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Energy
MOTIE and IEA seek stronger cooperation for energy efficiency innovation
The Ministry of Trade, Industry and Energy (MOTIE) held the “Korea-IEA Energy Efficiency Academic Conference” on February 22 in Seoul, attended by representatives of the Korea Energy Agency (KEA), Korea Energy Economics Institute (KEEI) and the Korea Chamber of Commerce and Industry (KCCI). The conference was held to discuss measures for bolstering cooperation between the Korean government and the International Energy Agency (IEA) and to cover global energy efficiency issues on the margins of Nicholas Howarth’s visit to Korea. A policy analyst on energy efficiency, Nicholas Howarth is the main author of “Energy Efficiency 2023” published by IEA in October 2023. At the conference, Howarth briefly explained “Energy Efficiency 2023”, assessing that the energy efficiency improved 2 percent worldwide in 2022 in comparison with the previous year, and Korea recorded double the global average with a notable 4 percent efficiency growth rate, thanks to strong policy pushes. Meanwhile, energy demand in 2023 rapidly increased, with the global energy efficiency growth stopping at 1.3 percent. According to Howarth, in order to implement the global goals for energy efficiency improvement by 2030 as agreed during the COP28 UN Climate Change Conference, the government’s role in decreasing the use of fossil fuels is critical, such as widening the distribution of heat pumps and other high-efficiency devices, increasing the proportion of EVs and small-sized cars, reducing energy consumption for cooling and heating buildings, and heightening lighting efficiency standards. Next, speakers’ presentations were followed by discussions. KEA introduced Korea’s energy efficiency policy and proposed measures for cooperation for the international climate industry symposium in 2024; KEEI explained the cost-effectiveness of energy efficiency enhancement in Korea’s industrial sectors; and KCCI proposed measures for KCCI-IEA project cooperation. MOTIE’s Energy Efficiency Director General Kim Hyun-cheol said that cooperation between Korea and IEA will continue to deepen in the future, with the diffusion of the Carbon Free Energy (CFE) Initiative and implementation of the nationally determined contributions (NDCs) and COP28 goals by 2030. He added that “In commemoration of IEA’s 50th anniversary, we plan to strengthen cooperative relations with IEA through launching joint international events and R&D projects.” date2024-02-22
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Energy
KATS hosts conference on wind power industry standards strategies with experts
The Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy (MOTIE) hosted the wind power experts’ conference, led by KATS President Jin Jong-wook, on February 21 at the Korea Planning & Evaluation Institute of Industrial Technology (KEIT) in Seoul for discussions with approximately 20 industry, academia and R&D experts on strategies for industry standards and future directions for renewables and certification upgrading projects. date2024-02-22
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Industry
Korea's automobile export value hits all-time high of $6.2 bln for January
The Ministry of Trade, Industry and Energy (MOTIE) announced on February 21 that the value of Korea’s automobile exports for the month of January grew 24.7 percent year-on-year, reaching an all-time high of USD 6.2 billion for January. The trade balance stood at $5.4 billion, ranking automobiles first among export items in terms of trade surplus and as the largest driver behind Korea’s overall January trade surplus. The number of automobiles exported in January amounts to 245,255 units, a first to enter the 240,000 units threshold in nine years since January 2015. The automobile production volume in January achieved 358,423 units, up 16.9 percent. The growth can be attributed to the base effect from last year and the increased number of working days. Meanwhile, production trends for January over the last five years indicate that automobile production has emerged to pre-COVID levels thanks to the normalization of the supply chain and parts supply. Domestic sales of automobiles contracted 0.4 percent year-on-year to 116,152 units in January. Homegrown models saw a 2.5 percent growth in demand and sold 103,057 units in Korea, whereas foreign models declined by 18.8 percent and sold 13,095 units. In terms of passenger car sales, consumer preference for SUVs was prominent. This January, MOTIE announced the eco-friendly mobility regulatory innovation measures for removing obstacles to corporate activities and stimulating automotive investment. The ministry plans to complete 33 of the 43 project tasks by the end of this year and also intends to strengthen support for the automotive parts industry through the “Future Car Parts Industry Act” scheduled to take effect this July. date2024-02-21
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Energy
Wind power experts discuss standards strategies for global competitiveness
The Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy (MOTIE) hosted the wind power experts’ conference on February 21 at the Korea Planning & Evaluation Institute of Industrial Technology (KEIT) for discussions with industry, academia and R&D experts on strategies for industry standards to enhance Korea’s wind power global competitiveness. Over the past year, KATS has been preparing strategies for standards on core parts, super-sized wind turbines, and project certification through the “Wind Power Standards Forum” composed of experts from related industries, academia, and R&D institutes with aim to achieve carbon neutrality and invigorate the wind power industry. The conference was held to gather opinions on industry challenges and to facilitate discussions with approximately 20 wind power experts attending the conference. They proposed various ways to respond to the global market and contribute to industry growth through standardization, expressing anticipation towards the upcoming mega wind power complex development and the accompanying progress in Korea’s wind power industry standards. KATS President Jin Jong-wook emphasized that “Wind power is a vital measure for countries around the world in attaining carbon neutrality. We will provide active support in the standards sector for the growth and global competitiveness of Korea’s wind power industry.” date2024-02-21
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Trade/Investment
2nd official negotiating round for Korea-EU Digital Trade Agreement kicks off in Seoul
The Ministry of Trade, Industry and Energy (MOTIE) announced on February 20 that the second round of negotiations for the Korea-EU Digital Trade Agreement is held through February 20-22 in Seoul with the participation of 30 government representatives of both sides composing the Korean and EU delegations. The second negotiating round aims to further the discussions that are currently underway on trade rules concerning data transfer, personal information protection and cybersecurity agreed in accordance with the Korea-EU Digital Trade Principles of November 2022. The Korea-EU Digital Trade Agreement is anticipated to propose a new digital trade rules model for creating an open, reliable, and fair digital trade environment and enhance Korean firms’ business competitiveness through the expansion of the digital trade network. MOTIE plans to closely communicate with industries and other stakeholders throughout the negotiation process. date2024-02-20
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Trade/Investment
Amended 33rd Public Notice on Trade of Strategic Items to take effect Feb. 24
The Ministry of Trade, Industry and Energy (MOTIE) announced on February 20 that the amended 33rd Public Notice on Trade of Strategic Items with an extended list of items subject to export control against Russia and Belarus will take effect starting February 24. To join in the efforts of the international community’s export control against Russia and Belarus, MOTIE gave an administrative announcement on December 26, 2023, of the amended notice with an extended list of items subject to catch-all controls, which was finalized after a period of collecting public opinion. The amended notice has added 682 items to be subject to catch-all controls for export, including heavy construction equipment, secondary batteries, machine tools, aircraft parts and other items with high risk of utilization for military purposes, extending the list to a total of 1,159 items. Export of items newly added to the list is prohibited beginning February 24. Meanwhile, an export license may be granted for goods that fulfill licensing conditions, such as those contracted for export prior to or on February 23 and items to be sent to subsidiaries. Moreover, the amended notice places stronger emphasis on the post-management of industrial blanket license exports and contains an extended list of items for emergency humanitarian relief that are exempted from licensing requirements. MOTIE will be running an “Export Control Issue Desk” to facilitate exporting businesses’ compliance with the amended public notice and provide guidance on inquiries referring to the controls policy and export items, while also working with relevant ministries to double down on enforcement of the catch-all controls to prevent relevant items from entering Russia or Belarus through third countries. date2024-02-20
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Industry
Korea and Georgia enter first official negotiating round for bilateral EPA
The Ministry of Trade, Industry and Energy (MOTIE) announced on February 20 that the first round of official negotiations for the Korea-Georgia Economic Partnership Agreement (EPA) is to be held through February 20-22 in Tbilisi, Georgia. Director General for FTA Negotiations Chang Sung-gil and Deputy Minister of Economy and Sustainable Development Genadi Arveladze are each heading the Korean and Georgian delegation in this negotiating round. The two countries launched a joint economic feasibility study on the Korea-Georgia EPA in 2021 based on the mutual need for cooperation and this first official negotiating round comes on the heels of the March public hearing and National Assembly briefing in April. The Korean delegation plans to narrow down the two sides’ differences through a total of 15 working groups’ in-depth discussions on goods, services, and cooperation. The Korean government expects to see the Korea-Georgia EPA not only broaden the base for bilateral trade and cooperation, but also serve as an opportunity for Korean firms to expand their presence in the European and Middle Eastern markets. date2024-02-20
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Industry
Korea and Netherlands launch Semiconductor Dialogue to bolster chip cooperation
