Ministry of Trade, Industry and Energy

Government and National Assembly joint delegation visit U.S. to discuss IRA

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 9 that the Korean government and National Assembly’s joint delegation visited the U.S. through December 5-9 to meet with key members of the Biden Administration and U.S. Congress to discuss the Inflation Reduction Act (IRA). As the Biden administration is in the process of drawing up the IRA guidance based on opinions gathered from negotiations with major countries thus far, the delegation requested that Korea’ date2022-12-12

Trade Minister discusses IRA in Washington D.C.

Minister for Trade Dukgeun Ahn met with U.S. Trade Representative (USTR) Katherine Tai during his visit to Washington D.C. on December 8 and discussed possible solutions for Inflation Reduction Act (IRA), WTO reform and GSSA.    Trade Minister Ahn also met with Wally Adeyemo, U.S. Deputy Secretary of the Treasury, to discuss matters on IRA.    date2022-12-12

1st Vice Minister visits POSCO's Pohang steel mill

Trade, Industry and Energy 1st Vice Minister Jang Young-jin visited POSCO’s Pohang steel mill on December 9 amid cargo truckers’ strike and received a situation update on company operation issues, then inspected the site. date2022-12-12

1st Vice Minister attends opening ceremony of 1st small & medium distribution fulfillment center

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended on December 9 the opening ceremony of the nation’s first fulfillment center for small and medium-sized distribution businesses in Pohang and held an MOU signing ceremony for promoting the spread of small and medium-sized fulfillment systems.   Vice Minister Jang attended the ribbon cutting ceremony announcing the launching of the fulfillment center and gave a congratulatory message, stating that “the Poh date2022-12-12

MOTIE announces measures to improve foreign investment environment

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 8 the measures to revise unreasonable regulations and improve investment environment, prepared together with relevant Ministries for enhancing investment conditions for foreign-invested companies. The Government began a survey on foreign-invested companies in June via conferences via Korea Chamber of Commerce and Industry (KCCI) and direct surveys, gathering 454 opinions which were then narrowed down to 40 specific im date2022-12-09

Trade Minister attends Korea-U.S. Industrial Technology Cooperation Forum

Minister for Trade Dukgeun Ahn visited Washington D.C. on December 8 to attend the Korea-U.S. Industrial Technology Cooperation Forum and met with high-ranking U.S. officials and industry leaders to discuss high-tech and supply chain cooperation.   Attendees included Darren Soto, U.S. Representative, Bart Maroney, Acting Deputy Assistant Secretary for Manufacturing and Executive Director of the Office of Manufacturing Industry and Analysis, and Semiconductor Industry Association (SIA) Cha date2022-12-09

MOTIE announces Korea's vaccine industry survey results

The Ministry of Trade, Industry and Energy (MOTIE) and Ministry of Health and Welfare (MOHW) announced on December 6 the domestic vaccine industry survey results for 2021 in terms of sales, exports, employment and investment. This survey was conducted by a group of institutions, including the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, Korea Specialty Chemical Industry Association and Korea Rating & Data (KoDATA), and it is the first survey on the domestic vaccine industr date2022-12-08

MOTIE holds Korea Tech Show 2022

Trade, Industry and Energy Ministry’s Deputy Minister for Office of Industry and Enterprise Innovation Hwang Soo-sung attended the Korea Tech Show 2022 on December 7 at COEX, held under the slogan of “Leading industrial transformation with super gap technology” to share R&D achievements with the public and discuss promising future technologies.   The Deputy Minister gave a congratulatory message after the opening ceremony performance and awarded 38 orders and medals date2022-12-08

MOTIE holds 59th Trade Day

The Ministry of Trade, Industry and Energy (MOTIE) held the 59th Trade Day ceremony on December 5 at COEX in Seoul with the Korea International Trade Association (KITA). This year’s ceremony is meaningful in that Korea recorded highest-ever exports amid the COVID pandemic, Russia-Ukraine war and numerous countries’ interest hikes. Contributors to trade advancement were awarded various Tower Orders of Industrial Service Merit. To commemorate the first Trade Day since inauguration, t date2022-12-07

Minister holds strategic roundtable on carbon composites competitiveness

Trade, Industry and Energy Minister Lee Chang-yang presided a strategic roundtable on carbon composites industry development on December 6 at the Korea Chamber of Commerce and Industry (KCCI) and led discussions on measures to bolster Korea’s global competitiveness.   The Minister gave an opening message after touring the exhibitions featuring carbon composite materials in aerospace and defense, and sought strategies and measures for strengthening competitiveness of the carbon compo date2022-12-07