Ministry of Trade, Industry and Energy

Korea's retail industry grows 8.4% in November

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 29 that Korea’s retail sales in November gained a year-on-year growth of 8.4 percent. Both physical and online retailers advanced in sales, up 8.5 percent and 8.3 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. Thirteen of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, and four &ld date2022-12-29

Trade Minister attends 14th pan-ministerial exports support group conference

Minister for Trade Dukgeun Ahn held the 14th pan-ministerial exports support group conference on December 28 at the Trade Center in Seoul to discuss measures to boost exports of cosmetics, food products and premium consumer goods.   The Trade Minister remarked that “promoting exports of consumer goods that are less vulnerable to recently rising protectionism across major economies can build a more stable trade structure,” and added that promotional efforts will focus on local date2022-12-28

Soprano Jo Sumi appointed as honorary ambassador for World Expo 2030 Busan

The World EXPO 2030 Busan Bid Committee (hereinafter “Committee”) held a ceremony to appoint South Korean soprano Jo Sumi as the 4th official honorary ambassador for World Expo 2030 Busan on December 27 at the LG Art Center in Seoul. At the ceremony, Committee Secretary General Yoon Sang-jik and Busan Mayor Park Heong-joon presented soprano Jo Sumi with the appointment plaque. The 4th official honorary ambassador following actor and filmmaker Lee Jung-jae, AI Rozy and boy band BTS, date2022-12-28

Korea holds 231st Ministerial Meeting on International Economic Affairs

South Korea’s Deputy Prime Minister and Economy and Finance Minister Choo Kyung-ho presided the 231st Ministerial Meeting on International Economic Affairs on December 26 at the Government Complex Seoul, which was attended by ministers and vice ministers of relevant ministries, including the Ministry of Trade, Industry and Energy (MOTIE). In his opening message, Minister Choo remarked that 2022 has been a year with a high level of external uncertainty from Russia-Ukraine war, supply chain date2022-12-28

MOTIE appoints 4th Honorary Ambassador for World Expo 2030 Busan

The Ministry of Trade, Industry and Energy (MOTIE) held a ceremony on December 27 at the LG Art Center in Seoul to appoint soprano Jo Sumi as the 4th Honorary Ambassador for the World Expo 2030 Busan.    The ceremony was also attended by World EXPO 2030 Busan Bid Committee Secretary General Yoon Sang-jik and Busan Mayor Park Heong-joon.   date2022-12-27

Trade Minister attends 33rd Trade Agreement TF Meeting

Minister for Trade Dukgeun Ahn attended the 33rd Trade Agreement Task Force (TF) Meeting on December 23 at the President Hotel Seoul to seek measures to support companies amid the rapidly changing trade environment and newly emerging trade rules regarding digital transition, climate change and rising protectionism and to support domestic industries with respect to FTAs currently in force. He added that “the recent first round of official negotiations for the Indo-Pacific Economic Framewor date2022-12-27

Trade Minister holds Industrial and Energy ODA Networking Day 2022

Minister for Trade Dukgeun Ahn held the Industrial and Energy ODA (Official Development Assistance) Networking Day 2022 on December 22 at the Grand Hyatt Seoul to share industrial and energy ODA policy directions. This meeting was attended by ambassadors to the Republic of Korea from 28 countries, and is the second time an ambassador conference of this size was held this year. Trade Minister Ahn proposed the following three major plans as the Ministry of Trade, Industry and Energy (MOTIE)&rsqu date2022-12-27

Trade Minister attends 33rd Trade Agreement Task Force Meeting

Minister for Trade Dukgeun Ahn attended the 33rd Trade Agreement Task Force Meeting on December 23 at the President Hotel Seoul to discuss policy measures for supporting domestic industries and companies concerning enforced FTAs.   In his opening message, Trade Minister Ahn stated that “recent global supply chain crisis and climate change issues served as the momentum in ushering in a new international trade order, for which various corporate support measures and agendas will be dev date2022-12-27

Trade Minister attends Industrial Technology & Energy Development Cooperation Networking Day

Minister for Trade Dukgeun Ahn attended the Industrial Technology and Energy Development Cooperation Networking Day on December 22 with 28 Official Development Assistance (ODA) member states’ Ambassadors to Korea in Seoul to discuss measures for stronger industrial and energy networking, and requested support for World Expo 2030 Busan.   The event was attended by the 28 Ambassadors to Korea among the total 46 ODA member states.   date2022-12-23

2nd Vice Minister attends Public Energy Companies’ Technology Innovation Committee meeting

Trade, Industry and Energy 2nd Vice Minister Park Il-jun attended the 1st Public Energy Companies’ Technology Innovation Committee meeting on December 22 in Seoul to discuss measures for strengthening public-private energy R&D collaboration.   Vice Minister Park gave a congratulatory message, stating that “the Government and public energy companies must cooperate closely for R&D investment and good performance,” adding that public energy companies are important f date2022-12-23