Ministry of Trade, Industry and Energy

Minister Ahn visits EO Technics

Trade, Industry and Energy Minister Dukgeun Ahn visited semiconductor and display laser and equipment manufacturer EO Technics in Anyang on August 20 after the meeting on the ministry’s Super Supplier Project, where he toured the production lines and encouraged workers. date2024-08-22

Korea boosts technical regulatory cooperation with Saudi Arabia and GCC

Director General Lee Chang-soo, in charge of technical regulatory response at the Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy (MOTIE), is heading the Korean delegation visiting Riyadh through August 11–13 to hold a meeting with the Saudi Standards, Metrology and Quality Organization (SASO) and the GCC Standardization Organization (GSO) for discussions on measures to strengthen technical regulatory cooperation. As Korea’s seventh largest trade partner, Saudi Arabia is high up on Korean companies’ list of attractive export destinations. Accordingly, KATS has been making long and consistent effort to push technical regulatory cooperation with SASO and GSO, entering into memorandums of understanding (MOUs) with each in 2008 and 2011, respectively. In January, a Saudi team visited Korea for the first time since the pandemic outbreak to give a briefing on technical regulatory policies and related updates. This visit to Riyadh is an extension of the above technical regulatory cooperation. Notably, domestic companies like LG Electronics and Hyundai Motor joined the delegation to take part in the meeting to provide in-person explanations of their challenges and discussed possible solutions. During the two-day meeting, the parties examined nine issues brought forward by Korean firms. Among the nine, three issues were resolved, including the requirements for minimum energy efficiency and fuel cell electric vehicles (FCEVs) exceeding 3.5 metric tons. The other six remain for further discussions, including the issue of EV certification.  Director General Lee stated that for other export destinations with which Korean firms require assistance in technical regulatory compliance, the Government will likewise make site visits to swiftly resolve issues.   date2024-08-21

Minister Ahn chairs Super Supplier Project Conference

Trade, Industry and Energy Minister Dukgeun Ahn chaired the Super Supplier Project Conference on August 20 at EO Technics in Anyang, where he announced the Korean government’s measures for nurturing materials, parts, and equipment (MPE) companies into “Super Suppliers” that are capable of wielding absolute dominance over the global supply chain. The conference was attended by representatives of domestic MPE firms and relevant institutions, including Jahwa Electronics, PI Advanced Materials, the Korea Trade-Investment Promotion Agency (KOTRA) and Korea Evaluation Institute of Industrial Technology (KEIT). date2024-08-20

MOTIE to launch Super Supplier Project

Trade, Industry and Energy Minister Dukgeun Ahn chaired the Super Supplier Project Conference on August 20 at EO Technics in Anyang, where he announced the Korean government’s measures for nurturing materials, parts, and equipment (MPE) companies into “Super Suppliers” that are capable of wielding absolute dominance over the global supply chain. The conference was attended by representatives of domestic MPE firms and relevant institutions, including Jahwa Electronics, PI Advanced Materials, Korea Trade-Investment Promotion Agency (KOTRA) and Korea Evaluation Institute of Industrial Technology (KEIT). The term "Super Supplier" (from Korean expression "Super Eul") refers to a market-leading company that has established a prominent status in the global supply chain based on unrivaled technological prowess. A good example of a super supplier would be the Dutch company ASML, the world’s exclusive producer of photolithography machines. The Ministry of Trade, Industry and Energy (MOTIE) plans to concentrate support to help homegrown MPE firms grow into super suppliers through the following triple “super” package: Super R&D, Super Pass, and Super Growth.  First, MOTIE will provide exclusive R&D support to MPE companies for their development of the world’s first or most advanced supply chain chokepoint technologies. The Super Supplier R&D Committee, composed of Korea’s top experts in areas of technology, market and investment, will evaluate companies based on their R&D growth strategy roadmap to select grant recipients of a seven-year program funding the R&D process from prior technology to commercialization to subsequent technology. For early commercialization and global market penetration, the ministry will manage a Super Pass program that threads together services in patenting, standardization, certification, global buyer matching, and export assistance. It will also give stronger backing for obtaining patent grants from the Trilateral Offices and prioritized support towards performance assessments on overseas mass production, while providing tailored export assistance programs by leveraging KOTRA’s market research and Global Partnering (GP) Centers. Furthermore, MOTIE intends to launch a Super Growth Package that offers financial, investment, and tax incentives as well as infrastructure support. In 2025, the Government will create a Super Supplier Growth Fund, while also making effort to increase the number of MPE testbeds and digital simulation platforms to reduce the materials development cycle time. In the fourth quarter of this year, MOTIE plans to announce its MPE Industry Growth Support Strategy incorporating additional measures based on opinions from industry insiders and experts.   date2024-08-20

