Ministry of Trade, Industry and Energy

Minister Lee and Airbus D&S CEO discuss aerospace industry cooperation

Trade, Industry and Energy Minister Lee Chang-yang held talks with Airbus Defense & Space (D&S) CEO Michael Schoellhorn at the Government Complex Seoul on November 16 and discussed measures for aerospace industry development and Korean companies’ exports expansion. date2022-11-17

Minister Lee and Airbus D&S CEO discuss aerospace industry cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Airbus Defense and Space (D&S) CEO Michael Schoellhorn on November 16 at the Government Complex Seoul to discuss measures to strengthen the aerospace and defense industry. Airbus D&S is a division of Airbus SE, the European multinational aerospace corporation, and this meeting was convened on the occasion of the Airbus D&S chief’s visit to South Korea for local management affairs. Discussions centered on cooperation date2022-11-17

Korea and Indonesia hold Business Roundtable on sidelines of G20

Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-Indonesia Business Roundtable on November 14, held on the sidelines of the G20 summit convened in Bali, Indonesia, where 10 memorandums of understanding (MOUs) were signed by public and private parties of the two countries. The roundtable was co-hosted by the Federation of Korean Industries (FKI) and Indonesian Chamber of Commerce and Industry (KADIN), and attended by 40 officials and business representatives. It was the firs date2022-11-16

Korea and Sweden discuss economic cooperation and IRA response measures

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin met with Sweden’s Ambassador Håkan Jevrell on November 15 at the JW Marriott Hotel Seoul to discuss joint measures in response to U.S.’ Inflation Reduction Act (IRA), enhanced bilateral economic cooperation in green and digital transition, and requested support for World EXPO 2030 Busan.  date2022-11-16

Korea attracts more investment with groundbreaking of ASML chip cluster

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 15 that construction for Dutch semiconductor equipment maker ASML’s new headquarters in South Korea’s Hwaseong is to begin, bringing greater investment from four major chip equipment producers (Applied Materials, ASML, Lam Research, Tokyo Electron) that take up more than 60 percent of the global market, which will substantially contribute to enhancing Korea’s technological competitiveness. The groundbreak date2022-11-15

1st Vice Minister attends 36th Textile Day

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the 36th Textile Day on November 11 in Seoul to encourage those in the textiles and fashion industry and congratulate the robust exports despite economic slowdown and supply chain realignment concerns.   The Vice Minister gave a congratulatory message and awarded medals and orders of merit to 47 persons who contributed to the development of the textile industry, including Huvis CEO Shin You-dong, who received the Gold To date2022-11-15

2nd Vice Minister attends Yeosu GS Caltex MFC Plant completion ceremony

Trade, Industry and Energy 2nd Vice Minister Park Il-jun attended the Yeosu GS Caltex olefin mixed feed cracker (MFC) plant completion ceremony on November 11 and congratulated the successful construction.   Vice Minister Park stated in his congratulatory message that “by this plant completion, GS Caltex has grown from being a conventional oil refinery to an international energy enterprise with growth engine for the future” and added that “amid surging oil, gas and globa date2022-11-15

2nd Vice Minister attends Radioactive Waste Management Safety Symposium

Trade, Industry and Energy 2nd Vice Minister Park Il-jun attended the '8th International Symposium on Safety Improvement & Stakeholder Confidence in Radioactive Waste Management' on November 10 in Gyeongju, held under the theme of “trust-building through policy implementation, technology and communication for safety management of high-level radioactive waste.”   Vice Minister Park gave a congratulatory message and awarded governmental commendations (ministerial) to contrib date2022-11-14

Korea's ICT exports decline 10.3% in October

The Ministry of Trade, Industry and Energy announced on November 14 that exports of Korea’s information and communications technology (ICT) products dropped 10.3 percent to USD 17.9 billion in October. Imports gained 13.6 percent to $13.8 billion, and the trade balance stood at a surplus of $4.1 billion. Exports of semiconductors, displays, computers and peripherals declined due to global economic slowdown, while mobile phones advanced along with strong demand for high value-added parts. date2022-11-14

Korea and Saudi Arabia hold ministerial talks to expand cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Saudi Arabia’s Investment Minister Khalid Al-Falih on November 10 in Seoul to discuss Korea-Saudi Vision 2030 Committee cooperation and investment expansion measures. date2022-11-14