Ministry of Trade, Industry and Energy

Korea, Spain to expand green, digital partnerships

Issued on: June 16, 2021   During President Moon Jae-in’s visit to Spain (June 15-17), Korea and Spain agreed to strengthen business cooperation in the green and digital sectors at the Green & Digital Forum held in Madrid, on June 16 (local time).   President Moon proposed that the two countries ramp up investments in renewable energy and green mobility, encourage digital cooperation to improve industrial competitiveness, and expand partnership in construction and infrast date2021-06-17

MOTIE to support global market entry of middle-market enterprises

Trade, Industry and Energy Vice Minister Park Jin-kyu attended a launching ceremony for the business club organized to help domestic middle-market enterprises enter the global market, on June 15. The Ministry selected 50 middle-market enterprises to begin with, and plans to discover 300 companies by 2024 to support local businesses with overseas marketing strategies, export infrastructure, and cooperation network to encourage global expansion. date2021-06-15

Korea’s ICT industry exports $17.7 billion worth of goods in May

The Ministry of Trade, Industry and Energy announced on June 14 that Korea’s information and communications technology (ICT) industry exported $17.7 billion (up 27.4 percent) worth of goods in May. Imports climbed up 17.7 percent to $10.5 billion, and the trade balance was a surplus of $7.2 billion. Outbound shipments of all major products experienced growth. Semiconductor exports advanced 24.0 percent to $10.1 billion, hitting the $10.0 billion mark in 30 months. Memory chips went up 1 date2021-06-14

Auto exports in May expand 57.5%

The Ministry of Trade, Industry and Energy announced on June 11 that Korea’s automobile output and exports in May grew 10.9 percent and 57.5 percent, respectively. Meanwhile, domestic sales contracted 10.1 percent. The number of vehicles produced by Korean automakers went up 10.9 percent to 256,272 units. The growth in automobile production was mostly attributable to a significant increase in outbound shipments. Over the same period, exports jumped 57.5 percent to 150,894 units. The bas date2021-06-14

Petroleum products rebound; Korea reaches all-time high April exports

Petroleum products rebound; Korea reaches all-time high April exports date2021-06-11

Minister Moon discusses carbon neutrality with state-run utility firms

Trade, Industry and Energy Minister Moon Sungwook (center) visited the Korea Electric Power Corporation (KEPCO) headquarters, on June 10, and met with representatives from state-run utility firms to discuss response measures for the country’s commitment to go carbon neutral by 2050. Minister Moon emphasized the need for comprehensive innovation across the energy sector and urged the state-run utilities to play a leading role in achieving carbon neutrality by establishing a sustainable syst date2021-06-10

Minister Moon attends Steel Day commemoration event

Trade, Industry and Energy Minister Moon Sungwook attended the 22nd Steel Day commemoration event at the POSCO Center in Seoul, on June 9, and discussed pending issues in the domestic steel industry with experts. The government and the industry agreed to work closely together to stabilize supply and demand for steel and strengthen the industry’s competitiveness by preparing for the carbon neutral era. date2021-06-09

Trade Minister Yoo holds committee meeting with trade officials

Trade Minister Yoo Myung-hee (second from the right) held a committee meeting with trade officials at the government complex in Sejong, on June 9, to discuss issues such as the WTO vaccine intellectual property waiver. date2021-06-09

Minister Moon meets with local battery makers at industry fair

Trade, Industry and Energy Minister Moon Sungwook visited InterBattery 2021, a three-day industry exhibition showcasing next-generation battery products and technologies held in Seoul, on June 9, and met with local battery makers afterwards.   Minister Moon promised active support for domestic companies amid fierce competition in the global electric vehicle battery market. date2021-06-09

Trade Minister Yoo meets with APEC ministers

Trade Minister Yoo Myung-hee attended a virtual meeting of Asia Pacific Economic Cooperation (APEC) ministers, on June 5, and the ministers agreed to join efforts to overcome COVID-19 and support the rules-based multilateral trading system.   Trade Minister Yoo said that Korea will make active contributions to accelerate the distribution of COVID-19 vaccines using its biopharmaceutical production capability, and emphasized APEC’s role in the discussion of environmental goods and ser date2021-06-07