Ministry of Trade, Industry and Energy

World Expo 2030 Busan Advisory Committee holds 2nd meeting

The Ministry of Trade, Industry and Energy (MOTIE) announced that the second meeting of World Expo 2030 Busan Advisory Committee (hereinafter “Committee”) was held at the Four Seasons Hotel on August 26, co-presided by Prime Minister Han Duck-soo and Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won.  MOTIE gave a briefing of the dossier and Committee members held a vote to confirm the dossier for official submission. Top experts worked together date2022-08-29

Minister attends radioactive waste disposal facilities groundbreaking ceremony

Trade, Industry and Energy Minister Lee Chang-yang attended the groundbreaking ceremony of second stage near-surface disposal facilities for low- and intermediate-level radioactive waste on August 26 held at the Korea Radioactive Waste Agency (KORAD) to encourage safe construction management, and visited the Wolsong nuclear reactor and dry storage facility.   Minister Lee remarked that the second stage near-surface disposal system for low- and intermediate-level radioactive waste will be date2022-08-29

Minister attends radioactive waste disposal facilities groundbreaking ceremony

Trade, Industry and Energy Minister Lee Chang-yang attended the groundbreaking ceremony of second stage near-surface disposal facilities for low- and intermediate-level radioactive waste on August 26 to encourage safe construction management, and visited the Wolsong nuclear reactor and dry storage facility. The second stage near-surface disposal facilities are the nation’s first low-level radioactive waste disposal infrastructure, with the capacity to handle 1,250,000 drums of waste. Con date2022-08-29

1st Vice Minister visits POSCO Chemical

Trade, Industry and Energy 1st Vice Minister Jang Young-jin visited POSCO Chemical in North Gyeongang Province on August 25 and received a briefing on the MPE (materials, parts, equipment) cooperation business model from Chung Dae-hun, Vice President of POSCO Chemical, a company that successfully secured a domestic supply chain for synthetic graphite anode materials required to produce secondary batteries. He then toured the assembly, coating and graphitization facilities and encouraged site wor date2022-08-26

2nd Vice Minister visits Korea Power Exchang to inspect preparedness

Trade, Industry and Energy 2nd Vice Minister Park Il-jun visited the Korea Power Exchange (KPE) Gyeongin Branch in Gyeonggi-do on August 24 to inspect power supply emergency preparedness as part of Ulchi Freedom Shield exercises.   The Gyeongin KPE Branch operates the noncapital region’s 154kV transmission system network. Vice Minister Park received a summertime power supply management briefing from KPE Gyeongin Branch Manager Kim Tae-hoon as well as a situation update on the Branch date2022-08-26

Korea attends 2nd RCEP Joint Committee Meeting

Trade, Industry and Energy FTA Negotiations Director General Lee Kyung-sik attended the 2nd Regional Comprehensive Economic Partnership (RCEP) Joint Committee Meeting held on August 25 via videoconferencing with 14 RCEP member states’ representatives to discuss RCEP implementation system.   In his opening remarks, Director General Lee stated that South Korea will actively engage in the effective implementation of support for RCEP utilization of SMEs and cooperate with relevant insti date2022-08-26

Korea attends 2nd RCEP Joint Committee meeting

The Ministry of Trade, Industry and Energy (MOTIE) announced on August 25 the launching of the 2nd Regional Comprehensive Economic Partnership (RCEP) Joint Committee Meeting, which was attended by approximately 40 persons from 14 member states via videoconferencing. The Korean government delegation is led by Lee Kyung-sik, MOTIE’s Director General for FTA Negotiations and includes officials of the Ministry of Economy and Finance (MOEF) and Korea Customs Service (KCS). This meeting is th date2022-08-26

Minister Lee holds Industry Conference in response to CHIPS Act

Trade, Industry and Energy Minister Lee Chang-yang held the Semiconductors, Cars and Batteries Industry Conference at KCCI on August 25 to seek public-private joint countermeasures in response to the U.S.’ recently passed CHIPS Act and Inflation Reduction Act (IRA).   In his opening remarks, Minister Lee relayed that “the Ministry will work closely with domestic automobile and battery sectors to respond to the IRA, while continuously raising the issue of the Acts possibly brea date2022-08-25

MOTIE holds Industry Conference in response to CHIPS Act

Trade, Industry and Energy Minister Lee Chang-yang held the Semiconductors, Cars and Batteries Industry Conference (hereinafter “Conference”) in Seoul on August 25 to seek public-private joint countermeasures in response to the U.S.’ recently passed CHIPS Act (Creating Helpful Incentives to Produce Semiconductors for America Act) and the Inflation Reduction Act. The CHIPS Act enables maximum 25 percent investment tax credits to companies making new investments in U.S. semicond date2022-08-25

1st Vice Minister visits Asan plant of Hanwha Aerospace Division

Trade, Industry and Energy 1st Vice Minister Jang Young-jin visited the Hanwha Corporation’s Aerospace Division Asan plant in South Chungcheong Province on August 24 and relayed the Government’s commitment to strengthening Korea’s aerospace and defense competitiveness.The Vice Minister received the company briefing on operation status and current issues from Hanwha Aerospace CEO Shin Hyun-woo. He then toured the KF-21 and T-50 production lines and space launch vehicle testing f date2022-08-25