Ministry of Trade, Industry and Energy

Minister Sung visits Korean electric bus maker to underscore Korea’s commitment to electric car industry

Trade, Industry and Energy Minister Sung Yun-mo (right) underscored the Korean government’s commitment to the electric car industry during his visit to an electric bus manufacturer located in Cheongju on February 19.After being briefed about the company summary and listening to the Korean electric car maker’s difficulties, Minister Sung took a closer look at its manufacturing process and encouraged the workers.During the visit, Minister Sung said that amid the growing proportion of e date2019-02-19

Trade Minister Kim meets with his Indonesian counterpart to resume talks on Korea-Indonesia CEPA

Trade Minister Kim Hyun-chong (left) met with Indonesian Minister of Trade Enggartiasto Lukita to officially resume talks on the Korea-Indonesia Comprehensive Economic Partnership Agreement (CEPA) at the 2019 Korea-Indonesia Business Forum held in Jakarta on February 19.During the forum, the two Ministers signed a joint statement on the official resumption of negotiations and discussed ways to step up economic cooperation in the age of the Fourth Industrial Revolution.The event was attended by s date2019-02-19

Industry Ministry, French Economy Ministry jointly host 5th forum on Innovative Industries 2019 in Seoul

Trade, Industry and Energy Vice Minister Cheong Seung-il (left) and France’s Minister of State for the Digital Sector Mounir Mahjoubi (right) attended the fifth Korea-France Forum on Innovative Industries 2019 jointly hosted by the Industry Ministry and the French Ministry for the Economy and Finance in Seoul on February 19.During his opening remarks, Vice Minister Cheong asked for joint efforts of the two countries to lead the technology paradigm of the future by engaging in digital-based date2019-02-19

Korean auto industry sees improvement in exports, production, and domestic sales in January

The Ministry of Trade, Industry and Energy announced on February 19 that the Korean automobile industry in January saw improvement in exports, production, and domestic sales.Automobile exports last month grew 12.6 percent year-on-year to 213,618 vehicles thanks to stronger sales of sports utility vehicles (SUVs) and eco-friendly cars in North America and Europe. In particular, outbound shipments of green cars soared 64.3 percent to 21,022 units.The number of domestic vehicles manufactured by sev date2019-02-19

Vice Minister Cheong meets with French Minister of State Mahjoubi to discuss industrial cooperation

Trade, Industry and Energy Vice Minister Cheong Seung-il (left) met with France’s Minister of State for the Digital Sector Mounir Mahjoubi to discuss industrial and economic ties between Korea and France in Seoul on February 19.At the meeting, Vice Minister Cheong talked about bolstering bilateral cooperation in new industries, including their trade and investment, and in the hydrogen economy that would see more hydrogen-powered vehicles on the road. date2019-02-19

Trade Minister Kim discusses changing trade conditions with commercial attaches

Trade Minister Kim Hyun-chong (center) discussed changing trade conditions and measures necessary to respond to them with Korean commercial attaches at the Sejong Government Complex on February 13.During the discussion, Trade Minister Kim underscored that protectionism and the Fourth Industrial Revolution are shifting the current global value chains to regional ones and that this places greater importance on the coordination between industry and trade policies. Trade Minister Kim stressed that t date2019-02-13

Vice Minister Cheong to lead efforts for public-private investment promotion

Trade, Industry and Energy Vice Minister Cheong Seung-il (fourth from the left) attended the inauguration ceremony for the “Public-Private Investment Promotion Group” held at the Korea Chamber of Commerce and Industry (KCCI) in Seoul on February 12.As the head of the group, Vice Minister Cheong emphasized during his opening remarks that investment is integral to economic growth, future competitiveness, and job creation. Asking for cooperation between the public and private sectors, h date2019-02-12

Industry Ministry announces 1st set of ‘regulatory sandbox’ cases for new business models

Trade, Industry and Energy Minister Sung Yun-mo presided over the first committee meeting on reviewing regulatory exemptions for new business models in Seoul on February 11.The meeting was held based on the newly-launched “regulatory sandbox” bill with a goal of bolstering innovation-driven new industries beyond the current regulatory challenges.After deliberations, the committee decided to approve regulatory exemption requests for three demonstration projects that are prohibited und date2019-02-11

Trade Minister Kim discusses export promotion strategies for 2019

Trade Minister Kim Hyun-chong (second from the left) discussed export promotion strategies for 2019 with industry groups and government officials at a meeting held at the Korea Trade Insurance Corporation (K-sure) in Seoul on February 11.During the meeting, Trade Minister Kim said that amid growing uncertainties in the global trade scene, the Korean government will make every effort to revitalize exports by strategically responding to trade conditions.The topics for the discussion included expor date2019-02-11

Minister Sung discusses industrial revitalization and innovation with think tank leaders

Trade, Industry and Energy Minister Sung Yun-mo (fourth from the left) discussed industrial revitalization and innovation at a meeting with Korean think tank leaders that took place at the Korea Chamber of Commerce and Industry (KCCI) in Seoul on February 7.At the meeting, Minister Sung mentioned that while recent difficult export conditions largely resulted from the impact of external factors such as the U.S.-China trade dispute, a global economic slowdown, and falling oil prices, now is the ti date2019-02-07