Ministry of Trade, Industry and Energy

MOTIE attends 23rd Korea-Japan New Industry Trade Conference

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin attended the 23rd Korea-Japan New Industry Trade Conference on March 30 at COEX in Seoul. The conference was attended by representatives of relevant firms and organizations, including Korea International Trade Association (KITA), Korea-Japan Economic Association and officials of both Korean and Japanese governments.   date2023-04-03

Korea's exports fall 13.6% in March, but trade balance improves

The Ministry of Trade, Industry and Energy announced on April 1 that Korea’s exports in March declined 13.6 percent year-on-year to USD 55.1 billion. Imports fell 6.4 percent to $59.8 billion. Trade balance stood at a deficit of $4.6 billion. March exports were hit by the slowdown in the global economy and semiconductor industry, as well as the high base effect of last year’s March exports having recorded historic highs. Meanwhile, export value managed to reclaim $55 billion thresho date2023-04-03

Trade Minister presides 32nd Trade Promotion Committee meeting

Minister for Trade Dukgeun Ahn presided the 32nd Trade Promotion Committee meeting on March 30 at K-SURE in Seoul and led discussions on response measures to major countries’ trade issues, IPEF negotiations, EPA, follow-up negotiations on WTO fisheries subsidies and assistance for overseas plant bid projects.   Officials of relevant ministries attended the meeting, including the Ministry of Foreign Affairs, Ministry of Economy and Finance, and the Office for Government Policy Coordi date2023-03-31

Trade Minister holds 32nd Trade Promotion Committee meeting

Minister for Trade Dukgeun Ahn chaired the 32nd Trade Promotion Committee meeting on March 30 and led discussions on five major agenda items: 1) Korea’s response trade issues related to major countries, 2) progress in and responses to the Indo-Pacific Economic Framework for Prosperity (IPEF) negotiations, 3) the direction of the Economic Partnership Agreement (EPA), 4) the World Trade Organization (WTO) fisheries subsidies follow-up, and 5) assistance measures for overseas plant bid projec date2023-03-31

Minister attends special financial assistance MOU ceremony for NPP firms

Trade, Industry and Energy Minister Lee Chang-yang attended the MOU signing ceremony for on March 29 at the Four Seasons Hotel Seoul for the launching of KRW 200 billion special financial package for nuclear power plant (NPP) SMEs and middle-market companies to accelerate the restoration of NPP ecosystem.   The ceremony was attended by Korea Hydro & Nuclear Power (KHNP) President Hwang Ju-ho, Korea Development Bank (KDB) Chairman Kang Seog-hoon, Doosan Enerbility President Jung Y date2023-03-31

Minister Lee presides 4th Nuclear Power Plant Export Strategy Committee Meeting

Trade, Industry and Energy Minister Lee Chang-yang presided the 4th Nuclear Power Plant Export Strategy Committee Meeting on March 29 at the Four Seasons Hotel Seoul to discuss whole-of-Government measures for strengthening exports of nuclear power plant equipment and materials and restoring the industry’s ecosystem.   The Minister gave an opening message and led discussions on plans for assisting the mutual growth of nuclear power plant SMEs and middle-market companies through spec date2023-03-30

MOTIE announces 2-track strategy measure to strengthen NPP EM exports

The Ministry of Trade, Industry and Energy (MOTIE) announced strategy measures to strengthen exports of nuclear power plant equipment and materials (NPP EM) at the 4th Nuclear Power Plant Export Strategy Committee Meeting on March 29 at Four Seasons Hotel Seoul. Global demand for NPP EM has recently been on the rise due to the construction of new NPPs and expanding continued operations, while major NPP supplier countries are experiencing weakening EM manufacturing due to abandoned NPP projects, date2023-03-30

MOTIE announces appointment of "Baby Shark" as 5th ambassador for World Expo 2030 Busan

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 28 that “Baby Shark”, created by the Korean company Pinkfong, has been appointed as the fifth official honorary ambassador for World Expo 2030 Busan by the World Expo 2030 Busan Bid Committee and Busan Metropolitan City. Loved by kids and parents from all around the world, Baby Shark is an animated character created in 2016 and will promote Busan City as host for World Expo 2030 as the fifth honorary ambassador al date2023-03-29

1st Vice Minister attends 4th International Conference on Robot Future Strategy

Trade, Industry and Energy 1st Vice Minister attended the 4th International Conference on Robot Future Strategy on March 28 at COEX to discuss changing lifestyles from high-tech convergence of robotics, AI and mobility and to seek future direction for the robotics industry.   The conference was attended by in industry, academia and R&D robotics experts, including Korea Institute for Robot Industry Advancement (KIRIA) President Shon Woong Hee, Korea Association of Robot Industry Chairm date2023-03-29

Korea's retail industry grows 7.9% in February

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 28 that Korea’s retail sales in February achieved an overall growth of 7.9 percent, year-on-year. Offline and online sales both expanded, by 8.0 percent and 7.8 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 date2023-03-29