Ministry of Trade, Industry and Energy

Minister Lee reviews future tasks of battery industry

Trade, Industry and Energy Minister Lee Chang-yang visited the LG Energy Solution plant in Ochang on May 25 to review future tasks of the secondary battery industry. According to the Korea Institute for Industrial Economics & Trade (KIET), battery and materials are forecast to enter Korea’s top-five tier of export items within five years. Cathode materials’ export value grew 2.6-fold last year, and already doubled in 2023 year-on-year. Battery exports reached record-breaking l date2023-05-30

MOTIE holds Automobile Parts Industry Strategy Roundtable

Trade, Industry and Energy Minister Lee Chang-yang chaired the Automobile Parts Industry Strategy Roundtable on May 23 at the Four Seasons Hotel Seoul, which was held to support the auto parts industry’s response to the automobile industry’s paradigm shift towards electrification, intellectualization and autonomous driving. Prior to the Roundtable, Minister Lee attended the memorandum of understanding (MOU) signing ceremony, where the Korea Auto Industries Corp. Association (KAICA) date2023-05-26

MOTIE holds Automobile Parts Industry Strategy Roundtable

Trade, Industry and Energy Minister Lee Chang-yang chaired the Automobile Parts Industry Strategy Roundtable on May 23 at the Four Seasons Hotel Seoul and announced support measures for future car transition and exports, as follow-up to President Yoon Suk-yeol’s recent call for measures to strengthen Korea’s automobile parts industry competitiveness to enable timely response to the future car transition and the paradigm shift to electrification, intellectualization and autonomous dri date2023-05-26

Korea and Chile restart negotiations for upgrading FTA

Trade, Industry and Energy Ministry’s FTA Policy Planning Director Ahn Chang-yong headed the Korean delegation for the seventh round of official negotiations to upgrade a free trade agreement (FTA) with Chile on May 22-24 in Santiago. The seventh round of negotiations were launched subsequent to follow-up consultations between the two countries on the occasion of Korean Prime Minister Han Duck-soo’s visit to Chile last October. Prior to negotiations, delegation head Ahn stated that date2023-05-26

Korea and Germany discuss measures to bolster supply chain cooperation

Minister for Trade Dukgeun Ahn met with Jörg Kukies, Germany’s State Secretary for Economic, Finance and European Affairs at the Federal Chancellery, on May 22 at the Lotte Hotel Seoul to discuss measures to bolster Korea-Germany supply chain cooperation. Germany is Korea’s largest European trading partner, with bilateral trade reaching historic highs in 2022 (USD 33.7 billion). The two countries’ economic and industrial supply chain cooperation is expected to deepen on t date2023-05-25

MOTIE sends economic delegation to Estonia, Lithuania & Finland

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin is heading Korea’s economic delegation to Estonia, Lithuania and Finland and meeting with high-level officials through May 22-26 to discuss measures for expanding trade and investment, industrial cooperation in secondary batteries, bio and nuclear energy, cooperation on EU trade issues and in digital, high-tech areas. The economic delegation includes members from the Korea Trade-Investment Promotion Agency (KO date2023-05-25

Korea and Singapore hold 1st Digital Economy Dialogue

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin attended the 1st Korea-Singapore Digital Economy Dialogue on May 19 at the Korea International Trade Association (KITA), where representatives of the two countries’ digital firms gathered to discuss bilateral cooperation measures. A first digital trade agreement for Korea, the Dialogue was hosted by Korea’s Ministry of Trade, Industry and Energy (MOTIE) and Singapore’s Ministry of Trade and Industr date2023-05-25

Korea and Malaysia agree to bolster supply chain cooperation

Trade, Industry and Energy 1st Vice Minister Jang Young-jin met with Malaysia’s Investment, Trade and Industry Deputy Minister Liew Chin Tong on May 18 to discuss measures for expanding Korea-Malaysia economic cooperation, such as accelerating the signing of a memorandum of understanding (MOU) on raw materials cooperation, Malaysia’s government assistance for Korean companies’ investments in new industries like secondary batteries, entering a joint development agreement on clea date2023-05-24

Korea and Malaysia agree to bolster supply chain cooperation

Trade, Industry and Energy 1st Vice Minister Jang Young-jin met with Malaysia’s Investment, Trade and Industry Deputy Minister Liew Chin Tong on May 18 to discuss measures for expanding Korea-Malaysia economic cooperation. The two countries agreed to advance their bilateral economic cooperation on the occasion of the 40th anniversary of the Look East Policy (LEP). Malaysia is Korea’s third and fourth largest trading and investment partner in the ASEAN region, respectively, with thei date2023-05-24

Korea and Switzerland discuss cooperation in bio and trade

Minister for Trade Dukgeun Ahn met with Guy Parmelin, Federal Councillor Head of Switzerland’s Federal Department of Economic Affairs, Education and Research, on May 18 at the Lotte Hotel Seoul and discussed measures for expanding Korea-Switzerland cooperation in bio and trade. date2023-05-24