Ministry of Trade, Industry and Energy

Minister Moon visits Korea International Trade Association

Trade, Industry and Energy Minister Moon Sungwook visited the Korea International Trade Association (KITA), on May 27, to discuss with trade experts measures to resolve recent trade issues such as the global container shortage and soaring freight rates. Minister Moon encouraged KITA’s efforts in assisting domestic export firms to deal with challenges in the trade environment, and said that the government will expand policy support and communication with the industry to boost trade in the l date2021-05-27

Korea’s April retail sales rise 13.7%

The Ministry of Trade, Industry and Energy announced on May 27 that Korea’s retail industry saw a 13.7 percent improvement in sales in April compared to the same period last year. Both offline and online retailers saw growth, up 11.2 percent and 16.5 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 26 major retailers. Half of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, a date2021-05-27

Minister Moon encourages launch of integrated control center to ensure safety at industrial complexes

Trade, Industry and Energy Minister Moon Sungwook visited Incheon Namdong Industrial Complex, on May 26, and delivered a congratulatory speech to encourage the launch of an integrated control center at the smart green industrial complex. The integrated control center is a core component of the smart green industrial complex infrastructure that helps manage digitally safety, environment, and traffic issues within the industrial complexes to prevent accidents and ensure a comfortable working envir date2021-05-26

Korea, Indonesia to strengthen industrial cooperation

Trade, Industry and Energy Minister Moon Sungwook (center) met his Indonesian counterpart, Luhut Binsar Pandjaitan at a ministerial meeting in Seoul, on May 26, and discussed measures to expand bilateral cooperation and investment in industry and energy.   The ministers shared the view that it is important to expand trade and investment as well as industrial and energy cooperation between the two countries as global supply chain risks, digital transformation, and carbon neutral movement a date2021-05-26

Industry Ministry holds meeting to support materials, parts and equipment industries

Trade, Industry and Energy Minister Moon Sungwook attended a committee meeting to strengthen the competitiveness of the materials, parts and equipment sectors at the Seoul Government Complex, on May 25.   At the meeting, the committee members discussed various issues including measures to respond to the recent global supply chain disruptions regarding automotive chips and rare earth materials, foster special complexes for materials, parts and equipment, and bolster R&D investments in date2021-05-26

Korea, US agree on global vaccine partnership

During President Moon Jae-in’s visit to the United States (May 20-23), Korea and the U.S. agreed to establish a comprehensive “KORUS Global Vaccine Partnership” in a summit meeting on May 22, local time.   Under the partnership, the two countries are to join efforts to accelerate global COVID-19 vaccine production and supply by combining Korea’s biopharmaceutical production capability and the U.S. vaccine development technology and raw material supply capability. date2021-05-24

Minister of Trade, Industry and Energy Organizes Korea-US Business Roundtable During President Moon Jae-in’s US Visit

During President Moon Jae-in’s visit to the US (May 20-23), MOTIE Minister Moon Sung-wook (left) took steps to reinforce economic cooperation between the two countries, including the Korea-US Business Roundtable attended by President Moon and US Secretary of Commerce Gina Raimondo. date2021-05-22

Korean and US Leaders Agree to Co-Participate in Overseas Nuclear Markets

□ On May 21 (local time), the Presidents of Korea and the United States released a joint statement that Korea and the United States “commit to develop cooperation in overseas nuclear markets, including joint participation in nuclear power plant projects, while ensuring the highest standards of international nuclear safety, security, and nonproliferation are maintained.”   □ In addition, in the factsheet released with the joint statement, Korea and the United States announc date2021-05-22

Minister of Trade, Industry and Energy Organizes Korea-US Business Roundtable During President Moon Jae-in’s US Visit

During President Moon Jae-in’s visit to the United States (May 20-23), Minister of Trade, Industry and Energy Moon Sung-wook took steps to reinforce economic cooperation between the two countries, including the Korea-US Business Roundtable attended by President Moon Jae-in and United States Secretary of Commerce Gina Raimondo.➊ Minister Moon and Secretary Raimondo co-organized the Korea-US Business Roundtable attended by representatives of leading semiconductor, battery, automobile and v date2021-05-22

Minister Moon visits Korea Federation of SMEs

Trade, Industry and Energy Minister Moon Sungwook (left) visited the Korea Federation of SMEs, on May 17, as part of efforts to expand communication with economic organizations in the policymaking process.                                                 &nbsp date2021-05-17