Ministry of Trade, Industry and Energy

2nd Vice Minister attends Korea H2 Business Summit Investor Day

Trade, Industry and Energy 2nd Vice Minister Park Il-jun attended the H2 Investor Day held at the Dongdaemun Design Plaza (DDP) on July 6 hosted by Korea H2 Business Summit. The Korea H2 Business Summit was launched voluntarily in September 2021 by 17 companies investing in the hydrogen value chain, some of which are Hyundai Motor, SK, POSCO and Samsung C&T. The hydrogen fund (hereinafter “summit fund”) launching was publicly officialized by the H2 Investor Day event, and a pu date2022-07-07

2nd Vice Minister attends “Power Generation Big Data Place

Trade, Industry and Energy 2nd Vice Minister Park Il-jun attended the “Power Generation Big Data Place Opening Ceremony” at the Korea Electric Power Corporation Research Institute (KEPRI) in Daejeon on July 4 to award orders of merit to those who contributed to the “Data Place” establishment.   In his congratulatory message, Vice Minister Park stated that the Power Generation Big Data Place not only lays the foundation for power industry’s digitalization but date2022-07-06

1st Vice Minister holds Industrial Digital Transformation Business Conference

Trade, Industry and Energy 1st Vice Minister Jang Young-jin presided the “Industrial Digital Transformation Business Conference” held July 5 at the LS Electric plant in Cheongju to discuss digital transitions across industry sectors and different businesses.   In his opening message, he urged large companies to “take charge in swiftly establishing their digital innovation ecosystem with middle-market companies and SMEs” and exchanged views regarding digital transfo date2022-07-06

Trade Minister holds 28th Trade Promotion Committee meeting

Trade Minister Ahn Duk-geun held the 28th Trade Promotion Committee meeting on July 5 at the Government Complex Sejong in the presence of eight relevant ministries to discuss the new regime’s new trade directions, Indo-Pacific Economic Framework (IPEF) implementation and climate change impact on trade and necessary countermeasures. In his opening remarks, Minister Ahn stated that his focus over the past three weeks had been on the 12th WTO Ministerial Conference (MC12), Korea-EU Trade Min date2022-07-06

Korea's new energy policies are announced

The Government held the 30th Cabinet meeting presided by President Yoon Suk-yeol on July 5 with participation of relevant ministries and laid out new energy policy goals and directions through a deliberation and resolution process. Amid the global push for carbon neutral, escalation of Russia-Ukraine conflict and global energy supply chain uncertainties, energy security and attaining carbon neutral goals are now more critical than ever. In response to these changes, it is imperative that new e date2022-07-05

Minister Lee attends Energy Efficiency Innovation 2022

Trade, Industry and Energy Minister Lee Chang-yang attended the kick-off ceremony for “Energy Efficiency Innovation with Citizens 2022” at Seoul City Hall on July 4, which was held under the slogan, “Net-Zero (NZ) Generation, Caring for Earth.”   Minister Lee delivered opening remarks and awarded “Energy Cashback” award certificates and plaques to households and apartments that succeeded in reaching energy reduction goals, followed by a signing ceremony date2022-07-05

Korea-ASEAN Dinner for promotion of World EXPO 2030 Busan

Trade Minister Ahn Duk-geun attended the “Korea-ASEAN Dinner in Honor of ASEAN SOM Leaders” to promote World EXPO 2030 Busan at the Shilla Seoul on July 1 and gave a welcoming message to the vice ministerial-level attendees from ten ASEAN member countries, including Brunei, Cambodia, Indonesia and the Philippines. date2022-07-05

2nd Vice Minister visits Sin-yangjae Substation

Trade, Industry and Energy 2nd Vice Minister Park Il-jun visited the Sin-Yangjae Substation on June 30 to inspect the stable supply of power companies.   In his opening remarks, Vice Minister Park stated that “the Government will do its best to secure alternate resources and stabilize demand as part of the plans announced for summer power supply management.” Noting that the Sin Yang-jae substation is central to stable power supply, he added that “a thorough inspection is date2022-07-04

"Special Act to Accelerate Industrial Digital Transformation" is enforced

The Ministry of Trade, Industry and Energy (MOTIE) announced plans to kick the Special Act to Accelerate Industrial Digital Transformation into high gear beginning July 5. The Act was legislated in January this year. This Act is meaningful in that it incorporates the utilization and protection principles concerning industrial data, rationale for comprehensive governmental support, inter-ministerial collaboration mechanism as well as in that it lays the legal grounds for pursuing industrial digi date2022-07-04

2nd Vice Minister visits gas station

Trade, Industry and Energy 2nd Vice Minister Park Il-jun visited the Altteul Gas Station located in Hwagok-dong, Gangseo-gu, Seoul on July 1, to encourage the station for having lowered their gas price immediately in accordance with recent additional oil tax cuts.   The Vice Minister received a briefing on station operation status from the station CEO and watched the tanker truck unloading process, then changed the price board to indicate that oil tax cuts have been factored in. &nb date2022-07-04