Ministry of Trade, Industry and Energy

MOTIE hosts 2021 Digital Transformation Fair

Trade, Industry and Energy Vice Minister Park Jin-kyu (fourth from the right) attended the opening ceremony for the 2021 D.Ton (Digital Transformation Fair: On-line & On-site), held to introduce advanced technology and machinery and enhance the global competitiveness of the domestic machinery industry.   Vice Minister Park, in his congratulatory speech, encouraged the machinery industry’s efforts to maintain strong exports despite COVID-19 challenges, and emphasized the industry date2021-10-19

Exports of green cars set new record in September

The Ministry of Trade, Industry and Energy announced on October 15 that outbound shipments of green cars from Korea set new records in the number of units shipped overseas (34,823 units), value ($1.0 billion) and share of total exports (23.8 percent).   Automobile output, domestic sales, and exports decreased 33.0 percent, 29.7 percent, and 20.7 percent, respectively, for the month of September. The decline was attributable to global semiconductor shortages and four fewer working days com date2021-10-18

Computers, a must-have in the contactless work-from-home era

Computers, a must-have in the contactless work-from-home era date2021-10-14

Minister Moon encourages steel industry’s efforts to produce eco-friendly steel

Trade, Industry and Energy Minister Moon Sungwook (second from the left) attended the Hydrogen Iron & Steel Making (HyIS) Forum, organized to start an industrywide discussion on measures to achieve carbon neutrality through hydrogen-based steelmaking.   Minister Moon welcomed the industry’s technological innovation efforts to reduce carbon emissions, and said that the government plans to prepare a policy to stabilize the supply for green hydrogen. date2021-10-06

Korea’s August retail sales rise 6.4%

The Ministry of Trade, Industry and Energy announced on September 29 that Korea’s retail sales in August posted year-on-year growth of 6.4 percent.   Both physical and online retailers experienced growth in sales, up 2.5 percent and 11.1 percent, respectively.   The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, date2021-09-29

Cooperation committee launches to strengthen competitiveness of Korea’s semiconductor industry

Trade, Industry and Energy Minister Moon Sungwook (center) attended the launching ceremony for a committee composed of representatives from industry, academia and research institutes to beef up Korea’s semiconductor industry, on September 28.   Minister Moon mentioned that the K-semiconductor Strategy announced in May in response to the global supply chain reorganization has led to substantial results in taxation, finance and manpower training, and said that the government will cont date2021-09-28

Minister Moon holds meeting with economic research institutes

Trade, Industry and Energy Minister Moon Sungwook met with heads of public and private economic research institutes on September 16, to discuss recent economic conditions and the future direction of Korea’s industrial policy.   Minister Moon said that the government will push for innovation in the industrial structure by securing industrial and technological competitiveness amid supply chain reorganization, utilizing digital transformation and carbon neutrality effectively, and real date2021-09-16

August automobile exports, output increase

The Ministry of Trade, Industry and Energy announced on September 15 that Korea’s automobile production and exports increased 0.7 percent and 4.1 percent, respectively, while domestic sales edged down 3.3 percent for the month of August. The export value totaled $3.0 billion, posting double-digit growth for eight straight months. Automobile output in August inched up 0.7 percent to 234,893 units despite automotive chip shortages and construction at the electric vehicle (EV) production li date2021-09-15

Minister Moon meets with steel, petrochemical firms to discuss new NDC targets

Trade, Industry and Energy Minister Moon Sungwook met with CEOs of steel and petrochemical firms, which account for more than 75.8% of greenhouse gas emissions in the domestic industrial sector, on September 14, as Korea considers stronger nationally determined contribution (NDC) targets. Minister Moon said that the government plans to strengthen communication with the industry and fully support investment efforts by firms to meet the NDC goals. date2021-09-14

Minister Moon attends meeting to encourage cooperation between middle market enterprises and energy agencies

Trade, Industry and Energy Minister Moon Sungwook (second from the right) attended a meeting, on September 3, to create a cooperative system between middle market enterprises and energy agencies for ESG and carbon neutral goals.   The Korea Energy Agency, the Korea Institute of Energy Technology Evaluation and Planning, and the Federation of Middle Market Enterprises in Korea signed a memorandum of understanding (MOU), and the state-run energy organizations promised to help middle market date2021-09-03