Ministry of Trade, Industry and Energy

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

Korea's ICT exports hit all-time highs in 2022

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 12 that shipments of Korea’s information and communications technology (ICT) products in 2022 reached an all-time high of USD 233.3 billion, up 2.5 percent from 2021. Despite the protracted Russia-Ukraine war and global economic slowdown, ICT exports achieved a trade surplus of $80.9 billion and took up 34.1 percent of Korea’s total annual exports. Imports went up 12.9 percent to $152.5 billion. SMEs and middle date2023-01-13

Trade Minister attends 16th Trade Advisory Committee Meeting

Minister for Trade Dukgeun Ahn attended the 16th Trade Advisory Committee meeting on January 11 in Seoul and held public-private joint discussions on the future global trade landscape, forecasts and Korea’s response measures.   The meeting was attended by approximately 20 committee members consisting of industry and academia trade experts, including Trade Advisory Committee Chairman Jeong In-kyo, Korea Productivity Center Chairman Ahn Wan-gi and the Federation of Middle Market Enter date2023-01-13

Trade Minister attends 16th Trade Advisory Committee Meeting

Minister for Trade Dukgeun Ahn attended the 16th Trade Advisory Committee meeting on January 11 in Seoul and held public-private joint discussions on the future global trade landscape and Korea’s response measures. Trade Minister Ahn remarked that Korea, an exports-based open economy, will continue to face challenges amid the worldwide rise in protectionism. He emphasized the need for a trade policy that centers on pioneering new markets and preemptively nurtures advantageous trade enviro date2023-01-13

Korea and U.S. discuss critical minerals and energy cooperation

Trade, Industry and Energy 2nd Vice Minister Park Il-jun met with Jose W. Fernandez, U.S. Under Secretary for Economic Growth, Energy, and the Environment, on January 10 at the Government Complex Seoul to discuss cooperation in critical minerals, energy resources, and support for Korean companies’ exports and investment. Vice Minister Park emphasized that this is an important time for the two countries’ close cooperation in stabilizing the critical minerals supply chain, which is es date2023-01-11

Korea and U.S. discuss critical minerals and energy cooperation

Trade, Industry and Energy 2nd Vice Minister Park Il-jun met with U.S. Under Secretary for Economic Growth, Energy, and the Environment Jose W. Fernandez on January 10 at the Government Complex Seoul to discuss cooperation in critical minerals, energy resources, exports and investment.   date2023-01-10