Ministry of Trade, Industry and Energy
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MOTIE to support global market entry of middle-market enterprises
Trade, Industry and Energy Vice Minister Park Jin-kyu attended a launching ceremony for the business club organized to help domestic middle-market enterprises enter the global market, on June 15. The Ministry selected 50 middle-market enterprises to begin with, and plans to discover 300 companies by 2024 to support local businesses with overseas ma...
Korea’s ICT industry exports $17.7 billion worth of goods in May
The Ministry of Trade, Industry and Energy announced on June 14 that Korea’s information and communications technology (ICT) industry exported $17.7 billion (up 27.4 percent) worth of goods in May. Imports climbed up 17.7 percent to $10.5 billion, and the trade balance was a surplus of $7.2 billion. Outbound shipments of all major products ex...
Auto exports in May expand 57.5%
The Ministry of Trade, Industry and Energy announced on June 11 that Korea’s automobile output and exports in May grew 10.9 percent and 57.5 percent, respectively. Meanwhile, domestic sales contracted 10.1 percent. The number of vehicles produced by Korean automakers went up 10.9 percent to 256,272 units. The growth in automobile production w...
Trade Minister Yoo holds committee meeting with trade officials
Trade Minister Yoo Myung-hee (second from the right) held a committee meeting with trade officials at the government complex in Sejong, on June 9, to discuss issues such as the WTO vaccine intellectual property waiver.
Minister Moon discusses carbon neutrality with state-run utility firms
Trade, Industry and Energy Minister Moon Sungwook (center) visited the Korea Electric Power Corporation (KEPCO) headquarters, on June 10, and met with representatives from state-run utility firms to discuss response measures for the country’s commitment to go carbon neutral by 2050. Minister Moon emphasized the need for comprehensive innovati...
Minister Moon attends Steel Day commemoration event
Trade, Industry and Energy Minister Moon Sungwook attended the 22nd Steel Day commemoration event at the POSCO Center in Seoul, on June 9, and discussed pending issues in the domestic steel industry with experts. The government and the industry agreed to work closely together to stabilize supply and demand for steel and strengthen the industry&rsqu...
Minister Moon meets with local battery makers at industry fair
Trade, Industry and Energy Minister Moon Sungwook visited InterBattery 2021, a three-day industry exhibition showcasing next-generation battery products and technologies held in Seoul, on June 9, and met with local battery makers afterwards. Minister Moon promised active support for domestic companies amid fierce competition in the global el...
Trade Minister Yoo meets with APEC ministers
Trade Minister Yoo Myung-hee attended a virtual meeting of Asia Pacific Economic Cooperation (APEC) ministers, on June 5, and the ministers agreed to join efforts to overcome COVID-19 and support the rules-based multilateral trading system. Trade Minister Yoo said that Korea will make active contributions to accelerate the distribution of CO...
Vice Minister Park visits COVID-19 vaccine manufacturing site for clinical trials
Trade, Industry and Energy Vice Minister Park Jin-kyu (right) made an on-site visit to the Animal Cell Culture Substantiation Center, a manufacturing facility for COVID-19 vaccines for clinical trials, in Andong, on June 2. MOTIE has established facilities and equipment for consignment production of vaccines according to international standa...
Minister Moon encourages local hydrogen companies
Trade, Industry and Energy Minister Moon Sungwook visited the plant of Yuhan Precision, a local maker of bipolar plates used in fuel cell electric vehicles (FCEVs) in Asan, Chungnam, on June 1, and met with representatives from 11 hydrogen-specialized companies under the Hydrogen Act. Minister Moon encouraged the companies’ efforts in ...