Ministry of Trade, Industry and Energy

MOTIE holds pan-ministerial meeting to review investment progress for high-tech complex

Trade, Industry and Energy Vice Minister Kang Kyungsung chaired a pan-ministerial consultative committee meeting on March 13 to coalesce efforts among local authorities, related ministries and companies for the successful establishment of the national high-tech strategic industry specialization complex (“high-tech complex”) and facilitation of corporate investment.   The committee meeting aimed at reviewing the current investment situation for the high-tech complex and its construction progress, and for local government bodies to share successful cases of other regions’ specialization complex establishment. Attendees consisted of representatives of related ministries, local authorities, Korea Electric Power Corporation (KEPCO) and K-Water.   According to local authorities’ estimations, the high-tech complex has so far secured approximately 70 trillion won in investments. Six local government bodies presented the “Specialization Complex Nurturing Plan”, including plans to allocate local governments’ budget in addition to national funding in order to accelerate the construction of basic infrastructure for power and water.   They also vowed active support in launching a talent training program and measures for low-interest loan support. Further plans include building boarding quarters for the young workforce, expanding roads connecting the high-tech complex and new cities to improve residential conditions, and mitigating regulatory burden on businesses. date2024-03-13

SK Group shares 76 patented technologies with 53 SMEs and middle-market companies

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 11 that SK Group shared 76 of its patented technologies to 53 middle-market companies and SMEs free of charge.   MOTIE's Deputy Minister for Industries and Enterprises Oh Seung-cheol attended the MOTIE-SK Group technology sharing event held this day, which was attended by representatives of 38 beneficiary companies and other relevant firms and organizations, including SK Innovation, SK Hynix, SK Telecom and Korea Institute for Advancement of Technology (KIAT).   SK Group has been launching the giveaway since 2014, transferring a total of 315 patented technologies to 197 companies so far.   Success cases of the technology sharing include ERANGTEK, a developer of wireless communication devices for signal processing, which managed to generate KRW 12.1 billion in sales to domestic and global mobile carriers and create 74 new job openings by leveraging technology freely shared by SK.   At the event, SK Group entered a memorandum of understanding (MOU) with MOTIE and KIAT expressing its commitment to continued technology sharing for the nurturing of an ecosystem for shared growth of both large and mid- and small-sized companies.   Deputy Minister Oh stated that “SK Group’s sharing of its leading technologies with other companies will serve as a great asset for SMEs and middle-market companies in building competitiveness,” and added that “POSCO Group, Samsung Electronics and public energy companies are also planning to share their technologies this year.”   Any middle-market company or SME wanting to participate in the technology sharing events slated for 2024 can apply in accordance with procedures that will be notified on websites of MOTIE (www.motie.go.kr) and KIAT (www.KIAT.or.kr).  date2024-03-11

Public and private sectors join hands for development of all-solid-state batteries

Trade, Industry and Energy Minister Dukgeun Ahn attended the public-private Battery Alliance meeting on March 11 to discuss key issues and future response measures, and Korea’s top battery makers agreed on the need for the development of next-generation battery technology.   Considered a gamechanger for the battery industry, next-generation batteries are secondary batteries made with substances different from those of existing batteries to dramatically enhance their performance and safety. Next-generation battery development in Korea, led by three major battery producers, is currently conducted on an individual company basis, but it is anticipated that the above project will help nurture an organic ecosystem incorporating all firms specializing in domestic parts, materials, equipment, and cells, as well as finished car makers. The Korean government plans to pour KRW 117.2 billion won by 2028 in developing three kinds of promising batteries: all-solid-state batteries (ASSBs), lithium metal batteries and lithium-sulfur (Li-S) batteries.   At the Alliance meeting, public and private sector representatives discussed a wide range of joint projects to launch this year. Major domestic battery producers, as well as EcoPro and L&F, are pushing investment related to lithium iron phosphate (LFP) products, for which MOTIE provided support to companies’ technology development in 2023. In 2024, MOTIE plans to support private sectors secure technologies for sodium-ion battery development.   In 2024, Korean companies intend to invest over 9 trillion won in facilities and R&D, 7.1 trillion won of which will go to facility investment. Key facilities include next-generation battery pilot lines, the 4680 battery production line, LFP cathodes production lines, and anodes production, including graphite processing.   Minister Ahn presented the following as joint public-private project tasks this year: next-generation battery technology development, low-end product development, responding to trade issues, self-sufficient supply chain building through investment, and establishing a battery cycle ecosystem. Minister Ahn said that the Alliance will be the beginning of efforts for strengthening public-private communication and cooperation in tackling these project tasks. date2024-03-11

