Ministry of Trade, Industry and Energy

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

Korea to formulate & amend 1,971 KS in line with digital transition

The Korean Agency for Technology and Standards (KATS), an organization affiliated with the Ministry of Trade, Industry and Energy (MOTIE), held the Industrial Standards Council (“Council”) meeting on May 10 at the JW Marriott Seoul, announcing that 11 ministries will formulate and amend 1,971 Korean Industrial Standards (KS) through 43 technology council meetings this year. The Council is composed of 52 experts from relevant industry, academia, R&D and consumer groups and is the date2023-05-12

1st Vice Minister attends "20th Automobile Day"

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the “20th Automobile Day” ceremony at the Grand Hyatt Seoul on May 11 and awarded 34 orders and medals of merit, including the Silver Tower Order of Industrial Service Merit presented to Kia Motors Executive Vice President Choi Jun-young.   Vice Minister Jang commended the Korean automobile industry’s accomplishment of reaching USD 77.4 billion in export last year amid difficult conditions, and again hi date2023-05-12

Minister Lee chairs Shipbuilding Industry CEOs’ Conference

Trade, Industry and Energy Minister Lee Chang-yang chaired the Shipbuilding Industry CEOs’ Conference on May 10 in Ulsan and discussed Government measures for securing future super gap technology and gathered industry opinions on challenges and possible solutions.   The conference was attended by representatives of shipbuilding industry businesses, associations and other relevant organizations, including Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Korea Offsho date2023-05-11

1st Vice Minister attends "Robot Talk Concert"

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended a “Talk Concert” on the theme of “Robot and Human” to discuss with youth the robot industry as a promising future growth engine and to deepen intergenerational communication on the topic.   The Vice Minister gave an opening message and discussed various topics related to the robot industry, which is regarded as the new growth engine and promising sector for the future, as well as a way to innovate date2023-05-11

1st Vice Minister visits GM Korea's Bupyeong plant

Trade, Industry and Energy 1st Vice Minister Jang Young-jin visited GM Korea’s plant in Bupyeong and met with Shilpan Amin, Senior Vice President and President General Motors International, to discuss GM Korea’s management normalization efforts and future business plans, then toured production lines and encouraged employees. date2023-05-09

1st Vice Minister chairs Fabless Semiconductor Companies’ Export & Investment Review Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin chaired the Fabless Semiconductor Companies’ Export & Investment Review Meeting on May 2 at the Korea Chamber of Commerce and Industry (KCCI) and led discussions on export and investment prospects for Korea’s semiconductor industry and gathered industry opinions from attending representatives of relevant associations, R&D institutions and firms. The semiconductor industry representatives forecast that demand for ser date2023-05-08