Korea’s automobile exports log $5.4 bln in July

The Ministry of Trade, Industry and Energy (MOTIE) announced that Korea’s automobile exports for the month of July 2024 reached USD 5.4 billion (down 9.1 percent year-on-year), coming in at an all-time second highest for the month of July. The accumulated value of automobile exports through January–July this year amounts to a historic $42.4 billion (up 2.0 percent year-on-year). July exports of automobile parts recorded $2.2 billion (up 9.5 percent), the first time in seven years and eight months to surpass the $2.2 billion mark. Meanwhile, the number of automobiles produced in Korea during July added up to 290,910 units (down 17.6 percent year-on-year). The decline is attributed to major domestic automakers’ wage and collective bargaining agreement (CBA) negotiations, coinciding with summer breaks concentrated in the last week of July. Production is anticipated to revive in August along with the higher number of working days for the industry. Domestic sales contracted 2.7 percent to 132,396 units. Despite Korean automobiles falling 6.0 percent in domestic sales, the top 10 models sold in July were all homegrown cars. Eco-friendly car sales jumped 19.1 percent to 50,325 units, among which hybrid electric vehicles (HEVs) showed a steep climb of 22.4 percent and led the green car market. With the Special Act on Future Automotive Parts Industry Transition and Ecosystem Development having entered into force on July 10 in Korea, MOTIE is mulling various measures to support domestic car parts companies’ transition to future mobility, while also actively seeking to resolve issues faced by exporting businesses.   date2024-08-16

Korea’s ICT exports rise 32.8% in July

The Ministry of Trade, Industry and Energy (MOTIE) announced that Korea’s export and import of information and communication technology (ICT) goods reached USD 19.4 billion and $12.1 billion, respectively, for the month of July 2024. The trade balance stood at a surplus of $7.3 billion. Backed by robust exports of main items like semiconductors, displays, mobile phones, and computers/peripherals, ICT exports for July advanced 32.8 percent year-on-year, their growth rate entering the 30 percent thresholds for four months straight since April. Semiconductors (up 49.0 percent), displays (up 2.0 percent), mobile phones (up 69.4 percent), and computers/peripherals (up 51.1 percent) were among the major items driving growth. By region, exports were seen climbing across most destinations, including China (including Hong Kong) (up 31.1 percent), Vietnam (up 23.7 percent), the U.S. (up 40.1 percent), and the EU (up 23.5 percent). Meanwhile, Korea’s July import of ICT goods increased 6.0 percent year-on-year as demand for semiconductors, displays, and other key components increased.   date2024-08-16

19th International Standards Olympiad Closing Ceremony

Korean Agency for Technology and Standards (KATS) President Jin Jong-wook awarded the Singaporean team KOPI the Prime Minister’s Award for winning the Platinum Prize in the 19th International Standards Olympiad on August 14 in Asan and gave a closing address to 120 students from 11 countries. date2024-08-16

19th International Standards Olympiad successfully closes with competition and harmony among young standards talent

The Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy (MOTIE) announced the successful closing of the 19th International Standards Olympiad on August 14 in Asan, Cheonan, with the participation of an all-time high total of 200 students and teachers from 11 countries around the world in the global three-day event. For the main competition, 40 teams consisting of middle and high school students engaged in the competition through presentations and international standard document drafting on advanced technology products used in daily life, such as measures to evaluate the performance of smart devices’ voice recognition (middle school teams) and ethical guidelines on the utilization of artificial intelligence (AI) technology (high school teams). Based on the judges’ results, Team KOPI from Singapore won the highest score and took the Platinum Prize, receiving the Prime Minister’s Award for its proposed international standard document on ethical AI utilization. Four teams (Korea, Malaysia, Singapore, Uzbekistan) won the gold prize and were awarded the Trade, Industry and Energy Minister’s Award. date2024-08-14

K-Display 2024 opening ceremony

Deputy Minister for Industry Policy Lee Seung-ryeol attended K-Display 2024 on August 14 at COEX in Seoul, held with the participation of 157 companies, and awarded LG Display with Governmental commendations and toured the exhibition booths featuring OLED and other latest technologies. date2024-08-14

Next-generation display standardization roadmap sets out to secure global technology super gap

The Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy (MOTIE) held the international forum on display standardization “K-Display 2024” on August 14 at COEX in Seoul with the participation of industry, academia, and R&D experts from around the world, and announced the Next-Generation Display Standardization Roadmap (“Roadmap”). The designing of the Roadmap began last year as part of the Government’s strategy announced this May for the standardization of Korea’s advanced industries, by gathering opinions via display standardization forums, expert committees, and related conferences involving industry insiders, academia, and researchers. As major standardization candidate technologies, the Roadmap has selected organic light emitting diodes (OLEDs), implantable light-emitting diodes (iLEDs), and other materials and parts deemed essential for securing new market leadership in the global display industry. It further proposes to set eight of domestic companies’ technologies as international standards by 2027, while also presenting strategies for the development of 11 national standard technologies on providing corporate assistance, such as in test evaluations.  Homegrown candidate technologies for international standards were uncovered based on corporate demand. In the OLED category, the Roadmap includes three technologies, including those on rollable display form factor change and augmented and virtual reality (AR/VR) display performance evaluation. Selected for the iLEDs category are also three technologies, including those on dynamic and optical properties measurement. The materials and parts category includes two technologies, including one on the mechanical properties measurement of ultra-thin glass. At K-Display 2024, experts from Korea, Germany, and the U.S. introduced measurement solutions for automotive displays and extended reality (XR) display performance standards, followed by presentations and discussions on standardization trends in carbon neutrality. date2024-08-14