Ministry of Trade, Industry and Energy

MOTIE kicks Industrial Transformation into high gear

The Ministry of Trade, Industry and Energy (MOTIE) held the first Industrial Transformation Forum meeting with its six private-sector subcommittees' chairpersons and representatives of relevant institutions on January 26 at the Korea Chamber of Commerce and Industry (KCCI) to discuss the need and specific measures for industrial transformation. Forum attendees pointed out that the majority of Korea’s exports and production has centered on 10 areas over the last decade, including semicondu date2023-01-27

1st Vice Minister visits market ahead of Korea's Lunar New Year holidays

Trade, Industry, and Energy 1st Vice Minister Jang Young-jin visited the Gwangjang Traditional Market located in Jongno-gu, Seoul, on January 19 to inspect market prices and self-quarantine conditions ahead of Korea's Lunar New Year holidays.   After receiving a briefing from Seoul Merchants Association Chairman Choo Gwi-sung on market management issues, Vice Minister Jang purchased holiday goods using an onnuri gift certificate. In view of the COVID-19 situation, the purchased goods were date2023-01-20

1st Vice Minister holds Display Sector Assessment Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided a meeting to assess the real economy of Korea’s display sector on January 18 at the Korea Chamber of Commerce and Industry (KCCI) to resolve investment and exports challenges via active communication with industry parties.   Vice Minister Jang shared the Ministry’s plans for industry support and discussed measures to expand private companies’ facilities investment and exports.   Approximately 10 date2023-01-19

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