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Minister Sung visits rare earth permanent magnet manufacturer in Daegu
Trade, Industry and Energy Minister Sung Yunmo made an on-site visit to the plant of SunglimGroup, a local manufacturer of rare earth permanent magnets for electric vehicles in Daegu, on April 19.Minister Sung said that due to the growth of new industries and carbon neutral targets, the demand for rare metals is rising. The government will establis...
Minister Sung visits semiconductor research center at Seoul National University
Trade, Industry and Energy Minister Sung Yunmo (left) made an on-site visit to Seoul National University’s Inter-University Semiconductor Research Center, on April 14, and discussed measures to foster talents and resolve manpower shortages in the semiconductor industry. The government has recognized the importance of nurturing competitive hum...
Korea's automobile output, domestic sales, and exports grow in Q1
The Ministry of Trade, Industry and Energy announced on April 13 that Korea’s automobile output, domestic sales, and exports in the first quarter of 2021 went up 12.2 percent, 11.3 percent, and 16.9 percent, respectively. Meanwhile, for the month of March, output, domestic sales, and exports went down 9.5 percent, 0.9 percent, an...
Minister Sung meets with semiconductor industry representatives to discuss global supply chain issue
Trade, Industry and Energy Minister Sung Yunmo (center) held a meeting with local semiconductor manufacturers and industry representatives in Seoul, on April 9, to discuss countermeasures for the semiconductor industry amid disruptions in the global supply chain. Minister Sung mentioned the importance of active private investment in memory c...
Minister Sung visits ‘U-Turn’ company in Busan
Trade, Industry and Energy Minister Sung Yunmo made an on-site visit to the plant of Nova International, a local manufacturer of eco-friendly footwear in Busan, on April 1, to encourage the company’s achievement in creating jobs and new investments by reshoring its operations to Korea.The Ministry will continue with efforts to support compani...
Industry Ministry to speed up digital transformation for industrial sector
Trade, Industry and Energy Minister Sung Yunmo held a meeting with experts involving industry, academia, and research officials at Hyundai Global Service headquartered in Busan, on April 1, to discuss strategies to beef up industrial digital transformation. Under the “Digital Big-Push” strategy, the government will prepare a comprehensi...
Both offline and online retailers experience growth in February
The Ministry of Trade, Industry and Energy announced on March 25 that Korea’s overall retail sales in February rose 10.0 percent. Sales at both brick-and-mortar stores and online stores expanded, up 14.3 percent and 5.5 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 26 major retaile...
Industry Ministry to strengthen cooperation with engineering colleges
Trade, Industry and Energy Minister Sung Yunmo met with engineering deans of local universities on March 24, to discuss measures to enhance government-university cooperation and encourage innovation in engineering education.Minister Sung said the Ministry will work closely with universities to foster talented individuals in engineering and respond ...
Vice Minister Park attends MOU signing ceremony for domestic production of automotive chips
Trade, Industry and Energy Vice Minister Park Jin-kyu (center) attended a signing ceremony for the memorandum of understanding (MOU) between the Korea Automobile Manufacturers Association and the Korea Semiconductor Industry Association aimed at developing automotive chips domestically on March 17. Vice Minister Park encouraged local associations j...
Minister Sung discusses digital transformation in materials, parts and equipment sectors with industrial experts
Trade, Industry and Energy Minister Sung Yunmo met with industrial experts at the Korea Research Institute of Chemical Technology in Daejeon on March 15, to discuss digital transformation in materials, parts and equipment sectors.Minister Sung said that through the utilization of data and artificial intelligence technologies, the development of adv...