Ministry of Trade, Industry and Energy

Minister Moon meets with root industry representatives

Trade, Industry and Energy Minister Moon Sungwook (left) visited the plant of Dong-A Precision Industrial Company, a local mold manufacturer, in Bucheon, Gyeonggi Province, on July 12, to encourage the firm’s introduction of smart robots to the manufacturing process, thereby reducing working hours and improving product quality. After the visit, Minister Moon met with root industry representatives and emphasized the need for qualitative growth centered on technological innovation in order t date2021-07-12

Minister Moon visits department store chain ahead of toughened quarantine measures

Trade, Industry and Energy Minister Moon Sungwook (center) made a visit to Lotte Department Store’s Myeongdong branch in Seoul, on July 11, to check the quarantine management system at a large scale retail store ahead of the implementation of tougher social distancing rules. date2021-07-12

Minister Moon holds meeting with heads of public institutions

Trade, Industry and Energy Minister Moon Sungwook (center) held a meeting with heads of 40 public institutions, on July 7, to review the progress of state-led projects and discuss pending issues in the industry including field safety and energy conservation.Minister Moon emphasized that it is important to create safe working environments for employees, provide stable power supply, improve safety management of power facilities and keep quarantine rules at all times. date2021-07-07

Minister Moon holds meeting with marine equipment industry

Trade, Industry and Energy Minister Moon Sungwook (second from the left) met with local suppliers of marine equipment at Noksan Industrial Complex in Busan, on June 29, to encourage the industry’s efforts in developing eco-friendly technologies and exploring overseas markets.The government will invest 254 billion won (USD 225 million) by 2031 to develop vessels with reduced greenhouse gas emissions. date2021-06-29

Overall retail sales move up 12.9% in May

The Ministry of Trade, Industry and Energy announced on June 25 that Korea’s overall retail sales in May saw a year-on-year growth of 12.9 percent. Both offline and online sales improved, up 8.8 percent and 17.6 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, and four “super supermarket” date2021-06-28

MOTIE launches Industrial Digital Transformation Cooperation Support Center

Trade, Industry and Energy Minister Moon Sungwook attended the launching Ceremony for the Industrial Digital Transformation Alliance and the Industrial Digital Transformation Cooperation Support Center (iDX Center) in Seoul, on June 24. The Alliance, which incorporated 6 industries last year, added 4 more industries this time – machinery/robot, root materials, energy, and textile chemistry – to encourage industry, academia, and research sector cooperation in digital transformation. T date2021-06-24

Minister Moon visits site of mRNA vaccine production

Trade, Industry and Energy Minister Moon Sungwook (center) made an on-site visit to the plant of Samsung Biologics, on June 21, to check the mRNA vaccine manufacturing line added at its facility in Songdo.Minister Moon stressed that the deal with Moderna for consignment production of mRNA vaccine is an opportunity to enhance Korea’s status as a global vaccine hub and strengthen the nation’s pandemic response capability. date2021-06-23

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