Ministry of Trade, Industry and Energy

1st Vice Minister attends Innovative Eco-Friendly Ship Tech Project Launch

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the launching ceremony for Innovative Technology Development Business Project for Eco-Friendly Ships at the Korea Marine Equipment Research Institute (KOMERI) in Busan on July 15, alongside the Oceans and Fisheries (MOF) Vice Minister Song Sang-keun.   Vice Minister Jang delivered a congratulatory message and emphasized that Korea should sustain its status as shipbuilding powerhouse with future eco-friendly shipbuilding date2022-07-18

1st Vice Minister attends R&D Institutions' Conference

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the R&D Institutions’ Conference on July 11 at the Government Complex Sejong to discuss reorganization measures across all cycles of R&D process in accordance with the new regime’s industrial technology innovation strategy follow-up.   The Vice Minister delivered opening remarks, stating that they must “innovate the R&D process overall to create outcomes worthy of the KRW 30 trillion R&D date2022-07-13

MOTIE presents work report under new regime

The Ministry of Trade, Industry and Energy (MOTIE) presented the Ministry’s work report to President Yoon Suk-yeol on July 12, a five-year set of three-fold strategies containing 11 major project tasks. The three-fold strategies are in bold as follows. One, the Ministry will pursue a major industrial shift through growth-oriented strategy. The growth-oriented industrial strategy is built on four key aims. The first aim is to stimulate private investment through regulatory improvement, date2022-07-12

Korea reclaims world no.1 shipyard title in 4 years

The Ministry of Trade, Industry and Energy (MOTIE) announced on July 6 that South Korea’s shipbuilding industry achieved 1st place in terms of shipbuilding orders for the first half of 2022, winning 45.5 percent (9.79 million CGT) out of a total of 21.53 million CGT, the entire volume of shipbuilding orders worldwide for that period. In so doing, Korea has reclaimed top spot for H1 after previously claiminig it in 2018. When excluding delayed demand effect of 2021, H1 2022 results are the date2022-07-08

1st Vice Minister holds Industrial Digital Transformation Business Conference

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided the “Industrial Digital Transformation Business Conference” held July 5 at the LS Electric plant in Cheongju to discuss digital transitions across industry sectors and different businesses.   In his opening message, he urged large companies to “take charge in swiftly establishing their digital innovation ecosystem with middle-market companies and SMEs” and exchanged views regarding digital transfo date2022-07-06

"Special Act to Accelerate Industrial Digital Transformation" is enforced

The Ministry of Trade, Industry and Energy (MOTIE) announced plans to kick the Special Act to Accelerate Industrial Digital Transformation into high gear beginning July 5. The Act was legislated in January this year. This Act is meaningful in that it incorporates the utilization and protection principles concerning industrial data, rationale for comprehensive governmental support, inter-ministerial collaboration mechanism as well as in that it lays the legal grounds for pursuing industrial digi date2022-07-04

MOTIE holds World Class 300 Project Merit Award 2022

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the World Class 300 Project Merit Award 2022 at the Four Seasons Hotel Seoul on June 29 to award certificates of merit to companies selected for World-Class 300.   In his congratulatory remarks, Vice Minister Jang stated that the World-Class Companies should be at the helm of growth in jobs and exports for other middle-market enterprises to follow. To this end, he assured that “the Government will bolster efforts t date2022-06-30

34th Business Reorganization Plan Deliberative Committee Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided the 34th Business Reorganization Plan Deliberative Committee Meeting at the Korea Chamber of Commerce and Industry (KCCI) in Seoul on June 29 for MOU signing and deliberation procedures.   Vice Minister Jang attended the MOU signing between the approved companies and the business reorganization consulting services provider to give his opening remarks. He then facilitated the deliberation and voting processes on companies date2022-06-30

Korea's retail sales gain 10.1% in May

The Ministry of Trade, Industry and Energy announced on June 28 that Korea’s overall retail sales in May saw a year-on-year growth of 10.1 percent. Both offline and online sales surged, up 9.3 percent and 11.0 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 “super supermarket&rdqu date2022-06-29

Korea and Spain sign Industrial Technology and International Cooperation MOU

Hwang Soo-sung, Deputy Minister for MOTIE’s Office of Industry and Enterprise Innovation held talks with Spanish counterpart Teresa Riesgo, MICIN’s Secretary-General of Innovation on June 24 in Madrid, where they signed the Korea-Spain Industrial Technology and International Cooperation MOU and agreed to provide full mutual support in pursuing high-tech collaboration, carbon neutral and digital transition.    The event was attended by officials of both countries, includin date2022-06-27