Ministry of Trade, Industry and Energy

Korea's ICT trade records surplus of $0.9 billion in January

The Ministry of Trade, Industry and Energy announced on February 14 that Korea's exports and imports of information and communications technology (ICT) goods in January recorded USD 13.1 billion (down 33.2 percent year-on-year) and $12.2 billion (down 1.1 percent), respectively, and the trade balance stood at a surplus of $0.9 billion. The decline in exports is attributable to the global economic downturn and continued slump across the semiconductor industry. By item, shipments of major export date2023-02-14

MOTIE holds 1st Trade Industry Forum to discuss major tasks for exports growth

Trade, Industry and Energy Minister Lee Chang-yang presided the first Trade Industry Forum for 2023 on January 13 at the Korea International Trade Association (KITA) in Seoul together with KITA Chairman Koo Ja-yeol to forecast this year’s economic and trade environment and discuss the 10 key tasks for reaching positive growth in exports and investment in 2023. Government officials, relevant institutions' personnel and academia experts attended the forum. Minister Lee assessed that “ date2023-02-14

MOTIE holds 1st Trade Industry Forum

Trade, Industry and Energy Minister Lee Chang-yang presided the 1st Trade Industry Forum on February 13 held at Korea International Trade Association (KITA) in Seoul together with KITA Chairman Koo Ja-yeol to share forecasts on this year’s global economy and trade environment and to discuss major tasks for achieving positive exports growth in 2023.   Minister Lee gave an opening message and led discussions on Korea’s 10 major trade tasks and global economic prospects for 2023. date2023-02-13

MOTIE attends MSP meeting for critical minerals supply chain

The Ministry of Trade, Industry and Energy (MOTIE), as part of the Korean delegation, attended on February 7 the Mineral Security Partnership (MSP) meeting presided by the U.S. Department of State on occasion of the Investing in African Mining Indaba conference (February 6-9) held in Cape Town, South Africa. The Korean delegation was led by the 2nd Vice Minister of the Ministry of Foreign Affairs (MOEF), and included representatives of relevant institutions like Korea Mine Rehabilitation and Mi date2023-02-08

Korea and EU discuss major trade issues

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin met with Maria Martin-Prat de Abreu, Deputy Director-General of the European Commission's Directorate-General for Trade, on February 6 to discuss Korea-EU trade issues, bilateral digital trade cooperation measures and joint response to the U.S. Inflation Reduction Act (IRA). date2023-02-07

Korea and EU discuss major trade issues

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin met with Maria Martin-Prat de Abreu, Deputy Director-General of the European Commission's Directorate-General for Trade, on February 6 to discuss Korea-EU trade issues, bilateral digital trade cooperation measures and joint response to the U.S. Inflation Reduction Act (IRA). Deputy Trade Minister Jeong stated that the Korea-EU partnership is important and emphasized the importance of their close cooperation amid ris date2023-02-07

MOTIE activates control tower for EU trade issues

Minister for Trade Dukgeun Ahn presided the EU Trade Issues Task Force (TF) meeting on February 2 at K-SURE in Seoul, which was followed by the first pan-ministerial EU CBAM (Carbon Border Adjustment Mechanism) Response TF meeting. The EU Trade Issues TF was launched to serve as a comprehensive control tower assessing and supporting the impact on Korean industries caused by major bills moved forward in the EU, and to share information on their progress with participation of industry-academia ex date2023-02-07

Trade Minister attends EU CBAM Response TF launching ceremony

Minister for Trade Dukgeun Ahn attended on February 2 at K-SURE the launching ceremony of the pan-ministerial EU CBAM (Carbon Border Adjustment Mechanism) Response Task Force (TF) formed to facilitate inter-ministerial cooperation and specific response measures.   The Trade Minister gave an opening message and led discussions on challenges facing exporting companies and relevant ministries' response measures.   The meeting was attended by officials of relevant ministries, includi date2023-02-03

MOTIE signs investment MOU with leading ALD equipment company

Trade, Industry and Energy Minister Lee Chang-yang, on February 2, signed an investment cooperation memorandum of understanding (MOU) with Benjamin Loh, the CEO of ASM International, a world-leading Dutch headquartered multinational corporation specializing in atomic layer deposition (ALD) for semiconductors, regarding cooperation to expand the existing R&D center and build a second ALD plant that will utilize new processes. date2023-02-03

MOTIE signs investment MOU with leading ALD equipment company

Trade, Industry and Energy Minister Lee Chang-yang, on February 2, signed an investment cooperation memorandum of understanding (MOU) with Benjamin Loh, the CEO of ASM International, a world-leading Dutch headquartered multinational corporation specializing in design and manufacturing of atomic layer deposition (ALD) and semiconductor wafer processing equipment. ASM will decide by this year whether to expand the R&D center and build a second ALD plant in Korea that will utilize new processe date2023-02-03