Ministry of Trade, Industry and Energy

Korea's retail industry grows 4.0% in January

The Ministry of Trade, Industry and Energy announced on February 27 that Korea’s overall retail sales in January posted a 4.0 percent year-on-year growth. Offline sales lost 0.5 percent, while online sales gained 9.1 percent. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four “super supermarket” date2023-02-27

1st Vice Minister holds 3rd Real Economy Site Inspection Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided the 3rd Real Economy Site Inspection Meeting on February 22 at the Korea Coal Center (KCC) in Seoul and discussed machinery industry exports and investment prospects for 2023.   After his opening message, Vice Minister Jang led discussions on investment and exports forecast for Korea's machinery industry, as well as Government assistance plans.   The meeting was attended by relevant industry representatives, inclu date2023-02-23

Minister holds carbon neutral technology development roundtable

Trade, Industry and Energy Minister Lee Chang-yang attended the roundtable held on February 22 at Four Seasons Hotel Seoul for the signing ceremony of MOU for carbon-intensive firms to join hands in a consortium for carbon neutral technology development.   Minister Lee attended the MOU signing for carbon neutral technology development aiming to achieve carbon neutral goals across carbon-intensive sectors by supporting technological development and spreading the outcomes across other secto date2023-02-23

Korea holds Drone Show Korea 2023

The Ministry of Trade, Industry and Energy (MOTIE) announced on February 22 that Drone Show Korea 2023 will be held through February 23-25 at Busan Exhibition and Convention Center (BEXCO) and Deputy Minister for the Office of Industrial Policy Joo Young-joon is attending the opening ceremony to visit the exhibition booths and encourage participants. Marking its seventh show this year, Drone Show Korea was first launched in 2016 and is the nation’s largest drone exhibition, co-hosted by B date2023-02-23

1st Vice Minister attends High-Tech Robot Strategy Alliance kick-off ceremony

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the High-Tech Robot Strategy Alliance kick-off ceremony on February 21 at the Bundang Doosan Tower to discuss practical strategies for nurturing and supporting the robot industry.   Vice Minister Jang gave an opening message and led discussions on the basic direction for “high-tech robot industry strategy 1.0” and plans for Alliance management and challenges voiced by companies per each sector in the robot in date2023-02-22

Minister visits leading plasma cleaner exporter

Trade, Industry and Energy Minister Lee Chang-yang visited Vision Semicon, a world-leading plasma cleaner exporter located in Sejong City on February 20 to seek exports rebound measures amid the global economic slowdown and supply chain realignment.  The Minister received a briefing on company operations from Vision Semicon CEO Yoon Tong-seob and toured production facilities and encouraged employees.   date2023-02-21

1st Vice Minister discusses IRA & other issues with U.S. high-ranking officials

Trade, Industry and Energy 1st Vice Minister Jang Young-jin met with the U.S. Deputy Secretary of Commerce Don Graves and Deputy National Security Advisor Mike Pyle, respectively, on February 16 in Washington D.C. to discuss and seek solutions for issues on the Inflation Reduction Act (IRA), semiconductor trade, export control concerns and measures for stronger Korea-U.S. high-tech cooperation. date2023-02-20

Minister holds Steel Industry Development Roundtable

Trade, Industry and Energy Minister Lee Chang-yang presided the Steel Industry Development Roundtable on February 16 at the JW Marriott Hotel Seoul to seek measures for Korea to overcome challenges and claim the name for one of world's top three global steel powerhouses.   The Minister signed the MOU for low carbon steel industry prior to the meeting, then led roundtable talks on countermeasures against reinforced trade barriers from carbon neutral, worldwide oversupply and drop date2023-02-17

Minister presides 10th Defense Industrial Development Committee meeting

Trade, Industry and Energy Minister Lee Chang-yang presided the 10th Defense Industrial Development Committee meeting on February 14 at the Ministry of National Defense to discuss measures to advance industrial sustainability and performance amid all-time high arms exports in 2022.   The Minister gave an opening message and led discussions on the 3rd civil-military technology cooperation project masterplan and other issues.   The meeting was attended by National Defense Minist date2023-02-15

Minister holds evaluation meeting on World Expo 2030 Busan promotion progress

Trade, Industry and Energy Minister Lee Chang-yang held a meeting on February 6 to evaluate the progress of World Expo 2030 Busan bid promotion and plans.   With the final selection coming up in November this year, the meeting aimed to assess promotion activities in detail, including plans regarding overseas negotiation, upcoming local inspection of the Bureau International des Expositions (BIE), presentation competition, economic mission and public-private joint promotion collaboration. date2023-02-07