Ministry of Trade, Industry and Energy

Minister discusses investment with Toray Industries CEO

Trade, Industry and Energy Minister Lee Chang-yang met with Akihiro Nikkaku, the CEO of Toray Industries, Inc. on February 22 at the Lotte Hotel Seoul to discuss production and investment expansion measures for high-performance carbon fibers in Korea. date2023-02-22

1st Vice Minister attends High-Tech Robot Strategy Alliance kick-off ceremony

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the High-Tech Robot Strategy Alliance kick-off ceremony on February 21 at the Bundang Doosan Tower to discuss practical strategies for nurturing and supporting the robot industry.   Vice Minister Jang gave an opening message and led discussions on the basic direction for “high-tech robot industry strategy 1.0” and plans for Alliance management and challenges voiced by companies per each sector in the robot in date2023-02-22

MOTIE attends 3rd RCEP Joint Committee meeting

The Ministry of Trade, Industry and Energy (MOTIE) announced on February 21 that the 3rd Joint Committee meeting of the Regional Comprehensive Economic Partnership (RCEP), which is in its second year of coming into force, is held through February 20-22 via videoconferencing in the attendance of 40 persons consisting of its 15 member states’ delegation and the ASEAN Secretariat, with delegation heads of Co-Chairs Indonesia and Australia leading discussions on RCEP Secretariat management, ec date2023-02-22

Minister visits leading plasma cleaner exporter

Trade, Industry and Energy Minister Lee Chang-yang visited Vision Semicon, a world-leading plasma cleaner exporter located in Sejong City on February 20 to seek exports rebound measures amid the global economic slowdown and supply chain realignment.  The Minister received a briefing on company operations from Vision Semicon CEO Yoon Tong-seob and toured production facilities and encouraged employees.   date2023-02-21

Korea's auto output, domestic sales & exports all increase in January

The Ministry of Trade, Industry and Energy announced on February 20 that Korea’s automobile industry in January increased in all of production, domestic sales and exports year-on-year. In spite of lower number of operating days from the Seollal holidays, Korea’s auto output in January rose 13.2 percent to approximately 0.3 million units, thanks to improved conditions for supply of semiconductors. Hyundai Motor and Kia each saw production rise 18.8 percent and 5.3 percent, respect date2023-02-21

1st Vice Minister discusses IRA & other issues with U.S. high-ranking officials

Trade, Industry and Energy 1st Vice Minister Jang Young-jin met with the U.S. Deputy Secretary of Commerce Don Graves and Deputy National Security Advisor Mike Pyle, respectively, on February 16 in Washington D.C. to discuss and seek solutions for issues on the Inflation Reduction Act (IRA), semiconductor trade, export control concerns and measures for stronger Korea-U.S. high-tech cooperation. date2023-02-20

Trade Minister holds talks with Prime Minister of Croatia

Minister for Trade Dukgeun Ahn met with Croatia’s Prime Minister Andrej Plenković on February 16 at the Prime Minister’s Office of the Government of the Republic of Croatia to discuss bilateral economic and trade cooperation and requested support for Korea’s bid to host World Expo 2030 Busan. date2023-02-20

Minister holds Steel Industry Development Roundtable

Trade, Industry and Energy Minister Lee Chang-yang presided the Steel Industry Development Roundtable on February 16 at the JW Marriott Hotel Seoul to seek measures for Korea to overcome challenges and claim the name for one of world's top three global steel powerhouses.   The Minister signed the MOU for low carbon steel industry prior to the meeting, then led roundtable talks on countermeasures against reinforced trade barriers from carbon neutral, worldwide oversupply and drop date2023-02-17

MOTIE launches public-private committee for Korea-Middle East economic cooperation

Trade, Industry and Energy Minister Lee held a meeting on February 16, launching the Public-Private Joint Committee for Korea-Middle East Economic Cooperation at the Lotte Hotel Seoul and discussed plans for economic cooperation “shuttle group” and subcommittee project support.   The committee meeting for the launching ceremony was attended by representatives of companies and institutions concerning the Korea-Middle East economic summit diplomacy outcomes, including Korea Trad date2023-02-17

Korea's economic delegation promotes World Expo 2030 Busan in Austria & Croatia

Minister for Trade Dukgeun Ahn is leading Korea’s public-private joint economic delegation to Austria and Croatia through February 15-17 for bilateral talks on expanding cooperation in economy and trade, and to draw support for Korea’s bid to host World Expo 2030 in Busan. As Europe is home to the largest number of Bureau International des Expositions (BIE) member states, the economic delegation will visit a total of 13 countries across the continent to promote World Expo 2030 Busan date2023-02-17