Korea and UK deepen cooperation in international standards for quantum technologies as summit follow-up

Korean Agency for Technology and Standards (KATS) President Jin Jong-wook, under the Ministry of Trade, Industry and Energy (MOTIE), visited the British Standardization Institute (BSI) in the UK on March 11 to enter a memorandum of understanding (MOU) on the management of the ISO/IEC joint technical committee (JTC3) on quantum technologies and on the establishment of a subcommittee for standards development.   This is a part of the follow-up to the Korea-UK summit meeting (November 2023) with aim to deepen bilateral cooperation on international standards development in quantum technologies. Korea and the UK led the establishment of JTC3 in December 2023, with Korea as Chair and the UK as Secretariat, and the two countries will be able to further mutual cooperation on developing international standards in quantum technologies through this MOU.   Korea and the UK are to hold the JTC3 inaugural general meeting this May in Seoul, and the two sides discussed measures for aligning their quantum technology standards strategies and industrialization, agreeing to expand bilateral cooperation in advanced industries in the future.   Moreover, Korea signed a contribution agreement with the International Electrotechnical Commission (IEC) in Geneva as the first country to participate in the Global Impact Fund (GIF), launched to facilitate the international standards utilization of developing countries. Over the next five years, Korea plans to transfer international standards experience and knowhow to developing countries’ relevant experts and support their efforts in tackling climate change and other global issues through international standards utilization.   KATS President Jin stated that “As Invited Chair for JTC3, Korea has established a cooperation system for stronger leadership in international standards through this MOU with the Secretariat holder UK” and added that “strong support will be provided through the JTC3 general assembly slated this year in Korea to bolster the nation’s leadership in global standards development for quantum technologies, a key area for technological innovation in future advanced industries.” date2024-03-11

Korea and Sweden discuss cooperation in advanced industries and digital economy

Director General for International Trade Policy Yoon Chang-hyun at the Ministry of Trade, Industry and Energy (MOTIE) met with Maria Rosander, Director General at Sweden’s Ministry of Climate and Enterprise and Secretariat for the European Union (EU) and International Affairs, on March 7 via teleconferencing to hold the second Korea-Sweden Industrial Cooperation Committee meeting to discuss policies in advanced industries like nuclear energy and bio, as well as regulatory reform and bilateral cooperation measures.   The two sides discussed measures for cooperation in bio, nuclear energy, and digital economy, and Director General Yoon shared the system and management know-how of Korea’s regulatory sandbox.   They also agreed to expand and develop the memorandum of understanding (MOU) for Korea-Sweden Industrial Cooperation, which expires this June, to one on the Korea-Sweden Trade and Investment Promotion Framework (TIPF), which will encompass not only industries but also new trade issues in investment, supply chain, digital and carbon-free energy.   Furthermore, both sides highly assessed the Korea-Sweden Digital Economy and Trade Forum, now in its fourth year since launched in 2020, and decided that this year’s forum is to be held in Korea.   Noting that Korea and Sweden both are manufacturing powerhouses that place emphasis on innovative technology and R&D, Director General Yoon stated that efforts will continue to create synergy between Sweden’s high value-added industries and Korea’s manufacturing competitiveness. date2024-03-07

