Ministry of Trade, Industry and Energy

Korea’s ICT exports grow 14.8% in November

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced on December 15 that the export and import of Korea’s information and communications technology (ICT) goods for November 2024 achieved USD 20.5 billion and $12.4 billion, respectively, and the trade balance logged a surplus of $8.1 billion. ICT exports for the month of November advanced 14.8 percent year-on-year to enter the $20 billion thresholds for the fourth consecutive month, thanks to the strong performance of leading items like semiconductors and computers/peripherals. The accumulated ICT export value from January–November rose 26.1 percent year-on-year to $212.4 billion. Semiconductors climbed 30.3 percent to $12.5 billion, the January–November accumulated chip exports reaching an all-time high of $127.5 billion on the backs of robust demand for both memory chips (up 52.0 percent to $8.0 billion) and system chips (up 1.9 percent to $4.0 billion). Computers/peripherals leaped 98.6 percent, driven by steep demand for solid-state drives (SSDs) (up 194.2 percent to $1.2 billion). By region, ICT exports to China (including Hong Kong) inched down 2.2 percent to $7.9 billion as those of mobile phones and displays decreased. Exports to Vietnam (up 5.7percent to $3.3 billion) improved for the 16th consecutive month, led by semiconductors and mobile phones. Exports to the U.S. (up 47.5 percent to $3.0 billion) expanded for the 13th consecutive month as semiconductors (up 109.8 percent to $1.1 billion) and computers/peripherals (up 350.8 percent to $0.8 billion) surged, boosted by demand for servers and datacenters. EU-bound ICT exports (up 5.7 percent to $1.1 billion) continued their upward trajectory for the ninth consecutive month, with mobile phones (up 68.1 percent to $0.2 billion) and computers/peripherals (up 71.3 percent to $0.3 billion) at the helm. Exports to Japan (down 4.5 percent to $0.3 billion) shrank despite growth of semiconductors and displays as shipments of items like computers/peripherals decreased.   date2024-12-16

KATS Holds 58th technical regulation committee meeting

The Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea held the 58th Technical Regulation Committee (“Committee”) meeting today in Seoul for discussions on the proposed plan to review the effectiveness of conformity assessment for the upcoming Phase 3 (2025–2027). To ease burden on businesses, KATS has been evaluating the impact of newly introduced or tightened technical regulations on firms since 2013 in accordance with the Framework Act on Administrative Regulation. Since 2019, it has also been reviewing the need for the continued existence of legal certification systems once every three years in accordance with the Framework Act on National Standards. KATS runs the Committee under these objectives comprising private technical regulations experts. In compliance with the Framework Act on National Standards, KATS reviewed 250 certification systems from 2019–2022 and in 2024, the Bureau of Regulatory Innovation and Reform under the Office for Government Coordination reviewed 257 certification systems. Today’s discussions covered measures for private experts and stakeholders to review systems requiring numerous certifications and impose a heavy burden on businesses and citizens, with an aim to overhaul certification systems that are lacking in terms of effectiveness and tend to impede corporate innovation. Attendees also discussed plans with regard to reinforcing the Committee’s mandatory public-private joint review process to curb the further creation of new certifications and modify related rules to allow businesspersons to participate in the Committee to better incorporate onsite opinions. Socially controversial technical regulations and certification system revision measures may be obligated to undergo a Committee review. KATS plans to table the abovementioned proposal to review the effectiveness of conformity assessment for the upcoming Phase 3 (2025–2027) and other key agendas to the Committee. date2024-12-13

Fabless companies win recognition for contribution to advancing Korea’s fabless industry

Director General for High Technology Industry Yoon Sung-hyuk at the Ministry of Trade, Industry and Energy (MOTIE) attended the 2024 Fabless Day ceremony on December 11 in Seoul, hosted by the Korea Fabless Industry Association, where contributors to the fabless industry development were presented with government awards. Now in its second year, the ceremony was held with the participation of 100 representatives of major Korean fabless and semiconductor design house companies like Nextchip, Telechips, ABOV Semiconductor, and GAONCHIPS, as well as related institutions such as the Ministry of SMEs and Startups (MSS), Seongnam City, and the SeongNam Industry Promotion Agency (SNIP). During the ceremony, nine government awards were given to fabless companies recognized for their contribution to innovating and developing the domestic fabless ecosystem, including the Korean fabless company Nemesis, which was awarded the Trade, Industry and Energy Minister’s Commendation.   date2024-12-12

Korea launches 28th New Technology Commercialization Promotion Competition

The Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea launched the New Technology Commercialization Promotion Competition (“Competition”) on December 11 in Seoul to encourage new technology development and catalyze the expansion of sales channels and investment support. At the Competition, government awards were presented to 47 persons and institutions of merit for their contribution to developing and commercializing new and innovative technologies in addition to expanding sales channels. Moreover, a total of 35 new technology and new product certificates were awarded for the second half of this year. This year’s Silver Tower Order of Industrial Service Merit went to JNG CEO Park Jong-woo for the groundbreaking contribution to improving the air conditioning and heating efficiency of geothermal heat pump systems through air-conveying power reduction technology. The Industrial Service Medal went to Park Chang-joo, a department head at DL E&C for contributing to enhancing fire safety and the firefighting industry by developing the two-way intake and exhaust control system. On the margins of the Competition, three memorandums of understanding (MOUs) were signed among certified firms, venture capital firms, and a technology evaluation institute to accelerate the initial follow-up investment outcomes of the agreement signed last year to promote investment for new product- and technology-certified firms.   date2024-12-12

