Ministry of Trade, Industry and Energy

MOTIE awards contributors at 19th Shipbuilding & Offshore Korea 2022

The Ministry of Trade, Industry and Energy's Deputy Minister for the Office of Industrial Policy Joo Young-joon attended the 19th Shipbuilding & Offshore Korea 2022 ceremony and awarded 34 awardees to acknowledge their contributions to achieving the world’s first autonomous collision avoidance navigation system demonstration.   Deputy Minister Joo gave a congratulatory message for the achievements contributing to the abovementioned technology demonstration, and attended the MOU date2022-09-16

Minister holds Energy Innovation Startup Business Roundtable

Trade, Industry and Energy Minister Lee Chang-yang presided the Energy Innovation Startup Business Roundtable on September 15 at Korea Technology Center in Seoul to facilitate discussions on government support measures for innovative energy startups, investment, deregulation and startup nurturing. The roundtable was attended by Korea Institute of Energy Technology Evaluation and Planning (KETEP) Kweon Ki-yeoung, Energy X CEO Sean Park, and Terralix CEO Kim Tae-young among other representatives. date2022-09-16

Minister holds 1st Energy Policy Consultation Committee Meeting

Trade, Industry and Energy Minister Lee Chang-yang held the 1st Energy Policy Consultation Committee Meeting on September 16 where he gathered experts’ opinions on global energy supply crisis countermeasures. Amid the rapidly changing energy market landscape, protracted Russia-Ukraine war and the energy policy directions announced in July that are to be implemented under the new regime, the need for preemptive mid-to-long term policy tasks and active communication with experts has been co date2022-09-16

Korea's auto exports expand 29.1% in August

The Ministry of Trade, Industry and Energy announced on September 16 that Korea’s automobile production, domestic sales, and exports all increased in August by 21.0 percent, 1.0 percent and 29.1 percent, respectively. Automobile output in August surged 21.0 percent to 284,361 units owing to partial recovery of parts supply chain and previous year’s base effect. Domestic sales inched up 1.0 percent to 131,638 units, with higher demand for imported models. Domestic brands suffered a date2022-09-16

Korea's ICT exports decline 4.6% in August

The Ministry of Trade, Industry and Energy announced on September 16 that exports of Korea’s information and communications technology (ICT) goods decreased 4.6 percent to USD 19.3 billion in August. Imports recorded year-on-year growth of 18.7 percent to $13.5 billion, and the trade balance stood at a deficit of $9.5 billion. Shipments of most major ICT products declined as demand for ICT goods shrank worldwide. Those of semiconductors dropped 6.8 percent to $11.0 billion, falling for date2022-09-16

MOTIE announces Energy Innovation Startup Development Measures

Trade, Industry and Energy Minister Lee Chang-yang visited the vanadium ion battery (VIB)-based electric vehicle (EV) charging station demonstration site operated by Standard Energy, and presided the Energy Innovation Business Roundtable at Korea Technology Center in Seoul, where he announced the Ministry’s Energy Innovation Startup Development Measures (hereinafter “Development Measures”). Standard Energy, located in Daejeon, is a company recognized for its VIB technology wit date2022-09-15

Trade Minister to attend ASEAN meetings in Cambodia

Trade Minister Ahn Duk-geun will be attending the 19th ASEAN Economy Ministers’ Meeting, the 25th ASEAN+3 Meeting, the 10th East Asia Summit (EAS) Ministers’ Meeting and the Regional Comprehensive Economic Partnership (RCEP) Ministers’ Meeting through September 16-18 held in Siem Reap, Cambodia. Key objectives of these meetings are to bolster economic cooperation with ASEAN partners in the Indo-Pacific region, expand trade and investments opportunities in the East Asian region date2022-09-15

Minister presides 40th Industrial Technology Protection Committee Meeting

Trade, Industry and Energy Minister Lee Chang-yang presided the 40th Industrial Technology Protection Committee Meeting on September 14 at the Korea Chamber of Commerce and Industry (KCCI) in Seoul to discuss automobile exports permit approval and other agenda items.   The meeting was attended by government officials and approximately 30 relevant persons, including Seoul National University Professor Lee Hyuk-jae and SL Bigen CEO Ahn Mi-chung.   date2022-09-14

MOTIE holds Busan-Ulsan-Gyeongnam Investment Help Desk Conference

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided the Busan-Ulsan-Gyeongnam Investment Help Desk Conference on September 14 at the Ulsan Exhibition and Convention Center (UECO) to discuss companies’ challenges in local investment and countermeasures.    He gave an opening message, stating that “the Ministry is currently pushing a swift and bold innovation program for deregulation,” adding that allowing private sectors the freedom and creativity th date2022-09-14

2nd Vice Minister visits Incheon LNG Terminal

Trade, Industry and Energy 2nd Vice Minister Park Il-jun visited on September 8 the Korea Gas Corporation (KOGAS)’s Incheon LNG Terminal, which is the world’s largest LNG terminal and supplies 35% of domestic LNG, for a company briefing and facilities inspection.    The 2nd Vice Minister received a briefing on the company’s operation status from KOGAS executive Seong Young-gyu and gave an opening message, urging for “thorough monitoring in view of prolonged Ru date2022-09-13