Ministry of Trade, Industry and Energy

Minister attends special financial assistance MOU ceremony for NPP firms

Trade, Industry and Energy Minister Lee Chang-yang attended the MOU signing ceremony for on March 29 at the Four Seasons Hotel Seoul for the launching of KRW 200 billion special financial package for nuclear power plant (NPP) SMEs and middle-market companies to accelerate the restoration of NPP ecosystem.   The ceremony was attended by Korea Hydro & Nuclear Power (KHNP) President Hwang Ju-ho, Korea Development Bank (KDB) Chairman Kang Seog-hoon, Doosan Enerbility President Jung Y date2023-03-31

MOTIE announces appointment of "Baby Shark" as 5th ambassador for World Expo 2030 Busan

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 28 that “Baby Shark”, created by the Korean company Pinkfong, has been appointed as the fifth official honorary ambassador for World Expo 2030 Busan by the World Expo 2030 Busan Bid Committee and Busan Metropolitan City. Loved by kids and parents from all around the world, Baby Shark is an animated character created in 2016 and will promote Busan City as host for World Expo 2030 as the fifth honorary ambassador al date2023-03-29

1st Vice Minister attends 4th International Conference on Robot Future Strategy

Trade, Industry and Energy 1st Vice Minister attended the 4th International Conference on Robot Future Strategy on March 28 at COEX to discuss changing lifestyles from high-tech convergence of robotics, AI and mobility and to seek future direction for the robotics industry.   The conference was attended by in industry, academia and R&D robotics experts, including Korea Institute for Robot Industry Advancement (KIRIA) President Shon Woong Hee, Korea Association of Robot Industry Chairm date2023-03-29

Korea's retail industry grows 7.9% in February

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 28 that Korea’s retail sales in February achieved an overall growth of 7.9 percent, year-on-year. Offline and online sales both expanded, by 8.0 percent and 7.8 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. Thirteen of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four date2023-03-29

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