Ministry of Trade, Industry and Energy

Korea's exports decline 14.2% in April

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 1 that Korea’s exports in April declined 14.2 percent year-on-year to USD 49.6 billion and imports fell 13.3 percent to $52.2 billion, resulting in a trade balance of $2.6 billion deficit, which has been continuously improving since January. April exports suffered from protracted global economic downturn, semiconductor industry slowdown, less operating days and the high base effect from last year’s April exports hav date2023-05-02

Minister Lee and Secretary Raimondo hold 1st Korea-U.S. SCCD

Minister of Trade, Industry and Energy Lee Chang-yang and United States Secretary of Commerce Gina Raimondo held the first Korea-U.S. Supply Chain and Commercial Dialogue (“SCCD”) on April 27 in Washington DC and issued a joint statement. The joint statement is as below.   United States Secretary of Commerce Gina Raimondo and Republic of Korea Minister of Trade, Industry, and Energy Chang-Yang Lee ('the Participants') signed a Memorandum of Understanding to launch the United date2023-05-02

Korea and Chile discuss hydrogen cooperation

Trade Minister Dukgeun Ahn and Chilean Energy Minister Diego Pardow held the Korea-Chile Hydrogen Energy Strategic Partnership Seminar on April 24 at the Four Seasons Hotel Seoul to discuss hydrogen-related government policies and industry trends. date2023-05-01

Korea and U.S. hold Supply Chain & Commercial Dialogue

Trade, Industry and Energy Minister Lee Chang-yang and the U.S. Secretary of Commerce Gina Raimondo held the Korea-U.S. Supply Chain & Commercial Dialogue (SCCD) on April 27 in Washington DC to discuss semiconductors, export controls, robotics and additive manufacturing and attended the ceremony for MOU signing in high-tech areas. date2023-05-01

Minister Lee and Secretary Granholm Commit to Strengthening Clean Energy Cooperation

The Republic of Korea (ROK) Minister of Trade, Industry and Energy Lee Chang-Yang and the United States (U.S.) Secretary of Energy Jennifer M. Granholm met for the ROK-U.S. Ministerial Energy Policy Dialogue (EPD) to strengthen bilateral cooperation on clean energy, climate, and energy security.  The meeting promoted bilateral collaboration across the three pillars of EPD–policies and planning; technologies and research; and commercialization and deployment– in support of the date2023-04-29

Korea and U.S. discuss measures to strengthen energy cooperation

Trade, Industry and Energy Minister Lee Chang-yang and U.S. Secretary of Energy Jennifer Granholm met for the ROK-U.S. Ministerial Energy Policy Dialogue (EPD) on April 27 to strengthen bilateral cooperation on clean energy, climate, and energy security. date2023-04-28

Korea and U.S. to launch special student exchange programs in high-tech areas

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 27 that South Korean President Yoon Suk-yeol and U.S. President Joe Biden agreed to launch a large-scale youth exchange between the two countries in high-tech and science technology. According to the Korea-U.S. leaders’ joint statement issued on April 26, the two countries agreed to pouring USD 30 million each (total $60 million) into launching a special exchange program for 2,023 Korean students and 2,023 U.S. students date2023-04-28

Korea's retail industry grows 6.4% in March

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 25 that Korea’s retail sales in March achieved an overall growth of 6.4 percent, year-on-year. Offline and online sales both expanded, by 6.6 percent and 6.1 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. Thirteen of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four &ld date2023-04-27

Korea and U.S. sign 23 MOUs for high-tech, hydrogen & SMR cooperation

Trade, Industry and Energy Minister Lee Chang-yang attended the “Korea-U.S. High-Tech Industry & Clean Energy Partnership” MOU signing ceremony on April 25 at Waldorf Astoria Washington DC where a total of 23 MOUs were signed for stronger forward-looking Korea-U.S. high-tech cooperation.   Minister Lee gave an opening message and attended the MOU signing ceremony in which 23 MOUs were signed for cooperation in 10 high-tech industry areas (battery, bio, autonomous vehi date2023-04-27

Korea and U.S. sign 23 MOUs for high-tech, hydrogen & SMR cooperation

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 26 that on the occasion of South Korean President Yoon Suk-yeol’s state visit to the U.S., the two countries held a “Korea-U.S. High-Tech Industry & Clean Energy Partnership” memorandum of understanding (MOU) signing ceremony on April 25 at Waldorf Astoria Washington DC and signed a total of 23 MOUs for stronger forward-looking Korea-U.S. high-tech cooperation. The 23 MOUs were signed for cooperation in date2023-04-27