Ministry of Trade, Industry and Energy

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

Korea's exports gain 15.6% in first half of 2022

The Ministry of Trade, Industry and Energy announced on July 1 that Korea’s exports in the first half of 2022 increased 15.6 percent, reaching USD 350.3 billion. Imports went up 26.2 percent to $360.6 billion, resulting in a trade deficit of $10.3 billion. For the month of June, Korea’s exports amounted to $57.7 billion, expanding 5.4 percent from last year. Imports jumped 19.4 percent to $60.2 billion. The trade balance stood at a deficit of $2.5 billion. Exports hit the highest date2022-07-01

Minister Lee visits Poland to further nuclear and energy cooperation

Trade, Industry and Energy Minister Lee Chang-yang visited Poland on June 30 to discuss nuclear power, defense and high-tech bilateral collaboration with Anna Moskwa, Minister of Climate and Environment and Ryszard Terlecki, the Parliamentary Caucus Head of the Law and Justice party. Minister Lee’s Poland visit is on the heels of President Yoon’s June 29 visit and promotion of South Korea’s nuclear power development capacity. Minister Lee’s visit was accompanied by the D date2022-07-01

Minister Lee visits Poland to further nuclear and energy cooperation

Trade Minister Lee Chang-yang visited Poland through June 30 to July 1 to discuss Korea-Poland nuclear cooperation with various counterparts on the occasion of Korean Nuclear and High-Tech Day 2022 and bilateral nuclear cooperation MOU signing ceremony both held at the Sheraton Warsaw Hotel on June 30.   Minister Lee met with Anna Moskwa, Poland’s Minister of Climate and Environment and discussed defense and high-tech, including EVs, hydrogen, battery and CCUS (carbon capture, utili date2022-07-01

MOTIE holds World Class 300 Project Merit Award 2022

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the World Class 300 Project Merit Award 2022 at the Four Seasons Hotel Seoul on June 29 to award certificates of merit to companies selected for World-Class 300.   In his congratulatory remarks, Vice Minister Jang stated that the World-Class Companies should be at the helm of growth in jobs and exports for other middle-market enterprises to follow. To this end, he assured that “the Government will bolster efforts t date2022-06-30