Ministry of Trade, Industry and Energy

Trade Minister chairs 1st Global Business Council meeting

Minister for Trade Dukgeun Ahn chaired the first Global Business Council meeting on May 3 at the Korea Chamber of Commerce and Industry (KCCI) to discuss the future policy direction for Korea’s semiconductor industry amid the rapidly changing trade environment.   The meeting was attended by approximately 10 persons, including representatives of foreign-invested semiconductor companies, such as Applied Materials Korea, ASML Korea, Tokyo Electron Korea and DuPont Korea.   date2023-05-09

Trade Minister chairs 1st Global Business Council meeting

Minister for Trade Dukgeun Ahn chaired the first Global Business Council meeting on May 3 at the Korea Chamber of Commerce and Industry (KCCI) to discuss the future policy direction for Korea’s semiconductor industry amid the rapidly changing trade environment. The meeting was attended by approximately 10 persons, including representatives of foreign-invested semiconductor companies. Geopolitical tensions, as well as supply chain crises caused by the COVID-19 pandemic, are spurring major date2023-05-09

MOTIE & Daejeon enter investment MOU with Merck Life Science

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 3 that MOTIE, Daejeon Metropolitan City and Merck Life Science (“Merck”) signed an investment cooperation memorandum of understanding (MOU) at the Grand Hyatt Seoul on plans to establish a new bioprocessing unit in Korea for producing biomedical raw and subsidiary materials in the Asia-Pacific region. date2023-05-08

MOTIE & Daejeon enter investment MOU with Merck Life Science

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 3 that MOTIE, Daejeon Metropolitan City and Merck Life Science (“Merck”) signed an investment cooperation memorandum of understanding (MOU) for plans to establish a new bioprocessing unit in Korea for the Asia-Pacific region. According to the MOU, Merck will consider establishing a plant in Daejeon for producing biomedical raw and subsidiary materials for the Asia-Pacific region’s pharmaceutical and bio compan date2023-05-08

1st Vice Minister chairs Fabless Semiconductor Companies’ Export & Investment Review Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin chaired the Fabless Semiconductor Companies’ Export & Investment Review Meeting on May 2 at the Korea Chamber of Commerce and Industry (KCCI) and led discussions on export and investment prospects for Korea’s semiconductor industry and gathered industry opinions from attending representatives of relevant associations, R&D institutions and firms. The semiconductor industry representatives forecast that demand for ser date2023-05-08

1st Vice Minister chairs fabless semiconductor companies’ export & investment review meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin chaired the fabless semiconductor companies’ export and investment review meeting on May 2 at the Korea Chamber of Commerce and Industry (KCCI) and led discussions on this year’s chip industry export and investment forecast and Government assistance for business challenges.   The Vice Minister gave an opening message and facilitated discussions on the management environment of fabless semiconductor companies, AI semic date2023-05-04

Trade Minister chairs 33rd Trade Promotion Committee meeting

Minister for Trade Dukgeun Ahn chaired the 33rd Trade Promotion Committee (the “Committee”) meeting on May 1 at the Government Complex Sejong and led discussions on plans for the third round of official negotiations for the Indo-Pacific Economic Framework for Prosperity (IPEF), ninth official Korea-Ecuador Strategic Economic Cooperation Agreement (SECA) negotiation round outcomes, Asia-Pacific Economic Cooperation (APEC) trade ministers’ meeting preparations and progress on int date2023-05-04

Trade Minister chairs 33rd Trade Promotion Committee meeting

Minister for Trade Dukgeun Ahn chaired the 33rd Trade Promotion Committee meeting on May 1 at the Government Complex Sejong and led discussions on plans for the third round of official negotiations for the Indo-Pacific Economic Framework for Prosperity (IPEF), ninth official Korea-Ecuador Strategic Economic Cooperation Agreement (SECA) negotiation round outcomes, APEC trade ministerial meeting preparations and internationally transferred mitigation outcomes (ITMOs) of industrial energy sectors. date2023-05-03

Korea to strengthen cash grants for FDI in strategic high-tech areas

The Ministry of Trade, Industry and Energy (MOTIE) held the 110th Foreign Investment Committee meeting to deliberate and vote on amendments concerning cash grant management and reported the Foreign Investment Ombudsman grievance settlement achievements. Cash grants for foreign investment in semiconductors, secondary batteries and displays and such areas included under the “National High-Tech Strategic Industries Special Act” will be increased up to 50 percent of investment, and the date2023-05-03

1st Vice Minister attends Civil-Military High-Tech Conference

Trade, Industry and Energy 1st Vice Minister Jang Young-jin visited the Agency for Defense Development (ADD) in Daejeon on April 28 to attend the Civil-Military High-Tech Conference to discuss R&D progress in robotics and space, as well as measures for bolstering civil-military cooperation in cutting-edge technology areas.   Vice Minister Jang gave an opening message and led discussions on securing space materials and parts technology, transfer of national defense space technology to date2023-05-02