Ministry of Trade, Industry and Energy

Minister Lee reviews future tasks of battery industry

Trade, Industry and Energy Minister Lee Chang-yang visited the LG Energy Solution plant in Ochang on May 25 to review future tasks of the secondary battery industry. According to the Korea Institute for Industrial Economics & Trade (KIET), battery and materials are forecast to enter Korea’s top-five tier of export items within five years. Cathode materials’ export value grew 2.6-fold last year, and already doubled in 2023 year-on-year. Battery exports reached record-breaking l date2023-05-30

MOTIE holds Automobile Parts Industry Strategy Roundtable

Trade, Industry and Energy Minister Lee Chang-yang chaired the Automobile Parts Industry Strategy Roundtable on May 23 at the Four Seasons Hotel Seoul, which was held to support the auto parts industry’s response to the automobile industry’s paradigm shift towards electrification, intellectualization and autonomous driving. Prior to the Roundtable, Minister Lee attended the memorandum of understanding (MOU) signing ceremony, where the Korea Auto Industries Corp. Association (KAICA) date2023-05-26

MOTIE holds Automobile Parts Industry Strategy Roundtable

Trade, Industry and Energy Minister Lee Chang-yang chaired the Automobile Parts Industry Strategy Roundtable on May 23 at the Four Seasons Hotel Seoul and announced support measures for future car transition and exports, as follow-up to President Yoon Suk-yeol’s recent call for measures to strengthen Korea’s automobile parts industry competitiveness to enable timely response to the future car transition and the paradigm shift to electrification, intellectualization and autonomous dri date2023-05-26

Korea and Indonesia launch E-Mobility Cooperation Center

Trade, Industry and Energy 1st Vice Minister Jang Young-jin met with Dr. Dadan Kusdiana, Indonesia’s Director General of the New Renewable Energy and Energy Conservation under the Ministry of Energy and Mineral Resources, on May 15 in Jakarta, where they held a signboard hanging ceremony for launching of the Korea-Indonesia E-Mobility Cooperation Center. The Ministry of Trade, Industry and Energy (MOTIE) plans to supply Indonesia with 65 electric vehicles (EVs), 90 electric two-wheeled ve date2023-05-22

Minister Lee chairs Display Industry Innovation Strategy Roundtable

Trade, Industry and Energy Minister Lee Chang-yang held the Display Industry Innovation Strategy Roundtable on May 18 at the Courtyard by Marriott Seoul Namdaemun and led discussions on Korea’s display industry development and strategy directions. Minister Lee remarked that “the Display Industry Innovation Strategy announced today is significant in that it is the outcome of deliberation and a first step taken by the Government and the private sector to reclaim the top spot in the gl date2023-05-22

MOTIE announces innovation strategy for Korea's display industry

Trade, Industry and Energy Minister Lee Chang-yang held the Display Industry Innovation Strategy Roundtable on May 18 at the Courtyard by Marriott Seoul Namdaemun and led discussions on Korea’s display industry development and strategy directions. Amid intensifying competition in the global display market, public and private sectors are joining hands for Korea to reclaim the world’s no. 1 display powerhouse position by securing super gap technology. The private sector aims to invest date2023-05-19

Korea's automobile export value hits all-time high of $6.2 billion in April

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 16 that Korea’s automobile exports reached a total of USD 23.2 billion this year (January- April) with a trade surplus of $17.7 billion, making automobiles the largest contributor to improving Korea’s total trade balance. Export value for the month of April also hit an all-time high of $6.2 billion (up 40.3 percent year-on-year). Automobile production, domestic sales and exports for April grew 24.7 percent to 382,26 date2023-05-18

Minister Lee visits semiconductor component manufacturer

Trade, Industry and Energy Minister Lee Chang-yang visited Haesung DS, a semiconductor MPE (materials, parts, equipment) manufacturer located in Changwon-si, South Gyeongsang Province, on May 15 and received a company briefing from CEO Cho Byung-hak and toured IC package substrate production facilities and encouraged employees. date2023-05-17

Minister Lee discusses measures to build competitive nuclear industry ecosystem

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 15 that Korea’s nuclear power industry ecosystem has been fully normalized, as President Yoon Suk-yeol had promised during a conference with nuclear industry firms after taking office that utmost support will be given to restore the nuclear industry and to swiftly resume construction for Shin Hanul 3 and 4. The Korean government is currently poised to assist the industry, not just to restore and normalize the nuclear date2023-05-17

Minister Lee discusses measures to bolster shipbuilding industry with shipyard CEOs

Trade, Industry and Energy Minister Lee Chang-yang and Financial Services Commission (FSC) Chairman Kim Joo-hyun held a conference with the CEOs of large and mid-sized shipbuilders and parts manufacturers on May 10 at the Hotel Hyundai Ulsan and announced measures to expand financial support for Korea’s shipbuilding industry. This conference was held on the occasion of the first anniversary of President Yoon Suk-yeol taking office to gather industry opinions, assess Government policies an date2023-05-15