 2020.
• South Korean trade and medical officials vowed with EU counterparts to make joint effor...

S. KOREA TO BOOST CIVIL-MILITARY TIES IN 2021 BY INVESTING $182 MILLION

Highlights –

• S. Korea to boost civil-military ties in 2021 by investing $182 million.
• The South Korean government plans to carry out more than 200 projects centered around state-of-the-art technologies.
• The government increased the bu...

S. KOREA’S EXPORTS OF AUTOMOBILES INCREASE BY 35 PERCENT IN FEBRUARY

Highlights –

• S. Korea’s exports of automobiles increase by 35 percent in February.
• In February, outbound shipments of automobiles were 161,886 units.
• Hyundai saw overseas sales increase by 40.4 percent in terms of units.
...

S. KOREA LAUNCHES NEW COMMITTEE WITH BUSINESS GROUPS TO CUT GREENHOUSE GASES

Highlights –

• S. Korea launches new committee with business groups to cut greenhouse gases.
• The new committee has been formed from businesses of chip and display industries.
• The committee will make joint efforts to develop environmenta...

S. KOREA CONGLOMERATES TO INVEST $38.2 BILLION IN THE HYDROGEN INDUSTRY

Highlights –

• S. Korean conglomerates to invest $38.2 billion in the hydrogen industry.
• SK, Hyundai Motor, POSCO, Hanwha, and Hyosung are ready to invest in a wide range of hydrogen infrastructure.
• SK Group plans to invest 18.5 trillio...

S. KOREA’S EXPORTS RISE IN FEBRUARY BY 9.5 PERCENT

Highlights –

• S. Korea’s exports rise in February by 9.5 percent.
• The country’s exports came to $44.8 billion last month.
• The imports rose by 13.9 percent to $42.1 billion.
• Outbound shipments of chips expanded 13...

S. KOREA’S RETAIL SALES ROSE BY 6 PERCENT IN JANUARY

Highlights –

• S. Korea’s retail sales rose by 6 percent in January.
• Due to the pandemic more consumers purchased daily necessities from online stores.
• In January, combined sales of 26 major offline and online retailers reached 12...

S. KOREA BY 2030 TO INCREASE NUMBER OF ECO-FRIENDLY CARS TO 7.85 MILLION

Highlights –

• S. Korea by 2030 to increase number of eco-friendly cars to 7.85 million.
• The country vision’s to go fully carbon neutral by 2050.
• South Korea has been the 4th largest exporter of electric cars in 2020.
• T...

S. KOREA’S INDUSTRY MINISTRY TO RAISE $179 MILLION FOR ECO-FRIENDLY AUTOMOBILES

Highlights –

• S. Korea’s industry ministry to raise $179 million for eco-friendly automobiles.
• The ministry has reached an MOU with a bunch of industrial and financial partners.
• The government plans to invest 50 billion won.
...

S. KOREA TO PROVIDE $27.4 BILLION IN GREEN AND DIGITAL SECTOR EXPORTS

Highlights –

• S. Korea to provide $27.4 billion in green and digital sector exports.
• The country will provide low-interest loans to exporters in such fields through 2025.
• The country also plans to expand official development assistance...

HYUNDAI ANNOUNCES TO START PILOT PROJECT TO REUSE BATTERIES FOR ELECTRIC VEHICLE

Highlights –

• Hyundai announces to start pilot project to reuse batteries for electric vehicle.
• S. Korea has decided to give regulatory exemptions for business models on the reuse of EV batteries.
• Hyundai has also decided to provide a ...

S. KOREA EXPECTS EXPORTS OF CHIPS TO TOP AT US$100 BILLION IN FY 2021

Highlights –

• S. Korea expects exports of chips to top at US$100 billion in FY 2021.
• The expected projection is said to increase by 10.2 percent on-year to $109.3 billion in 2021.
• The country’s two leading memory chipmakers are S...

EXPORTS IN SOUTH KOREA DECRESED BY 5.4 PERCENT IN 2020

Highlights –

• Exports in South Korea decreased by 5.4 percent in 2020.
• In 2020, the outbound shipments came to the US $512.8 billion.
• The country’s imports moved down to 7.2 percent on-year to $467.2 billion.
• Outbound ...

SOUTH KOREA’S RETAIL SALES IN NOVEMBER PEAKED TO 6.3 PERCENT

Highlights –

• South Korea’s retail sales in November peaked at 6.3 percent.
• The combined of 26 major offline and online retailers reached 12.41 trillion won in November.
• Online platforms saw their sales jump 17 percent over the p...

South Korea hastens Plans for Autonomous, electrical and Flying Cars

South Korea undraped plans to hurry up the adoption of electric cars, self-driving vehicles, and even flying vehicles within the coming back years to assist revive a lax economy.

President Moon Jae-in aforesaid in an exceeding speech weekday Korean corporations can invest sixty trillion...