Ministry of Trade, Industry and Energy

Korea and Australia sign MOUs on critical minerals and supply chain

Energy Vice Minister Park Ki-young attended the 1st Critical Minerals Working Group Meeting held in Canberra, Australia on February 24 to discuss the two countries’ bilateral cooperation on critical minerals and supply chain. At the meeting, Vice Minister Park delivered opening remarks and exchanged views with Australian counterparts on Korea-Australia critical minerals strategy and R&D cooperation measures. He also attended the signing ceremony of 6 MOUs between the two countries&rsq date2022-02-28

Trade Minister holds gathering with ambassadors to Korea

Trade Minister Yeo Han-koo presided a gathering with ambassadors to Korea on February 24 at the Lotte Hotel Seoul for fostering talks on strengthening raw materials supply chain partnerships in light of the recent Russia-Ukraine crisis. Minister Yeo gave an opening message in which he introduced supply-demand stabilization measures regarding economic security items in preparation against possible raw materials supply setbacks amidst the Ukraine situation. He also participated in an exchange o date2022-02-28

MOTIE holds 25th Trade Committee Meeting

Trade Minister Yeo Han-koo held the 25th Trade Committee Meeting in Government Complex Seoul on February 24 in the presence of relevant ministries’ officials in order to assess the economic impact from the current Russia-Ukraine crisis and push prompt measures in response to the changing Asia-Pacific trade landscape.   The trade chief delivered an opening message, in which he addressed the current military tension buildup and need for an overall monitoring of trade and commerce envi date2022-02-28

MOTIE signs MOU for Gunsan shipyard re-operation

Trade, Industry, and Energy Minister Moon Sung-wook visited the Hyundai Heavy Industries Gunsan Shipyard on February 24 to attend the shipyard’s re-operation MOU signing ceremony. During the Minister’s visit, an MOU was signed for the re-operation of the Hyundai Heavy Industries Gunsan Shipyard, which had halted operations in 2017 against the headwinds of the 2008 global financial crisis and the dry season of 2016 when orders hit rock bottom. In the recent wake of the global shipbui date2022-02-25

Korea and Indonesia sign MOUs for expanding supply chain cooperation

Trade, Industry, and Energy Minister Moon Sung-wook visited Jakarta, Indonesia through 20-22 of February to hold the Korea-Indonesia Business Forum and raw materials supply chain cooperation with his Indonesian counterparts. One of the goals of this visit was to review the progress made so far since President Moon Jae-in’s state visit in 2017, during which Indonesia expressed commitment to the New Southern Policy. Moreover, the meeting was substantial as it strengthened the cooperation ba date2022-02-24

MOTIE holds Meeting on Russia-Ukraine Crisis Impact on Major Businesses & Exports

Trade Minister Yeo Han-koo presided the “Russia-Ukraine Crisis Impact Assessment on Major Businesses & Exports' meeting on February 22 at the K-Sure headquarters in Seoul in light of the recent geopolitical situation. This meeting was convened for the purpose of assessing repercussions from the current Russia-Ukraine conflict escalation on Korea’s businesses and exports, and to provide exports stimulus through support measures. Minister Yeo discussed future import and export pro date2022-02-23

Minister Moon attends Dialogue with Foreign-Invested Companies

Trade, Industry, and Energy Minister Moon Sung-wook attended the Dialogue with Foreign-Invested Companies presided by President Moon Jae-in at the Blue House on February 17, where representatives of Chambers of Commerce, foreign-invested companies, government officials, and Korea Trade-Investment Promotion Agency (KOTRA) gathered under the theme of “K Dream,” promoting win-win growth of Korea’s economy and foreign-invested companies. The event was convened amidst Korea’s date2022-02-22

Korea and Indonesia sign MOU on “Cooperation of Critical Minerals”

Trade, Industry, and Energy Minister Moon Sung-wook held talks with Indonesia’s Energy and Mineral Resources Minister Arifin Tasrif in Jakarta on February 21, where the two countries signed the Korea-Indonesia MOU on “Cooperation of Critical Minerals.”   During the meeting, the two Ministers shared views on bilateral cooperation across various areas, including core minerals like nickel and rare earth elements, LG Energy Solution Grand Package (mineral lot), electric date2022-02-22

MOTIE leads public-private joint efforts amid global chip race

Trade, Industry, and Energy Minister Moon Sung-wook attended the Semiconductor Investment Promotion Conference at the Lotte Hotel Seoul on February 16, held to strengthen the semiconductor industry supply chain and bring about an innovation across Korean companies’ competitiveness landscape. Addressing the rising uncertainties in view of the recent supply chain realignment, Russia-Ukraine geopolitical risk, raw materials price surge, and natural disasters from climate change, attendees ag date2022-02-21

MOTIE aims to achieve both “quarantine” and “economy” through BCP

Trade, Industry, and Energy Minister Moon Sung-wook visited the Jusung Engineering R&D Center located in Yongin-si, Gyeonggi-do on February 17 in order to inspect domestic companies’ Omicron response quarantine conditions. Jusung Engineering is a mid-sized producer of semiconductors, displays, and solar cells, employing 536 workers and having generated KRW 236 billion in sales revenue as of Q3 2021. The visit was made in recognition of the growing importance of companies’ pand date2022-02-21