Ministry of Trade, Industry and Energy

1st Vice Minister holds 37th Business Realignment Deliberative Committee Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided the 37th Business Realignment Deliberative Committee Meeting on March 24 at the Plaza Hotel Seoul and approved business realignment plans of nine SMEs and middle-market companies entering digital and eco-friendly sectors.   Approximately 20 persons attended the meeting, including government officials and civil committee members.   date2023-03-28

1st Vice Minister attends MPE Enterprise Awards Ceremony 2023

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the Global Top Specialty MPE Enterprise Awards Ceremony 2023 on March 22 in Seoul and presented award certificates to 23 companies selected for having the nation’s top potential in materials, parts and equipment (MPE) strategic technology.   Approximately 300 persons attended the event, including Korea Evaluation Institute of Industrial Technology (KEIT) President Chun Yoon-jong and various MPE companies’ rep date2023-03-24

MOTIE announces U.S.' proposed rule for CHIPS Incentives Program

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 21 the U.S. Department of Commerce (DOC)’s release of the proposed rule for guardrails included in the CHIPS Incentives Program under the CHIPS and Science Act (Creating Helpful Incentives to Produce Semiconductors and Science Act of 2022), limiting recipients of funding from investing in the expansion of semiconductor production capacity in “foreign countries of concern (China, North Korea, Russia, Iran)”. date2023-03-24

Minister Lee attends 50th Korean Commerce and Industry Day

Trade, Industry and Energy Minister Lee Chang-yang attended the 50th Korean Commerce and Industry Day Ceremony on March 15 at the Korea Chamber of Commerce and Industry (KCCI) held to promote commercial and industrial advancement and encourage those that contributed to Korea’s industrial development.   Minister Lee gave a congratulatory message and awarded orders and medals of merit to 16 persons, including the Gold Tower Order of Industrial Service Merit awarded to HD Hyundai Chair date2023-03-17

MOTIE attends 3rd World Expo 2030 Busan Bid Committee meeting

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 10 that Prime Minister Han Duck-soo and Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won co-presided the third World Expo 2030 Busan Bid Committee (hereinafter “Committee”) meeting at the Four Seasons Hotel Seoul. This meeting was held to gather public-private efforts for bid winning and to discuss upcoming promotion measures in detail, as the final bid winner election is coming up in November t date2023-03-14

World Expo 2030 Busan Bid Committee signs MOU with Busan City and Lotte for joint promotion

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 8 that the Bid Committee for World Expo 2030 Busan signed a cooperation memorandum of understanding (MOU) with Busan Metropolitan City and Lotte Holdings for promotion of Korea’s bid to host World Expo 2030 in Busan to prepare for local due diligence by the Bureau International des Expositions (BIE) on April 3-7 and to draw nationwide interest and support for World Expo 2030 Busan.   The MOU signing ceremony was a date2023-03-10

1st Vice Minister attends MOU ceremony launching Korea’s innovation fund for middle-market companies

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the first MOU signing ceremony launching Korea’s innovation fund for middle-market companies on March 9 at the Plaza Hotel Seoul to support middle-market companies’ entrance into new businesses.   The Vice Minister gave an opening message and attended the MOU signing ceremony for supporting middle market companies’ development and securing new growth engines.   The ceremony was attended by repres date2023-03-10

Korea announces regulatory innovation for high-tech robot industry

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 2 the regulatory innovation measures for Korea’s high-tech robot industry at the 3rd Regulatory Innovation Strategy Meeting held at the Metaverse Hub in Pangyo to swiftly implement aggressive deregulation for creation of new businesses, in view of the robot industry’s capacity to enhance productivity, prevent manpower shortage and generate new future industries. The regulatory innovation measures will center aroun date2023-03-07

Korea announces measures for securing critical minerals supply

Trade, Industry and Energy Minister Lee Chang-yang presided a conference on February 27 at the Lotte Hotel Seoul to discuss strategies for securing critical minerals and measures to stabilize the supply chain.   The strategy for securing reliable critical minerals supply is a follow-up measure to President Yoon Suk-yeol’s order to establish a critical minerals supply chain centering around the Ministry of Trade, Industry and Energy. It is anticipated that the plan will help mitigate date2023-03-02

Korea announces measures for securing critical minerals supply

Trade, Industry and Energy Minister Lee Chang-yang presided a conference on February 27 at the Lotte Hotel Seoul to discuss strategies for securing critical minerals and measures to stabilize the supply chain. The conference was held in the attendance of representatives from various like EVs and secondary batteries that require critical minerals for business, as well as domestic and overseas firms in resources development, including Samsung SDI, Hyundai Motor, LG Energy Solution, SK On and&nbsp date2023-02-28