Ministry of Trade, Industry and Energy

Minister visits social welfare institution to check winter energy efficiency challenges

Trade, Industry and Energy Minister Lee Chang yang visited the social welfare institution “Rodem Namu” in Seoul on February 24, to check on wintertime energy efficiency related challenges. The above institution was provided with installation of thermal insulation and high-efficiency boiler as part of the ”energy efficiency improvement projects for the low-income class.' Minister Lee received a briefing on the institution’s management challenges by institution Director date2023-02-27

Korea's retail industry grows 4.0% in January

The Ministry of Trade, Industry and Energy announced on February 27 that Korea’s overall retail sales in January posted a 4.0 percent year-on-year growth. Offline sales lost 0.5 percent, while online sales gained 9.1 percent. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four “super supermarket” date2023-02-27

Trade Minister presides Foreign Business Community Roundtable

Minister for Trade Dukgeun Ahn presided the “Roundtable Meeting for Foreign Business Community in Korea” on February 23 at the Lotte Hotel Seoul and announced the Ministry’s foreign investment promotion policy for 2023, which aims to attract more foreign direct investment (FDI) with focus on high-tech industries.   The roundtable was held to resolve investment challenges through in-person communication with foreign-invested companies and the American, European, Chinese, date2023-02-27

MOTIE announces foreign investment promotion measures for 2023

Minister for Trade Dukgeun Ahn presided the “Roundtable Meeting for Foreign Business Community in Korea” on February 23 at the Lotte Hotel Seoul and announced the Ministry’s foreign investment promotion policy for 2023, which aims to attract more foreign direct investment (FDI) with focus on high-tech industries. The roundtable was held in attendance of a total of 25 persons, consisting of representatives from major countries' Chambers of Commerce in Korea, foreign-invested co date2023-02-27

1st Vice Minister holds 4th Real Economy (Bio) Site Inspection Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided the 4th Real Economy (Bio) Site Inspection Meeting on February 23 at K-SURE to share forecast and issues of bio-health industry’s export and investment for 2023.   Vice Minister Jang gave an opening message and led discussions on the export, investment and government support plans for the bio-health industry, while companies’ representatives shared their respective issues and challenges.   The meeting date2023-02-24

Korea announces pan-ministerial strategy for export growth

The Ministry of Trade, Industry and Energy announced on February 23 that President Yoon Suk-yeol presided the 4th Exports Strategy Meeting, during which Korea’s pan-ministerial strategy for export expansion for 2023 was confirmed. The Korean government set the nation’s 2023 export target value at USD 685.0 billion (exports totaled approximately $683.9 billion in 2022). In spite of difficult export conditions due to the global economic downturn, the Government’s concerns over p date2023-02-24

1st Vice Minister holds 3rd Real Economy Site Inspection Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided the 3rd Real Economy Site Inspection Meeting on February 22 at the Korea Coal Center (KCC) in Seoul and discussed machinery industry exports and investment prospects for 2023.   After his opening message, Vice Minister Jang led discussions on investment and exports forecast for Korea's machinery industry, as well as Government assistance plans.   The meeting was attended by relevant industry representatives, inclu date2023-02-23

Minister holds carbon neutral technology development roundtable

Trade, Industry and Energy Minister Lee Chang-yang attended the roundtable held on February 22 at Four Seasons Hotel Seoul for the signing ceremony of MOU for carbon-intensive firms to join hands in a consortium for carbon neutral technology development.   Minister Lee attended the MOU signing for carbon neutral technology development aiming to achieve carbon neutral goals across carbon-intensive sectors by supporting technological development and spreading the outcomes across other secto date2023-02-23

Korea holds Drone Show Korea 2023

The Ministry of Trade, Industry and Energy (MOTIE) announced on February 22 that Drone Show Korea 2023 will be held through February 23-25 at Busan Exhibition and Convention Center (BEXCO) and Deputy Minister for the Office of Industrial Policy Joo Young-joon is attending the opening ceremony to visit the exhibition booths and encourage participants. Marking its seventh show this year, Drone Show Korea was first launched in 2016 and is the nation’s largest drone exhibition, co-hosted by B date2023-02-23

MOTIE to host public hearing for EPAs with Mongolia & Georgia

The Ministry of Trade, Industry and Energy (MOTIE) will be hosting the public hearing for Korea-Mongolia Economic Partnership Agreement (EPA) and Korea-Georgia EPA at 2PM (KST) on March 9 in conference hall C1 of the Textile Center where various interested parties and industry experts will gather for topic presentations and discussions on the EPAs’ progress and prospects. Details of the public hearing are also available at www.gwanbo.go.kr and www.fta.go.kr as well. Mongolia and Georgia date2023-02-22