Ministry of Trade, Industry and Energy

Korea's retail industry grows 9.3% in H1 2022

The Ministry of Trade, Industry and Energy (MOTIE) announced on July 28 that Korea’s overall retail sales in the first half of 2022 increased 9.3 percent. Offline and online retailers gained 8.4 percent and 10.3 percent, respectively. Retail sales for the month of June increased 9.2 percent, with both offline and online retailers experiencing growth, up 9.3 percent and 9.1 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. Th date2022-07-28

19th Korea-ASEAN FTA Implementation Committee Meeting

The Ministry of Trade, Industry and Energy (MOTIE) held the 19th Korea-ASEAN FTA Implementation Committee Meeting on July 27 to discuss the furthering of free trade agreements (FTAs) and new trade order issues. MOTIE was represented by a 12-member delegation consisting of officials from relevant ministries and institutions, including MOTIE, the Ministry of Economy and Finance (MOEF), Ministry of Foreign Affairs (MOFA) and the Korea Customs Service (KCS). The ASEAN delegation was composed of r date2022-07-28

Trade Minister attends IPEF Ministerial Meeting

Trade Minister Ahn Duk-geun attended the Indo-Pacific Economic Framework (IPEF) Ministerial Meeting on July 26-27 via videoconferencing, which was co-hosted by U.S. Trade Representative (USTR) Katherine Tai and U.S. Secretary of Commerce Gina Raimondo, to exchange viewpoints prior to actual negotiations. The meeting was attended by ministerial-level officials of fourteen countries: South Korea, the U.S., Japan, Australia, New Zealand, Vietnam, Brunei, India, Indonesia, Malaysia, Philippines, Si date2022-07-27

2nd Vice Minister visits Korea Power Exchange

Trade, Industry and Energy 2nd Vice Minister Park Il-Jun visited the Korea Power Exchange (KPX) in South Jeolla Province on July 24 to inspect the power supply situation prior to midsummer, where he received a briefing from KPX Chairman Jung Dong-hee and encouraged the employees for their contribution to power supply stabilization. date2022-07-27

Minister Lee attends semiconductor industry conference

Trade, Industry and Energy Minister Lee Chang-yang attended the semiconductor industry conference at Dongjin Semichem plant in Gyeonggi-do on July 21 to announce the semiconductor superpower strategy and hold the industry-academia cooperation infrastructure MOU signing ceremony.   In his opening message, Minister Lee relayed that battery, display, future mobility, robot, bio and such promising new industries will be grouped together as “semiconductor-plus industry,” and that m date2022-07-27

2nd Vice Minister holds conference on energy demand streamlining

Trade, Industry and Energy 2nd Vice Minister Park Il-Jun presided the inter-industrial conference on streamlining energy demand on July 21 at the Korea Chamber of Commerce and Industry (KCCI) to gather opinions from various industries on energy demand efficiency improvement and to discuss summer power supply response measures, noting that industries take up 62 percent of total energy consumption.   The conference was attended by approximately 20 relevant representatives, including Korea E date2022-07-26

Minister Lee attends ceremony marking world's 1st 3nm chip shipment

Trade, Industry and Energy Minister Lee Chang-yang attended the ceremony held at Samsung Electronics Hwaseong Campus on July 25 to mark the first shipment of 3-nanometer chips and congratulated the historic milestone, ensuring government support in line with the Ministry’s recently announced national semiconductor powerhouse strategy. Samsung Electronics’ accomplishment is meaningful in that the 3-nanometer semiconductor mass production is a global first, a step faster than even the date2022-07-26

426th Korea Trade Commission gives preliminary determination on anti-dumping investigations

The Ministry of Trade, Industry, and Energy (MOTIE) held the 426th Korea Trade Commission (hereinafter “Commission”) meeting on July 21, where Chairperson Chang Seung-wha announced a positive preliminary determination on anti-dumping investigations on imports of polyamide film from China, Thailand and Indonesia, as well as aluminum hydroxide from China and Australia, and proposed the imposing of provisional duties. First of all, the Commission determined that the amount of evidence date2022-07-26

Trade Minister attends Supply Chain Ministerial Meeting 2022

Trade Minister Ahn Duk-geun attended the Supply Chain Ministerial Meeting 2022 on July 20 with South Korea’s Foreign Minister Park Jin, which was co-hosted by U.S. Secretary of State Antony Blinken and Secretary of Commerce Gina Raimondo to discuss measures for enhancing global supply chain resilience and to adopt a joint statement. Convened via videoconferencing, the meeting was attended by ministers of the EU and 17 countries: South Korea, the U.S., Japan, France, Germany, Italy, date2022-07-21

MOTIE holds Hydrogen Economy Investment Stimulation Conference

Trade, Industry and Energy 2nd Vice Minister Park Il-Jun presided the Hydrogen Economy Investment Stimulation Conference on July 20 at the Lotte Hotel Seoul to share the new regime’s hydrogen economy policies and gather opinions from private equity firms to bolster hydrogen industry competitiveness.   In his opening message, the 2nd Vice Minister stated that “South Korea’s new regime’s energy policies envision a strong energy system through climate change response, date2022-07-20