Ministry of Trade, Industry and Energy

Vice Minister attends Carbon Korea 2023 opening ceremony

Trade, Industry and Energy Vice Minister Youngjin Jang attended the opening ceremony of Carbon Korea 2023 on October 24 at the aT Center in Seoul.   Vice Minister Jang awarded medals of honor for Government commendation to persons that contributed to the development of the carbon materials industry, attended the MOU signing ceremony between Korean and U.S. carbon composite materials certification for aircrafts and toured major exhibition booths.   The ceremony was attended by vario date2023-10-26

MOTIE hosts Carbon Korea 2023

Carbon Korea 2023, hosted by the Ministry of Trade, Industry and Energy (MOTIE) and co-organized by the Korea Carbon and Nano Industry Association and Korea Carbon Industry Promotion Agency, is being held through October 24-26 at the aT Center in Seoul. Now in its third year, Carbon Korea 2023 hosts various events under the theme of “Carbon Materials, Toward a Sustainable Future”, including exhibitions, conferences and an MOU signing ceremony between Korean and U.S. institutions. T date2023-10-26

Deputy Trade Minister attends carbon fiber plant groundbreaking ceremony

Trade, Industry and Energy Deputy Trade Minister Yang Byeong-nae attended on October 23 the groundbreaking ceremony for the construction of advanced materials company Toray Industries’ carbon fiber production plant in Gumi in North Gyeongsang Province, Korea.   In his congratulatory message, Deputy Trade Minister Yang stated that the investment is a good example of the improving bilateral relations between Korea and Japan amid the revitalized exchanges and cooperation, and the resum date2023-10-26

Korea and Saudi hold Investment Forum & MOU signing ceremony

Trade, Industry and Energy Minister Bang Moon Kyu and Saudi Investment Minister Khalid A. Al-Falih attended the Korea-Saudi Investment Forum on October 22 at the Fairmont Hotel Riyadh and attended the ceremony for the signing of 40 MOUs and six agreements worth a total of $8.3 billion, including the agreement for building Korea’s first automotive plant in the Middle East. date2023-10-25

Korea and Ethiopia discuss measures for trade & industrial cooperation

Trade, Industry and Energy Minister Bang Moon Kyu, as the Special Presidential Envoy, met Ethiopia’s Deputy Prime Minister Demeke Mekonnen Hassen on October 20 in Ethiopia and discussed measures for enhancing bilateral relations and trade and investment cooperation, and delivered President Yoon Suk Yeol’s handwritten letter requesting support for World Expo 2030 Busan. date2023-10-25

Korea and Ethiopia enter MOU for expanding economic cooperation

Trade, Industry and energy Minister Bang Moon Kyu met with Gebremeskel Chala, Ethiopia's Minister of Trade and Regional Integration, on October 20 in Ethiopia and discussed cooperation in trade, investment, development and asked support for World Expo 2030 Busan.   The two ministers also signed an MOU for expanding bilateral economic cooperation in areas like trade, technology, industrial and digital.   date2023-10-25

Leading advanced materials company ups investment in Korea

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 23 that Toray Industries, the world’s leading company in carbon fiber composite materials headquartered in Japan, held the groundbreaking ceremony for the construction of a carbon fiber production plant in Gumi in North Gyeongsang Province, Korea. Since 1972, Toray Industries has invested a total of USD 1 billion in various areas in Korea, including engineering plastics and carbon fiber. Following the beginning of car date2023-10-25

Korea and Saudi build up industry-wide economic cooperation momentum

Trade, Industry and Energy Minister Bang Moon Kyu and Saudi Investment Minister Khalid A. Al-Falih attended the Korea-Saudi Investment Forum on October 22 in Saudi Arabia, co-hosted by the Federation of Korean Industries (FKI) and the Saudi Investment Ministry, where a total of 40 memorandums of understanding (MOUs) and six agreements were sealed. In energy, a total of seven agreements and MOUs were entered for joint projects on crude oil stockpiling and bid participation, along with three hydr date2023-10-25

Clean hydrogen-fueled buses to run on Jeju Island

The Ministry of Trade, Industry, and Energy (MOTIE) held the hydrogen bus launching ceremony on October 23 on Jeju Island announcing the establishment of Korea’s first comprehensive ecosystem of the clean hydrogen lifecycle spanning production, transportation, and utilization. MOTIE has been working to develop a system through the seawater electrolysis demonstration project connected with renewable energy since 2020 for stable and economic production of hydrogen. Currently, at the seawate date2023-10-25

Korea and Ethiopia strengthen cooperative foundation to mark 60 years of diplomatic relations

Trade, Industry and Energy Minister Bang Moon Kyu visited Addis Ababa, Ethiopia, as a Special Presidential Envoy on October 20, leading an economic delegation of 35 persons from 14 public and private organizations and companies. The economic delegation was composed of representatives from the Export-Import Bank of Korea, Korea Electric Power Corporation (KEPCO), Korea Trade-Investment Promotion Agency (KOTRA), Korea Institute for Advancement of Technology (KIAT), LG Electronics, SK Gas, POSCO In date2023-10-25