Ministry of Trade, Industry and Energy

Korea's retail industry grows 3.3% in August

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 26 that Korea’s retail sales for August gained an overall growth of 3.3 percent year-on-year. Offline sales declined by 1.2 percent as Chuseok holidays are due to arrive 19 days later than they did last year (September 10, 2022), with hypermarket chain and department store sales sliding 8.4 percent and 4.9 percent, respectively. Online sales enjoyed growth, notably in services/other (up 13.3 percent), food products date2023-09-27

Amendments to Industrial Technology Protection Act approved at cabinet meeting

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 25 that amendments to the “Act on Prevention of Divulgence and Protection of Industrial Technology” were approved at the cabinet meeting that day. The primary purpose of the amendments is to strengthen the protection of national core technologies. The revisions now categorize individuals with dual citizenship as foreigners, expanding the scope of subjects for national core technology exports and overseas merge date2023-09-27

Korea partners with Vietnam and Uzbekistan on four carbon emission reduction projects

The Ministry of Trade, Industry and Energy (MOTIE) held the ceremony on September 25 for the signing of a memorandum of understanding (MOU) on international projects aiming to reduce greenhouse gases (GHG) at the Korea Trade-Investment Promotion Agency (KOTRA) in the presence of Minister for Trade Dukgeun Ahn and Vietnamese Ambassador to Korea Nguyen Vu Tung, and representatives of relevant affiliations. The abovementioned international projects will support facility investments for Korean com date2023-09-26

Minister Bang makes first Exporter Visiting Group stop at Hyundai Asan Plant

Trade, Industry and Energy Minister Bang Moon Kyu visited the Hyundai Asan Plant on September 26 for the launching of the Exporter Visiting Group as part of Minister Bang’s first stride towards export growth for the second half of 2023.   The Exporter Visiting Group is a program launched by the Ministry of Trade, Industry and Energy (MOTIE) that aims to uncover export challenges by taking the initiative in communicating with each business sector’s associations, large corporati date2023-09-26

Minister Bang makes first Exporter Visiting Group stop at Hyundai Asan Plant

Trade, Industry and Energy Minister Bang Moon Kyu visited the Hyundai Asan Plant on September 26 for the launching of the Exporter Visiting Group (“Group”) as part of Minister Bang’s first stride towards export growth for the second half of 2023. The Exporter Visiting Group is a program launched by the Ministry of Trade, Industry and Energy (MOTIE) that aims to uncover export challenges by taking the initiative in communicating with each business sector’s associations, l date2023-09-26

440th Korea Trade Commission gives preliminary determination on anti-dumping duties

The Ministry of Trade, Industry, and Energy (MOTIE) held the 440th Korea Trade Commission meeting on September 21 and based on the preliminary determination regarding domestic industrial injury from Egyptian white Portland cement, decided to recommend that the Ministry of Economy and Finance (MOEF) impose provisional anti-dumping duties of 72.23 percent to prevent further damage during the investigation period. The Commission plans to notify the preliminary determination results to the finance date2023-09-26

Korea and Finland enter TIPF MOU

Trade, Industry and Energy Ministry’s Deputy Minister for FTA Negotiations Roh Keon-ki and Finland’s Under-Secretary of State for International Trade Jarno Syrjälä signed the Trade Investment Promotion Framework (TIPF) memorandum of understanding (MOU) at the commemoration event for the 50th anniversary of the establishment of diplomatic relations between Korea and Finland held on September 21 at KOTE in Seoul. Finland is an information technology (IT) and digital powerhou date2023-09-22

Korea and U.S. hold 2nd Advanced Industry & Technology Cooperation Forum

Trade, Industry and Energy Vice Minister Youngjin Jang attended the 2nd Korea-U.S. Advanced Industry & Technology Cooperation Forum, held together by MOTIE and the U.S. Department of Commerce on September 21 at the Grand Hyatt Seoul to seriously push forward bilateral cooperation in high-tech industries and personnel exchange.   In addition to U.S. Deputy Secretary of Commerce Don Graves, approximately 300 experts of both countries’ industries, academia and R&D attended the date2023-09-21

Korea and U.S. hold 2nd Advanced Industry & Technology Cooperation Forum

The Ministry of Trade, Industry and Energy (MOTIE) and the U.S. Department of Commerce held the 2nd Korea-U.S. Advanced Industry & Technology Cooperation Forum on September 21 at the Grand Hyatt Seoul with aim to seriously push forward bilateral cooperation in high-tech industries and personnel exchange. At the forum, large numbers of both countries’ experts in industry, academia and R&D participated in discussions on semiconductor cooperation measures, industrial technology secur date2023-09-21

Korea and Japan hold 1st Green Steel Joint Seminar

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 21 that Korea Iron & Steel Organization (KOSA) and the Japan Iron and Steel Federation (JISF) co-hosted the 1st Korea-Japan Green Steel Joint Seminar that day at InterContinental Seoul COEX. With approximately 130 participants from both countries’ governments, industries and expert fields, the seminar focused on deeper discussions on green steel to address the need for bilateral cooperation confirmed during the date2023-09-21