Ministry of Trade, Industry and Energy

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

Automobile exports in April jump 52.8% despite global automotive semiconductor shortage

The Ministry of Trade, Industry and Energy announced on May 14 that Korea’s automobile output and exports in April rose 11.8 percent and 52.8 percent, respectively. Meanwhile, domestic sales shrank 3.8 percent. Total output by Korea’s automobile industry in April went up 11.8 percent to 323,644 units despite the global automotive semiconductor shortage. Domestic sales edged down 3.8 percent to 161,097 units, which was partly attributable to the decrease in the special consumption date2021-05-14

Korea, Israel vow to expand R&D cooperation

Trade, Industry and Energy Minister Moon Sung-wook (right) met with his Israeli counterpart Amir Peretz in Seoul, on May 12, to fully revise the Korea-Israel Technological Cooperation Treaty, originally signed in 1999.   Under the revision, each country will double the annual spending on joint R&D projects from USD 2 million to $4 million, raise the ceiling for government support from 50 percent to 70 percent, encourage participation of research institutes and universities, and expand date2021-05-13

Minister Moon attends Automobile Day Commemoration Event

Trade, Industry and Energy Minister Moon Sung-wook attended the 18th Automobile Day Commemoration Event at Seoul Automobile Center, on May 12, and delivered congratulatory remarks.   Minister Moon said that the government will strengthen policy support for the transition to future cars as it is the key task in realizing the 2050 carbon neutral goals and securing competitiveness for Korea’s automobile industry.   date2021-05-12