Ministry of Trade, Industry and Energy

MOTIE and U.S. Bureau of Industry & Security discuss industrial security cooperation

Trade, Industry and Energy Vice Minister Youngjin Jang met with Alan F. Estevez, U.S. Under Secretary of Commerce for Industry and Security, on October 24 in Seoul to discuss semiconductor export control, sanctions against Russia, multilateral export controls and other bilateral trade issues. Vice Minister Jang assessed that Korean companies’ investment and management uncertainties of operating in China have been mitigated by the U.S.’ designation of Samsung Electronics’ and S date2023-10-26

Vice Minister attends Carbon Korea 2023 opening ceremony

Trade, Industry and Energy Vice Minister Youngjin Jang attended the opening ceremony of Carbon Korea 2023 on October 24 at the aT Center in Seoul.   Vice Minister Jang awarded medals of honor for Government commendation to persons that contributed to the development of the carbon materials industry, attended the MOU signing ceremony between Korean and U.S. carbon composite materials certification for aircrafts and toured major exhibition booths.   The ceremony was attended by vario date2023-10-26

MOTIE hosts Carbon Korea 2023

Carbon Korea 2023, hosted by the Ministry of Trade, Industry and Energy (MOTIE) and co-organized by the Korea Carbon and Nano Industry Association and Korea Carbon Industry Promotion Agency, is being held through October 24-26 at the aT Center in Seoul. Now in its third year, Carbon Korea 2023 hosts various events under the theme of “Carbon Materials, Toward a Sustainable Future”, including exhibitions, conferences and an MOU signing ceremony between Korean and U.S. institutions. T date2023-10-26

Korea and Vietnam discuss summit follow-up measures

Trade, Industry and Energy Vice Minister Youngjin Jang held a meeting on October 17 in Seoul with Tran Tuan Anh, head of the Vietnamese Communist Party Central Committee's Economic Commission, and discussed follow-up measures to the Korea-Vietnam summit, including trade, investment, critical minerals supply chain and carbon neutrality. date2023-10-24

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 at Seoul Air Base on the joint development of high-altitude, ultrahigh-resolution and wide-swath radar system for surveillance patrol of unmanned air vehicles.   The ceremony was attended by Huneed Technologies Chairman Eugene Kim date2023-10-19

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