Ministry of Trade, Industry and Energy

Korea's auto exports hit record-breaking $35.7 billion in H1 2023

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced on July 17 that Korea’s automobile exports for the first half (H1) of 2023 reached a total of USD 35.7 billion (up 46.6 percent year-on-year), surpassing the previous all-time high record ($25.2 billion in H1 2014) by over $10 billion. Eco-friendly vehicles, namely battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), fuel cell electric vehicles (FCEVs) and hybrid electric vehicles date2023-07-17

Korea and Poland sign 33 MOUs in advanced and manufacturing industries

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced on July 14 that it held the Korea-Poland Business Forum that day on the occasion of President Yoon Suk-yeol’s visit to Poland. Attended by 350 representatives of Korean and Polish economic organizations, large corporations, middle-market companies and small and medium-sized enterprises (SMEs), the forum was held to advance bilateral cooperation and obtain tangible outcomes in battery, high-tech industri date2023-07-17

Korea kicks off Project Team for innovative SMRs

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) jointly held a launching ceremony for the 'Innovative Small Modular Reactor (SMR) Technology Development Project Team (“Project Team”) at the Lotte City Hotel in Daejeon on July 10.   The event was attended by over 100 industrial and academic experts including MOTIE Vice Minister Kang Kyung-sung, MSIT Minister Lee Jong-ho, Kim Young-sik and Choi Hyung-du of t date2023-07-14

Korea & Japan forge path with export control cooperation framework

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) and Japan’s Ministry of Economy, Trade and Industry (METI) held a director-level policy dialogue on export control via video call on July 7, following Japan’s decision to put Korea back on its whitelist of preferential trading partners. The two countries agreed that mutual trust in the field of export control has been fully restored, and signed a Memorandum of Cooperation (MOC) on export control as a framew date2023-07-14

Korea kicks off Project Team for innovative SMRs

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) jointly held a launching ceremony for the 'Innovative Small Modular Reactor (SMR) Technology Development Project Team (“Project Team”) at the Lotte City Hotel in Daejeon on July 10. The event was attended by over 100 industrial and academic experts including MOTIE Vice Minister Kang Kyung-sung, MSIT Minister Lee Jong-ho, Kim Young-sik and Choi Hyung-du of the Peopl date2023-07-14

Korea and Poland seal TIPF MOU for stronger bilateral cooperation

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced on July 14 that MOTIE and Poland’s Ministry of Economic Development and Technology entered the Trade and Investment Promotion Framework (TIPF) memorandum of understanding (MOU) on July 13 in Warsaw. Based on this MOU, the two countries plan to expand their industrial cooperation base over a comprehensive scope that will spur joint business projects across trade, investment and supply chains, and also im date2023-07-14

Trade Minister chairs Busan Exporters' Conference

Minister for Trade Dukgeun Ahn chaired the Busan Exporters’ Conference on July 12 at the Busan Exhibition & Convention Center (BEXCO), held to promote exports of local SMEs and middle-market companies through establishment of an organic cooperation system between firms and export assistance institutes.   After his opening message, the trade chief led discussions on EU’s seafood regulations, difficulties arising in the process of customs duty refund on imported goods used f date2023-07-14

Korea's ICT exports reach $16.1 billion in June

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced on July 13 that Korea's exports and imports of information and communications technology (ICT) goods for June amounted to USD 16.1 billion (down 22.1 percent year-on-year) and $11.5 billion (down 12.3 percent), respectively. The trade balance stood at a surplus of $4.6 billion. ICT exports fell as a result of prolonged slowdown of global demand for ICT, the sluggish semiconductor industry, and the high base ef date2023-07-13

Korea hosts 4th IPEF negotiating round in Busan

The Republic of Korea’s Trade, Industry and Energy Ministry’s Deputy Minister for FTA Negotiations Roh Keon-ki is heading the Korean delegation in the fourth negotiating round of the Indo-Pacific Economic Framework for Prosperity (IPEF) in Busan from July 9-15. Approximately 650 government officials came from 13 other countries, namely the U.S., Japan, Australia, New Zealand, Singapore, Thailand, Vietnam, Brunei, Malaysia, the Philippines, Indonesia, India and Fiji. The fourth nego date2023-07-13

Korea and UAE discuss summit outcome follow-up measures

Trade, Industry and Energy Minister Lee Chang-yang met with United Arab Emirates (UAE)’ Economy Minister Abdulla Bin Touq Al Marri on July 7 at the Lotte Hotel Seoul to discuss the January bilateral summit outcomes and future economic cooperation in trade, investment, advanced industries, technology and energy. date2023-07-13