Ministry of Trade Industry and Resources

South Korea’s FDI Trends in the 3Q of 2015

    □ Accumulated foreign direct investmentFDI) to South Korea for three quarters of 2015 decreased from a year earlier. The declared amount fell 10.5 percent to USD 13.27 billion and the received amount rose 9.0 percent to USD 10.82 billion from a year earlier, which means passing USD 10 billion in the shortest time ever. These numbers far exceed the average number for the past five years, mainly attributable to investments in service and construction industries.   □ - FDI to South Korea in 2015 seems to record similar amount compared to that of a year earlier based on numbers from the past and signs of investment recovery.   - South Korea plans to achieve $ 20 billion in FDI for the first time in 2015. To this end, the country will make various efforts in fourth quarter as follows: It will host “Foreign Investment Week 2015” from Oct. 13 to 15 in Seoul, inviting over 1,000 people including potential investors, those from domestic foreign investment companies, and foreign press. The activities will be mainly investment attraction activities with some forums and press conferences. It will also host events in Japan, Australia, and European countries involving investment consultation meetings and investment attraction activities for new industry of energy in preparation for “New Climate System”   date2015-10-05

Sales Trends by Major Retailers in August 2015

  □ The sales by major retailers, including those of hypermarkets, department stores and super supermarkets, fell from a year earlier, while those of convenience stores increased in Aug. 2015. □ The sales of hypermarkets and department stores increased for two consecutive months while that of convenience stores increased drastically for four consecutive months. □By product group, the sales of food, clothing, and miscellaneous goods decreased   date2015-09-30

Automobile Industry Trends for August 2015

    □ The volume of South Korean automobile domestic sales and production increased by 13.2 percent and 4.3 percent, respectively, while exports decreased by 0.7%. This was attributed to new car model launches such as Spark and K5 and economic recession in emerging markets.   □ : Production increased by 4.3 percent from a year earlier to 284,803 units despite reduced exports and fewer operating days. This rise was mainly attributable to expanded domestic demand and base effect from last year when partial strikes took place.   □ : Domestic sales increased by 13.2 percent from a year earlier to 139,327 units. This was attributable to strong sales of multi-purpose vehicles and release of new models.   - Sales of imported cars increased by 24.7 percent from a year earlier to 20,564 units.   □ : Exports decreased by 0.7 percent from a year earlier to 181,915 units. This was mainly attributable to weakened competitive edge due to Yen and Euro depreciation and demand contraction in emerging markets such as Russia and Latin America.   date2015-09-30

Stepping stone project to create USD 2.7 bil market by 2017

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 30 that it is currently carrying out a total of 12 stepping stone projects, and has recently selected businesses to achieve some of the objectives with the aim to create a 3 trillion won ($2.7 billion) market with the projects by 2017.     A stepping stone project is where new technologies or products are introduced by using the interim results of various government R&D projects that are being carried out in order to develop new future growth engines.     One of the characteristics of this stepping stone project is that both the consumer and developer participate in the technology development activities.     In the case of the Hospital Logistics Robot Project, both the robot manufacturers and domestic university hospitals test the prototypes in order to develop the technologies that are actually helpful to the hospital. They started carrying out the R&D activities at the end of last year, and plan to introduce new products in the second half of next year.     The Fishfinder Drone Development Project is also carried out by both domestic airlines and owners of deep-sea fishing vessels, so that the vessel owners can propose the technology standards necessary for navigation and support test operation.     The project objective is to develop tilt rotor drones suitable for flying over the ocean with the task of finding schools of fish. A prototype will be available for testing by offshore fishing boats.     MOTIE also announced that it plans to organize and operate a special support team for the industrialization of stepping stone projects within its R&D Strategic Planning Team to make the project successful, and send PD's with business experience in the area of robotics to the R&D sites to support the businesses involved in the projects.     * Short version date2015-09-30

First negotiation talks for the FTA to be held between Korea and six South American countries

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 21 that the first negotiation talks for the FTA between South Korea, El Salvador, Panama, Honduras, Costa Rica, Guatemala and Nicaragua are to be held from September 21 to 25 in Seoul.     The negotiation talks were scheduled and announced in June this year with the aim to achieve a "qualitative and comprehensive FTA", and a preliminary negotiation talks were held in July in order to specify minor regulations to be added in the agreement.     In the first negotiation talks, representatives from the six countries will share opinions on a total of 9 areas and 15 chapters including products, trade aid, country of origin and customs clearance.     The 6 South American countries have a high growth potential as they rank high both in GDP and population, and goods traded between South Korea and these countries amounted to $ 5 billion in 2014. The FTA is expected to help diversify economic cooperation between the countries.     * Short version date2015-09-21

Mobile factory for door-to-door 3D printing services to become available

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 18 at KICOX that it can send vehicles mounted with a 3D printer to industrial complexes to produce prototypes, provide technical assistance and offer basic training on 3D printing for the businesses within the complex.     The 3D printing vehicles will be dispatched to various industrial complexes throughout the country in each quarter to provide a wide range of 3D printing services. However, due to limited equipment, manpower and time, industrial complexes must apply for the service at www.kamic.or.kr.     Many businesses are now interested in 3D printing since it can be used to produce complicated structures that are hard to manufacture and produce small quantities of various types of products, but are still hesitant to actually add one to their production line because of the high price and lack of application skills.     In order to promote the application of 3D printers and further upgrade manufacturing technology, MOTIE and local businesses made joint efforts to build a manufacturing center in Ansan, Daejeon and then in Changwon in July last year, and they'll continue to build more in Iksan, Gumi and Gangneung next year.     * Short version date2015-09-18

School backpacks found to be 294 times more toxic than they should be

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 15 that according to a recent safety test, some school backpacks use 294 times more phthalate plasticizer, an endocrine disrupting chemical, than allowed.     The test conducted by the Korean Agency for Technology and Standards on 334 most-sold products in autumn showed that 7 of the school backpacks have exceeded the safety standards on phthalate plasticizer and cadmium, and the agency ordered a recall of the school backpacks.     The test also showed that one color pencil model also contained too much lead, and one pencil case model had too much phthalate plasticizer. Other products that were recalled include two wheeled walker models for the elderly because they can tip over too easily.     Meanwhile, all portable lawn trimmers passed the safety test.     KATS provides the list of recently recalled products at www.safetykorea.kr, and added product barcodes to the sales blocking system so that they can't be sold at large supermarkets throughout Korea.     * Short version date2015-09-15

2015 ISO Plenary Meeting to be held in Seoul with 162 countries participating

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 14 that the 2015 ISO Plenary Meeting was held from September 14 to 18 at the Lotte Hotel Seoul with the participation of over 700 people from 162 countries.     Along with the IEC and ITU, the ISO has the largest number of standards in various areas.     It's Korea's first time hosting the plenary meeting since it joined the ISO in 1963, where issues such as international standardization policies, strategies between 2016 and 2020 and advantages of standards will be discussed at the meeting.     On the last day of the event, the participants will have a tour of Samsung Electronics and Amore Pacific to see Korean exporter's technology and standard cases.     The ISO is dedicated to develop standards for various areas so that standards can be applied at anytime, anywhere, and South Korea proposes an average of 78 standards a year as one of the 20 ISO Council members that ranks 9th in ISO evaluation.   * Short version date2015-09-14