Ministry of Trade, Industry and Energy

Minister Lee discusses measures to raise Korea's potential growth with leading economists

Trade, Industry and Energy Minister Lee Chang-yang chaired a conference with Korea’s leading economists and national policy experts on April 19 at the Plaza Hotel Seoul to discuss measures to secure potential growth for Korea to develop into a leading global economy with respect to labor, capital and total factor productivity. The conference was attended by a number of professors, economists, and representatives of relevant public institutions, including Lee Seung-heon, Senior Deputy date2023-04-25

MOTIE holds 11th MPE Industry Competitiveness Committee meeting

The Ministry of Trade, Industry and Energy (MOTIE) held the 11th MPE (materials, parts and equipment) Industry Competitiveness Committee meeting on April 18 at the Government Complex Seoul and announced the Ministry’s plan to nurture MPE firms into global companies with top-notch technological competitiveness, to advance the domestic supplier-buyer cooperation model, as well as the standardization strategy for rare earth minerals.   The meeting was attended by representatives of rel date2023-04-21

Korea to nurture tech-competitive MPE companies

The Ministry of Trade, Industry and Energy (MOTIE) held the eleventh MPE (materials, parts and equipment) Industry Competitiveness Committee meeting on April 18 and announced the Ministry’s plan to nurture MPE firms into global companies with top-notch technological competitiveness and to expand core MPE areas and related strategic technologies. The globalization strategy has been established to enable Korea’s MPE industries to respond to the rapidly changing global high-tech indust date2023-04-21

MOTIE and Boeing discuss measures to expand cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with chief executive officer of Boeing Defense, Space & Security (BDS) Theodore Colbert III on April 13 at the Four Seasons Hotel Seoul to discuss measures to expand cooperation between Korea and Boeing. The talks were held for the purpose of expanding Korea-Being cooperation in the future amid the post-COVID realignment of global supply chains and rising national defense budgets worldwide. Delegations from the Ministry of Trade, Indus date2023-04-17

Korea and Kazakhstan discuss critical minerals & economic cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Sklyar Roman, First Deputy Prime Minister of the Republic of Kazakhstan, on April 14 at the Lotte Hotel Seoul and discussed critical minerals, economic cooperation and plant bid project, and requested support for World Expo 2030 Busan.   date2023-04-14

Minister Lee discusses cooperation with Boeing Defense, Space & Security CEO

Trade, Industry and Energy Minister Lee Chang-yang met with Boeing Defense, Space & Security CEO Theodore Colbert III on April 13 at the Four Seasons Hotel Seoul to discuss measures to expand Korea-Boeing aerospace defense industrial cooperation amid global value chain realignment and escalating national defense budgets worldwide.   The two leaders discussed future civilian and military aerospace joint development, technology cooperation and investment in Korea, Korean firms’ pa date2023-04-14

Minister Lee attends Korea-Portugal Business Forum

Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-Portugal Business Forum held on April 12 at the Four Seasons Hotel Seoul and met with Portuguese Prime Minister António Costa to discuss measures for expanding Korea-Portugal business cooperation.   In his congratulatory message, Minister Lee stated that car parts, renewable energy and many other areas were enjoying increasing bilateral investment. Bilateral trade also grew from USD 0.8 billion in 2019 to $1.2 bi date2023-04-13

MOTIE announces launching of Super Gap Project for Industrial Transformation

Trade, Industry and Energy 1st Vice Minister Jang Young-jin held a CTO Roundtable on April 10 at the Korea Chamber of Commerce and Industry (KCCI) and announced the launching of the “Super Gap Project for Industrial Transformation.” The roundtable was attended by the heads of four relevant institutes and CTOs of nine companies, namely LX Semicon, Samsung Display, Hyundai Motor, POSCO, Yujin Robot, LG Innotek, L&F, Hanwha Aerospace and CJ CheilJedang. The Super Gap Project is a date2023-04-13

1st Vice Minister visits cement supplier for site inspection

Trade, Industry and Energy 1st Vice Minister Jang Young-jin visited Hanil Hyundai Cement, the Seoul capital area’s largest cement supplier in Gyeonggi-do, on April 11 for site inspection and briefing on company management and cement supply issues.   The Vice Minister toured the facilities and received opinions on measures to improve supply conditions, then inspected silo level and cement loading site. date2023-04-11

MOTIE announces post-IRA public-private joint strategy for battery industry

Trade, Industry and Energy Minister Lee Chang-yang chaired the Battery Alliance conference on April 7 and announced the “Post-IRA Public-Private Joint Strategy for Battery Industry Development”. The following measures will be implemented to support domestic material suppliers, which are growing increasingly important since the IRA. First, the Export-Import Bank of Korea and K-SURE will support battery firms' and material suppliers’ investments in facilities within North Ameri date2023-04-07