Ministry of Trade, Industry and Energy

Trade Minister meets Japan’s METI Vice Minister for International Affairs

Korea's Minister for Trade Inkyo Cheong held talks with Japan’s Vice Minister for International Affairs at the Ministry of Economy, Trade and Industry (METI) Matsuo Takehiko on December 13 in Seoul and discussed bilateral economic and trade cooperation and measures for tangible economic cooperation outcomes. date2024-12-13

Trade Minister meets China’s Commerce Vice Minister

Korea's Minister for Trade Inkyo Cheong held talks with China's Vice Minister of Commerce Li Fei on December 12 in Seoul and discussed bilateral cooperation outcomes for this year as well as measures for future cooperation in responding to global trade environment changes. date2024-12-13

Fabless companies win recognition for contribution to advancing Korea’s fabless industry

Director General for High Technology Industry Yoon Sung-hyuk at the Ministry of Trade, Industry and Energy (MOTIE) attended the 2024 Fabless Day ceremony on December 11 in Seoul, hosted by the Korea Fabless Industry Association, where contributors to the fabless industry development were presented with government awards. Now in its second year, the ceremony was held with the participation of 100 representatives of major Korean fabless and semiconductor design house companies like Nextchip, Telechips, ABOV Semiconductor, and GAONCHIPS, as well as related institutions such as the Ministry of SMEs and Startups (MSS), Seongnam City, and the SeongNam Industry Promotion Agency (SNIP). During the ceremony, nine government awards were given to fabless companies recognized for their contribution to innovating and developing the domestic fabless ecosystem, including the Korean fabless company Nemesis, which was awarded the Trade, Industry and Energy Minister’s Commendation.   date2024-12-12

Korea launches 28th New Technology Commercialization Promotion Competition

The Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea launched the New Technology Commercialization Promotion Competition (“Competition”) on December 11 in Seoul to encourage new technology development and catalyze the expansion of sales channels and investment support. At the Competition, government awards were presented to 47 persons and institutions of merit for their contribution to developing and commercializing new and innovative technologies in addition to expanding sales channels. Moreover, a total of 35 new technology and new product certificates were awarded for the second half of this year. This year’s Silver Tower Order of Industrial Service Merit went to JNG CEO Park Jong-woo for the groundbreaking contribution to improving the air conditioning and heating efficiency of geothermal heat pump systems through air-conveying power reduction technology. The Industrial Service Medal went to Park Chang-joo, a department head at DL E&C for contributing to enhancing fire safety and the firefighting industry by developing the two-way intake and exhaust control system. On the margins of the Competition, three memorandums of understanding (MOUs) were signed among certified firms, venture capital firms, and a technology evaluation institute to accelerate the initial follow-up investment outcomes of the agreement signed last year to promote investment for new product- and technology-certified firms.   date2024-12-12

New Technology Commercialization Promotion Competition 2024

Director General for Conformity Policy Chung Sang-yong at the Ministry of Trade, Industry and Energy (MOTIE) attended the New Technology Commercialization Promotion Competition 2024 on December 11 in Seoul and presented government awards to 47 persons of merit including JNG CEO Park Jong-woo, who received the Silver Tower Order of Industrial Service Merit. date2024-12-12

Trade Minister meets Mexican Ambassador to Korea

Minister for Trade Inkyo Cheong of the Republic of Korea met Mexican Ambassador to Korea Carlos Penafiel Soto on December 11 in Seoul to discuss bilateral economic cooperation. date2024-12-12

Trade Minister meets Vietnamese Ambassador to Korea

Minister for Trade Inkyo Cheong of the Republic of Korea met Vietnamese Ambassador to Korea Vu ho on December 11 in Seoul to discuss bilateral economic cooperation. date2024-12-12

Minister Ahn meets NGA Vice Chair Oklahoma Governor

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held talks with U.S. National Governors Association (NGA) Vice Chair Oklahoma Governor Kevin Stitt today in Seoul, underscoring how the two countries have advanced to a key economic partnership and security alliance based on investment and technology cooperation. They also discussed the importance of a continued mutually beneficial Korea-U.S. cooperation going forward under the incoming U.S. administration. date2024-12-11

Trade Minister holds conference with AMCHAM Korea delegation

Minister for Trade Inkyo Cheong of the Republic of Korea met the delegation from the American Chamber of Commerce in Korea (AMCHAM Korea) led by its Chairman James Kim today in Seoul to discuss measures for promoting foreign investment and the impact from rapid changes in the global trade environment. date2024-12-11

Trade Minister holds conference with trade experts

Minister for Trade Inkyo Cheong of the Republic of Korea convened a conference on December 10 at the Korea Security Agency of Trade and Industry (KOSTI) in Seoul with trade and international relations experts, where he gave an opening message and led discussions on response strategies regarding the U.S.’ new administration’s trade policies. With the inauguration of the new U.S. administration a month away, the conference was held to share the Korean government’s progress in preparations and to facilitate in-depth discussions among trade experts and related leaders on strategic response measures. Attendees were composed of representatives of KOSTI and KITA as well as attorneys and university professors. date2024-12-11