Ministry of Trade, Industry and Energy

MOTIE signs "KEEP 30" MOU for energy efficiency partnership

Trade, Industry and Energy Minister Lee Chang-yang signed the “Korea Energy Efficiency Partnership (KEEP) 30” MOU on October 19, a new project by which 30 largest energy consuming companies will make efforts to attain energy efficiency goals for over the next five years, while the Korean government supports them with an incentive package.   Minister Lee attended the MOU signing ceremony and gave an opening message. Participating companies expressed commitment to the five-year date2022-10-21

MOTIE signs "KEEP 30" MOU for energy efficiency partnership

Trade, Industry and Energy Minister Lee Chang-yang signed the “Korea Energy Efficiency Partnership (KEEP) 30” MOU on October 19 with 30 largest energy consuming companies’ representatives, including Samsung Electronics CEO Rhee In-yong and Hyundai Steel CEO Ahn Dong-il. The KEEP MOU signing is another commitment in a series of energy saving, following the “10 resolutions for the public sector energy diet” announced on October 6. Industrial energy consumption takes date2022-10-21

Korea and Philippines to bolster supply chain and energy cooperation

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin met with Ceferino S. Rodolfo, Philippines’ Undersecretary for the Industry Development Group (IDG) of the Department of Trade and Industry on October 18 on the occasion of his visit to Korea and discussed raw materials supply chain and nuclear energy cooperation, and held the second meeting of Korea-Philippines Joint Commission for Trade and Economic Cooperation. date2022-10-20

Korea and Philippines to bolster supply chain and nuclear energy cooperation

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin met with Ceferino S. Rodolfo, Philippines’ Undersecretary for the Industry Development Group (IDG) of the Department of Trade and Industry on October 18 on the occasion of his visit to Korea and discussed raw materials supply chain and nuclear energy cooperation, and held the second meeting of Korea-Philippines Joint Commission for Trade and Economic Cooperation (hereinafter “Commission”). Both sid date2022-10-20

1st Vice Minister attends Digital Transformation Fair 2022

Industry, Trade and Energy 1st Vice Minister Jang Young-jin attended the opening ceremony of Digital Transformation Fair 2022 (D.Ton) on October 18 at KINTEX, Ilsan, where he awarded orders and medals of merit to those who contributed to Korea’s machinery industry.    Vice Minister Jang stated in his congratulatory message that “Korea’s machinery industry needs to see intellectualization and value enhancement to bring about the advancement of the manufacturing indus date2022-10-20

Minister holds 10th MPE Competitiveness Committee Meeting

Trade, Industry and Energy Minister Lee Chang-yang held the 10th MPE (Materials, Parts and Equipment) Competitiveness Committee on October 18 at the Government Complex Seoul to discuss new policy directions under the new regime and extended scope of MPE core strategic technologies.   The meeting was attended by relevant officials and other experts, including Economy and Finance Minister Choo Kyung-ho, SMEs and Startups Minister Lee Young and Korea University Professor Ha Jeong-sook. &nbs date2022-10-19

MOTIE announces MPE industry policies

Trade, Industry and Energy Minister Lee Chang-yang held the 10th Materials, Parts and Equipment (MPE) Competitiveness Committee (hereinafter “Committee”) Meeting at the Government Complex Seoul on October 18 to discuss and confirm MPE policy directions under South Korea’s new regime. A first under the Yoon administration, the meeting was held against the backdrop of prolonged Russia-Ukraine war and intensifying U.S.-China technology hegemony race among other internal and exter date2022-10-19

Korea and Saudi Arabia to expand cooperation and investment

Trade, Industry and Energy Minister Lee Chang-yang held talks with Saudi Arabia’s Investment Minister Khalid A. Al-Falih on October 17 via videoconferencing at the Government Complex Sejong to discuss bilateral industrial cooperation, investment expansion and future directions for Korea-Saudi Vision 2030 Committee. date2022-10-18

Korea and Saudi Arabia to strengthen cooperation in new industries

Trade, Industry and Energy Minister Lee Chang-yang met with Saudi Arabia’s Investment Minister Khalid Al-Falih to discuss bilateral industrial cooperation, investment and future directions for the Korea-Saudi Vision 2030 Committee (hereinafter “Committee”). The two Ministers assessed that the Committee has played a pivotal role in the advancement of their mutually supplementary economic cooperation, which they concurred should be further upgraded on the basis of the 60th anniv date2022-10-18

Korea's ICT trade achieves $7.9 billion surplus in September

The Ministry of Trade, Industry and Energy announced on October 14 that outbound shipments of Korea’s information and communications technology (ICT) goods for September recorded USD 20.9 billion, taking up 36.3 percent of Korea’s total exports. Imports increased 13.7 percent to $12.9 billion, and the trade balance stood at a surplus of $7.9 billion. Among the major items, deteriorating global economic conditions dragged down exports of chips, displays and computers and peripherals date2022-10-14