Ministry of Trade, Industry and Energy

Minister Sung visits secondary battery materials supplier

Trade, Industry and Energy Minister Sung Yunmo (third from the right) made an on-site visit to the plant of POSCO Chemical, a local supplier of secondary battery anode and cathode materials in Sejong, on April 26, and encouraged frontline industry workers. In the first half of the year, the Ministry will come up with a development strategy for the secondary battery industry that consists of plans to boost technological development, nurture professional manpower, and build infrastructure. date2021-04-26

Government to strengthen franchise industry’s innovative capacity

Trade, Industry and Energy Minister Sung Yunmo (center) attended the launching ceremony for a committee aimed at expanding the franchise industry’s innovative strength and foundation for sustainable growth at the Korea Press Center in Seoul, on April 26.The government announced a plan to improve the franchise industry’s competitiveness through innovation, upgrade the industrial structure through industry diversification, seek balanced development, and promote globalization of franchi date2021-04-26

Industry Ministry announces plan to promote development of root industry

Trade, Industry and Energy Minister Sung Yunmo (second from the left) made an on-site visit to Frontec, a local root company specializing in transactions of materials processing, in Siheung, Gyeonggi Province, on April 22, and announced the 2021 plan for the development of the root industry.   The government plans to invest a total of KRW 158.6 billion (USD 142 million) this year to boost digitalization across the root industry, support high value-added development, strengthen global comp date2021-04-22

Industry Ministry holds Industrial Technology Future Forum

The Ministry of Trade, Industry and Energy held the Industrial Technology Future Forum, co-organized by the Trade, Industry, Energy, SMEs, and Startups Committee in Seoul, on April 22, for an in-depth discussion on response strategies to rapidly changing industrial trends such as digital transformation and carbon neutrality.   In his opening remarks, Minister Sung highlighted the need for a strategic approach to industrial technology in order to enhance innovative performance based on Kor date2021-04-22

Minister Sung visits rare earth permanent magnet manufacturer in Daegu

Trade, Industry and Energy Minister Sung Yunmo made an on-site visit to the plant of SunglimGroup, a local manufacturer of rare earth permanent magnets for electric vehicles in Daegu, on April 19.Minister Sung said that due to the growth of new industries and carbon neutral targets, the demand for rare metals is rising. The government will establish a strong public-private network to boost technological development and expand support for prominent firms in order to secure supply chain stability. date2021-04-19

Minister Sung visits semiconductor research center at Seoul National University

Trade, Industry and Energy Minister Sung Yunmo (left) made an on-site visit to Seoul National University’s Inter-University Semiconductor Research Center, on April 14, and discussed measures to foster talents and resolve manpower shortages in the semiconductor industry. The government has recognized the importance of nurturing competitive human resources, and has cultivated more than 1,000 talents since 2019 as a result of large-scale projects jointly with the private sector.The government date2021-04-14

Korea's automobile output, domestic sales, and exports grow in Q1

The Ministry of Trade, Industry and Energy announced on April 13 that Korea’s automobile output, domestic sales, and exports in the first quarter of 2021 went up 12.2 percent, 11.3 percent, and 16.9 percent, respectively.    Meanwhile, for the month of March, output, domestic sales, and exports went down 9.5 percent, 0.9 percent, and 1.4 percent, respectively, due to a high base effect.   Total auto production in March by Korean automobile producers dipped 9.5 percent to date2021-04-13

Minister Sung meets with semiconductor industry representatives to discuss global supply chain issue

Trade, Industry and Energy Minister Sung Yunmo (center) held a meeting with local semiconductor manufacturers and industry representatives in Seoul, on April 9, to discuss countermeasures for the semiconductor industry amid disruptions in the global supply chain.   Minister Sung mentioned the importance of active private investment in memory chip and foundry production capacity for the establishment of a stable supply chain, and said the government will also come up with policy measures t date2021-04-09

Minister Sung visits ‘U-Turn’ company in Busan

Trade, Industry and Energy Minister Sung Yunmo made an on-site visit to the plant of Nova International, a local manufacturer of eco-friendly footwear in Busan, on April 1, to encourage the company’s achievement in creating jobs and new investments by reshoring its operations to Korea.The Ministry will continue with efforts to support companies seeking to return by improving ‘U-turn’ policies and expanding subsidies. date2021-04-01

Industry Ministry to speed up digital transformation for industrial sector

Trade, Industry and Energy Minister Sung Yunmo held a meeting with experts involving industry, academia, and research officials at Hyundai Global Service headquartered in Busan, on April 1, to discuss strategies to beef up industrial digital transformation. Under the “Digital Big-Push” strategy, the government will prepare a comprehensive support system for local firms according to the level of digitalization and expand the use of data platforms across industrial value chains. date2021-04-01