Ministry of Trade, Industry and Energy

FDI pledged to Korea in Q3 surpass $20 billion

The Ministry of Trade, Industry, and Energy announced on October 5 that foreign direct investments (FDIs) pledged to Korea in the third quarter of this year jumped 18.2 percent year-on-year to USD 21.5 billion, the first time to enter the 20 billion thresholds. The FDIs arrivals in Korea over the same period contracted 6.7 percent to $11.2 billion. In spite of investment uncertainties like global inflation and interest rate hikes, investment pledges to Korea for the third quarter surpassed $20 date2022-10-05

Korea and Germany hold 2nd meeting on industrial cooperation

The Ministry of Trade, Industry and Energy's Deputy Minister for the Office of Industrial Policy Joo Young-joon attended the “2nd ROK-Germany Meeting of the Industry Working Group of MOTIE and BWMK (Germany’s Ministry for Economic Affairs and Climate Action)” held on September 30 at the Korea Chamber of Commerce and Industry (KCCI) to discuss the U.S.’ Inflation Reduction Act (IRA), supply chain crisis and decarbonization strategies with German counterparts, including BWM date2022-10-05

2nd Vice Minister attends hydrogen charging station completion ceremony

Trade, Industry and Energy 2nd Vice Minister Park Il-jun attended the Samcheok Gyo-dong Hydrogen Charging Station Completion Ceremony on September 30, held for promotion of hydrogen supply to the Gangwon Province area and partook in the ribbon-cutting ceremony.   Vice Minister Park gave a congratulatory message, assessing that “this completion will assure a more stable hydrogen supply for this region, while also solidifying the hydrogen economy base, including expanded supply of hyd date2022-10-04

2nd Vice Minister attends Jeju Green Hydrogen Demonstration Project Launching Ceremony

Trade, Industry and Energy 2nd Vice Minister Park Il-jun attended the “Jeju Green Hydrogen Demonstration Project Launching Ceremony” on September 29 to congratulate Korea’s first 10MW (minimum) large-scale green hydrogen demonstration project and announcement of Jeju green hydrogen global hub establishment plan.   Vice Minister Park remarked that “this is Korea’s first large-scale green hydrogen demonstration project and is a critical foundation in the water date2022-10-04

1st Vice Minister attends Industrial Complex Digital Control Center Opening Ceremony

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the Gwangju High-Tech Industrial Complex Digital Control Center Opening Ceremony on September 28 and congratulated the launching of the prevention system for water disasters and fires amid recent heavy rains and typhoons that caused damage across industrial complexes.   The event was attended by approximately 20 persons, including Gwangju Deputy Mayor Kim Gwang-jin, Korea Industrial Complex Corporation Chairman Kim Jeong date2022-10-04

Korea's exports grow 2.8% in September

The Ministry of Trade, Industry and Energy announced on October 1 that Korea’s exports in September increased 2.8 percent to USD 57.5 billion, a historic high for the month of September. Korea’s exports have risen for 23 consecutive months since November 2020 amid the Russia-Ukraine war and sluggish global economy. The growth, albeit having receded to single-digit growth since June, is meaningful as it was achieved despite the high base effect of last year’s record-breaki date2022-10-04

Korea and Germany hold Industry Working Group Meeting

The Ministry of Trade, Industry and Energy's Deputy Minister for the Office of Industrial Policy Joo Young-joon attended the “2nd ROK-Germany Meeting of the Industry Working Group of MOTIE and BWMK” held on September 30 at the Korea Chamber of Commerce and Industry (KCCI) to discuss U.S.’ IRA, supply chain crisis and decarbonization strategies with German counterparts, including Germany's Ministry of Economic Affairs and Climate Action Industrial Policy Director General Bernhar date2022-09-30

Trade Minister holds conference regarding U.S.’ bio executive order

Trade Minister Ahn Duk-geun presided the “Public-Private Joint Conference on Countermeasures to U.S.’ Bio Executive Order” on September 26 at the Korea Chamber of Commerce and Industry (KCCI) in Seoul with relevant ministries and industry representatives to discuss Korea’s response measures.   The meeting was attended by relevant ministries including the Ministry of Foreign Affairs (MOFA) and Ministry of Economy and Finance (MOEF), as well as representatives from r date2022-09-30

Minister holds 2nd Nuclear Energy Exports Strategy Committee Meeting

Trade, Industry and Energy Minister Lee Chang-yang held the 2nd Nuclear Energy Exports Strategy Committee (hereinafter “Committee”) Meeting on September 29 at the Seoul Garden Hotel. Headed by the Trade, Industry and Energy Minister, the Committee was first launched in August this year to foster competitiveness of Korea’s nuclear and related industries and support their market penetration overseas. It is a nuclear energy exports control tower consisting of 30 nuclear industry date2022-09-30

MOTIE and European nations' Ambassadors to Korea discuss cooperation

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin attended a conference to discuss ROK-EU industrial and energy cooperation measures with European nations' ambassadors to South Korea.   A total of 18 European countries’ ambassadors attended the event, including the Ambassador of the European Union to the Republic of Korea Maria Castillo Fernandez, Ambassador of the Czech Republic to the Republic of Korea Gustav Slamečka and Ambassador of the French Rep date2022-09-29