Ministry of Trade, Industry and Energy

Korea takes on full-scale response to nurture advanced, strategic industries

South Korean Prime Minister Han Duck-soo chaired the second meeting of the National High-Tech Strategic Industry Committee on May 26 at the Government Complex Seoul for the establishment of the “Basic Plan for Nurturing and Protecting National High-Tech Strategic Industries” and designation of advanced, strategic technologies and industries to secure Korea’s advanced industries’ competitiveness amid the intensifying global technology competition. The finalized 'First Bas date2023-06-05

Trade Minister holds bilateral talks on sidelines of APEC MRT meeting

Minister for Trade Dukgeun Ahn held bilateral talks with the trade ministers of the U.S., China, Canada, Chile and other major member countries of the Asia-Pacific Economic Cooperation (APEC), on the occasion of the APEC's 29th Ministers Responsible for Trade (MRT) meeting held from May 25-26 in Detroit, U.S. With U.S. Trade Representative Katherine Tai, Trade Minister Ahn discussed the two countries’ partnership in economy, advanced industries, and the Indo-Pacific Economic Framework for date2023-06-05

2nd Vice Minister attends International Business Forum for Nuclear Clean Hydrogen

Trade, Industry and Energy 2nd Vice Minister Kang Kyung-sung attended the International Business Forum for Nuclear Clean Hydrogen on May 25 at BEXCO in Busan, held for exchange in technology and information among Korea’s industry, academia and R&D institutes to accelerate the utilization of nuclear hydrogen.   The event was attended by approximately by more than 150 industry and academic experts from Korea and abroad from the Nuclear Energy Agency under the Organization for Econ date2023-06-02

2nd Vice Minister attends International Business Forum for Nuclear Clean Hydrogen

Trade, Industry, and Energy 2nd Vice Minister Kang Kyung-sung attended the International Business Forum for Nuclear Clean Hydrogen on May 25, which was hosted by Korea Hydro & Nuclear Power (KHNP) and organized by the Hydrogen Convergence Alliance (H2KOREA). This forum, held as a special event of the World Climate Industry EXPO (WCE 2023), was themed as “Role and Challenges for Nuclear Hydrogen in Achieving Carbon Neutrality”, and was attended by more than 150 industry and acad date2023-06-02

Korea and Oman discuss energy supply chain cooperation

Trade, Industry, and Energy 2nd Vice Minister Kang Kyung-sung held talks with Moshin bin Hamad bin Saif Al Hadhrami, Undersecretary of the Ministry of Energy and Minerals in Oman on May 25 in Busan, on the occasion of the Undersecretary’s first visit to Korea to attend the World Climate Industry EXPO (WCE 2023). The two energy chiefs discussed the issue of securing a stable energy supply chain between Korea and Oman, and supporting Korean companies’ participation in Oman’s pl date2023-06-02

Korea and Germany hold 5th Energy Day

The Ministry of Trade, Industry and Energy (MOTIE)’s Energy Industry Deputy Minister Cheon Young-gil attended the 5th Korean-German Energy Day on May 26 at the Busan Exhibition and Convention Center (BEXCO) for Korea-Germany exchange of energy policies, experience and knowledge.   The event was attended by representatives of relevant organizations, academia and firms of both countries, including the Korean Energy Technology Evaluation and Planning (KETEP) Director Kwon Ki-young and date2023-06-02

Korea and Laos discuss economic cooperation measures

Trade, Industry and Energy 1st Vice Minister Jang Young-jin met with Laotian Industry and Commerce Minister Malaythong Kommasith on May 25 at the Lotte Hotel Seoul to discuss measures to expand Korea-Laos economic cooperation in trade, investment and supply chain. date2023-06-02

Korea and Oman discuss energy & plant cooperation

Trade, Industry and Energy 2nd Vice Minister Kang Kyung-sung met with Mohsin bin Hamad bin Saif Al Hadhrami, Oman’s Undersecretary of the Ministry of Energy and Minerals, on May 25 at the Busan Exhibition and Convention Center (BEXCO) and discussed stable energy supply chain sourcing for Oman and measures for Korean companies to participate in Oman’s plant projects. date2023-06-02

Korea and Japan resume Energy Policy Dialogue

Trade, Industry and Energy Ministry’s Director General for Energy Policy Lee Won-ju met with Minami Ryo, Japan’s Director-General for International Policy on Carbon Neutrality, Agency for Natural Resources and Energy Ministry of Economy, Trade and Industry (METI), on May 25 for the Korea-Japan Energy Policy Dialogue held on the sidelines of the World Climate Industry EXPO in Busan to discuss energy policy cooperation. Korea and Japan have been discussing cooperation in resources dev date2023-06-02

Korea's exports decline 15.2% in May

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 1 that Korea’s exports in May declined 15.2 percent year-on-year to USD 52.2 billion and imports fell 14.0 percent to $54.3 billion, resulting in a trade balance of $2.1 billion deficit, which has been continuously improving since January. May exports were negatively impacted by lower number of operating days (1.5 days less), sluggish IT industry, and the high base effect from last year’s May exports having reached date2023-06-01