High Technology Industry Director General Lee Yong-pil at the Ministry of Trade, Industry and Energy (MOTIE) met with Serpil Tascioglu, Director of Top Sectors and Industrial Policy at the Netherlands’ Ministry of Economic Affairs and Climate Policy and head of the Dutch delegation, for the first Korea-Netherlands Semiconductor Dialogue on February 19 in Eindhoven to discuss joint efforts for semiconductor policies as part of implementing the bilateral summit agreement in December on the establishment of a “chip alliance” encompassing the two countries’ governments, companies and universities. The two sides shared semiconductor industrial policies, including the creation of the Mega Cluster announced in January. The Korean delegation emphasized the need for collaboration with major countries regarding policy implementation, particularly for semiconductors in view of their internationally divided specialization structure. The delegations discussed measures for technological cooperation in engineering, equipment, and packaging. They also considered taking turns hosting the Korea-Netherlands Advanced Semiconductor Academy program and expanding the range of participating universities and institutions to diversify the program in tackling the global chip industry’s shared issue of nurturing specialized talent. Moreover, the delegations agreed on the need to strengthen the Korea-Netherlands industrial cooperation for stabilizing the semiconductor supply chain and discussed measures on supporting opportunities for launching new businesses through events like roundtables on the margins of the Korea-Netherlands Advanced Semiconductor Academy course for incumbent employees and other important occasions. They agreed to hold the Semiconductor Dialogue regularly on an annual basis to review the bilateral chip cooperation progress and bolster organic collaboration between their governments, industry, academia and R&D sectors. Director General Lee said that MOTIE will continue efforts to further the two countries’ cooperation through the Korea-Netherlands Semiconductor Dialogue. date2024-02-20
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Industry
Korea and Netherlands launch advanced semiconductor academy program to train chip talent
The Ministry of Trade, Industry and Energy (MOTIE) is launching the first Korea-Netherlands Advanced Semiconductor Academy (“Academy”) program through February 19-23 (local time) at the Eindhoven University of Technology (TU/e) in the Netherlands as part of the smooth implementation of the Korea-Netherlands memorandum of understanding (MOU) for training highly skilled talent in advanced semiconductor areas, as signed in December 2023. The Academy program is an education course led by 20 international experts from seven institutions and taught at advanced global semiconductor companies like ASML, Imec, and NXP Semiconductors, integrating corporate professionals’ knowhow to train approximately 60 Korean (50) and Dutch (10) students with master’s and doctoral degrees specializing in semiconductor areas. In this program, ASML and Imec developers will be giving special lectures and facilitating discussions on Imec’s chip manufacturing processes, including extreme ultraviolet (EUV) lithography technology for micropattern fabrication, process development, atomic layer deposition technology development, and wafer surface control. Domestic talents taking the program can learn about the latest trends in global companies’ technological development and strategies difficult to pick up in Korea. Participating students are composed of those with master’s and doctoral degrees in semiconductor specialization graduate schools designated last year for training highly skilled semiconductor talent. To enhance the effectiveness of the on-site courses, SK Hynix and other MPE (machinery, equipment, parts) companies’ experts were invited to give preliminary courses teaching advanced technologies like plasma etching and EUV lithography for semiconductor micropatterning. Moreover, courses on processes, materials and equipment will also open to articulate with the semiconductor specialization graduate schools’ courses during the first half of this year to push for mutual school exchanges. MOTIE’s High Technology Industry Director-General Lee Yong-pil stated that “securing the semiconductor technology super gap hinges on sourcing highly-skilled talent” and added that “the Korea-Netherlands Academy for incumbent employees will likewise open in the first half of this year, and the plan is to launch the Academy program every year for the next five years to train 500 Korean and Dutch top talents and seriously push forward cooperation in advanced semiconductor R&D.” date2024-02-19
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Energy
Korea and Japan step up joint efforts for promoting clean hydrogen utilization
Director General for Hydrogen Economy Policy Park Chan-ki at the Ministry of Trade, Industry and Energy (MOTIE) and Hiroo Inoue, Director General for Energy Efficiency and Renewable Energy Department at Japan’s Economy, Trade and Industry Ministry (METI), held the Korea-Japan Director General-Level Hydrogen Cooperation Meeting on February 15 in Japan. The two countries had agreed on the need for joint efforts regarding carbon reduction and clean energy cooperation during the Korea-Japan summit talks at Stanford University on the margins of the Asia-Pacific Economic Cooperation (APEC) Summit 2023, and this director general-level meeting was held as a follow-up discussion on clean hydrogen cooperation. The two hydrogen and energy leaders reaffirmed the importance of clean hydrogen in achieving the nationally determined contributions (NDCs) for cutting greenhouse gas emissions and held the view that the two countries’ collaboration as consumers and importers of clean hydrogen offers substantial potential in light of their similar industrial structure and energy consumption dynamics. Based on their shared interest, the two sides agreed to continue cooperative efforts in various areas, including the development of global hydrogen supply chains and new fields of hydrogen utilization, related standards, specifications, and policies. They also agreed to launch a director general-level “Korea-Japan Hydrogen Cooperation Dialogue” for the regular exchange of views and close cooperation on the global diffusion of hydrogen economy and clean hydrogen market leadership. date2024-02-16