Ministry of Trade, Industry and Energy

Minister Sung meets with system semiconductor industry representatives

Trade, Industry and Energy Minister Sung Yunmo attended the launching ceremony for the Semiconductor IP (Intellectual Property) Utilization Support Program and met with system semiconductor industry representatives to discuss future policy directions on February 16.   Under the Support Program, Korea’s fabless companies will have access to semiconductor IP at discounted prices and online consulting on how to best utilize semiconductor IP, which will help domestic SMEs and startups t date2021-02-16

Korea's automobile industry posts double-digit growth in output, domestic sales, and exports in January

The Ministry of Trade, Industry and Energy announced on February 15 that Korea’s automobile output, domestic sales, and exports in January all experienced double-digit increases and went up 24.9 percent, 18.4 percent, and 29.5 percent, respectively. Total automobile output in January by Korean automakers climbed up 24.9 percent to 314,190 units. Productions normalized after collective wage bargaining settlements were reached, and increases in domestic sales and exports led to an expansion date2021-02-15

South Korea claims top spot in 2020 global shipbuilding orders

South Korea claims top spot in 2020 global shipbuilding orders date2021-02-10

Exports of Korean ICT goods grow 21.7% to $16.3 billion in January

The Ministry of Trade, Industry and Energy announced on February 10 that Korean exports of information and communications technology (ICT) goods in January expanded 21.7 percent to USD 16.3 billion, the second highest export value for the month of January. Imports of ICT products grew 21.7 percent to $10.7 billion, and the trade balance stood at a surplus of $5.6 billion. Exports of all major items experienced year-on-year increases. Chip exports climbed up 20.5 percent to $8.8 billion and in date2021-02-10

Vice Minister Park encourages petrochemical industry’s commitment to go carbon neutral

Trade, Industry and Energy Vice Minister Park Jin-kyu (second from the left) made a visit to the research site for thermal degradation of waste plastics at SK Institute of Technology Innovation in Daejeon, on February 9, and attended the launching ceremony for the petrochemical industry’s committee on the zero-carbon goal.   Vice Minister Park said that the government will actively support the petrochemical industry’s carbon neutral drive with large-scale R&D projects sinc date2021-02-10

Trade Minister visits logistics site ahead of Lunar New Year holidays

Trade Minister Yoo Myung-hee made an on-site visit to Uiwang Inland Container Depot in Uiwang, Gyeonggi Province, on February 8, to encourage logistics workers ahead of the Lunar New Year holidays.   Trade Minister Yoo mentioned that the government will expand and reform the Import-Export Logistics Response Center and put together policy efforts with related industries for the digital transformation of logistics for imports and exports. date2021-02-09

Minister Sung visits hydrogen fuel cell power plant in Seosan

Trade, Industry and Energy Minister Sung Yunmo (fourth from the right) made an on-site visit to Daesan Green Energy, a local byproduct hydrogen fuel cell power plant located in Seosan, Chungnam, on February 8, to encourage the leading players working for Korea’s carbon neutral goal.   Korea’s supply of hydrogen fuel cell power amounted to 605MW by the end of 2020, and the country has become the largest fuel cell power generation market, accounting for 43 percent of the total g date2021-02-08

Minister Sung attends MOU signing ceremony for New Deal investment cooperation

Trade, Industry and Energy Minister Sung Yunmo attended a memorandum of understanding (MOU) signing ceremony for New Deal investment cooperation in the areas of future cars and industrial digitalization at the Hyundai EV Station in Seoul, on February 4.   The government and private investors including Hyundai Motor Group, the Korea Evaluation Institute of Industrial Technology (KEIT), and the Korea Institute for Advancement of Technology (KIAT) will invest a total of 200 billion won to th date2021-02-04

Trade Minister Yoo meets with foreign investment representatives to discuss FDI policies

Trade Minister Yoo Myung-hee (center) attended a New Year meeting hosted by the Korea Foreign Company Association (FORCA) on February 3, and met with representatives from foreign chambers of commerce and investment companies to discuss the 2021 policy direction for foreign direct investments.Trade Minister Yoo mentioned that in line with Korea’s New Deal projects, the government will develop strategies to work together with foreign companies with key technological and human resources in th date2021-02-04

Minister Sung encourages steel industry’s commitment to go carbon neutral

Trade, Industry and Energy Minister Sung Yunmo (fourth from the right) attended the launching ceremony for the Green Steel Committee at the Seoul POSCO Center on February 2, and encouraged the steel industry’s announcement of a joint statement to go carbon neutral by 2050. Minister Sung said that the Ministry will support the private sector’s participation in the carbon neutral initiative by establishing a special act to accelerate transition to a carbon neutral industrial structure date2021-02-02