Ministry of Trade, Industry and Energy

Minister Bang discusses R&D cooperation with Boeing’s Senior Vice President

Trade, Industry and Energy Minister Bang Moon Kyu met with Boeing’s Senior Vice President Stephen E. Biegun on November 14 in San Francisco to discuss wider cooperation in R&D and supply chain. date2023-11-20

Outdoor mobile robots now permitted for business use

The Ministry of Trade, Industry and Energy (MOTIE) and the National Police Agency announced on November 16 that following the implementation of the revised Intelligent Robots Act starting November 17, it is now permissible to engage in new business activities like delivery and patrolling services utilizing outdoor mobile robots. Until now, outdoor mobile robots were prohibited from operating on sidewalks. However, this has changed with the recent amendments and implementations of the Intelligen date2023-11-17

Korean and U.S. institutions join hands for technology cooperation in advanced industries

Trade, Industry and Energy Minister Bang Moon Kyu met with Stanford University President Richard Saller and other professors in the field of bio and robotics, on November 17 on the occasion of attending the Asia-Pacific Economic Cooperation (APEC) summit meetings, and discussed measures for expanding the scope of Korea-U.S. cooperation in advanced technologies. During the meeting, Minister Bang laid out three measures he plans to carry out next year: drastically increase support for internation date2023-11-17

Korea's auto exports for Jan-Oct surpass last year's record

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 15 that Korea’s accumulated automobile export value from January through October nears USD 58 billion, already surpassing the annual export value of last year ($54.1 billion), a previous all-time high, and also exceeding the $57 billion that was set (announced May 23) as this year’s total automobile export target. The monthly automobile export value has been on a growth streak for 16 consecutive months since Ju date2023-11-16

Korea's ICT exports fall 4.5% in October

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 14 that Korea's exports and imports of information and communications technology (ICT) goods for October recorded USD 17.1 billion (down 4.5 percent year-on-year) and $12.6 billion (down 8.3 percent), respectively. The trade balance stood at a surplus of $4.4 billion. The ICT export decline rate recorded the lowest year-on-year as the unit price of memory chips rose and their export value posted growth for the first time i date2023-11-16

MOTIE announces K-Shipbuilding Strategy for Next-Generation Market Dominance

The Ministry of Trade, Industry and Energy (MOTIE) announced the “K-Shipbuilding Strategy for Next-Generation Market Dominance” on November 15 at the emergency economy ministerial meeting and the exports and investment promotion meeting. The strategy aims to reflect on-site opinions and preemptively respond to internal and external challenges for Korea to take the lead in the next-generation shipbuilding market through a public-private joint strategy on creating future grow date2023-11-15

Korea enhances standards partnership with ASEAN for effective Korea-ASEAN Solidarity Initiative execution

With aim to successfully execute the “Korea-ASEAN Solidarity Initiative” from last year's Korea-ASEAN Summit, Korea will be strengthening its standards collaboration with ASEAN, its second-largest trade partner and the world's fifth-largest economic entity. The Korean Agency for Technology and Standards (KATS), under the Ministry of Trade, Industry and Energy (MOTIE), hosted a joint research workshop for improving standards cooperation between Korea and ASEAN on November 13. This ev date2023-11-14

Minister Bang visits Korea Sale Festa 2023

Trade, Industry and Energy Minister Bang Moon Kyu visited the Lotte Department Store in Jamsil on November 12, the first weekend of Korea Sale Festa 2023, to tour the retail stores where various discount promotion events are held and participated in a live show on autumn and winter fashion styling tips. He also asked the retail industry to make efforts for price stabilization and encouraged consumer spending. date2023-11-13

Vice Minister attends Korea Sale Festa 2023 opening ceremony

Trade, Industry and Energy Vice Minister Youngjin Jang attended the opening ceremony for Korea Sale Festa 2023 on November 10 in front of Myeongdong Theater and gave a congratulatory message and visited retail stores.   In his congratulatory message, the vice minister said that he looked forward to seeing the Festa providing the public with the opportunity to make thrifty purchases on food and household goods through a variety of discounts and promotions over the next 20 days amid the hig date2023-11-13

Korea's major retailers come together to launch Korea Sale Festa 2023

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 10 the launching of the “Korea Sale Festa 2023 (“Festa”) to be held through November 11-30, where Korea’s major retailers and manufacturers come together with the Government to boost the domestic economy by aiming for a rebound of the currently weak consumer confidence amid inflation and other difficult conditions. The Festa Committee and MOTIE have selected former national volleyball team member an date2023-11-13