Ministry of Trade, Industry and Energy

Minister stresses importance of amending laws and sentencing guidelines in preventing tech leaks

Trade, Industry and Energy Minister Bang Moon Kyu chaired the 47th Industrial Technology Protection Committee meeting on December 20 and highlighted that for the protection of industrial technology, it is important to impose strict punishment on those that commit technology leak crimes, and that it is necessary that the industrial technology protection laws be swiftly amended and sentencing guidelines be adjusted to better reflect reality. The meeting was this year’s seventh and last Comm date2023-12-21

MOTIE announces outcome of KNCP's arbitration procedures between Chanel Korea's labor union and management

The Ministry of Trade, Industry and Energy (MOTIE) held the Korean National Contact Point (KNCP) Committee meeting on December 19 and announced the adoption of the final statement issued over the complaint filed by the Chanel Korea labor union against its management in accordance with the OECD Guidelines for Multinational Enterprises, and closed the case. Chanel Korea’s labor union filed a complaint to KNCP on December 10 for the management’s alleged failure to take adequate measure date2023-12-20

Korea to push forward transition to clean hydrogen ecosystem

The Korean government held the sixth Hydrogen Economy Committee meeting on December 18 at the Lotte Hotel Seoul, chaired by Prime Minister Han Duck-soo, to announce major policies for accelerating the transition to a clean hydrogen ecosystem and nurturing the hydrogen industry. During the meeting, attendees discussed four main policy agendas: clean hydrogen certification system management measures, strategy for nurturing the hydrogen industry’s MPE (materials, parts, equipment) sectors, m date2023-12-20

Vice Minister meets with French Minister for Foreign Trade, Attractiveness and French Nationals Abroad

Trade, Industry and Energy Vice Minister Youngjin Jang met Olivier Becht, the French Minister for Foreign Trade, Attractiveness and French Nationals Abroad, on December 19 in Seoul to request cooperation in trade issues, including France’s electric vehicle (EV) subsidies, and discussed measures for expanding industrial cooperation in aerospace, R&D and carbon-free energy, such as nuclear power. date2023-12-20

Korea and Mongolia launch 1st official negotiating round for EPA

Ahn Chang-yong, MOTIE’s Director General for FTA Policy, and Batkhuu Idesh, State Secretary of Mongolia’s Ministry of Economy and Development, headed their respective delegations in the first official negotiating round for Korea-Mongolia EPA on December 18 in Seoul, where they launched negotiations on products, services, investment, economy, development cooperation and digital. date2023-12-19

Korea and Saudi industry ministers discuss economic summit diplomacy outcomes

Trade, Industry and Energy Minister Bang Moon Kyu met with Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef on December 15 in Seoul to review Korea-Saudi economic summit diplomacy outcomes and discuss follow-up measures. The two ministers then attended the ceremony for signing of an MOU between KG Mobility and Saudi National Automobiles Manufacturing Company (SNAM) for collaboration in producing new batches of electric vehicles (EVs), and another between date2023-12-19

Vice Minister discusses EV subsidies and other trade issues with French Trade Minister

Trade, Industry and Energy Vice Minister Youngjin Jang met Olivier Becht, the French Minister for Foreign Trade, Attractiveness and French Nationals Abroad, on December 19 in Seoul to request cooperation in trade issues, including France’s electric vehicle (EV) subsidies, and discussed measures to expand industrial cooperation in aerospace, R&D and carbon-free energy, such as nuclear power. France unveiled the list of EVs eligible for subsidies on December 15, the majority of which ar date2023-12-19

Korea and China hold 1st supply chain hotline meeting

The Ministry of Trade, Industry and Energy (MOTIE) and China’s Ministry of Commerce held the first supply chain hotline meeting and the fourth working-level meeting on the Korea-China industrial cooperation complex on December 18 in Seoul. The meetings were held to push close supply chain cooperation between the two countries through the invigoration of the supply chain hotline as agreed during the commerce ministers’ talks in San Francisco this November and during the fifth Korea-Ch date2023-12-19

MOTIE holds conference for sharing foreign investment regulatory improvement outcomes & future direction

The Ministry of Trade, Industry and Energy (MOTIE) held a conference on December 18 at the Korea Chamber of Commerce and Industry (KCCI), chaired by MOTIE's International Trade & Investment Deputy Minister Kim Wan-ki, to share foreign investment policy trends, regulatory improvement outcomes and discuss the challenges voiced by foreign-invested companies. The conference was attended by approximately 20 persons, consisting of representatives of the Chambers of Commerce of seven countries, in date2023-12-19

Korea and Mongolia launch first official negotiating round for EPA

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 18 that the first round of official negotiations for the Korea-Mongolia Economic Partnership Agreement (EPA) will be held through December 18-20 in Seoul. Ahn Chang-yong, MOTIE’s Director General for FTA Policy, and Batkhuu Idesh, State Secretary of Mongolia’s Ministry of Economy and Development, are each heading their respective delegations composed of a total of approximately 100 members from both countries. date2023-12-18