Ministry of Trade, Industry and Energy

Korea's automobile export value grows 34.7% in September

The Ministry of Trade, Industry and Energy announced on October 14 that automobile production, domestic sales and exports all posted double-digit growths of 34.1 percent, 23.1 percent and 27.5 percent, respectively. The growth is attributable to improved automobile semiconductor supply situation, higher number of operating days in comparison, and continued overseas demand for domestic cars. Automobile production in September rose 34.1 percent to 307,721 units, growing for five consecutive mont date2022-10-14

Korea and Australia hold talks on critical minerals and supply chain

Trade Minister Ahn Duk-geun met with Australia’s Trade and Tourism Minister Don Farrell on October 13 in Seoul to discuss FTA, critical minerals, WTO, supply chain and other bilateral and multilateral trade issues. date2022-10-14

MOTIE announces Eco-Friendly Biofuel Development Measures

Trade, Industry and Energy Minister Lee Chang-yang held a conference on October 13 at the Korea Press Center in Seoul with industry representatives to sign a “mutual growth MOU” and announced the Ministry’s plan for developing and expanding effective use of eco-friendly biofuel.   Minister Lee encouraged the industry, stating that “it is very meaningful for Korean industries to make joint efforts for the vitalization of eco-friendly biofuel and other promising sect date2022-10-14

Korea and Australia hold talks on critical minerals and supply chain

Trade Minister Ahn Duk-geun held talks with Australia’s Trade and Tourism Minister Don Farrell on October 13 on the occasion of the latter's visit to Korea, and discussed ROK-Australia’s critical minerals cooperation expansion measures, WTO reform and bi-, multi-lateral trade issues, and requested Australia’s support for World EXPO 2030 Busan. The bilateral talks are the first to be held after Korea and Australia’s relations were upgraded to a comprehensive and strategic date2022-10-14

MOTIE announces Eco-Friendly Biofuel Development Measures

Trade, Industry and Energy Minister Lee Chang-yang held a conference on October 13 at the Korea Press Center in Seoul with industry representatives to sign a “mutual growth MOU” and announced the Ministry’s plan for developing and expanding effective use of eco-friendly biofuel. The plan was drafted and prepared against the backdrop of growing market prospects for eco-friendly biofuel as an effective means to respond to climate change, through extensive communication and cons date2022-10-14

1st Vice Minister holds 35th Business Realignment Deliberative Committee Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided the 35th Business Realignment Deliberative Committee Meeting on October 12 at the Lotte Hotel Seoul in the presence of government officials and private sector members to deliberate 17 items of various sectors, including future cars, bio, agricultural cooperative and eco-friendly. date2022-10-13

Korea hosts 2022 Seoul International Forum on Trade Remedies

The Korea Trade Commission (KTC) under the Ministry of Trade, Industry and Energy is hosting the “2022 Seoul International Forum on Trade Remedies” (hereinafter “Forum”) on the theme of “Post-COVID Trade Remedy System Management” on October 13 at the Grand InterContinental Seoul Parnas. Approximately 100 persons are attending the event, including representatives of trade remedies institutions of 10 major countries, the WTO and other relevant internationa date2022-10-13

Minister holds ROK-Australia Critical Minerals Business Roundtable

The Ministry of Trade, Industry and Energy (MOTIE) Minister Lee Chang-yang held the ROK-Australia Critical Minerals Business Roundtable on October 12 at the Four Seasons Hotel in Seoul to discuss critical minerals supply chain and U.S.’ Inflation Reduction Act (IRA) with Australia’s Trade and Tourism Minister Don Farrell.   Minister Lee gave an opening message, and discussed long-term contracts, mutual investment and supply chain cooperation in the presence of 20 Korean and Au date2022-10-13

MOTIE holds ROK-Australia Critical Minerals Business Roundtable

The Ministry of Trade, Industry and Energy (MOTIE) held the ROK-Australia Critical Minerals Business Roundtable on October 12 at the Four Seasons Hotel in Seoul to secure a stable critical minerals supply chain for domestic companies and to counter the U.S.’ Inflation Reduction Act (IRA) impact. As Korea’s FTA partner, Australia is rich in critical minerals, ranking first worldwide in production of lithium (takes up 49 percent of global production), third in cobalt (4 percent) and m date2022-10-12

MOTIE hosts Global Bio & Pharma Plaza 2022

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 12 that it will be hosting the Global Bio & Pharma Plaza 2022 (GBPP 2022) at Lotte Hotel World in Seoul together with the Korea Trade-Investment Promotion Agency (KOTRA) and Korea Pharmaceutical Traders Association on October 12-13. Approximately 80 buyers will be participating from 21 countries, including the U.S., India, Thailand, Indonesia and Brazil, for the trade fair and market strategy briefing sessions. South K date2022-10-12