Ministry of Trade, Industry and Energy

Minister Ahn chairs 35th Energy Commission

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea chaired the 35th Energy Commission meeting on March 14 in Seoul for deliberation on the Government’s plans regarding energy supply and demand during emergencies, gas safety management, and electrical safety management. date2025-03-17

Trade Minister meets U.S. Senator Andy Kim

Minister for Trade Inkyo Cheong held talks with U.S. Senator Andy Kim on March 13 in Washington D.C. and discussed stronger Korea-U.S. supply chain cooperation as well as economic and trade cooperation measures. date2025-03-14

Trade Minister holds conference with Korean steel businesses operating in U.S.

Minister for Trade Inkyo Cheong chaired a conference with Korean steel businesses locally operating in the U.S. on March 13 (local time) in Washington D.C. with the participation of POSCO, Hyundai Steel, Hyundai Motor, KOTRA, and KITA and discussed steel tariffs and industry response measures. date2025-03-14

Korean government holds 35th Energy Commission meeting

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held the 35th Energy Commission meeting today for deliberation on the Government’s plans regarding energy supply and demand during emergencies, gas safety management, and electrical safety management. The Korean government has been preparing response measures against national energy emergencies by establishing the Energy Supply and Demand Plan for Emergencies under the Energy Act. In light of the rapidly changing energy supply and demand landscape due to Korea’s shifting energy mix, geopolitical uncertainties like the Russia-Ukraine war, and climate anomalies, the Government has laid out response measures to various possible emergency scenarios. The distinguished feature of the most recently established Energy Supply and Demand Plan for Emergencies is its adjustment of the nation’s energy mix set previously comprising electrical power, crude oil, gas, and coal to electrical power, crude oil, gas, and thermal power amid the declining demand for coal and rising use of thermal energy. The plan expands the scope of power emergency management to cover not only supply and demand but the electrical power system as well, in view of increased use of renewable energy and ensuing power system volatility. Since 2015, the Government has been renewing the Basic Plan for Gas Safety Management every five years on account of the flammability and explosion risks of gas. The recently established third Basic Plan for Gas Safety Management differs from the previous version in that it contains safety standards for new hydrogen technologies and related infrastructure expansion measures in response to Korea’s growing hydrogen economy. Moreover, in view of the increasing number of old gas facilities, the Government will push the transition to a digital-based constant safety management system through a more active deployment of information technology while also reinforcing private sectors’ safety management. Korea’s electrical power consumption is on an upward trend owing to datacenters and such power-intensive facilities, and the complexity and scale of electrical power accidents and damages are growing as well. Accordingly, the Government established the first Electrical Safety Management Basic Plan this year, outlining measures for enhanced safety management that cater to the more vulnerable targets including multipurpose facilities, industrial complexes, and socially disadvantaged groups. The plan further aims to promote flexible and field-oriented electrical safety management methods, the innovation of safety management based on cutting-edge technologies, and the nurturing of private-led safety management efforts in developing the electrical safety industry. Minister Ahn stated that the Government will continually strive to innovate the safety management system in step with various changes such as the growth of the hydrogen economy and advanced industries’ increased power demand to accommodate the safe energy consumption of Korean citizens.   date2025-03-14

Minister Ahn talks with Australia’s Trade and Tourism Minister

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held a videoconference meeting with Australia’s Trade and Tourism Minister Don Farrell on March 11, during which they exchanged views on the global trade environment and agreed to closely cooperate on securing supply chain stability. date2025-03-12

Trade Minister attends 12th Korea-EU FTA Trade Committee meeting

Minister for Trade Inkyo Cheong of the Republic of Korea attended the 12th Korea-EU FTA Trade Committee meeting on March 10 in Brussels and discussed various issues including sanitary and phytosanitary (SPS) measures, electric vehicle (EV) subsidies, and market access with the EU delegation led by European Commissioner for Trade and Economic Security Maroš Šefčovič. date2025-03-12

Trade Minister meets European Commissioner for Trade and Economic Security

Minister for Trade Inkyo Cheong of the Republic of Korea held talks with European Commissioner for Trade and Economic Security Maroš Šefčovič on March 10 in Brussels and discussed the changing global trade landscape and trade cooperation measures. date2025-03-12

