Ministry of Trade, Industry and Energy

Korea's ICT exports grow 7.6% in November

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 14 that Korea's exports and imports of information and communications technology (ICT) goods for November recorded USD 17.9 billion (up 7.6 percent year-on-year) and $11.4 billion (down 10.9 percent), respectively. The trade balance stood at a surplus of $6.4 billion. ICT exports snapped the losing streak after 17 months of decline as semiconductor exports posted growth for the first time in 16 months. By item, semiconduc date2023-12-15

MOTIE holds supply chain strategy meeting

Trade, Industry and Energy Minister Bang Moon Kyu chaired the Industrial Supply Chain Strategy Meeting on December 13 at POSCO Future M, the sole producer of natural graphite anodes in Korea, where the Ministry of Trade, Industry and Energy (MOTIE) presented the Industrial Supply Chain Strategy for reducing the import dependence of critical supply chain items on the occasion of enforcing the special act for stabilizing MPE (materials, parts, equipment) industries and supply chains. date2023-12-14

Total of 19 MOUs sealed at Korea-Netherlands Business Forum for cooperation in advanced industries and more

Minister for Trade Dukgeun Ahn and the Netherlands' Minister of Economic Affairs and Climate Policy Micky Adriaansens attended the Korea-Netherlands Business Forum on December 13, co-hosted by the Korea International Trade Association (KITA), the Dutch Foreign Affairs Ministry and VNO-NCW, the Dutch employers' federation. This was the first large-scale business forum held by the two countries, attended by approximately 200 business representatives to discuss measures for widening bilateral coope date2023-12-14

Minister Bang discusses Korea's chip industry future with young business leaders

Trade, Industry and Energy Minister Bang Moon Kyu visited the Samsung Electronics Pyeongtaek Campus on December 14 to chair a conference discussing industry issues and challenges with young business leaders and inspected the semiconductor production facilities. The conference was attended by representatives of Samsung Electronics, FRD, GigaLane, OPENEDGES Technology, Mobilint, Rebellions and other fabless semiconductor companies and MPE (materials, parts, equipment) businesses leading the expa date2023-12-14

Korea and Netherlands to bolster supply chain cooperation on key items

The Ministry of Trade, Industry and Energy (MOTIE) signed a memorandum of understanding (MOU) for supply chain cooperation on key items with the Netherlands on the occasion of President Yoon Suk Yeol’s state visit through December 11-14. The two countries plan to launch monitoring collaboration for joint response to the realignment of global supply chains concerning semiconductors and other advanced industries, for which a key item supply chain dialogue channel will be installed at the d date2023-12-14

Korea and Netherlands to deepen nuclear cooperation on occasion of state visit

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 13 that it entered a memorandum of understanding (MOU) with the Netherlands’ Ministry of Economic Affairs and Climate Policy for nuclear reactor cooperation on the occasion of President Yoon Suk Yeol’s state visit. Korea Hydro & Nuclear Power (KHNP) also sealed a technical feasibility study agreement for construction of a new nuclear reactor with the Economic Affairs and Climate Policy Ministry. The Netherl date2023-12-14

MOTIE announces supply chain strategy to halve critical items' import dependence by 2030

Trade, Industry and Energy Minister Bang Moon Kyu chaired the Industrial Supply Chain Strategy Meeting on December 13 at POSCO Future M, the sole producer of natural graphite anodes in Korea, where the Ministry of Trade, Industry and Energy (MOTIE) presented the Industrial Supply Chain Strategy for reducing the import dependence of critical supply chain items on the occasion of enforcing the special act for stabilizing MPE (materials, parts, equipment) industries and supply chains. Considering date2023-12-13

Korea spurs support for Uzbekistan's WTO accession

The Ministry of Trade, Industry and Energy (MOTIE) held a seminar, joint advisory committee meeting and bilateral negotiations in Tashkent on December 13 for supporting Uzbekistan’s WTO accession. The seminar was attended by approximately 40 persons, including Uzbekistan’s Presidential Office and both countries’ government officials, research institutions and academia experts. The Korean delegation gave a presentation on the WTO Agreement on Subsidies and Countervailing Measur date2023-12-13

Korea bolsters chip cooperation with the Netherlands during state visit

Minister for Trade Dukgeun Ahn visited ASML Headquarters located in Veldhoven, Netherlands, on December 12 on the occasion of President Yoon Suk Yeol's state visit to attend the Korea-Netherlands Semiconductor Business Conference where both countries’ major chip companies’ representatives attended. At the event, the trade chief signed the memorandum of understanding (MOU) on the establishment of the Korea-Netherlands Advanced Semiconductor Academy with Geoffrey van Leeuwen (VVD), the date2023-12-13

Korea and EU launch official negotiations for digital trade agreement

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 13 that the first official negotiating round for the Korea-EU Digital Trade Agreement will be held through December 13-15 in Brussels, Belgium, the first official negotiating session convened since the declaration on the launch of official negotiations in October, led by Korea’s Minister for Trade Dukgeun Ahn and the European Commission Executive Vice-President Valdis Dombrovskis. Through the digital trade negotiatio date2023-12-13