New Technology Commercialization Promotion Competition 2024

Director General for Conformity Policy Chung Sang-yong at the Ministry of Trade, Industry and Energy (MOTIE) attended the New Technology Commercialization Promotion Competition 2024 on December 11 in Seoul and presented government awards to 47 persons of merit including JNG CEO Park Jong-woo, who received the Silver Tower Order of Industrial Service Merit. date2024-12-12

Tech-GPT Project Agreement Ceremony

Industries and Enterprises Deputy Minister Oh Seung-cheol attended the “Tech-GPT Project Agreement Ceremony” on December 3 in Seoul, where 10 companies and institutions entered an MOU for cooperation on promoting the Tech-GPT and nurturing the global open innovation ecosystem. The event was held with the participation of relevant institutions and companies including the Korea Institute for Advancement of Technology (KIAT), Korea Electronics Association (KEA), and the Korea Institute of Industrial Technology (KITECH). date2024-12-04

Korea to roll out AI-based “Tech-GPT,” connecting technologies, talents, and businesses worldwide

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea jointly held the “Tech-GPT Project Agreement Ceremony” today in Seoul with the Korea Institute for Advancement of Technology (KIAT), Korea Electronics Association (KEA), and the Korea Institute of Industrial Technology (KITECH). The agreement ceremony marks the beginning of the Tech-GPT platform project (2024–2028). This generative AI-driven platform will enable users to tap into technologies, businesses, and talents around the world. The project is a follow-up to the strategy on attracting and utilizing overseas high-tech talents for global open innovation, announced during the third talent nurturing strategy meeting chaired by Korea’s prime minister this September. To be established through public-private collaboration, the Tech-GPT will be given an input of data on 110 million patents registered in the U.S., China, Germany, Japan, and the EU in addition to 220 million papers recently published in Korea and overseas in order to provide chatbot search engine services on technology information starting in the second half of next year. In 2026, services will expand to cover real-time business and talent information searches. In 2027, through collaboration with major global platforms, Tech-GPT will be able to support users’ networking with global companies and talents. To invigorate the technological development and commercialization ecosystem centering on the Tech-GPT, a Tech-GPT Store will also be operated to connect users with specialized global companies’ paid services for more in-depth assistance in areas like technology transfer, supply chain analysis, and financial assistance for commercialization. Approximately 100 representatives of related businesses and organizations came to attend today’s ceremony, where a memorandum of understanding (MOU) was entered by 10 companies and institutions for cooperation on promoting the Tech-GPT and nurturing the global open innovation ecosystem.   date2024-12-03

Yongin Semiconductor Cluster infrastructure agreement ceremony

Minister for Trade, Industry and Energy Dukgeun Ahn attended the agreement ceremony on establishing the infrastructure for the Yongin Semiconductor Cluster today at the Korea Semiconductor Industry Association (KSIA), held with aim to facilitate the smooth construction of power and water infrastructure. The ceremony was attended by representatives of relevant ministries, companies and institutions, including Samsung Electronics, SK Hynix, Korea Electric Power Corporation (KEPCO), K-water, and Korea Land and Housing Corporation (LH). date2024-11-27

Minister attends interministerial meeting on strengthening industrial competitiveness

Minister for Trade, Industry and Energy Dukgeun Ahn attended the interministerial meeting held for strengthening industrial competitiveness today with the participation of ministers of related ministries. date2024-11-27

Korea to Support Semiconductor Industry via Public-Private Partnership

The Korean government announced plans to enhance support for the semiconductor ecosystem today during an interministerial meeting held for strengthening industrial competitiveness.  First, the Government will work with the National Assembly to significantly reduce the burden on companies for semiconductor cluster infrastructure. The Government has promised to take on a significant share of the responsibility for KRW 1.8 trillion required to build underground power transmission cables for the Yongin and Pyeongtaek Semiconductor Clusters, while increasing the limit on infrastructure support for complexes specialized in national high-tech industries. It will also boost the operation of programs to attract overseas talents in high-tech sectors and scale up incentives for high-performing instructors at Korea’s four science and technology institutes and increase specialized graduate schools to train experts in various high-tech industries. The Government will also increase tax benefits for investment in R&D facilities. It will work with the National Assembly to include R&D equipment and facilities in the scope of investment tax credit for national strategic technologies and increase the investment tax credit rate for semiconductor companies.  In 2015, the Government will provide policy financing worth more than ₩14 trillion across all semiconductor sectors including MPE (materials, parts, equipment) and fabless manufacturing, marking the beginning of full-fledged investment in semiconductor funds. It will also launch a program through which the Korea Development Bank will provide low-interest loans totaling ₩4.25 trillion in 2025 at lowest-level interest rates. In the same year, a new semiconductor ecosystem fund worth ₩120 billion will be created, with plans to scale it up to ₩420 billion later on.  Lastly, the Government will finalize the power and water supply plan for the Yongin Semiconductor Cluster, under which relevant organizations will enter into an agreement. For the Yongin National Industrial Complex, the Government formulated a plan to supply power worth 3GW (starting in 2030, Phase 1) and divide the supply costs, and reached a provisional agreement on additional power supply (starting in 2039, Phase 2). For the Yongin General Industrial Complex, the Government followed up on the power supply agreement on 3GW in 2021 (starting in 2027) by reaching a final agreement on the supply of additional power (starting in 2039, Phase 2) and cost sharing. Moving forward, the Government will continue to build the competitiveness of the country’s semiconductor industry by closely working with the National Assembly to enact the budget and law revisions for semiconductor industry support.   date2024-11-27