Ministry of Trade, Industry and Energy

Korea holds Metaverse Fashion Show

The Ministry of Trade, Industry and Energy's Deputy Minister for the Office of Industrial Policy Joo Young-joon attended Korea’s first metaverse fashion show on November 30 in Gangnam, where clothes designed for the metaverse were showcased to raise Korean citizens’ interest and encourage rising designers.   Among the approximately 100 attendees were various industry representatives, including Director Lim Hun-jin, Director of Korea Apparel Testing & Research Institute ( date2022-12-02

Korea’s retail industry grows 7.3% in October

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 29 that Korea’s retail sales in October gained a year-on-year growth of 7.3 percent. Both physical and online retailers grew in sales, up 6.4 percent and 8.2 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. Thirteen of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, and four “s date2022-11-29

Korea and Canada hold ministerial talks on industry cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Canada’s Minister of Innovation, Science and Industry François-Philippe Champagne on November 25 at the Government Complex Seoul and discussed cooperation in core industries and measures for trade and investment expansion. Noting the upgrade of the two countries’ ties to a comprehensive strategic partnership on the occasion of the Korea-Canada summit meeting held in September, the two industry chiefs agreed to build date2022-11-29

Minister presides 2022 MOTIE Policy Advisory Committee

Trade, Industry and Energy Minister Lee Chang-yang held the 2022 MOTIE Policy Advisory Committee meeting on November 25 at the Korea Chamber of Industry and Commerce (KCCI) to seek preliminary risk assessment with private sector experts amid inflation, prolonged war and other uncertainties.   Minister Lee gave an opening message, then facilitated discussions on preemptive measures to address the overall economic and financial risks across industries amid the “three highs” (i date2022-11-28

Minister attends Yongin Semiconductor Cluster cooperation MOU signing ceremony

Trade, Industry and Energy Minister Lee Chang-yang attended the memorandum of understanding (MOU) signing ceremony for the “win-win cooperation” for the successful progress of Yongin Semiconductor Cluster on November 21 at the National Assembly main hall in Seoul.   In his congratulatory message, Minister Lee thanked institutions for their cooperation in resolving the construction permit delay issue and assured that joint efforts will be made in tandem with the National Assemb date2022-11-24

1st Vice Minister attends 36th Textile Day

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the 36th Textile Day on November 11 in Seoul to encourage those in the textiles and fashion industry and congratulate the robust exports despite economic slowdown and supply chain realignment concerns.   The Vice Minister gave a congratulatory message and awarded medals and orders of merit to 47 persons who contributed to the development of the textile industry, including Huvis CEO Shin You-dong, who received the Gold To date2022-11-15

Minister attends 1st National High-Tech Strategic Industries Committee Meeting

Trade, Industry and Energy Minister Lee Chang-yang attended the 1st National High-Tech Strategic Industries Committee (hereinafter “Committee”) Meeting on November 4 at the Korea Chamber of Commerce and Industry (KCCI) in Seoul for deliberation and resolution of agenda items regarding special complexes, school designations and other Committee masterplans for high-tech strategic industries.   The meeting was presided by Prime Minister Han Duck-soo and attended by Committee memb date2022-11-07

Government holds 1st National High-Tech Strategic Industries Committee Meeting

South Korea’s Prime Minister Han Duck-soo presided the 1st National High-Tech Strategic Industries Committee (hereinafter “Committee”) Meeting on November 4 at the Korea Chamber of Commerce and Industry (KCCI) in Seoul. The Committee will serve as the highest decision-making body in the establishment, execution and inspection of policies for investment, personnel training, regulatory reform and finance in supporting the nation’s efforts to achieve a super gap across high-tech strategic industries. There are 20 members from both the public (12 persons) and private sector (8 persons), composed of relevant ministries’ officials, and experts from economic organizations, industries, academia and the R&D sector. Another important function of the Committee is to oversee regulatory exceptions, and take charge of the deliberation and resolution process regarding difficulties that domestic firms face to prevent them from falling behind in the high-tech race. The abovementioned Committee meeting covered the following three agenda items. One, the Government will designate three major industries (semiconductors, secondary batteries, displays) and related 15 high-tech strategic, world-leading technologies that necessitate the protection of the super gap, personnel and technologies. Two, the Government will designate special industrial complexes and roll out packages catering to their needs in terms of securing the location, building power and water infrastructure, permits, technology, personnel and financing. The complexes will be designated by the first half of 2023. Three, the Government confirmed its plans to designate schools for master's and doctorate programs to train up a ready-to-work and specialized workforce. For the semiconductor industry, the plan is to train up 30,000 workers over the next decade, 5,000 of which will be educated through specially designated master's and doctorate courses. Three semiconductor-specialized schools will be designated by early next year to start their programs in the second semester of 2023. For secondary batteries and displays, one or two schools will be designated in 2024 after a demand survey, followed by a prefeasibility study for further designation. The Government stated that the 2nd Committee meeting is slated for early next year, as high-tech strategic industries are growing in importance and prone to rapid changes. date2022-11-07

1st Vice Minister attends Tech Inside Show 2022

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the Tech Inside Show 2022 on November 2 at KINTEX in Ilsan held to share technological breakthroughs and strategies in MPE (materials, parts, equipment) industries, where he awarded orders and medals of merit to 20 persons.   In his congratulatory message, Vice Minister Jang emphasized the “important role of MPE companies in overcoming global supply chain crises,” and awarded those who contributed to the deve date2022-11-03

Minister holds Secondary Battery Industrial Strategy Roundtable

Trade, Industry and Energy Minister Lee Chang-yang presided the “Secondary Battery Industrial Strategy Roundtable” on November 1 at the JW Marriott Hotel Seoul, held on occasion of the launching of public-private joint Battery Alliance.   Minister Lee announced the secondary battery industry’s innovation strategies to claim global leader by 2030, and discussed innovation strategies, visions and future challenges for the public-private joint efforts needed to tackle the g date2022-11-02