Ministry of Trade, Industry and Energy

MOTIE to support global market entry of middle-market enterprises

Trade, Industry and Energy Vice Minister Park Jin-kyu attended a launching ceremony for the business club organized to help domestic middle-market enterprises enter the global market, on June 15. The Ministry selected 50 middle-market enterprises to begin with, and plans to discover 300 companies by 2024 to support local businesses with overseas marketing strategies, export infrastructure, and cooperation network to encourage global expansion. date2021-06-15

Auto exports in May expand 57.5%

The Ministry of Trade, Industry and Energy announced on June 11 that Korea’s automobile output and exports in May grew 10.9 percent and 57.5 percent, respectively. Meanwhile, domestic sales contracted 10.1 percent. The number of vehicles produced by Korean automakers went up 10.9 percent to 256,272 units. The growth in automobile production was mostly attributable to a significant increase in outbound shipments. Over the same period, exports jumped 57.5 percent to 150,894 units. The bas date2021-06-14

Minister Moon attends Steel Day commemoration event

Trade, Industry and Energy Minister Moon Sungwook attended the 22nd Steel Day commemoration event at the POSCO Center in Seoul, on June 9, and discussed pending issues in the domestic steel industry with experts. The government and the industry agreed to work closely together to stabilize supply and demand for steel and strengthen the industry’s competitiveness by preparing for the carbon neutral era. date2021-06-09

Minister Moon meets with local battery makers at industry fair

Trade, Industry and Energy Minister Moon Sungwook visited InterBattery 2021, a three-day industry exhibition showcasing next-generation battery products and technologies held in Seoul, on June 9, and met with local battery makers afterwards.   Minister Moon promised active support for domestic companies amid fierce competition in the global electric vehicle battery market. date2021-06-09

Vice Minister Park visits COVID-19 vaccine manufacturing site for clinical trials

Trade, Industry and Energy Vice Minister Park Jin-kyu (right) made an on-site visit to the Animal Cell Culture Substantiation Center, a manufacturing facility for COVID-19 vaccines for clinical trials, in Andong, on June 2.   MOTIE has established facilities and equipment for consignment production of vaccines according to international standards since 2017 to foster the vaccine industry and support local companies’ production of vaccines for clinical trials.   Vice Minister date2021-06-03

Minister Moon attends committee meeting on reviewing regulatory exemptions

Trade, Industry and Energy Minister Moon Sungwook held a committee meeting on reviewing industry convergence regulatory exemptions at the Korea Chamber of Commerce and Industry in Seoul, on May 31.Minister Moon mentioned that the government will strengthen institutional support for the regulatory sandbox program so that it can lead to actual growth in sales, investment, and jobs, and promote projects related to the Green New Deal and the Digital New Deal to encourage innovation in businesses. date2021-05-31

Korea’s April retail sales rise 13.7%

The Ministry of Trade, Industry and Energy announced on May 27 that Korea’s retail industry saw a 13.7 percent improvement in sales in April compared to the same period last year. Both offline and online retailers saw growth, up 11.2 percent and 16.5 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, a date2021-05-27

Minister Moon encourages launch of integrated control center to ensure safety at industrial complexes

Trade, Industry and Energy Minister Moon Sungwook visited Incheon Namdong Industrial Complex, on May 26, and delivered a congratulatory speech to encourage the launch of an integrated control center at the smart green industrial complex. The integrated control center is a core component of the smart green industrial complex infrastructure that helps manage digitally safety, environment, and traffic issues within the industrial complexes to prevent accidents and ensure a comfortable working envir date2021-05-26

Industry Ministry holds meeting to support materials, parts and equipment industries

Trade, Industry and Energy Minister Moon Sungwook attended a committee meeting to strengthen the competitiveness of the materials, parts and equipment sectors at the Seoul Government Complex, on May 25.   At the meeting, the committee members discussed various issues including measures to respond to the recent global supply chain disruptions regarding automotive chips and rare earth materials, foster special complexes for materials, parts and equipment, and bolster R&D investments in date2021-05-26

Minister Moon visits Korea Federation of SMEs

Trade, Industry and Energy Minister Moon Sungwook (left) visited the Korea Federation of SMEs, on May 17, as part of efforts to expand communication with economic organizations in the policymaking process.                                                 &nbsp date2021-05-17