Korea and Mongolia bolster full life cycle cooperation for rare metals

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea held the second Korea-Mongolia Rare Metals Cooperation Joint Committee (“Committee”) meeting today in Seoul to boost bilateral cooperation for rare metals supply chains. The Committee is a follow-up to the signing of a memorandum of understanding (MOU) on rare metals supply chain cooperation forged during the Mongolian prime minister's visit to Korea in February 2023. Deputy Minister for Energy Policy Lee Ho-hyeon and Mongolia’s State Secretary of the Ministry of Industry and Mineral Resources Javkhlanbaatar Sereeter led their respective delegations in today’s meeting to discuss various measures for rare metals cooperation with the participation of both countries’ relevant ministries and institutions. By this November, the two countries are looking forward to completing the establishment of materials and equipment for the Korea-Mongolia Rare Metals Cooperation Center, which will serve to support Korean firms’ rare metals technology development as an outpost for entry into Mongolia’s mineral development projects.  Through joint exploration between the Korea Institute of Geoscience and Mineral Resources (KIGAM) and Mongolia’s Geological Center for Research and Analysis (GCRA), efforts will be made to identify rare metal reserves in Mongolia and conduct demonstrations of Korean companies’ exploration technologies. The Korea Institute of Energy Technology Evaluation and Planning (KETEP) plans to launch an R&D project to expedite Mongolia’s tin mining development and contribute to Korea’s supply chains through the application of smart mining technologies suitable for Mongolian sites and the securing of beneficiation pilot plant technologies. Going forward, Korea and Mongolia will be engaging in joint efforts spanning the entire life cycle from exploration to development centering on economically feasible rare metals with aim to stabilize Korea’s supply chains and spur the development of Mongolia’s mineral resources.   date2025-03-12

Korea and Australia discuss trade cooperation

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held a videoconference meeting with Australia’s Minister for Trade and Tourism Don Farrell today, during which they exchanged views on the global trade environment and agreed to closely cooperate on securing supply chain stability. Noting the continually expanding scope of Korea-Australia trade and investment based on their mutually complementary trade structures, Minister Ahn proposed that the two countries advance their existing cooperative ties in energy and resources toward forward-looking areas such as supply chains, clean economy, and digital. Moreover, Minister Ahn requested the Australian government’s interest and support in facilitating the critical minerals and other local projects invested in by Korean businesses. He also called for the active participation and cooperation of Australian authorities and companies for Korea’s successful hosting of APEC 2025 as this year’s APEC chair. date2025-03-11

Korea’s Ambassador for International Investment Cooperation to carry out various outreach with major U.S. think tanks

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Ambassador for International Investment Cooperation Choi Joong-kyung is visiting Washington D.C. through March 10–14 to engage in various outreach activities with major U.S. institutions to strengthen Korea-U.S. economic, industrial, and investment cooperation. Appointed this January by the Korean government as an ambassador-at-large, Ambassador Choi will be visiting think tanks, the U.S. Chamber of Commerce, and companies to expand the scope of bilateral cooperation through discussions on promising areas for industrial cooperation. First, a seminar for promoting Korea-U.S. industry and investment cooperation will be held on March 11 (local time) at the Heritage Foundation, one of the leading U.S. think tanks, where Ambassador Choi introduces the potential and industrial competitiveness of the Korean economy to relevant experts, business leaders, and special correspondents, highlighting that the two countries are most suitable partners for economic and industrial cooperation as allies sharing common values of democracy and free market economy. In his keynote address, Ambassador Choi states that the U.S.’ advanced technology and Korea’s manufacturing capacity can create mutually beneficial synergy based on the two countries’ complementary industrial structures. He proposes that shipbuilding, defense, AI and semiconductors, nuclear reactors, energy, and batteries are six promising areas of bilateral industrial cooperation, maintaining that both countries will be able to enhance their global competitiveness through combining the U.S.’ cutting-edge technologies and security cooperation needs with Korea’s manufacturing infrastructure and highly skilled human resources. Ambassador Choi adds that policy continuity and legal stability are essential prerequisites for Korean companies’ wider investments in the U.S. going forward in areas such as semiconductors, batteries, and other manufacturing sectors, underscoring the need for transitional measures in adjusting existing policies when it comes to business projects for which investments have already been made. During his visit, Ambassador Choi plans to also meet with key experts at the U.S. Chamber of Commerce, Peterson Institute for International Economics (PIIE), Korea Economic Institute of America (KEI), Brookings Institution, and the Center for Strategic and International Studies (CSIS) to discuss strategic bilateral cooperation across all areas including politics, economy, security, and international environment.   date2025-03-11