Ministry of Trade, Industry and Energy

Trade Minister visits reshoring chip equipment manufacturer

Minister for Trade Dukgeun Ahn visited on August 17 the semiconductor equipment manufacturer (CVD SiC Focus Ring) KNJ, located in Asan-si, to discuss the company’s reshoring and recent management situation as well as Government support measures.   Trade Minister Ahn stated that “reshoring of firms playing major roles in the high-tech supply chain contributes greatly to not only investment, employment and exports but also to supply chain stability,” and added that “ date2023-08-21

MOTIE holds Industrial Technology R&D Strategy Meeting

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) Vice Minister Youngjin Jang chaired the Industrial Technology R&D Strategy Meeting on August 17 at the Korea Chamber of Commerce and Industry (KCCI) and led discussions on the direction of investment and improvement of industrial technology R&D for 2024, as well as measures to expand the scope of international joint R&D projects.   The meeting was attended by representatives from relevant institutes, date2023-08-21

Korea to push R&D projects to secure cutting-edge technologies

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) Vice Minister Youngjin Jang chaired the Industrial Technology R&D Strategy Meeting on August 17 at the Korea Chamber of Commerce and Industry (KCCI) and led discussions on the direction of investment and improvement of industrial technology R&D for 2024, as well as measures to expand the scope of international joint R&D projects. The meeting was attended by representatives from relevant institutes, includin date2023-08-21

Korea attends 13th APEC Energy Ministerial Meeting in Seattle

  The Republic of Korea’s Energy Industry Deputy Minister Cheon Young-gil headed the Korean delegation participating in the 13th Asia-Pacific Economic Cooperation (APEC) Energy Ministerial Meeting from August 15-16 held in Seattle, U.S., breaking the eight-year hiatus following the previous APEC energy ministerial meeting. Korea, the U.S., Canada, Japan, China, Russia, Taiwan, Australia, Indonesia and Malaysia were among the 21 economies that gathered to discuss measures for 1) expa date2023-08-18

Minister Lee chairs meeting to review World Expo 2030 Busan preparations

The Republic of Korea’s Trade, Industry and Energy Minister Chang-Yang Lee held a meeting on August 17 in Seoul to assess the situation for the World Expo 2030 Busan and reviewed the preparation progress and upcoming schedule with relevant ministries and organizations.   With approximately 100 days left until the date of final announcement of the Expo host city, meeting attendees discussed various issues, including overseas marketing, Bureau International des Expositions (BIE) sched date2023-08-18

Korea's automobile exports record $5.9 bln in July

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced on August 17 that Korea’s automobile exports for July reached a total of USD 5.9 billion, recording a historic high for July monthly exports. The accumulated value of automobile exports from January to July reached $41.6 billion, entering the $40 billion thresholds within the shortest amount of time in Korea’s vehicle exporting history. The number of exported Korean cars grew 2.8 percent to 228,9 date2023-08-17

Korea reviews preparations for World Expo 2030 Busan

The Republic of Korea’s Trade, Industry and Energy Minister Chang-Yang Lee held a meeting on August 17 in Seoul to assess the situation for the World Expo 2030 Busan and reviewed the preparation progress and upcoming schedule with relevant ministries and organizations. With approximately 100 days left until the date of final announcement of the Expo host city, meeting attendees discussed various issues, including overseas marketing, Bureau International des Expositions (BIE) schedule, com date2023-08-17

Korea's ICT exports record $14.6 billion in July

The Republic of Korea’s Ministry of Trade, Industry and Energy announced on August 16 that Korea's exports and imports of information and communications technology (ICT) goods for July recorded USD 14.6 billion (down 24.3 percent year-on-year) and $11.4 billion (down 13.7 percent), respectively. The trade balance stood at a surplus of $3.2 billion. ICT exports fell amid low semiconductor unit prices and slow demand for ICT devices. However, the export decline rate is gradually recovering date2023-08-16

Korea seeks future growth engines in power semiconductors & battery complexes

The Republic of Korea’s Trade, Industry and Energy Minister Chang-Yang Lee visited the power semiconductor materials, parts and equipment (MPE) specialized complex in Busan and the national high-tech strategic industrial complex for secondary batteries in Ulsan on August 16 to seek measures for their further development. The Busan complex is seeing KRW 800 billion worth of corporate investment deals pushing forward efforts to claim the bridgehead role in the compound power semiconductor m date2023-08-16

Korea and U.S. hold Standards Forum as part of forward-looking partnership

The Republic of Korea’s Korean Agency for Technology and Standards (KATS), under the Ministry of Trade, Industry and Energy (MOTIE), co-hosted the Korea-U.S. Standards Forum with the American National Standards Institute (ANSI) on August 10 at Grand InterContinental Seoul, as follow-up to the two countries’ summit meeting with aim to establish a forward-looking standards partnership in the U.S.’ National Standards Strategy for Critical and Emerging Technology (NSSCET) date2023-08-14