Ministry of Trade, Industry and Energy

Korea's auto export value grows 16.4% in 2022

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 30 that Korea’s annual automobile export value for 2022 increased 16.4 percent to USD 54.1 billion, and export volume gained by 13.3 percent to 2.3 million units. In terms of automobile production and domestic sales, the industry saw an 8.5 percent increase and 2.4 percent decline, respectively. Exports growth is attributed to rising demand for domestic brands for their high quality, as well as relatively competitive date2023-01-30

Trade Minister visits smart farming company to discuss exports

Minister for Trade Dukgeun Ahn visited NextOn, a smart farming company in Seocho-gu, Seoul, on January 26 to tour the smart farm cultivation site and discuss measures to counter obstacles faced by domestic exporters.   Trade Minister Ahn was briefed by NextOn CEO Choi Jae-bin on company management and challenges before touring the site and encouraging employees.   date2023-01-30

Trade Minister attends Korea-Cambodia Business & Investment Forum

Minister for Trade Dukgeun Ahn attended the Korea-Cambodia Business and Investment Forum at COEX on January 27, held to promote trade and investment on occasion of the Korea-Cambodia FTA enforcement and gave a congratulatory message.    The trade chief said that the two countries should work together to seek out joint projects in digital economy and other areas where public-private collaboration is feasible, as well as in sectors relevant to clean energy for carbon neutral.   date2023-01-27

Trade Minister attends Korea-Cambodia Business & Investment Forum

Minister for Trade Dukgeun Ahn attended the Korea-Cambodia Business and Investment Forum held at COEX on January 27 and gave a congratulatory message. He noted that the opening of markets has established the foundation for a broader scope of trade for both countries across various areas like automobiles, machinery and agro-fishery products in comparison with the Korea-ASEAN FTA and Regional Comprehensive Economic Partnership (RCEP). The event was held in the attendance of Pan Sorasak, the Minis date2023-01-27

Minister holds Industrial Transformation Forum kick-off meeting

Trade, Industry and Energy Minister Lee Chang-yang presided the first Industrial Transformation Forum meeting with its six private-sector chairpersons and other experts on January 26 at the Korea Chamber of Commerce and Industry (KCCI) to discuss the need and specific measures for industrial transformation.   The Minister emphasized that Korea’s economy is facing various difficulties both externally and internally, and called for an industrial innovation by which Korea can break thr date2023-01-27

MOTIE kicks Industrial Transformation into high gear

The Ministry of Trade, Industry and Energy (MOTIE) held the first Industrial Transformation Forum meeting with its six private-sector subcommittees' chairpersons and representatives of relevant institutions on January 26 at the Korea Chamber of Commerce and Industry (KCCI) to discuss the need and specific measures for industrial transformation. Forum attendees pointed out that the majority of Korea’s exports and production has centered on 10 areas over the last decade, including semicondu date2023-01-27

Trade Minister discusses exports with think tank group

Minister for Trade Dukgeun Ahn held a conference on exports with research institutes at the Korea Chamber of Commerce and Industry (KCCI) on January 26 to forecast Korea’s economy and exports performance for 2023 and share government policies on exports strengthening measures.   Trade Minister Ahn assessed the impact of difficult external conditions like oil prices and exchange rates on the Korean economy, and facilitated discussions touching on various topics, including semiconduct date2023-01-26

2nd Vice Minister inspects winter season power supply situation

Trade, Industry and Energy 2nd Vice Minister Park Il-Jun visited the Seoul Thermal Power Plant in Mapo-gu on January 24 to inspect power facilities and management situation, where he was briefed by Lim Yang-soo, head of Korea Midland Power's Seoul headquarters. He toured the winter season power supply operations and encouraged employees. date2023-01-26

Korea and UAE agree to strengthen public-private economic cooperation

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin held the working group meeting of Korea-Middle East public-private joint committee for economic cooperation on January 25 at the Korea International Trade Association (KITA) in the attendance of relevant ministries, public institutions and private sector companies. The meeting consisted of two programs, the first of which focused on follow-up and implementation measures of the 16 MOUs signed between the two governme date2023-01-26

MOTIE holds public-private working group meeting on Korea-Middle East economic cooperation

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin held the public-private joint committee working group meeting on Korea-Middle East economic cooperation on January 25 at the Korea International Trade Association (KITA) to discuss 48 implementation measures following recent MOUs, building upon the Korea-UAE summit diplomacy momentum.   The Deputy Trade Minister exchanged views regarding energy, new industries, national defense, SMEs, trade and investment with date2023-01-25