Ministry of Trade, Industry and Energy

Korea and UAE hold business forum & consultation sessions

Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-UAE Business Forum with President Yoon Suk-yeol on January 16 at the Rixos Marina Abu Dhabi, on the occasion of which 23 MOUs and one agreement were signed in areas like bio, digital transition and metaverse. In energy, six MOUs were signed in areas like joint production in hydrogen and ammonia. Eight MOUs were signed in emerging industry sectors, including ICT (information and communications technology), digital transition a date2023-01-19

Minister attends Korea-UAE Business Forum

Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-UAE Business Forum with President Yoon Suk-yeol on January 16 at the Rixos Marina Abu Dhabi, on the occasion of which 24 MOUs were signed in areas like bio, digital transition and metaverse.   Business consultation sessions were also held at the same venue, with 36 Korean companies and 105 UAE buyers participating for synergy in nuclear power plants, energy, smart city, smart farming and premium consumer goods.   date2023-01-19

Korea announces growth acceleration scheme for middle-market companies

  The Ministry of Trade, Industry and Energy (MOTIE) announced on January 16 the growth acceleration scheme for middle-market companies to be pushed by South Korea’s new regime, during a conference held at MCNEX (Incheon), one of the world’s top automotive camera producers. The conference was attended by MOTIE’s 2nd Vice Minister Park Il-jun, as well as representatives of six middle-market companies and relevant institutions, including the Korea Trade-Investment Promoti date2023-01-17

2nd Vice Minister holds Middle-Market Industry Conference

Trade, Industry and Energy 2nd Vice Minister Park Il-jun presided the Middle-Market Industry Conference on January 16 in Incheon to share growth acceleration strategies and challenging issues per company.   The Vice Minister remarked in his opening message that “middle-market companies make up the backbone of Korean industries and will play a core role for the Korean economy in overcoming current challenges and making new leaps,” and that “the first agenda for our econom date2023-01-17

MOTIE announces Industrial AI Internalization Strategy

The Ministry of Trade, Industry and Energy (MOTIE) held the first Industrial Digital Transformation Committee meeting at the Korea Chamber of Commerce and Industry (KCCI) on January 13, where the members deliberated and confirmed the Industrial AI (artificial intelligence) Internalization Strategy (hereinafter “Strategy”). The meeting was attended by relevant ministries’ officials and 13 private sector experts, and was presided by MOTIE’s Minister Lee Chang-yang. MOTIE date2023-01-16

1st Vice MInister attends petrochemical industry's New Year's ceremony

Trade, Industry and Energy 1st Vice Minister attended the Petrochemical Industry’s New Year’s Greetings Ceremony for 2023 on January 12 at the Plaza Hotel Seoul to give a congratulatory message and share policy directions on sustainable industry development in 2023.   The event was attended by approximately 150 persons, including industry representatives like the Korea Petrochemical Industry Association Chairman Shin Hak-chul and CEOs from SK Geo Centric and GS Caltex.   date2023-01-16

1st Vice Minister holds conference on shipyards' manpower issues

Trade, Industry and Energy 1st Vice Minister Jang Young-jin held a conference on January 9 at Daewoo Shipbuilding & Marine Engineering (DSME) in South Gyeongsang Province to discuss manpower issues with shipbuilding industry representatives.   The Minister led discussions and gathered opinions on public-private joint solutions on the current manpower shortage across shipyards.   The conference was attended by Korea’s shipbuilding industry representatives, including K date2023-01-10

Korean shipbuilders lead high value-added, eco-friendly market in 2022

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 5 that South Korea’s shipbuilding industry won home 37 percent (15.6 million compensated gross tonnage (CGT), USD 45.3 billion) of all orders worldwide. Korea’s market share grew 4 percent to 37 percent in 2022, which is meaningful considering the 22 percent decrease in total global orders in 2022 compared to the previous year. Market share was largest in 2018 (38 percent). This achievement is assessed as attr date2023-01-05

Minister visits LG Chem Life Sciences Company

Trade, Industry and Energy Minister Lee Chang-yang visited the LG Chem Life Sciences Company’s Osong plant on January 3 to assess recent domestic and international bioindustry trends and discuss measures to strengthen Korea’s competitiveness.   Minister Lee received a briefing from the company’s president Son Jee-woong on company operations and issues, led discussions on bioindustry trends and toured the facilities, encouraging the site employees.   date2023-01-04

MOTIE cohosts 1st Exports & Investment Financial Assistance Conference

Trade, Industry and Energy Minister Lee Chang-yang and Financial Services Commission Chairman Kim Joo-hyun cohosted the 1st Exports and Investment Financial Assistance Conference on December 29 at the Korea Chamber of Commerce and Industry (KCCI) to discuss measures to overcome critical economic challenges in 2023 via industrial and financial sectors’ close cooperation. The meeting was attended by Government officials and industrial and financial sectors’ representatives, including date2022-12-30