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Industry
MOTIE and MSIT hold joint public forum on measures for nurturing world's largest chip cluster
The Ministry of Trade, Industry and Energy (MOTIE) and Ministry of Science and ICT (MSIT) held a joint discussion forum on measures for nurturing the world’s largest semiconductor mega cluster on January 15 with the participation of 110 civilians, composed of students, young researchers, residents of mega cluster districts and semiconductor industry workers under the theme of “Semiconductor Industry for Enriching Public Livelihood.” The “Mega Cluster” area refers t date2024-01-16
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Industry
Integrated Korean exhibition garners success at CES 2024
The Ministry of Trade, Industry and Energy (MOTIE) announced on January 14 that the Korean exhibition at Consumer Electrics Show (CES) 2024 garnered much attention from foreign buyers thanks to the integrated brand value of Korean firms and their technological innovations. Key figures of global companies, including Microsoft Chairman and CEO Satya Nadella, paid their visit to the Korean exhibition at CES 2024, in which an all-time high number of 443 Korean firms participated this year. To note, date2024-01-15
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Industry
MOTIE to roll out measures for stabilizing supply chain in 2024
Starting this year, the Ministry of Trade, Industry and Energy (MOTIE) will be launching measures to stabilize the supply chain in earnest following the Industrial Supply Chain Strategy announced on December 13. First, the ministry will drastically up the R&D budget on key supply chain items from last year’s KRW 17.6 billion to 73.9 billion won this year. Support will go towards the technological development of 29 key items like secondary battery materials and electrical and electroni date2024-01-11
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Industry
Korea surpasses initial $30 bln target for plant project orders in 2023
The Ministry of Trade, Industry and Energy (MOTIE) announced on January 8 that Korea won a total of USD 30.2 billion worth of plant project orders in 2023, surpassing the initial target of $30 billion (up 25.0 percent than the $24.2 billion won in 2022) and the highest ever in eight years since winning $36.5 billion in 2015. The target was reached on December 29 with the sealing of the $1.5 billion LNG liquefaction plant order. The overall outcome is attributable to the economic summit diplomac date2024-01-08
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Industry
Largest integrated Korean exhibition to be showcased at CES 2024
The Ministry of Trade, Industry and Energy (MOTIE) announced on January 8 that an all-time high of 443 Korean firms will be participating in the Consumer Electrics Show (CES) 2024 through January 9-12 in Las Vegas, U.S., ranking Korea as one of the largest exhibitors at the world’s biggest tech trade show, showcasing a variety of advancements in information and communications technology (ICT) and home appliances. This year’s CES theme is “All Together, All On”, signifyin date2024-01-08
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Industry
Minister pays his first official visit to an auto yard
Trade, Industry and Energy Minister Dukgeun Ahn visited the Kia Motors yard in Pyeongtaek Port on January 5. The Minister met Kia Motors CEO Jun-young Choi to discuss the status and challenges of automobile exports, after which he visited an export vessel including its bridge and other key facilities and shared words of encouragement with on-site staff. date2024-01-05
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Industry
Minister Ahn makes first official visit to auto yard after taking post
Minister of Trade, Industry and Energy Dukgeun Ahn visited Pyeongtaek Port, which has been Korea's largest port for auto exports for over 14 years (as of 2023). During his first official outing, he talked with exporters to get a better understanding of their challenges before boarding the GlOVIS SKY to see the cars to be exported. He also went a nearby coffee truck and personally served the coffee to on-site employees as a gesture of encouragement. During the visit, Minister Ahn emphasized the date2024-01-05
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Industry
Minister Chooses Airport Cargo as His First Site Visit for 2024
Trade, Industry and Energy Minister Bang Moon Kyu went to Korean Air’s Cargo Terminal 1 of Incheon International Airport as his first official site visit for 2024. Minister Bang was briefed on the current status of export logistics and operational challenges by Jeon Hyoung-wook, Vice President of Incheon International Airport Corporation, and Yoo Jong-seok, Vice President of Korean Air, before moving on to inspect the loading platform where export goods such as semiconductor devices are date2024-01-02
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Industry
“K-Shipbuilding Super Gap Tech Alliance” sets sail
The Ministry of Trade, Industry and Energy (MOTIE) hosted the launching ceremony of the “K-Shipbuilding Super Gap Tech Alliance” on December 27 at the Conrad Seoul Hotel, held jointly with the Korea Evaluation Institute of Industrial Technology (KEIT) and Korea Offshore & Shipbuilding Association (KOSHIPA). The Alliance is part of a follow-up measure to the “K-Shipbuilding Strategy for Next-Generation Market Dominance” that MOTIE announced in November, composed date2023-12-27
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Industry
Korea's retail industry grows 8.7% in November
The Ministry of Trade, Industry and Energy (MOTIE) announced December 26 that Korea’s retail sales for November advanced 8.7 percent year-on-year. Offline sales achieved a 4.5 percent growth, thanks to various discount and promotion events and the majority of items showed growth, with the exception of home appliances/culture and foreign designer labels. All types of retail channels expanded in sales. Online sales hiked 12.7 percent owing to numerous global discount events and continued c date2023-12-26