Ministry of Trade, Industry and Energy

Korea maintains No.1 Shipyard position in July

The Ministry of Trade, Industry and Energy (MOTIE) announced on August 10 that South Korea maintained its dominant position in global shipbuilding (following 1st place for first half of 2022), winning 55 percent (19 vessels amounting to 1.16 million CGT) of world’s total orders in July. In July, bid orders for a total of 72 vessels amounting to 2.11 million CGT ($5.3 billion) were opened in the July global market. The types of vessels consisted of 17 container ships (small-to-medium), 16 date2022-08-11

Korea's ICT exports shrink 0.7% in July, but still achieve trade surplus

The Ministry of Trade, Industry and Energy (MOTIE) announced on August 11 that exports of Korea’s information and communications technology (ICT) goods decreased 0.7 percent to USD 19.3 billion in July.Imports gained 16.8 percent to $13.2 billion, but ICT trade still achieved a trade surplus of $6.1 billion despite less operating days (one less) in comparison with those of 2021. Average daily ICT exports advanced to a record-breaking $820 million. ICT exports performance of small and mid date2022-08-11

Minister Lee holds conference for nuclear energy industry revival

Trade, Industry and Energy Minister Lee Chang-yang visited PK Valve located in Changwon in South Gyeongsang Province on August 10 to hold a Nuclear Energy Industry Conference to discuss business support measures for revitalizing the industry ecosystem.   The Minister presided the conference and discussed measures for preproduction and funding measures. He also attended the MOU signing ceremony of Korea Hydro & Nuclear Power (KHNP), Doosan Enerbility, and nuclear energy industry’ date2022-08-11

Minister Lee holds conference for nuclear energy ecosystem revitalization

Trade, Industry and Energy Minister Lee Chang-yang visited Changwon in South Gyeongsang Province on August 10 to hold a Nuclear Energy Industry Business Conference (hereinafter “Conference”) and to give an update on progress thus far following the previous conference held on June 22. The Conference involved an MOU signing ceremony between Korea Hydro & Nuclear Power (KHNP), Doosan Enerbility, and nuclear energy industry’s equipment and materials manufacturers for the goal date2022-08-11

Korea and U.S. co-host Standards Forum 2022

The Korean Agency for Technology and Standards (KATS), affiliated under the Ministry of Trade, Industry and Energy (MOTIE), co-hosted the 2nd Korea-U.S. Standards Forum (hereinafter “Standards Forum”) with the American National Standards Institute (ANSI) on August 9 in Washington, D.C. Held subsequent to the Northeast Asia Standards Cooperation Forum held in June earlier this year, the Standards Forum concentrated on discussions covering quantum technology, next-generation semi date2022-08-09

2nd Vice Minister visits radioactive waste disposal facilities

Trade, Industry and Energy 2nd Vice Minister Park Il-jun visited Korea Radioactive Waste Agency (KORAD)’s low- and intermediate-level radioactive waste disposal facilities located in Gyeongju on August 8 to receive a briefing on operation status of high-level radioactive waste and to inspect facilities management.   Vice Minister Park received the briefing from KORAD President Cha Sung-su and remarked that “the utmost basis of nuclear power policies should be safety,” an date2022-08-09

Korea and Lithuania hold talks on bilateral cooperation

Deputy Trade Minister Jeong Dae-jin met with Lithuania's Vice Economy Minister Jovita Neliupsiene at the Government Complex Seoul on August 4 and exchanged views on Korea-Lithuania economic cooperation and other industries like laser and bio. He also requested Lithuania’s interest in and support for Busan’s hosting of World EXPO 2030. date2022-08-05

1st Vice Minister attends 1st Business Realignment & Financial Policies Strategy Meeting

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the 1st Business Realignment & Financial Policies Strategy Meeting held at the Korea Chamber of Commerce and Industry (KCCI) on August 3 to assess outcomes related to the launching of the Business Realignment Comprehensive Support Center for one-stop services.   The Vice Minister gave opening remarks and participated in the signboard hanging ceremony to celebrate the launching of the center.   The meeting was date2022-08-05

Trade Minister presides Korea-China Trade Strategy Consultation Meeting

Trade Minister Ahn Duk-geun presided the Korea-China Trade Strategy Consultation Meeting on August 3 at the Korea Chamber of Commerce and Industry (KCCI) to discuss trade cooperation and imbalance countermeasures.   The meeting was attended by approximately 10 experts in diplomacy and economics, including LG Economics Research Institute economist Kim Hyung-joo, Korea Institute for International Economic Policy (KIEP) Director Hyun Sang-baek and Korea Institute of Finance Senior date2022-08-05

MOTIE holds 1st World EXPO 2030 Busan Delegation Meeting

Yoon Sang-jik, the Secretary-General for the Bid Committee for World EXPO 2030 Busan (hereinafter “Committee”), expanded its World Expo 2030 Busan advisory committee into a delegation of eight members on August 4 and launched its first meeting. The aim of this reorganization is to reinforce promotion to BIE (Bureau International des Expositions) member states.   Secretary-General Yoon stated that the “Committee has appointed professionals of various fields as delegation date2022-08-05