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Energy
2nd Vice Minister attends World Climate Industry Expo
Trade, Industry and Energy 2nd Vice Minister Kang Kyung-sung attended the opening ceremony of the World Climate Industry Expo 2023 on May 25 in Busan, which was held under the theme of “Rising Above the Climate Crisis towards Sustainable Prosperity.” The event was also attended by Korea’s Prime Minister Han Duck-soo, Busan City Mayor Park Hyeong-joon, Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won and Stephen Dunbar-Johnson, President, International for Th date2023-05-30
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Energy
2nd Vice Minister attends World Climate Industry Expo Business Summit
Trade, Industry and Energy Ministry’s 2nd Vice Minister Kang Kyung-sung attended the Business Summit in Busan on May 25, held as one of the first program sections of the World Climate Industry Expo 2023. The Business Summit consisted of a session on low carbon energy on May 25 and another on environment, social, governance (ESG) on May 26, to discuss the growth strategy of global companies’ green businesses and their responsibilities and duties for a sustainable future. The Low Car date2023-05-30
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Energy
Minister Lee visits secondary battery plant
Trade, Industry and Energy Minister Lee Chang-yang visited the LG Energy Solution plant in Ochang on May 25 to review the achievements and future tasks of the secondary battery industry. In his opening message, Minister Lee stated that “more of the industry’s opinions will be taken into consideration and more support given so that Korea can grow into a global powerhouse for secondary batteries.” He received a company briefing from LG Energy Solution President Lee Bang- date2023-05-30
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Industry
Minister Lee reviews future tasks of battery industry
Trade, Industry and Energy Minister Lee Chang-yang visited the LG Energy Solution plant in Ochang on May 25 to review future tasks of the secondary battery industry. According to the Korea Institute for Industrial Economics & Trade (KIET), battery and materials are forecast to enter Korea’s top-five tier of export items within five years. Cathode materials’ export value grew 2.6-fold last year, and already doubled in 2023 year-on-year. Battery exports reached record-breaking l date2023-05-30
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Industry
MOTIE holds Automobile Parts Industry Strategy Roundtable
Trade, Industry and Energy Minister Lee Chang-yang chaired the Automobile Parts Industry Strategy Roundtable on May 23 at the Four Seasons Hotel Seoul, which was held to support the auto parts industry’s response to the automobile industry’s paradigm shift towards electrification, intellectualization and autonomous driving. Prior to the Roundtable, Minister Lee attended the memorandum of understanding (MOU) signing ceremony, where the Korea Auto Industries Corp. Association (KAICA) date2023-05-26
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Industry
MOTIE holds Automobile Parts Industry Strategy Roundtable
Trade, Industry and Energy Minister Lee Chang-yang chaired the Automobile Parts Industry Strategy Roundtable on May 23 at the Four Seasons Hotel Seoul and announced support measures for future car transition and exports, as follow-up to President Yoon Suk-yeol’s recent call for measures to strengthen Korea’s automobile parts industry competitiveness to enable timely response to the future car transition and the paradigm shift to electrification, intellectualization and autonomous dri date2023-05-26
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Trade/Investment
Korea and Chile restart negotiations for upgrading FTA
Trade, Industry and Energy Ministry’s FTA Policy Planning Director Ahn Chang-yong headed the Korean delegation for the seventh round of official negotiations to upgrade a free trade agreement (FTA) with Chile on May 22-24 in Santiago. The seventh round of negotiations were launched subsequent to follow-up consultations between the two countries on the occasion of Korean Prime Minister Han Duck-soo’s visit to Chile last October. Prior to negotiations, delegation head Ahn stated that date2023-05-26
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Trade/Investment
Korea and Germany discuss measures to bolster supply chain cooperation
Minister for Trade Dukgeun Ahn met with Jörg Kukies, Germany’s State Secretary for Economic, Finance and European Affairs at the Federal Chancellery, on May 22 at the Lotte Hotel Seoul to discuss measures to bolster Korea-Germany supply chain cooperation. Germany is Korea’s largest European trading partner, with bilateral trade reaching historic highs in 2022 (USD 33.7 billion). The two countries’ economic and industrial supply chain cooperation is expected to deepen on t date2023-05-25
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Trade/Investment
MOTIE sends economic delegation to Estonia, Lithuania & Finland
Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin is heading Korea’s economic delegation to Estonia, Lithuania and Finland and meeting with high-level officials through May 22-26 to discuss measures for expanding trade and investment, industrial cooperation in secondary batteries, bio and nuclear energy, cooperation on EU trade issues and in digital, high-tech areas. The economic delegation includes members from the Korea Trade-Investment Promotion Agency (KO date2023-05-25
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Trade/Investment
Korea and Singapore hold 1st Digital Economy Dialogue
Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin attended the 1st Korea-Singapore Digital Economy Dialogue on May 19 at the Korea International Trade Association (KITA), where representatives of the two countries’ digital firms gathered to discuss bilateral cooperation measures. A first digital trade agreement for Korea, the Dialogue was hosted by Korea’s Ministry of Trade, Industry and Energy (MOTIE) and Singapore’s Ministry of Trade and Industr date2023-05-25