Ministry of Trade, Industry and Energy

Korea and Czech Republic discuss cooperation in nuclear power ecosystem

Trade, Industry and Energy Minister Lee Chang-yang visited the Czech Republic on June 28, his first overseas visit since taking office and held talks with Miloš Vystrčil, President of the Senate of the Parliament of the Czech Republic to discuss the two countries' collaboration in nuclear power projects and other areas.   In his opening remarks, Minister Lee relayed an update on the prime operation status of Korea’s nuclear power plants and exchanged views with the Sena date2022-06-30

Korea and Czech Republic hold talks on nuclear energy cooperation

Trade, Industry and Energy Minister Lee Chang-yang visited the Czech Republic on June 28, his first overseas visit since taking office on occasion of the “Korean Nuclear & High-Tech Day 2022,” and held talks with his counterpart Jozef Síkela, the Czech Industry and Trade Minister on bilateral cooperation in nuclear energy and other various areas. The Czech Republic launched a tender in March of this year of its nuclear power plant project, which aims for completion by 20 date2022-06-29

Korea's retail sales gain 10.1% in May

The Ministry of Trade, Industry and Energy announced on June 28 that Korea’s overall retail sales in May saw a year-on-year growth of 10.1 percent. Both offline and online sales surged, up 9.3 percent and 11.0 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. Thirteen of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, and four “super supermarket&rdqu date2022-06-29

Korea and Spain sign Industrial Technology and International Cooperation MOU

Hwang Soo-sung, Deputy Minister for MOTIE’s Office of Industry and Enterprise Innovation held talks with Spanish counterpart Teresa Riesgo, MICIN’s Secretary-General of Innovation on June 24 in Madrid, where they signed the Korea-Spain Industrial Technology and International Cooperation MOU and agreed to provide full mutual support in pursuing high-tech collaboration, carbon neutral and digital transition.    The event was attended by officials of both countries, includin date2022-06-27

Korea and Spain sign Industrial Technology and International Cooperation MOU

The Ministry of Trade, Industry and Energy (MOTIE) signed the Korea-Spain Industrial Technology and International Cooperation MOU with Spain’s Ministry for Science and Innovation (MICIN) on June 24 in Madrid, Spain. On occasion of this MOU, South Korea and Spain decided to deepen cooperation in areas like future automobiles and high-tech industries. This entails establishing bilateral R&D programs in addition to Eureka projects, and expanding the existing cooperation in nanomaterials date2022-06-27

Trade Minister holds 1st IPEF public-private strategy session

Trade Minister Ahn Duk-geun held the 1st Indo-Pacific Economic Framework (IPEF) public-private strategy session on June 23 at the Korea Chamber of Commerce and Industry (KCCI) in Seoul to share IPEF progress and discuss future directions with economic organizations and relevant experts.   The session was attended by various representatives and experts of relevant organizations, including KCCI Vice Chairman Woo Tae-hee, Cho Sang-hyun, Chief of Korea International Trade Association (KITA)&r date2022-06-27

MOTIE launches public-private IPEF joint strategy session

The Ministry of Trade, Industry and Energy (MOTIE) launched the Indo-Pacific Economic Framework (IPEF) public-private strategy group and held its first plenary session on June 23 at the Korea Chamber of Commerce and Industry (KCCI). A total of 14 countries are participants of the framework, including South Korea, the U.S., Japan, Australia, New Zealand, Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam, India and Fiji. The first meeting saw economic organizations, majo date2022-06-27

Korea-Saudi Ministers discuss energy cooperation

Trade, Industry and Energy Minister Lee Chang-yang held a videoconference with Saudi Arabia’s Energy Minister Prince Abdulaziz Bin Salman on June 23, on the occasion of the Saudi Minister’s congratulatory message for Minister Lee’s taking office. Minister Lee expressed his gratitude in return, then the two Ministers discussed energy supply chain stability, hydrogen and other future issues for Korea-Saudi energy cooperation. Noting how Saudi Arabia is South Korea’s large date2022-06-27

Minister Lee holds talks with Saudi's Energy Minister

Trade, Industry and Energy Minister Lee Chang-yang held a videoconference meeting with Prince Abdulaziz bin Salman, Saudi Arabia’s Energy Minister, on June 23 at the Government Complex Seoul to discuss expanding Korea-Saudi economic cooperation, stable crude oil sourcing and energy supply chain resilience. date2022-06-24

Minister Lee holds 25th Energy Commission meeting

Trade, Industry and Energy Minister Lee Chang-yang held the 25th Energy Commission meeting at the Plaza Hotel Seoul on June 23 to discuss energy efficiency policies to implement under the new regime.   In his opening remarks, Minister Lee mentioned the current internal and external signs of worldwide stagflation, noting that “Korea is vulnerable to global energy market volatility.' He went on to reveal that the new regime’s energy policy consists of two pillars: “su date2022-06-24