Ministry of Trade, Industry and Energy

Government to promote middle market enterprises to become key players of Korean New Deal

The Ministry of Trade, Industry and Energy, jointly with relevant ministries, announced on November 12 at the policy coordinating meeting on key state affairs that it will strengthen support for hidden champions and middle-market enterprises to become key players of the Korean New Deal. Under the new growth strategy for hidden champions and middle-market enterprises, the government aims to develop 12,000 prominent companies related to Digital and Green New Deal projects and provide support for date2020-11-13

Vice Minister Park attends Textile Day commemoration event

Trade, Industry and Energy Vice Minister Park Jin-kyu attended the 34th Textile Day commemoration event at Seoul Textile Center on November 11, and announced the Korean New Deal Strategy for the Textile and Fashion Industry.   According to the Strategy, the government will invest 1.4 trillion Won ($1.26 billion) and create 36,000 jobs in the industry by 2026.   The Textile Day is celebrated every year to commemorate the day that the textile and fashion industry became the first out date2020-11-11

Vice Minister Park visits exhibition site for small businesses as part of Korea Sale Festa

Trade, Industry and Energy Vice Minister Park Jin-kyu (center) made an on-site visit to the exhibition for excellent products by small and medium-sized businesses in Pangyo on November 11, held as part of the 2020 Korea Sale Festa.   The event is designed to encourage small and medium-sized enterprises experiencing hardships from COVID-19 and promote well-made products as well as open up sales channels for them. A total of 529 companies will participate in the event via four offline store date2020-11-11

Korea Sale Festa leads to 8.4% rise in credit card revenues over first week of November

Trade, Industry and Energy Ministry announced on November 10 that the 2020 Korea Sale Festa, a 15-day nationwide shopping event that kicked off on November 1, has already achieved better results than expected, with credit card revenues over the first seven days of the festival expanding 8.4 percent compared to the same period last year. date2020-11-10

MOTIE awards companies for attracting foreign investment in high-tech industries

Trade, Industry and Energy Vice Minister Park Jin-kyu attended the 2020 Foreign Company Day event in Seoul, on November 3, and awarded 44 companies for playing important roles in attracting foreign investment in high-tech industries.   Vice Minister Park mentioned that despite challenging circumstances in the global supply chain presented by the virus, foreign direct investment in high-tech materials, parts and equipment have recovered and contributed to the development of related industr date2020-11-04

Industry Ministry to launch new division on future cars

Ministry of Trade, Industry and Energy announced on November 3 that it will launch a new division on future cars, which will be in charge of tasks related to R&D, infrastructure, industry convergence, and global regulations of self-driving and eco-friendly vehicles.According to the Ministry, the future car industry is at the core of the Digital New Deal and the Green New Deal, and the launch of the new division is expected to establish a stronger foundation for the growth of the future car i date2020-11-03

Vice Minister Cheong announces Roadmap for Regulatory Innovation in Robot Industry

Trade, Industry and Energy Vice Minister Cheong Seung-il announced the Roadmap for Regulatory Innovation in the Robot Industry, on October 28, in the government’s efforts to encourage the growth of robot technology in the contact-free economy after pandemic.   Korea plans to allocate 194.4 billion won (USD 171.7 million) next year to the robot industry, which is 32% greater than this year, to the development of manufacturing and service robots. date2020-10-29

MOTIE launches Industrial Digital Transformation Alliance

Trade, Industry and Energy Minister Sung Yun-mo attended the Inaugural Ceremony of the Industrial Digital-Transformation Alliance in Seoul on October 28, launched as a follow-up to the digital-based industrial innovation growth strategy announced in August.The alliance is designed to support digital transformation projects in various industrial sectors, and 150 companies and institutions from the following 6 industries participated this time: future cars, home appliances/electronics, healthcare, date2020-10-28

Minister Sung attends conference to encourage cooperation in smart green industrial complex project

Trade, Industry and Energy Minister Sung Yun-mo held a conference with industrial representatives at Banwol Industrial Complex on October 27, to facilitate the successful implementation of the smart green industrial complex strategy. Minister Sung stressed the importance of solidarity and cooperation beyond digital and green transformations of individual businesses, and mentioned that the project on smart green industrial complexes could play a pivotal role as a symbol of Korean New Deal in the date2020-10-27

Korea, Britain discuss post-corona cooperation in industry and energy

Trade, Industry and Energy Minister Sung Yun-mo (second from the left) met with British Secretary of State for Business, Energy and Industrial Strategy Alok Sharma at Lotte Hotel Seoul, on October 26, and the two countries agreed to cooperate closely in the industrial and energy sectors in the post-corona world.They also participated in the signing ceremony for the agreed minutes of the 6th Science, Technology and Innovation Partnership Committee, in Korea and Britain’s efforts to strength date2020-10-26