Ministry of Trade, Industry and Energy

Korea's auto exports in 2023 surpass previous record by over 30%

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 16 that the annual export value of automobiles hit a record-breaking USD 70.9 billion in 2023, surpassing the previous record of $54.1 billion in 2022 by over 30 percent. The achievement is attributed to the strategic expansion of the proportion of high value-added eco-friendly cars (up 51 percent year-on-year to $24.2 billion) in automotive exports in step with the global shift towards green and automation. The export unit date2024-01-16

MOTIE & MSIT ministers give joint press briefing on chip mega cluster

Trade, Industry and Energy Minister Dukgeun Ahn held a public forum on measures for nurturing Korea’s chip mega cluster on January 15 with the Science and ICT Minister Lee Jong-ho under the theme of “Semiconductor Industry for Enriching Public Livelihood” at the Government Complex Seoul and gave a press briefing and held a Q&A session. date2024-01-16

MOTIE and MSIT hold joint public forum on measures for nurturing world's largest chip cluster

The Ministry of Trade, Industry and Energy (MOTIE) and Ministry of Science and ICT (MSIT) held a joint discussion forum on measures for nurturing the world’s largest semiconductor mega cluster on January 15 with the participation of 110 civilians, composed of students, young researchers, residents of mega cluster districts and semiconductor industry workers under the theme of “Semiconductor Industry for Enriching Public Livelihood.” The “Mega Cluster” area refers t date2024-01-16

Integrated Korean exhibition garners success at CES 2024

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 14 that the Korean exhibition at Consumer Electrics Show (CES) 2024 garnered much attention from foreign buyers thanks to the integrated brand value of Korean firms and their technological innovations. Key figures of global companies, including Microsoft Chairman and CEO Satya Nadella, paid their visit to the Korean exhibition at CES 2024, in which an all-time high number of 443 Korean firms participated this year. To note, date2024-01-15

Minister Ahn visits major semiconductor exporter

Trade, Industry and Energy Minister Dukgeun Ahn visited SK Hynix, a major chip producer in Korea, on January 11 to inspect the semiconductor production lines and listened to difficulties experienced by industry personnel. The meeting was attended by representatives of related institutions and businesses, including the Korea Trade-Investment Promotion Agency (KOTRA), K-SURE, Korea Semiconductor Industry Association (KSIA), TEMC and Jusung Engineering. date2024-01-12

Korea Trade Commission launches investigations into alleged patent infringement of Chinese secondary batteries and cathodes

The Korea Trade Commission ('Commission') held the 444th Trade Commission Meeting on January 11 at the Government Complex Sejong for launching investigations on the alleged patent infringement of NCM811 cathode materials produced in China and of smartphones embedded with Chinese secondary batteries. The investigations on the smartphone secondary batteries were requested by another Chinese firm that supplies China-made smartphones and Semiconductor Energy Laboratory Co., a Japanese importer and date2024-01-12

Semiconductors to spearhead Korea's export growth in 2024

Trade, Industry and Energy Minister Dukgeun Ahn visited SK Hynix, one of Korea’s major semiconductor producers, on January 11 and listened to the challenges experienced by industry personnel and inspected production lines firsthand, refreshing the resolution to promote Korea’s exports this year on the heels of the visit to a major automaker at Pyeongtaek Port on his first outing after taking office. At the conference held at SK Hynix, Minister Ahn stated that “despite the glob date2024-01-11

MOTIE to roll out measures for stabilizing supply chain in 2024

Starting this year, the Ministry of Trade, Industry and Energy (MOTIE) will be launching measures to stabilize the supply chain in earnest following the Industrial Supply Chain Strategy announced on December 13. First, the ministry will drastically up the R&D budget on key supply chain items from last year’s KRW 17.6 billion to 73.9 billion won this year. Support will go towards the technological development of 29 key items like secondary battery materials and electrical and electroni date2024-01-11

Minister Ahn visits KITA

Trade, Industry and Energy Minister Dukgeun Ahn visited the Korea International Trade Association (KITA) on January 10 after taking post and held talks with KITA Chairman Koo Ja-yeol to discuss measures for close communication between public and private sectors with top policy priority on promoting exports. date2024-01-11

Minister Ahn makes first stop at KITA in initiating cooperation with leading economic entities

Trade, Industry and Energy Minister Dukgeun Ahn visited the Korea International Trade Association (KITA) on January 10 and held talks with KITA Chairman Koo Ja-yeol. The visit is part of the minister’s aim to strengthen communication with Korea’s six major economic entities after taking post, emphasizing close communication between public and private sectors with utmost policy priority on promoting exports. Minister Ahn noted the need for the public and private sectors to work as &l date2024-01-10