Ministry of Trade, Industry and Energy

Korea to nurture tech-competitive MPE companies

The Ministry of Trade, Industry and Energy (MOTIE) held the eleventh MPE (materials, parts and equipment) Industry Competitiveness Committee meeting on April 18 and announced the Ministry’s plan to nurture MPE firms into global companies with top-notch technological competitiveness and to expand core MPE areas and related strategic technologies. The globalization strategy has been established to enable Korea’s MPE industries to respond to the rapidly changing global high-tech indust date2023-04-21

Korea sends economic delegation to Central Europe to bolster cooperation

Trade, Industry and Energy 1st Vice Minister Jang Young-jin is visiting Hungary, Poland and Slovakia through April 17-20 as the head of an economic delegation to discuss measures for expanding trade and economic cooperation between Korea and the three Central European nations. The economic delegation will hold business roundtables in Hungary and Poland to discuss bilateral investment and trade expansion measures with companies and interested parties, as well as EU trade policies. In Slovakia, t date2023-04-18

Korea and Kazakhstan discuss critical minerals & economic cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Roman Sklyar, First Deputy Prime Minister of the Republic of Kazakhstan, on April 14 at the Lotte Hotel Seoul and discussed critical minerals, economic cooperation and plant bid project, and requested support for World Expo 2030 Busan. Both sides agreed that it was significant for bilateral trade to have reached USD 6.5 billion despite internal and external difficulties in 2022, which was also the 30th anniversary of the establishment date2023-04-18

Korea's auto exports reach record-breaking $6.5 billion in March

The Ministry of Trade, Industry and Energy announced on April 17 that Korea’s automobile production, domestic sales and exports by unit in March gained year-on-year by 35.6 percent, 19.6 percent and 48.0 percent, respectively. By value, exports of finished cars rose 64.1 percent to a record-breaking USD 6.5 billion, while those of car parts inched down 5.3 percent. Production volume surpassed 0.4 million units for the first time in six years, thanks to normalization of car parts supply c date2023-04-18

MOTIE and Boeing discuss measures to expand cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with chief executive officer of Boeing Defense, Space & Security (BDS) Theodore Colbert III on April 13 at the Four Seasons Hotel Seoul to discuss measures to expand cooperation between Korea and Boeing. The talks were held for the purpose of expanding Korea-Being cooperation in the future amid the post-COVID realignment of global supply chains and rising national defense budgets worldwide. Delegations from the Ministry of Trade, Indus date2023-04-17

1st Vice Minister visits KDHC to inspect heat supply facility managment

Trade, Industry and Energy 1st Vice Minister Jang Young-jin visited the Central Branch of Korea District Heating Corp. in Mapo-gu, Seoul, on April 16 to inspect the leakage situation of district heating pipe and received a briefing on heat supply facility management, then encouraged employees working around the clock in the control room.   The Vice Minister was accompanied by a number of relevant persons, including KDHC Vice President Song Hyun-gyu and Korea Energy Agency Chairman Lee San date2023-04-17

Korea and Kazakhstan discuss critical minerals & economic cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Sklyar Roman, First Deputy Prime Minister of the Republic of Kazakhstan, on April 14 at the Lotte Hotel Seoul and discussed critical minerals, economic cooperation and plant bid project, and requested support for World Expo 2030 Busan.   date2023-04-14

Minister Lee discusses cooperation with Boeing Defense, Space & Security CEO

Trade, Industry and Energy Minister Lee Chang-yang met with Boeing Defense, Space & Security CEO Theodore Colbert III on April 13 at the Four Seasons Hotel Seoul to discuss measures to expand Korea-Boeing aerospace defense industrial cooperation amid global value chain realignment and escalating national defense budgets worldwide.   The two leaders discussed future civilian and military aerospace joint development, technology cooperation and investment in Korea, Korean firms’ pa date2023-04-14

Korea's ICT exports recover $15 billion thresholds in March

The Ministry of Trade, Industry and Energy announced on April 13 that Korea's exports and imports of information and communications technology (ICT) goods in March recorded USD 15.8 billion (down 32.2 percent year-on-year) and $11.9 billion (down 7.9 percent), respectively. Trade balance stood at a surplus of $4.0 billion. ICT exports contracted for the ninth consecutive month as the global economic downturn and semiconductor industry slowdown continued, but export value recovered $15.0 billion date2023-04-14

2nd Vice Minister chairs meeting for assessing public energy companies' management innovation

Trade, Industry and Energy 2nd Vice Minister Park Il-jun chaired a meeting to assess the management innovation efforts of public energy companies on April 11 at the KEPCO Art Center in Seoul.    Vice Minister Park gave an opening message and examined the effectiveness of energy companies’ self-rescue efforts and organization innovation measures.   date2023-04-13