Ministry of Trade, Industry and Energy

Anti-dumping duties on stainless steel bars terminate after 2 decades of imposition

The Korea Trade Commission under the Ministry of Trade, Industry and Energy (MOTIE) announced on January 21 that the imposition of anti-dumping duties on Japanese, Indian and Spanish stainless steel bars initiated since July 30, 2004, is to end on January 22, 2024, as SeAH Changwon Integrated Special Steel and other domestic producers have not requested for review. Moreover, as domestic producers have likewise not asked for a review on Taiwanese and Italian stainless steel bars, on which anti-d date2024-01-22

Korea and Indonesia to bolster cooperation in battery supply chain

Trade, Industry and Energy Deputy Trade Minister Yang Byeong-nae met Septian Hario Seto, the Deputy Minister for Indonesia’s Coordinating Ministry for Maritime and Investment Affairs, on January 17 at Signiel Seoul to discuss measures to strengthen economic cooperation between Korea and Indonesia. Viewing that bilateral relations have grown closer than ever through the four summit meetings following President Yoon Suk Yeol’s taking office, Deputy Minister Yang highlighted that he lo date2024-01-17

Minister Ahn visits major semiconductor exporter

Trade, Industry and Energy Minister Dukgeun Ahn visited SK Hynix, a major chip producer in Korea, on January 11 to inspect the semiconductor production lines and listened to difficulties experienced by industry personnel. The meeting was attended by representatives of related institutions and businesses, including the Korea Trade-Investment Promotion Agency (KOTRA), K-SURE, Korea Semiconductor Industry Association (KSIA), TEMC and Jusung Engineering. date2024-01-12

Korea Trade Commission launches investigations into alleged patent infringement of Chinese secondary batteries and cathodes

The Korea Trade Commission ('Commission') held the 444th Trade Commission Meeting on January 11 at the Government Complex Sejong for launching investigations on the alleged patent infringement of NCM811 cathode materials produced in China and of smartphones embedded with Chinese secondary batteries. The investigations on the smartphone secondary batteries were requested by another Chinese firm that supplies China-made smartphones and Semiconductor Energy Laboratory Co., a Japanese importer and date2024-01-12

Semiconductors to spearhead Korea's export growth in 2024

Trade, Industry and Energy Minister Dukgeun Ahn visited SK Hynix, one of Korea’s major semiconductor producers, on January 11 and listened to the challenges experienced by industry personnel and inspected production lines firsthand, refreshing the resolution to promote Korea’s exports this year on the heels of the visit to a major automaker at Pyeongtaek Port on his first outing after taking office. At the conference held at SK Hynix, Minister Ahn stated that “despite the glob date2024-01-11

Minister Ahn visits KITA

Trade, Industry and Energy Minister Dukgeun Ahn visited the Korea International Trade Association (KITA) on January 10 after taking post and held talks with KITA Chairman Koo Ja-yeol to discuss measures for close communication between public and private sectors with top policy priority on promoting exports. date2024-01-11

Minister Ahn makes first stop at KITA in initiating cooperation with leading economic entities

Trade, Industry and Energy Minister Dukgeun Ahn visited the Korea International Trade Association (KITA) on January 10 and held talks with KITA Chairman Koo Ja-yeol. The visit is part of the minister’s aim to strengthen communication with Korea’s six major economic entities after taking post, emphasizing close communication between public and private sectors with utmost policy priority on promoting exports. Minister Ahn noted the need for the public and private sectors to work as &l date2024-01-10

FDI pledges to Korea in 2023 reach an all-time high of $32.7 billion

The Ministry of Trade, Industry and Energy announced on January 3 that the annual foreign direct investment (FDI) pledges reached a new high in 2023 at USD 32.7 billion, marking a 7.5 percent growth from the previous year. The FDIs that actually arrived in Korea over the same period grew by 3.4 percent growth from the previous year to $18.8 billion, also setting a new record. Korea achieved these records despite the poor global FDI performance in 2023 thanks to heavy investments in high tech in date2024-01-05

Korea's exports grow 5.1% in December

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 1 that Korea’s export value for the month of December advanced 5.1 percent year-on-year to this year’s monthly highest of USD 57.7 billion. Imports shrank 10.8 percent to $53.2 billion, and the trade balance stood at a surplus of $4.5 billion. By item, semiconductor exports leaped 21.8 percent and grew for the second consecutive month, reaching the highest for this year at $11.0 billion and continuing the recove date2024-01-02

Korea Trade Commission gives final decision on anti-dumping investigations on coated printing paper

The Korea Trade Commission under the Ministry of Trade, Industry and Energy (MOTIE) held the 443rd Trade Commission meeting on December 21 and announced its final decision to impose anti-dumping duties (8.22-16.23%) on coated printing paper imported from Japan, China and Finland for an extension of five years after holding stakeholders’ meetings, public hearings and local inspections in response to two Korean paper manufacturers’ request for a retrial since the anti-dumping date2023-12-22