Korea and U.S. discuss chip cooperation

Deputy Minister for Trade Yang Byeong-nae held talks with John Neuffer, President and CEO of the Semiconductor Industry Association (SIA), on March 5 on the occasion of the latter’s visit to Korea.   As the representative and voice of the U.S.’ semiconductor industry, SIA has been engaging in public-private cooperation in semiconductor industry sectors with MOTIE through both bilateral and multilateral consultation channels like the Government/Authorities Meeting on Semiconductors (GAMS) and the Korea-U.S. Supply Chain and Commercial Dialogue (SCCD). Samsung, SK Hynix and a number of Korean companies are members of SIA.   Deputy Trade Minister Yang and President Neuffer discussed measures for advancing trade cooperation in semiconductors and supply chains between Korea and the U.S., as well as major policies like the U.S.’ CHIPS Act. The deputy trade chief assessed that the two countries have been closely cooperating in the semiconductor area through the Korea-U.S. summit and the trilateral Korea-U.S.-Japan summit held last year, on which they also discussed measures for expanding public-private joint cooperation on the sidelines of the first trilateral Korea-U.S.-Japan industry ministers’ meeting slated for this year.   Amid the positive prospects for AI chips and the overall semiconductor in 2024, Deputy Trade Minister Yang proposed that the two countries enhance their semiconductor industries’ global competitiveness by stepping up public-private cooperation to effectively respond to trade environment uncertainties, especially in view of the record number of elections to be held around the world this year. date2024-03-05

Korea discusses measures to bolster critical minerals cooperation with MSP partners

Resources Industry Policy Director General Peob-min Ryu at the Ministry of Trade, Industry and Energy (MOTIE) held high-level, bilateral meetings with Japanese and Canadian counterparts on March 4 in Toronto, Canada, on measures to strengthen cooperation in critical minerals on the margins of attending the Minerals Security Partnership (MSP) Chief Delegates Meeting.   First, Director General Ryu held talks with Japan’s Economy, Trade and Industry Ministry (METI) Director General Sadamichu Yuki to discuss measures for bilateral cooperation in natural resources like critical minerals, oil and gas. Noting that both Korea and Japan rely mostly on import for energy and resources, the two sides agreed on the need for cooperation in order to establish a stable energy and resources supply chain between the two countries. The two director generals decided to utilize the MSP, International Energy Agency (IEA) and other various opportunities in the future for further consultation in resources cooperation, agreeing to positively consider the prospects of establishing a regular director general-level consultation channel.   With Natural Resources Canada’s Director General Debora Yu, Director General Ryu discussed the launching of a critical minerals working level committee as part of a follow-up measure to the memorandum of understanding (MOU) entered between MOTIE and Natural Resources Canada on critical minerals supply chain cooperation, with plans to seek long-term and specific collaboration schemes through the working level committee.   In his meeting with Invest in Canda CEO Laura Broten, Director General Ryu underscored Korean firms’ high level of interest in Canada in the area of critical minerals and resources and requested the Canadian government’s interest and support towards facilitating their investment in Canada. He suggested measures for gaining tangible private sector cooperation outcomes, such as holding a business roundtable for the two countries’ critical minerals companies.   Director General Ryu also held a conference with locally operating Korean companies to gather suggestions on issues in propelling forward critical minerals projects in North America, introducing the Korean government’s business support policies and asked the Canadian government’s interest and support towards resolving issues voiced by Korean firms. He also stated that the Korean government will continue to provide support for companies in securing overseas resources through increased tax credits and loan programs. date2024-03-05

Deputy Trade Minister attends MOU ceremony for Korea-Indonesia cooperation in foundational technology talent training

Deputy Trade Minister Yang Byeong-nae attended the memorandum of understanding (MOU) signing ceremony for Korea-Indonesia cooperation in foundational technology talent training on March 4 in Jakarta, with Andi Rizaldi, Head of the Standardization and Industrial Services Policy Agency (BSKJI) of Indonesia’s Ministry of Industry and other related personnel. date2024-03-05

Deputy Trade Minister meets Head of BSKJI of Indonesia’s Industry Ministry

Dep. Trade Minister Yang Byeong-nae met Andi Rizaldi, Head of BSKJI of Indonesia’s Industry Ministry, on Mar. 4 in Jakarta and discussed talent training and other issues of interest for Korean companies locally operating in Indonesia. date2024-03-05

Deputy Trade Minister meets Indonesia’s Energy and Natural Resources Ministry Directorate General

Deputy Trade Minister Yang met with Jisman P. Hutajulu, Directorate General at Indonesia’s Energy and Natural Resources Ministry, on March 4 in Indonesia to discuss measures for expanding cooperation in EVs, critical minerals supply chain and clean energy. date2024-03-05