Ministry of Trade, Industry and Energy

1st Vice Minister holds 21st Industrial Security TF Meeting

Trade, Industry and Energy 1st Vice Minister Park Jin-kyu held the 21st Industrial Security TF Meeting at the Korea Trade Insurance Corporation (K-SURE) headquarters in Seoul, to assess difficulties facing Korean businesses amidst the Russia-Ukraine crisis and to discuss viable countermeasures.   In his opening remarks, the Vice Minister stated that as “Russia-Ukraine situation is becoming more protracted and severe and major countries’ sanctions and risk factors are also incr date2022-03-14

Industrial Digital Transformation (DX) Task Force is launched

  Trade, Industry, and Energy Minister Moon Sung-wook announced on March 7 the launching of the “Industrial Digital Transformation (DX) Task Force” for a coordinated push to effectuate a digital transition across industry sectors. The aim of this move is to swiftly roll out the details settled under the “Special Act to Accelerate Industrial Digital Transformation” passed by the national assembly last December, set for enforcement on July 5, in order to accelerate t date2022-03-11

Minister Moon attends Technical University of Korea (TUKOREA) Vision Declaration Ceremony

Trade, Industry, and Energy Minister Moon Sung-wook attended the vision declaration ceremony of Technical University of Korea (TUKOREA) in Siheung City, Gyeonggi-do on March 4.   Formerly called Korea Polytechnic University, TUKOREA celebrated the launching of its new title at the declaration ceremony, where Minister Moon delivered a congratulatory message. Emphasizing the importance of nurturing tech-talented youth in achieving green and digital industry transformation, he expressed anti date2022-03-08

Minister Moon visits leading secondary battery pouch producer

Trade, Industry, and Energy Minister Moon Sung-wook visited Korea’s leading secondary battery pouch producer YoulChon Chemical Co. in Ansan, Gyeonggi-do, on February 28. The company is among the 28 materials, parts, and equipment (MPE) business model enterprises selected for the government-led program to nurture domestic MPE industries’ competitiveness.   Under the guidance of YoulChon Chemical CEO Song Nok-jung, Minister Moon took a tour around the production plant and encour date2022-03-03

Korea’s retail sales post 13.9% year-on-year growth in January

The Ministry of Trade, Industry and Energy announced on February 25 that Korea’s retail sales in January posted a 13.9 percent year-on-year growth. Offline sales jumped 18.4 percent, while online sales rose 9.1 percent. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. 13 of them are brick-and-mortar retailers: three hypermarket chains, three department store chains, three convenience store chains, and four “super supermarket” (SSM) op date2022-02-28

MOTIE signs MOU for Gunsan shipyard re-operation

Trade, Industry, and Energy Minister Moon Sung-wook visited the Hyundai Heavy Industries Gunsan Shipyard on February 24 to attend the shipyard’s re-operation MOU signing ceremony. During the Minister’s visit, an MOU was signed for the re-operation of the Hyundai Heavy Industries Gunsan Shipyard, which had halted operations in 2017 against the headwinds of the 2008 global financial crisis and the dry season of 2016 when orders hit rock bottom. In the recent wake of the global shipbui date2022-02-25

MOTIE leads public-private joint efforts amid global chip race

Trade, Industry, and Energy Minister Moon Sung-wook attended the Semiconductor Investment Promotion Conference at the Lotte Hotel Seoul on February 16, held to strengthen the semiconductor industry supply chain and bring about an innovation across Korean companies’ competitiveness landscape. Addressing the rising uncertainties in view of the recent supply chain realignment, Russia-Ukraine geopolitical risk, raw materials price surge, and natural disasters from climate change, attendees ag date2022-02-21

MOTIE aims to achieve both “quarantine” and “economy” through BCP

Trade, Industry, and Energy Minister Moon Sung-wook visited the Jusung Engineering R&D Center located in Yongin-si, Gyeonggi-do on February 17 in order to inspect domestic companies’ Omicron response quarantine conditions. Jusung Engineering is a mid-sized producer of semiconductors, displays, and solar cells, employing 536 workers and having generated KRW 236 billion in sales revenue as of Q3 2021. The visit was made in recognition of the growing importance of companies’ pand date2022-02-21

Minister Moon visits company for quarantine system inspection

Trade, Industry, and Energy Minister Moon Sung-wook visited the Jusung Engineering R&D Center located in Yongin-si, Gyeonggi-do on February 17 in order to inspect domestic companies’ Omicron response quarantine conditions. In his opening message, Minister Moon noted how Jusung Engineering’s well-prepared quarantine program is helping to minimize work halts during emergencies. He went on to emphasize the need for a preemptive yet practical quarantine system in consideration date2022-02-18

Minister Moon attends Semiconductor Investment Promotion Conference

Trade, Industry, and Energy Minister Moon Sung-wook attended the Semiconductor Investment Promotion Conference at the Lotte Hotel Seoul on February 16, held for the strategic development of domestic companies and Government in view of today’s supply chain reshuffle, global semiconductor industry changes and hegemonic race for technology. In his opening message, Minister Moon emphasized that the semiconductor enterprise is the most important asset and major driver behind Korea’s robu date2022-02-17