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Korea announces growth acceleration scheme for middle-market companies  The Ministry of Trade, Industry and Energy (MOTIE) announced on January 16 the growth acceleration scheme for middle-market companies to be pushed by South Korea’s new regime, during a conference held at MCNEX (Incheon), one of the world’s top automotive camera producers. The conference was attended by MOTIE’s 2nd Vice Minis... 2023-01-17
MOTIE announces Industrial AI Internalization Strategy The Ministry of Trade, Industry and Energy (MOTIE) held the first Industrial Digital Transformation Committee meeting at the Korea Chamber of Commerce and Industry (KCCI) on January 13, where the members deliberated and confirmed the Industrial AI (artificial intelligence) Internalization Strategy (hereinafter “Strategy”).The meeting wa... 2023-01-16
Korea-Singapore Digital Partnership Agreement enters into force The Ministry of Trade, Industry and Energy (MOTIE) announced on January 14 that the Korea-Singapore Digital Partnership Agreement (hereinafter “KSDPA”) comes into effect starting January 14 as both countries’ domestic procedures are completed.The two sides, following their KSDPA signing ceremony held in November 2022, have exchang... 2023-01-16
Korea and Lithuania discuss trade and economic cooperation Minister for Trade Dukgeun Ahn met with Lithuania’s Foreign Affairs Minister Gabrielius Landsbergis on January 12 in Seoul to discuss measures to strengthen bilateral economic and trade cooperation and also requested support for World Expo 2030 Busan.Minister Landsbergis mentioned that Lithuanian companies specializing in LNG (Klaipedos Nafta... 2023-01-16
Korea's ICT exports hit all-time highs in 2022 The Ministry of Trade, Industry and Energy (MOTIE) announced on January 12 that shipments of Korea’s information and communications technology (ICT) products in 2022 reached an all-time high of USD 233.3 billion, up 2.5 percent from 2021.Despite the protracted Russia-Ukraine war and global economic slowdown, ICT exports achieved a trade surpl... 2023-01-13
Trade Minister attends 16th Trade Advisory Committee Meeting Minister for Trade Dukgeun Ahn attended the 16th Trade Advisory Committee meeting on January 11 in Seoul and held public-private joint discussions on the future global trade landscape and Korea’s response measures.Trade Minister Ahn remarked that Korea, an exports-based open economy, will continue to face challenges amid the worldwide rise in... 2023-01-13
Korea and U.S. discuss critical minerals and energy cooperation Trade, Industry and Energy 2nd Vice Minister Park Il-jun met with Jose W. Fernandez, U.S. Under Secretary for Economic Growth, Energy, and the Environment, on January 10 at the Government Complex Seoul to discuss cooperation in critical minerals, energy resources, and support for Korean companies’ exports and investment.Vice Minister Park emp... 2023-01-11
Korean shipbuilders lead high value-added, eco-friendly market in 2022 The Ministry of Trade, Industry and Energy (MOTIE) announced on January 5 that South Korea’s shipbuilding industry won home 37 percent (15.6 million compensated gross tonnage (CGT), USD 45.3 billion) of all orders worldwide. Korea’s market share grew 4 percent to 37 percent in 2022, which is meaningful considering the 22 percent decreas... 2023-01-05