Ministry of Trade, Industry and Energy

Korea announces pan-ministerial strategy for export growth

The Ministry of Trade, Industry and Energy announced on February 23 that President Yoon Suk-yeol presided the 4th Exports Strategy Meeting, during which Korea’s pan-ministerial strategy for export expansion for 2023 was confirmed. The Korean government set the nation’s 2023 export target value at USD 685.0 billion (exports totaled approximately $683.9 billion in 2022). In spite of difficult export conditions due to the global economic downturn, the Government’s concerns over p date2023-02-24

1st Vice Minister holds 3rd Real Economy Site Inspection Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided the 3rd Real Economy Site Inspection Meeting on February 22 at the Korea Coal Center (KCC) in Seoul and discussed machinery industry exports and investment prospects for 2023.   After his opening message, Vice Minister Jang led discussions on investment and exports forecast for Korea's machinery industry, as well as Government assistance plans.   The meeting was attended by relevant industry representatives, inclu date2023-02-23

Minister holds carbon neutral technology development roundtable

Trade, Industry and Energy Minister Lee Chang-yang attended the roundtable held on February 22 at Four Seasons Hotel Seoul for the signing ceremony of MOU for carbon-intensive firms to join hands in a consortium for carbon neutral technology development.   Minister Lee attended the MOU signing for carbon neutral technology development aiming to achieve carbon neutral goals across carbon-intensive sectors by supporting technological development and spreading the outcomes across other secto date2023-02-23

Korea holds Drone Show Korea 2023

The Ministry of Trade, Industry and Energy (MOTIE) announced on February 22 that Drone Show Korea 2023 will be held through February 23-25 at Busan Exhibition and Convention Center (BEXCO) and Deputy Minister for the Office of Industrial Policy Joo Young-joon is attending the opening ceremony to visit the exhibition booths and encourage participants. Marking its seventh show this year, Drone Show Korea was first launched in 2016 and is the nation’s largest drone exhibition, co-hosted by B date2023-02-23

MOTIE to host public hearing for EPAs with Mongolia & Georgia

The Ministry of Trade, Industry and Energy (MOTIE) will be hosting the public hearing for Korea-Mongolia Economic Partnership Agreement (EPA) and Korea-Georgia EPA at 2PM (KST) on March 9 in conference hall C1 of the Textile Center where various interested parties and industry experts will gather for topic presentations and discussions on the EPAs’ progress and prospects. Details of the public hearing are also available at www.gwanbo.go.kr and www.fta.go.kr as well. Mongolia and Georgia date2023-02-22

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