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Industry
Korea's accumulated auto exports hit record-breaking $64.5 bln in November
The Ministry of Trade, Industry and Energy (MOTIE) announced on December 14 that Korea’s automobile export value for January-November this year in accumulation reached a record-breaking USD 64.5 billion, and the annual automobile export value for 2023 is anticipated to surpass $70 billion for the first time in auto export history. November export value for automobiles also recorded a monthly all-time high of $6.53 billion, surpassing the previous all-time high of $6.50 billion in March th date2023-12-15
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Industry
Korea's ICT exports grow 7.6% in November
The Ministry of Trade, Industry and Energy (MOTIE) announced on December 14 that Korea's exports and imports of information and communications technology (ICT) goods for November recorded USD 17.9 billion (up 7.6 percent year-on-year) and $11.4 billion (down 10.9 percent), respectively. The trade balance stood at a surplus of $6.4 billion. ICT exports snapped the losing streak after 17 months of decline as semiconductor exports posted growth for the first time in 16 months. By item, semiconduc date2023-12-15
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Industry
MOTIE holds supply chain strategy meeting
Trade, Industry and Energy Minister Bang Moon Kyu chaired the Industrial Supply Chain Strategy Meeting on December 13 at POSCO Future M, the sole producer of natural graphite anodes in Korea, where the Ministry of Trade, Industry and Energy (MOTIE) presented the Industrial Supply Chain Strategy for reducing the import dependence of critical supply chain items on the occasion of enforcing the special act for stabilizing MPE (materials, parts, equipment) industries and supply chains. date2023-12-14
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Industry
Minister Bang discusses Korea's chip industry future with young business leaders
Trade, Industry and Energy Minister Bang Moon Kyu visited the Samsung Electronics Pyeongtaek Campus on December 14 to chair a conference discussing industry issues and challenges with young business leaders and inspected the semiconductor production facilities. The conference was attended by representatives of Samsung Electronics, FRD, GigaLane, OPENEDGES Technology, Mobilint, Rebellions and other fabless semiconductor companies and MPE (materials, parts, equipment) businesses leading the expa date2023-12-14
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Industry
Korea and Netherlands to bolster supply chain cooperation on key items
The Ministry of Trade, Industry and Energy (MOTIE) signed a memorandum of understanding (MOU) for supply chain cooperation on key items with the Netherlands on the occasion of President Yoon Suk Yeol’s state visit through December 11-14. The two countries plan to launch monitoring collaboration for joint response to the realignment of global supply chains concerning semiconductors and other advanced industries, for which a key item supply chain dialogue channel will be installed at the d date2023-12-14
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Industry
MOTIE announces supply chain strategy to halve critical items' import dependence by 2030
Trade, Industry and Energy Minister Bang Moon Kyu chaired the Industrial Supply Chain Strategy Meeting on December 13 at POSCO Future M, the sole producer of natural graphite anodes in Korea, where the Ministry of Trade, Industry and Energy (MOTIE) presented the Industrial Supply Chain Strategy for reducing the import dependence of critical supply chain items on the occasion of enforcing the special act for stabilizing MPE (materials, parts, equipment) industries and supply chains. Considering date2023-12-13
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Industry
Korea bolsters chip cooperation with the Netherlands during state visit
Minister for Trade Dukgeun Ahn visited ASML Headquarters located in Veldhoven, Netherlands, on December 12 on the occasion of President Yoon Suk Yeol's state visit to attend the Korea-Netherlands Semiconductor Business Conference where both countries’ major chip companies’ representatives attended. At the event, the trade chief signed the memorandum of understanding (MOU) on the establishment of the Korea-Netherlands Advanced Semiconductor Academy with Geoffrey van Leeuwen (VVD), the date2023-12-13
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Industry
Korea to boost critical minerals supply chain and used battery industry
The Korean government announced during the Emergency Economic Ministerial Meeting held on December 13 measures for strengthening the industrial competitiveness of Korea’s secondary batteries over their entire life cycle. The measures aim to help maintain the global competitiveness of Korea's secondary battery industry as competition is intensifying with major countries’ efforts to secure the secondary battery supply chain, such as measures like the U.S.’ inflation reduction act date2023-12-13
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Industry
Digital trade experts from Korea, China and Japan discuss digital trade policies and major issues
Trade, Industry and Energy Deputy Trade Minister Yang Byeong-nae attended the International Seminar on Digital Trade on December 8 at Korea University, held to seek measures for the development of digital trade rules with a focus on the Northeast Asian region, where there are countries strongly competitive in information and communications technology (ICT) and also closely tied to Korea in terms of geopolitics and trade. Hosted by the International Economic Law Association of Korea, organized date2023-12-08
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Industry
Korea and Vietnam to push critical minerals supply chain cooperation in earnest
Trade, Industry and Energy Minister Bang Moon Kyu met with Vietnam’s Industry and Trade Minister Nguyen Hong Dien on December 7 at the Shilla Seoul to hold the 13th Korea-Vietnam Industrial Joint Committee and 7th Korea-Vietnam FTA Joint Committee meetings, where they discussed measures for stronger economic cooperation. During the Industrial Joint Committee meeting, the two leaders agreed to push forward the establishment of a critical minerals supply chain center and cooperati date2023-12-07