Ministry of Trade, Industry and Energy

Korean and U.S. firms to jointly develop advanced air radar system

Trade, Industry and Energy Vice Minister Youngjin Jang attended the ceremony for the signing of the memorandum of understanding (MOU) between Korea's defense firm Huneed Technologies and U.S.-based General Atomics Aeronautical Systems Inc. (GA-ASI) on October 18 in Seoul on the joint development of a radar system for unmanned air vehicles. As per the MOU, the two companies will be jointly developing a high-altitude, ultrahigh-resolution and wide-swath radar system for surveillance patrol of unm date2023-10-18

Korea's auto exports grow 35.8% by Q3

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 18 that Korea’s automobile export value for September reached USD 5.2 billion (up 9.5 percent year-on-year). The accumulated value of automobile exports from January to September in 2023 reached $52.1 billion (up 35.8 percent), an all-time high for the three quarters. The export value of eco-friendly vehicles accumulated from January to September hit $18 billion, already surpassing the $16.1 billion exported in total date2023-10-18

Korea raises concerns over EU’s decision to fully regulate PFAS

In response to the proposed restriction of all per- and polyfluoroalkyl substances (PFAS) by the European Union (EU)'s European Chemicals Agency (ECHA), the Ministry of Trade, Industry and Energy (MOTIE) and the Korea Agency for Technology and Standards (KATS) submitted comments to the ECHA and the World Trade Organization's Technical Barriers to Trade (WTO TBT) Enquiry Point, respectively on September 25. PFAS are known to be persistent in the environment and human body because they are not ea date2023-10-04

Korea's retail industry grows 3.3% in August

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 26 that Korea’s retail sales for August gained an overall growth of 3.3 percent year-on-year. Offline sales declined by 1.2 percent as Chuseok holidays are due to arrive 19 days later than they did last year (September 10, 2022), with hypermarket chain and department store sales sliding 8.4 percent and 4.9 percent, respectively. Online sales enjoyed growth, notably in services/other (up 13.3 percent), food products date2023-09-27

Amendments to Industrial Technology Protection Act approved at cabinet meeting

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 25 that amendments to the “Act on Prevention of Divulgence and Protection of Industrial Technology” were approved at the cabinet meeting that day. The primary purpose of the amendments is to strengthen the protection of national core technologies. The revisions now categorize individuals with dual citizenship as foreigners, expanding the scope of subjects for national core technology exports and overseas merge date2023-09-27

Minister Bang makes first Exporter Visiting Group stop at Hyundai Asan Plant

Trade, Industry and Energy Minister Bang Moon Kyu visited the Hyundai Asan Plant on September 26 for the launching of the Exporter Visiting Group as part of Minister Bang’s first stride towards export growth for the second half of 2023.   The Exporter Visiting Group is a program launched by the Ministry of Trade, Industry and Energy (MOTIE) that aims to uncover export challenges by taking the initiative in communicating with each business sector’s associations, large corporati date2023-09-26

Minister Bang makes first Exporter Visiting Group stop at Hyundai Asan Plant

Trade, Industry and Energy Minister Bang Moon Kyu visited the Hyundai Asan Plant on September 26 for the launching of the Exporter Visiting Group (“Group”) as part of Minister Bang’s first stride towards export growth for the second half of 2023. The Exporter Visiting Group is a program launched by the Ministry of Trade, Industry and Energy (MOTIE) that aims to uncover export challenges by taking the initiative in communicating with each business sector’s associations, l date2023-09-26

Korea and U.S. hold 2nd Advanced Industry & Technology Cooperation Forum

Trade, Industry and Energy Vice Minister Youngjin Jang attended the 2nd Korea-U.S. Advanced Industry & Technology Cooperation Forum, held together by MOTIE and the U.S. Department of Commerce on September 21 at the Grand Hyatt Seoul to seriously push forward bilateral cooperation in high-tech industries and personnel exchange.   In addition to U.S. Deputy Secretary of Commerce Don Graves, approximately 300 experts of both countries’ industries, academia and R&D attended the date2023-09-21

Korea and U.S. hold 2nd Advanced Industry & Technology Cooperation Forum

The Ministry of Trade, Industry and Energy (MOTIE) and the U.S. Department of Commerce held the 2nd Korea-U.S. Advanced Industry & Technology Cooperation Forum on September 21 at the Grand Hyatt Seoul with aim to seriously push forward bilateral cooperation in high-tech industries and personnel exchange. At the forum, large numbers of both countries’ experts in industry, academia and R&D participated in discussions on semiconductor cooperation measures, industrial technology secur date2023-09-21

Korea and Japan hold 1st Green Steel Joint Seminar

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 21 that Korea Iron & Steel Organization (KOSA) and the Japan Iron and Steel Federation (JISF) co-hosted the 1st Korea-Japan Green Steel Joint Seminar that day at InterContinental Seoul COEX. With approximately 130 participants from both countries’ governments, industries and expert fields, the seminar focused on deeper discussions on green steel to address the need for bilateral cooperation confirmed during the date2023-09-21