Ministry of Trade, Industry and Energy

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

Korea and Saudi Arabia to strengthen Vision 2030 Committee cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Saudi Arabia’s Investment Minister Khalid Al-Falih on November 10 on the occasion of the latter’s visit to South Korea, to discuss investment and economic cooperation expansion measures. The Ministers concurred that the Korea-Saudi Vision 2030 Committee has contributed greatly to the two countries’ industrial diversification and economic cooperation, such as laying Saudi’s shipbuilding industry foundations, bols date2022-11-14

MOTIE attends Saudi-Korean Business Workshop 2022

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin attended the Saudi-Korean Business Workshop 2022 in Seoul on November 10, held to seek cooperation measures in megaprojects like energy, infrastructure and NEOM.   The Deputy Trade Minister gave an opening message, assessing that “the two countries are diversifying and expanding the facets of cooperation from energy, construction, infrastructure and such conventional areas to manufacturing and services,& date2022-11-14

Korea's auto exports value grows 28.5% in October

The Ministry of Trade, Industry and Energy announced on November 11 that Korea’s October automobile production, domestic sales and exports all recorded double-digit growth of 24.2 percent, 15.2 percent and 30.2 percent, respectively. Automobile exports in value increased 28.5 percent to USD 4.9 billion. Despite the identical number of operating days as those of previous year, automobile output in October climbed 24.2 percent to 327,486 units on the backs of a base effect from automotive date2022-11-11

Minister attends 6th Korea-Shandong Economic and Commercial Cooperation Exchange

Trade, Industry and Energy Minister Lee Chang-yang attended the sixth meeting of the Korea-Shandong Economic and Commercial Cooperation Exchange on November 9 and held talks with Li Ganjie, Communist Party Secretary of Shandong province, on bilateral cooperation across industrial sectors, supply chain, logistics and stronger substantial collaboration. date2022-11-11

MOTIE holds 6th Korea-Shandong Economic and Commercial Cooperation Exchange

Trade, Industry and Energy Minister Lee Chang-yang attended the sixth meeting of the Korea-Shandong Economic and Commercial Cooperation Exchange (hereinafter “Exchange”) on November 9, held via videoconferencing. Launched in 2016, the Exchange is an annual event where Korea and the Shandong province discuss economic cooperation and seek ways to support the stabilization of Korean companies located in the province. Approximately 120 persons attended this year’s Exchange. Prior date2022-11-11