Ministry of Trade, Industry and Energy

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

“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

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

Government to nurture Free Economic Zones to serve as advanced global business base

The Korean government plans to create an Advanced Global Business Base for attracting KRW 100 trillion worth of domestic and overseas investment and creating 0.45 million job openings over the next 10 years. With these goals in view, the Government reviewed and deliberated on the draft for the 3rd Free Economic Zone (FEZ) Basic Plan during the 138th FEZ Committee meeting on December 21. The FEZ Basic Plan is a legal plan of the highest status established every five years for presenting the basi date2023-12-22

Vice Minister attends AI & Autonomous Manufacturing Innovation Strategy Forum

Trade, Industry and Energy Vice Minister Youngjin Jang attended the “Artificial Intelligence (AI) and Autonomous Manufacturing Innovation Strategy Forum” on December 21 at the Korea Chamber of Commerce and Industry (KCCI) in Seoul and gave a congratulatory message. The forum was attended by various industry, academia and R&D experts on AI, including Korea Evaluation Institute of Industrial Technology (KEIT) President Chun Yoon-jong, National Academy of Engineering of Korea (NAEK date2023-12-22

"AI" and "autonomous manufacturing" rise as keywords in discussing Korea's future of manufacturing

The Ministry of Trade, Industry and Energy (MOTIE) hosted the “Artificial Intelligence (AI) and Autonomous Manufacturing Innovation Strategy Forum” on December 21 at the Korea Chamber of Commerce and Industry (KCCI) in Seoul, attended by approximately 150 industry experts. Autonomous manufacturing, dubbed the “future of manufacturing”, refers to the future productivity environment based on the utilization of AI-based robotics and manufacturing facilities and equipment ac date2023-12-21

Minister stresses importance of amending laws and sentencing guidelines in preventing tech leaks

Trade, Industry and Energy Minister Bang Moon Kyu chaired the 47th Industrial Technology Protection Committee meeting on December 20 and highlighted that for the protection of industrial technology, it is important to impose strict punishment on those that commit technology leak crimes, and that it is necessary that the industrial technology protection laws be swiftly amended and sentencing guidelines be adjusted to better reflect reality. The meeting was this year’s seventh and last Comm date2023-12-21

MOTIE announces outcome of KNCP's arbitration procedures between Chanel Korea's labor union and management

The Ministry of Trade, Industry and Energy (MOTIE) held the Korean National Contact Point (KNCP) Committee meeting on December 19 and announced the adoption of the final statement issued over the complaint filed by the Chanel Korea labor union against its management in accordance with the OECD Guidelines for Multinational Enterprises, and closed the case. Chanel Korea’s labor union filed a complaint to KNCP on December 10 for the management’s alleged failure to take adequate measure date2023-12-20

Korea to push forward transition to clean hydrogen ecosystem

The Korean government held the sixth Hydrogen Economy Committee meeting on December 18 at the Lotte Hotel Seoul, chaired by Prime Minister Han Duck-soo, to announce major policies for accelerating the transition to a clean hydrogen ecosystem and nurturing the hydrogen industry. During the meeting, attendees discussed four main policy agendas: clean hydrogen certification system management measures, strategy for nurturing the hydrogen industry’s MPE (materials, parts, equipment) sectors, m date2023-12-20

Vice Minister meets with French Minister for Foreign Trade, Attractiveness and French Nationals Abroad

Trade, Industry and Energy Vice Minister Youngjin Jang met Olivier Becht, the French Minister for Foreign Trade, Attractiveness and French Nationals Abroad, on December 19 in Seoul to request cooperation in trade issues, including France’s electric vehicle (EV) subsidies, and discussed measures for expanding industrial cooperation in aerospace, R&D and carbon-free energy, such as nuclear power. date2023-12-20