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Fuel cell electric vehicles catch on in Europe
Apr 15, 2014
Fuel cell electric vehicles (FCEV) are getting more and more attention in Europe, where there is a premium placed on environmentally friendly technology. Hyundai Motor has been chosen as a supplier of FCEVs under the Hydrogen For Innovative Vehicles (HyFIVE) act, a pan-Europ...

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Auto exports hit 2nd highest monthly figure ever
Apr 11, 2014
Automobile companies are continuing to post strong overseas sales. According to the Ministry of Trade, Industry and Energy’s announcement on April 9, Korea produced 425,510 cars in March 2014, showing a 16.4 percent growth over the same period last year. Of those, 286,754 units w...

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Seoul ranks high in GFCI; Busan ranked for first time
Apr 07, 2014
Seoul has taken a top spot in global financial center rankings, and Busan has placed for the first time. In the Global Financial Centres Index (GFCI) this year, Seoul came in seventh and Busan was placed 27th among 83 cities around the world. Climbing three notches from ...

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Korea records current account surplus for 24 consecutiv...
Apr 07, 2014
Korea has continued to record a current account surplus for 24 months in a row. The Bank of Korea reported on March 31 that Korea’s current account registered a surplus of 4.5 billion dollars in February 2014. The country has been maintaining its surplus record since March 2012, ...

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Korea 2nd in semiconductor production
Mar 31, 2014
Korea has for the first time become the second largest semiconductor producer in the world. According to U.S. market research firm IHS Technology, Korea ranked second in the semiconductor production race, recording a market share of 16.2 percent last year, the Ministry of Trade, ...

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Free trade benefits Korea, Chile
Mar 04, 2014
The Korea-Chile Free Trade Agreement (FTA), Korea’s first-ever FTA, recently marked its 10th anniversary. The two countries showed more than a four-fold increase in their trade volume over the past ten years due largely to the free trade pact, which has been creating a win-win ef...

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Korea is the most innovative country: Bloomberg
Jan 27, 2014
Korea has been selected as the most innovative country in the world. According to Bloomberg, Korea scored a total of 92.10 points, ranking first in its Global Innovation Index, up from second place last year. The most innovative country last year, the U.S., came in third this yea...

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President asks global CEOs to expand investment in Kore...
Jan 23, 2014
President Park Geun-hye met with the CEOs of leading international companies Qualcomm, Saudi Aramco and Siemens on the sidelines of the 44th World Economic Forum Annual Meeting on January 22 in Davos, Switzerland. During the meetings, she encouraged the business leaders to expand...

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President attends Korea Night function in Davos
Jan 22, 2014
President Park Geun-hye urged business leaders of international companies to expand their investment in Korea during the Korea Night 2014 function in Davos, Switzerland, on January 21 (local time in Switzerland). The president was visiting the city after completing her state visi...

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Korea shows record high 2013 trade figures
Jan 06, 2014
Korea’s trade volume was worth more than USD 1.75 trillion in 2013, exceeding the USD 1 trillion mark for the third consecutive year. The Ministry of Trade, Industry and Energy (MOTIE) reported on January 2 that Korea recorded exports worth some USD 559.7 billion in 2013, a 2.2 p...