Ministry of Trade, Industry and Energy

Korea's retail industry grows 15.4% in August

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 28 that Korea’s retail sales in August posted year-on-year growth of 15.4 percent. Both physical and online retailers achieved growth in sales, up 14.5 percent and 16.4 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, date2022-09-28

Korea and Uruguay discuss cooperation in new industries

Trade, Industry and Energy 2nd Vice Minister Park Il-jun held talks with Uruguay’s Industry, Energy and Mining Minister Omar Paganini at the Government Complex Seoul on September 26 on measures to strengthen ROK-Uruguay cooperation in new industries, including hydrogen, renewable energy and EV. date2022-09-27

MOTIE attends CEM13 and MI-7 to deepen global partnership for clean energy

Trade, Industry and Energy Ministry’s Energy Industry Deputy Minister Cheon Young-gil attended the 13th Clean Energy Ministerial (CEM13) and 7th Mission Innovation Ministerial (MI-7) on September 21-23 in Pittsburg, U.S., representing South Korea. CEM was first launched in 2010 with aim to expand the distribution of clean energy and member states total 30 as of 2022. MI was launched in 2015 to expand clean energy R&D, and member states total 23 as of 2022. South Korea has participated date2022-09-26

1st Vice Minister attends 13th Display Day Ceremony

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the 13th Display Day Ceremony on September 22 at the JW Marriott Hotel Seoul to congratulate OLED’s global no. 1 ranking and promote solidarity among domestic display industry business leaders.   In his congratulatory message, Vice Minister Jang stated that “the Ministry will fully support domestic firms’ investment and innovation efforts to attain supergap competitiveness amid difficult date2022-09-26

1st Vice Minister attends Industrial Complex Day 2022

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the ceremony for Industrial Complex Day 2022 on September 22 at G-Tower in Seoul, held to celebrate the achievements of Korea’s industrial complexes and encourage tenant companies and entrepreneurs.   Vice Minister Jang delivered a congratulatory message and awarded 66 orders and medals of merit, including the Iron Tower Order of Industrial Service Merit given to K Elim New Star CEO Kim Gi-won, for contributing to date2022-09-26

Korea and Canada sign Critical Minerals Supply Chain Cooperation MOUs

Trade, Industry and Energy Minister Lee Chang-yang attended the business MOU signing ceremony for ROK-Canada Critical Minerals Supply Chain Cooperation held on September 22 in Toronto to discuss the importance of expanding the scope of bilateral critical minerals cooperation and joint response against global supply chain crises. A total of four MOUs were signed, including three MOUs between Korea’s LG Energy Solution and three Canadian companies (Avalon, Electra, Snow Lake) on cooperation date2022-09-26

Korea and Canada renew Industrial Technology & Innovation Partnership MOU

Trade, Industry and Energy Minister Lee Chang-yang, on the occasion of President Yoon Suk-yeol’s state visit, held a luncheon meeting with Canada's Innovation, Science and Industry Minister Francois-Philippe Champagne on September 23 at the Sheraton Ottawa Hotel in Canada to discuss bilateral cooperation in supply chain and industrial collaboration. The two Ministers concurred that ROK-Canada’s technology and investment cooperation is continuously deepening amid global supply chain date2022-09-26

Trade Minister attends Trade, Investment & Industry Ministerial G20 Meeting

Trade Minister Ahn Duk-geun attended the Trade, Investment and Industry Ministerial G20 Meeting held in Bali, Indonesia on September 21-23 to discuss supply chain reinforcement, digital trade, WTO reform and green investment. Bilateral talks with the U.S., Indonesia, India and several other G20 member states were also held on the sidelines.   For each agenda, Minister Ahn relayed South Korea’s contributory efforts, policy directions under the new regime, and future joint measures to date2022-09-23

MOTIE holds North American Investment Notification Ceremony and Investors Roundtable

The Ministry of Trade, Industry and Energy (MOTIE) held the North American Investment Notification Ceremony and Investors Roundtable on September 22 (local time) at the JW Marriott Essex House in New York on the occasion of South Korea’s President Yoon Suk-yeol’s first visit to the U.S. The Ministry announced that the event had drawn a total of USD 1.15 billion in investment from seven companies for the development of Korea’s strategic technology supply chain items like date2022-09-23

Vice Minister visits Taebaek Gadeoksan onshore wind farm

Trade, Industry and Energy 2nd Vice Minister Park Il-jun visited the Taebaek Gadeoksan onshore wind farm in Gangwon Province on September 22 to inspect the local residents’ wind power project participation progress.   The Vice Minister toured the wind power farm and stated in his opening remarks that, “because local farmers and fishermen are inevitably affected by the construction and operation of these renewable energy plants, it is imperative that project developers communic date2022-09-23