Ministry of Trade, Industry and Energy

1st Vice Minister visits market ahead of Korea's Lunar New Year holidays

Trade, Industry, and Energy 1st Vice Minister Jang Young-jin visited the Gwangjang Traditional Market located in Jongno-gu, Seoul, on January 19 to inspect market prices and self-quarantine conditions ahead of Korea's Lunar New Year holidays.   After receiving a briefing from Seoul Merchants Association Chairman Choo Gwi-sung on market management issues, Vice Minister Jang purchased holiday goods using an onnuri gift certificate. In view of the COVID-19 situation, the purchased goods were date2023-01-20

Trade Minister attends trade ministerial sessions at Davos

Minister for Trade Dukgeun Ahn attended the World Economic Forum (WEF) 2023 held in Davos, Switzerland, as of January 18, where he partook in various sessions discussing key issues with many other countries’ government and business leaders.   He attended “The Case for Trade” session with U.S. Trade Representative Katherine Tai as one of the panelists and emphasized the need for stronger global trade solidarity for revitalization of the free trade system so as to respond date2023-01-20

Minister discusses investment deals with global companies at Davos

Trade, Industry and Energy Minister Lee met with the management personnel of German multinational science and technology company Merck and Swiss healthcare company Novartis, respectively, at Davos on January 19 to discuss investment in Korea.   Merck Life Science CEO Matthias Heinzel shared investment achievements and future cooperation measures, revealing that Korea is one of the major candidate sites for the company’s upcoming new plant for raw and subsidiary bio materials. &nbsp date2023-01-20

Trade Minister attends trade ministerial sessions at Davos

Minister for Trade Dukgeun Ahn attended the World Economic Forum (WEF) 2023 held in Davos, Switzerland, as of January 18, where he partook in various sessions discussing key issues with many other countries’ government and business leaders. Trade Minister Ahn attended the “The Case for Trade”, “Busting Business Barriers” and Trade and Investment Leadership Breakfast sessions to discuss measures for restoring the global trade system and investment. He attended &ldq date2023-01-20

Minister discusses investment deals with global companies

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 18 the decision of world-leading Danish wind turbine manufacturer Vestas to invest USD 300 million in South Korea, to which the company is positively considering moving its Asia-Pacific regional headquarters to South Korea. An investment deal ceremony was held in Davos, Switzerland, to mark the decision. With the $300 million investment, Vestas plans to build a large-scale wind turbine plant in Korea for producing core equ date2023-01-20

Korea and Poland discuss energy project at Davos

Trade, Industry and Energy Minister Lee Chang-yang held talks with Jacek Sasin, Poland's Deputy Prime Minister and Minister of State Assets, on January 18 in Davos to discuss the Korea-Poland joint Pątnów project and requested smooth progress of the feasibility study and other follow-up procedures, proposing an intergovernmental letter of intent (LOI) in addition to the one inked between their corporate parties so as to deepen the bilateral partnership. date2023-01-20

Korea holds talks with Poland and Czech Republic on energy cooperation

Trade, Industry and Energy Minister Lee Chang-yang, on the occasion of the World Economic Forum (WEF), held bilateral talks with the industry and energy Ministers of Poland and the Czech Republic on January 18 in Davos to discuss cooperation in nuclear power plants and high-tech industries. Minister Lee met with Jacek Sasin, the Polish Deputy Prime Minister and Minister of State Assets, to discuss cooperation in nuclear power plants. Prime Minister Sasin is one of the key figures leading the tw date2023-01-19

Minister holds investment deal ceremony with top wind turbine producer

Trade, Industry and Energy Minister Lee Chang-yang and Vestas CEO Henrik Andersen, on the occasion of the World Economic Forum (WEF), held an investment deal signing ceremony on January 18 in Davos, regarding Vestas’ $300 million investment to build a large-scale plant in Korea for manufacturing wind turbine equipment and parts with plans of exporting products to the Asia-Pacific region. date2023-01-19

1st Vice Minister holds Display Sector Assessment Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided a meeting to assess the real economy of Korea’s display sector on January 18 at the Korea Chamber of Commerce and Industry (KCCI) to resolve investment and exports challenges via active communication with industry parties.   Vice Minister Jang shared the Ministry’s plans for industry support and discussed measures to expand private companies’ facilities investment and exports.   Approximately 10 date2023-01-19

Korea and UAE hold business forum & consultation sessions

Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-UAE Business Forum with President Yoon Suk-yeol on January 16 at the Rixos Marina Abu Dhabi, on the occasion of which 23 MOUs and one agreement were signed in areas like bio, digital transition and metaverse. In energy, six MOUs were signed in areas like joint production in hydrogen and ammonia. Eight MOUs were signed in emerging industry sectors, including ICT (information and communications technology), digital transition a date2023-01-19