Ministry of Trade, Industry and Energy

MOTIE discusses Korean companies' energy cooperation with Malaysia's Petronas

Deputy Minister for Energy Policy Lee Ho-hyeon met Petronas COO Adnan Zainal Abidin on October 27 in Seoul to discuss measures for cooperation in LNG, hydrogen, CCS (carbon capture and storage) and other energy areas. Petronas is Malaysia’s state-owned energy company currently engaging in a number of joint projects with Korean firms. The above talks came to be held on the occasion of COO Abidin’s visit to Korea seeking potential business partners. On LNG, Deputy Minister Lee highli date2023-10-31

Korea and Norway strengthen eco-friendly & marine plant networking

Trade, Industry and Energy Vice Minister Youngjin Jang attended the Norway Day 2023 on October 27 at Signiel Busan and encouraged the leaders of both countries’ shipbuilding and marine plant businesses and extended support for business networking. Cooperation in the shipbuilding and marine plant sector between the two countries is going strong, with Korea winning 61 percent of all shipbuilding orders placed by Norway in 2022. Held on the last day of the KORMARINE 2023 (Internationa date2023-10-31

Vice Minister attends completion ceremony of Korea's first neodymium REPM plant

Trade, Industry and Energy Vice Minister Youngjin Jang attended on October 27 the completion ceremony of Sunglim Advanced Industrial’s Hyunpoong Plant in Daegu, Korea’s very first producer of neodymium-based rare earth permanent magnets (REPMs), which are core components of EV motors.   The ceremony was attended by representatives of relevant companies and organizations, including Daegu City Executive Mayor Kim Jong-han, Korea Automotive Technology Institute (KATECH) President date2023-10-31

CF Alliance takes off to lead global discussions on carbon neutrality standards

Trade, Industry and Energy Minister Bang Moon Kyu attended the launching ceremony for the Carbon Free (CF) Alliance on October 27 at the Korea Chamber of Commerce and Industry (KCCI).   The event was also attended by Prime Minister Han Duck-soo, heads of national policy research institutes and representatives of member companies, including SK Hynix, Hyundai Motor, LG Chem and POSCO.   date2023-10-31

CF Alliance takes off to lead global discussions on carbon neutrality standards

The Ministry of Trade, Industry, and Energy (MOTIE) announced that the launching ceremony for the Carbon Free (CF) Alliance took place on October 27 at the Korea Chamber of Commerce and Industry (KCCI), attended by Korea’s Prime Minister Han Duck-soo, representatives of member companies, and heads of national policy research institutes. The Alliance is viewed to play a crucial role in promoting the Carbon Free Energy (CFE) Initiative, as proposed by President Yoon Suk Yeol during his keyno date2023-10-30

Korea paves the way for global recognition of domestic carbon footprint verification system

The Ministry of Trade, Industry, and Energy (MOTIE) announced on October 26 that the Korea Institute of Industrial Technology (KITECH) signed a memorandum of understanding (MOU) with the Carbon Footprint International Alliance (CFIA), a coalition consisting of carbon footprint verification system operators from various countries for mutual acknowledgement and validation of each country’s carbon footprint verification process. The MOU aims to attain global accreditation for the global carbo date2023-10-30

Minister Bang discusses cooperation with Qatari Minister of State for Energy Affairs

Trade, Industry and Energy Minister Bang Moon Kyu met Qatar's Minister of State for Energy Affairs and QatarEnergy CEO Saad Sherida Al-Kaabi on October 25 in Qatar to discuss measures for bilateral energy cooperation. date2023-10-30

Minister to visit Chile & Trinidad and Tobago for stronger cooperation with Latin America

Trade, Industry and Energy Minister Bang Moon Kyu will be visiting the Republic of Chile and the Republic of Trinidad and Tobago starting October 28 to strengthen industrial and energy cooperation with Latin American nations. For Chile, this visit by the MOTIE Minister is one in eight years since April 2015, while for Trinidad and Tobago, this will be the very first. The minister is to be accompanied by an economic delegation composed of 40 representatives from both public and private organizati date2023-10-30

Korea and Qatar expand scope of collaboration to self-driving, smart farm and healthcare

Trade, Industry and Energy Minister Bang Moon Kyu and Qatar’s Commerce and Industry Minister Mohammed bin Hamad bin Qassim Al Abdullah Al Thani attended the Korea-Qatar Business Forum on October 25 in Qatar, held by the Korea Chamber of Commerce and Industry and the Qatar Chamber of Commerce and Industry, where a total of 10 memorandums of understanding (MOUs) were signed between the two countries. In energy, Samsung C&T and the Qatar Free Economic Zone Authority entered a total of tw date2023-10-30

Korea and Qatar upgrade LNG partnership to cooperation in trade and new industries

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 25 that one agreement and two memorandums of understanding (MOUs) were signed between Korea and Qatar on the occasion of the Korea-Qatar summit meeting held on October 25 in Doha, Qatar. First, MOTIE Minister Bang Moon Kyu and Qatar’s Commerce and Industry Minister Mohammed bin Hamad bin Qassim Al Abdullah Al Thani signed the Trade and Investment Promotion Framework (TIPF) MOU for the diversifying of bilateral coopera date2023-10-30