Ministry of Trade, Industry and Energy

Groundbreaking ceremony of JSR Corporation’s metal oxide resist plant

Deputy Minister for Trade and Investment Kim Dae-ja of the Republic of Korea attended the groundbreaking ceremony of Japanese company JSR Corporation’s metal oxide resist (MOR) production plant on November 12 in Ochang, North Chungcheong Province. date2024-11-13

JSR Corporation to establish EUV metal oxide resist production base in Korea

Deputy Minister for Trade and Investment Kim Dae-ja of the Republic of Korea attended the groundbreaking ceremony of Japanese company JSR Corporation’s metal oxide resist (MOR) production plant today in Cheongju, North Chungcheong Province. Established in 1957, JSR Corporation is a world-leading semiconductor photoresist manufacturer, and has been steadily increasing investment in Korea since building its display materials plant in Ochang in 2003. Today’s groundbreaking ceremony makes JSR Corporation the first company in the world to establish a production base in Korea to manufacture metal oxide resists for extreme ultraviolet lithography (EUV) processing. Capable of replacing low-end chemically amplified resists, EUV metal oxide resists play a key role in securing competitiveness in ultra-fine processes, on which major chip producers are concentrating all their effort. JSR Corporation plans to complete the plant construction and begin mass-producing metal oxide resists by 2026, through which Korea expects to better meet domestic demand and boost its semiconductor industry competitiveness.    date2024-11-12

Trade Minister chairs 41st Trade Promotion Committee meeting

Minister for Trade Inkyo Cheong of the Republic of Korea chaired the 41st Trade Promotion Committee meeting today in Seoul with the participation of relevant ministries, focusing on ways to stably manage Korea-U.S. trade issues in view of the U.S.’ recent presidential election results and future policy shift prospects. date2024-11-11

MOTIE holds 41st Trade Promotion Committee meeting

Minister for Trade Inkyo Cheong of the Republic of Korea chaired the 41st Trade Promotion Committee meeting today in Seoul with the participation of relevant ministries, focusing on ways to stably manage Korea-U.S. trade issues in view of the U.S.’ recent presidential election results and future policy shift prospects. In his opening message, Trade Minister Cheong noted that it is most important to take stock of pending Korea-U.S. trade issues and seek response measures, for which he asked the cooperation of related ministries.  Moreover, he emphasized that whole-of-the-government efforts will be made to ease uncertainties for Korean businesses and ensure that the two countries’ mutually beneficial trade relations continue.   date2024-11-11

Trade Minister Cheong chairs conference with U.S.-invested firms to discuss public-private cooperation

Minister for Trade Inkyo Cheong of the Republic of Korea held a conference today in Seoul with Korean businesses investing in the U.S. to take stock of the post-election investment situation and future public-private joint outreach measures. The conference was attended by representatives of major U.S.-invested companies specializing in semiconductors, electronics, automobiles, battery, renewable energy, and materials chemistry areas. Attendees discussed the future impact on U.S.-invested domestic companies in view of election results, sharing the understanding that public and private sectors need to cooperate to respond effectively to market changes. Trade Minister Cheong stated that the ministry plans to establish a system for close cooperation with industries to share relevant information and ensure timely consultations with the incoming U.S. administration and key industry figures. MOTIE intends to hold relay meetings per each industry to maintain public-private communication and stable trade relations.   date2024-11-08

Trade Minister Cheong chairs conference with U.S.-invested firms

Minister for Trade Inkyo Cheong of the Republic of Korea held a conference today in Seoul with Korean businesses investing in the U.S. to take stock of the post-election investment situation and future public-private joint outreach measures. The conference was attended by representatives of major U.S.-invested companies specializing in semiconductors, electronics, automobiles, battery, renewable energy, and materials chemistry areas including Hyundai Motor, LG Energy Solution, SK On, and Samsung SDI. date2024-11-08

Minister Ahn gives congratulatory message at Invest KOREA Summit 2024

Trade, Industry and Energy Minister Ahn attended the Invest KOREA Summit 2024 today in Seoul with the participation of foreign investors, companies from home and abroad, the chambers of commerce in Korea, embassies to Korea, and local government bodies, who will be taking part in various IKS programs such as the investment declaration ceremony, Invest KOREA (IK) Conference, investor consultations, local governments’ town hall meetings, startup forums, and a foreign media press conference. Minister Ahn gave a congratulatory message, emphasizing commitment to policy efforts to nurture Korea into a high-tech global business hub through stronger advanced industrial capacity, technology and talent innovation, trade landscape stability, and regulatory upheaval. date2024-11-06

Global regional HQ designation ceremony

Trade, Industry and Energy Minister Dukgeun Ahn attended the global regional HQ designation ceremony with Hewlett Packard and Vestas’ representatives today in Seoul. date2024-11-06

Seven global companies declare $0.9 billion worth of investments in Korea

Trade, Industry and Energy Minister Dukgeun Ahn attended a foreign investment declaration ceremony today in Seoul with seven global companies for $0.9 billion worth of investments in areas like semiconductor equipment, car parts, offshore wind power, and logistics date2024-11-06

Korea’s 14 Opportunity and Development Zones kick off new era for noncapital regions

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today its further designation of six Opportunity and Development Zones (ODZs) following the initial designation of eight of these special zones this June (Daegu, Busan, Jeonnam, Gyeongbuk, Jeonbuk, Gyeongnam, Daejeon, Jeju), laying down the groundwork to usher in an era of new growth for noncapital regions across Korea. Roughly 150 companies are planning to make investments amounting to KRW 16.4 trillion in the six new ODZs—Ulsan, Sejong, Gwangju, Chungnam, Chungbuk, and Gangwon—in addition to the previously poured ₩17.4, approaching ₩33.8 trillion in total investment. The new ODZs have managed to attract diverse companies, with each ODZ specializing in industries suitable for the region’s conditions, including electric vehicles (EVs), secondary batteries, petrochemicals, information and communications technology (ICT), software, robotics, pharmaceuticals, car parts, AI datacenters, biopharmaceuticals, hydrogen, food products, defense, semiconductors, EV materials, battery modules, and minerals. ODZ incentives have also induced some businesses to either turn back from their overseas investment schemes to domestic investments or relocate their facilities based in the Seoul capital area to noncapital parts. With all 14 noncapital regions’ cities and provinces now designated as ODZs, the total investment in Korea’s noncapital regions amounts to ₩74.3 trillion. MOTIE plans to closely monitor investment issues to ensure the timely implementation of planned investments.   date2024-11-06