Ministry of Trade, Industry and Energy

Minister attends Korea-UAE Business Forum

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 24 MOUs were signed in areas like bio, digital transition and metaverse.   Business consultation sessions were also held at the same venue, with 36 Korean companies and 105 UAE buyers participating for synergy in nuclear power plants, energy, smart city, smart farming and premium consumer goods.   date2023-01-19

Korea and UAE sign MOUs for trade, industry & energy cooperation

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 15 that, on the occasion of President Yoon Suk-yeol’s state visit to the United Arab Emirates (UAE), a total of seven memorandums of understanding (MOUs) were signed between South Korea’s and UAE’s government ministries, institutions and companies for cooperation in energy (5 MOUs), industry (1), trade and investment (1). MOTIE Minister Lee Chang-yang and UAE’s Minister of Industry and Advanced Techn date2023-01-18

Korea announces growth acceleration scheme for middle-market companies

  The Ministry of Trade, Industry and Energy (MOTIE) announced on January 16 the growth acceleration scheme for middle-market companies to be pushed by South Korea’s new regime, during a conference held at MCNEX (Incheon), one of the world’s top automotive camera producers. The conference was attended by MOTIE’s 2nd Vice Minister Park Il-jun, as well as representatives of six middle-market companies and relevant institutions, including the Korea Trade-Investment Promoti date2023-01-17

2nd Vice Minister holds Middle-Market Industry Conference

Trade, Industry and Energy 2nd Vice Minister Park Il-jun presided the Middle-Market Industry Conference on January 16 in Incheon to share growth acceleration strategies and challenging issues per company.   The Vice Minister remarked in his opening message that “middle-market companies make up the backbone of Korean industries and will play a core role for the Korean economy in overcoming current challenges and making new leaps,” and that “the first agenda for our econom date2023-01-17

Trade Minister holds MOU ceremony for trade promoting institutions

Minister for Trade Dukgeun Ahn held an MOU signing ceremony with the Trade Promotion Institutions Committee on January 13 in Seoul to promote close communication and cooperation between the Government and exports supporting institutions amid the rapidly changing trade environment.   The event was attended by representatives of relevant ministries and institutions, including the Ministry of SMEs and Startups, Korea Customs Service, Korea International Trade Association (KITA) and Korea Tra date2023-01-16

MOTIE announces Industrial AI Internalization Strategy

The Ministry of Trade, Industry and Energy (MOTIE) held the first Industrial Digital Transformation Committee meeting at the Korea Chamber of Commerce and Industry (KCCI) on January 13, where the members deliberated and confirmed the Industrial AI (artificial intelligence) Internalization Strategy (hereinafter “Strategy”). The meeting was attended by relevant ministries’ officials and 13 private sector experts, and was presided by MOTIE’s Minister Lee Chang-yang. MOTIE date2023-01-16

Korea-Singapore Digital Partnership Agreement enters into force

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 14 that the Korea-Singapore Digital Partnership Agreement (hereinafter “KSDPA”) comes into effect starting January 14 as both countries’ domestic procedures are completed. The two sides, following their KSDPA signing ceremony held in November 2022, have exchanged on paper notifying the respective fulfillment of their internal legal and procedural requirements, and therefore the KSDPA enters into force begi date2023-01-16

Korea and Lithuania discuss trade and economic cooperation

Minister for Trade Dukgeun Ahn met with Lithuania’s Foreign Affairs Minister Gabrielius Landsbergis on January 12 in Seoul to discuss measures to strengthen bilateral economic and trade cooperation and also requested support for World Expo 2030 Busan. Minister Landsbergis mentioned that Lithuanian companies specializing in LNG (Klaipedos Nafta), laser (Light Conversion) and EV charging (In Balance Grid) had accompanied him on his visit to hold talks with Korean companies like Samsung Disp date2023-01-16

1st Vice MInister attends petrochemical industry's New Year's ceremony

Trade, Industry and Energy 1st Vice Minister attended the Petrochemical Industry’s New Year’s Greetings Ceremony for 2023 on January 12 at the Plaza Hotel Seoul to give a congratulatory message and share policy directions on sustainable industry development in 2023.   The event was attended by approximately 150 persons, including industry representatives like the Korea Petrochemical Industry Association Chairman Shin Hak-chul and CEOs from SK Geo Centric and GS Caltex.   date2023-01-16

Korea and Lithuania discuss trade and economic cooperation

Minister for Trade Dukgeun Ahn met with Lithuania’s Foreign Affairs Minister Gabrielius Landsbergis on January 12 in Seoul to discuss measures to strengthen bilateral trade and economic cooperation and requested support for World Expo 2030 Busan.   date2023-01-13