Ministry of Trade, Industry and Energy

Korea reviews preparations for World Expo 2030 Busan

The Republic of Korea’s Trade, Industry and Energy Minister Chang-Yang Lee held a meeting on August 17 in Seoul to assess the situation for the World Expo 2030 Busan and reviewed the preparation progress and upcoming schedule with relevant ministries and organizations. With approximately 100 days left until the date of final announcement of the Expo host city, meeting attendees discussed various issues, including overseas marketing, Bureau International des Expositions (BIE) schedule, com date2023-08-17

Korea seeks future growth engines in power semiconductors & battery complexes

The Republic of Korea’s Trade, Industry and Energy Minister Chang-Yang Lee visited the power semiconductor materials, parts and equipment (MPE) specialized complex in Busan and the national high-tech strategic industrial complex for secondary batteries in Ulsan on August 16 to seek measures for their further development. The Busan complex is seeing KRW 800 billion worth of corporate investment deals pushing forward efforts to claim the bridgehead role in the compound power semiconductor m date2023-08-16

Korea and U.S. hold Standards Forum as part of forward-looking partnership

The Republic of Korea’s Korean Agency for Technology and Standards (KATS), under the Ministry of Trade, Industry and Energy (MOTIE), co-hosted the Korea-U.S. Standards Forum with the American National Standards Institute (ANSI) on August 10 at Grand InterContinental Seoul, as follow-up to the two countries’ summit meeting with aim to establish a forward-looking standards partnership in the U.S.’ National Standards Strategy for Critical and Emerging Technology (NSSCET) date2023-08-14

Korea and Lao PDR push forward cooperation for green growth & GHG mitigation

The Republic of Korea’s Ministry of Trade, Industry and Energy and the Lao PDR's Natural Resources and Environment Ministry on August 8 discussed industrial and energy related greenhouse gases mitigation measures at the Korea Trade-Investment Promotion Agency (KOTRA) in Seoul. The meeting was attended by approximately 17 persons, including members of KOTRA, Korea Energy Agency (KEA) as well as officials from the Lao PDR’s Ministry of Industry and Commerce, Ministry of Agriculture and Forestry and the Ministry of Public Works and Transport. The meeting was held to strengthen the Korea-Lao greenhouse gas (GHG) mitigation partnership amid the Lao PDR’s efforts to push green growth policies and encourage sustainable power development measures. The Korean delegation proposed that the two countries sign cooperation memorandums of understanding (MOUs) and further their partnership to pursue pilot projects and secure strategic areas of cooperation. The Lao delegation agreed that GHG mitigation is necessary for expanding forward-looking bilateral cooperation, and requested Korea’s assistance in reinforcing its GHG mitigation system and capacity. Korea’s Ministry of Trade, Industry and Energy (MOTIE) plans to hold the Global Net Zero Connection event in Busan in November with aim to seriously push forward Korea’s efforts for GHG mitigation. date2023-08-08

Korea to lead regulation reforms to propel industrial complex investments

The Republic of Korea’s Trade, Industry and Energy Ministry’s Office of Industries & Enterprises Deputy Minister Hwang Soo-sung chaired a meeting on August 1 to discuss innovative ways to reform regulations related to the location of industrial complexes that impede corporate investment with relevant ministries and institutions. The meeting was held as part of a task force dedicated to carrying out innovative regulation reforms for industrial complex locations. The task force i date2023-08-08

Korea and U.S. assess bilateral high-tech cooperation as follow-up to state visit

The Republic of Korea’s Trade, Industry and Energy Vice Minister Jang Young-jin chaired the Korea-U.S. High-Tech Cooperation Strategy Assessment Meeting on August 4 (local time) in Dallas, U.S., and discussed detailed measures to seriously push forward with bilateral technology cooperation. During Korean President Yoon Suk Yeol’s state visit to the U.S. in April last year, a total of 23 memorandums of understanding (MOUs) were sealed in areas like advanced industries and clean energ date2023-08-07

Korea and U.S. gear up joint industrial technology R&D

The Republic of Korea’s Trade, Industry and Energy Vice Minister Jang Young-jin held a briefing session on Korea-U.S. industrial technology R&D on August 1 (local time) in San Francisco and conveyed the Korean government’s stance on international cooperation in advanced technologies, then discussed practical measures for Korea-U.S. technology collaboration. Over 130 researchers attended in person or online and showed interest in Korea’s public-led invigoration of internati date2023-08-04

Korea's retail industry grows 5.7% in H1 2023

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced on July 26 that Korea’s retail sales in June achieved an overall growth of 6.6 percent, year-on-year. Offline and online sales both expanded, by 4.2 percent and 9.1 percent, respectively. Growing online sales for home appliances/culture, living/home overtook those of offline, but sales of food products and service/other increased, resulting in positive growth overall. The Ministry releases monthly reta date2023-07-27

Korea seeking to become a global talent hub

The Republic of Korea’s Trade, Industry and Energy Minister Lee Chang-yang held the High-Tech Industries’ Overseas Talent Conference on July 26 where he met with highly skilled foreigners either taking their master's and doctorate programs in Korea or working in Korea’s advanced industry sectors like batteries and semiconductors, and gathered their experiences and challenges to develop cross-ministerial support measures for establishing assistance measures for Korea to grow int date2023-07-27

Korea launches Industrial Artificial Intelligence (AI) Alliance

The Republic of Korea’s Trade, Industry and Energy 1st Vice Minister Jang Young-jin held the Industrial Artificial Intelligence (AI) Alliance launching ceremony on July 25 at the Seoul Dragon City Hotel with the participation of Hyundai Motor, LG Electronics, Samsung SDS and other major companies representing Korea’s core industries and digital transformation (DX) suppliers. This Alliance is the expanded and realigned version of the Industrial Digital Transformation (DX) Solidarity date2023-07-26