Ministry of Trade, Industry and Energy

Korea and Australia discuss investment cooperation in LNG and hydrogen

The Republic of Korea’s Trade, Industry and Energy Minister Lee Chang-yang met with Australia’s Climate Change and Energy Minister Chris Bowen on July 25 in Seoul and discussed measures to strengthen carbon related cooperation, including the securing of critical minerals and liquefied natural gas (LNG), clean hydrogen, green steel, and carbon capture and storage (CCS). Minister Lee mentioned that Korean companies are facing management uncertainties and concerns with regard to Austra date2023-07-27

Korea launches Industrial Artificial Intelligence (AI) Alliance

The Republic of Korea’s Trade, Industry and Energy 1st Vice Minister Jang Young-jin held the Industrial Artificial Intelligence (AI) Alliance launching ceremony on July 25 at the Seoul Dragon City Hotel with the participation of Hyundai Motor, LG Electronics, Samsung SDS and other major companies representing Korea’s core industries and digital transformation (DX) suppliers. This Alliance is the expanded and realigned version of the Industrial Digital Transformation (DX) Solidarity date2023-07-26

Korea and Indonesia deepen partnership in batteries and EVs

The Republic of Korea's Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin led the Korean delegation in meeting with his counterpart Edi Prio Pambudi, the Deputy Minister for Coordination of International Economic Cooperation of Indonesia, on July 24 at the Lotte Hotel Seoul to hold the 2nd Korea-Indonesia Economic Cooperation Committee Meeting and discussed measures to bolster bilateral economic cooperation. In their opening messages, both delegation heads noted th date2023-07-26

Trade Minister discusses stronger partnership for GHG reduction with ambassadors to Korea

The Republic of Korea’s Minister for Trade Dukgeun Ahn chaired the “Roundtable on Facilitating Global Net-Zero with Ambassadors to the Republic of Korea” on July 20 at the Korea Chamber of Commerce and Industry (KCCI), co-organized by the Korea Trade-Investment Promotion Agency (KOTRA) and Korea Energy Agency, to discuss measures for stronger partnership in reducing greenhouse gases (GHG) to achieve carbon neutrality with the ambassadors to Korea from seven countries, including date2023-07-25

Korea designates 7 specialized complexes for national high-tech industries

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced on July 20 that it has designated seven National High-Tech Strategic Industry specialized complexes for semiconductors, secondary batteries and displays, into which a total of KRW 614 trillion of private investment will be poured by 2042. A total of 21 regions applied for the designation as a specialized complex, of which seven have been selected on the basis of the potential for industrial ecosystem developm date2023-07-24

Korea newly designates 5 MPE-specialized complexes

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) held the MPE (materials, parts, equipment) Competitiveness Committee meeting and decided that the scope of designated new industries, like future mobility and bio, will be expanded, and that five specialized complexes will be added accordingly. Approximately 6.7 trillion won will be newly invested into creating the five complexes: two for future mobility in Gwangju and Daegu, one for bio in Chungbuk, two for semiconduc date2023-07-21

Korea to enhance company collaboration with digital twin & AI technologies

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) held a ceremony on July 20 at the Korea Institute for Advancement of Technology (KIAT) for the project launching of establishing digital factories utilizing digital twin and artificial intelligence (AI) technologies for collaboration among large corporations, middle-market companies and small and medium-sized enterprises (SMEs). A total of KRW 28.8 billion (5 billion allotted for this year) will go towards assisting th date2023-07-21

Korea announces Bio Economy 2.0 Initiative

The Republic of Korea’s Trade, Industry and Energy Minister Lee Chang-yang held the Bio Economy 2.0 Roundtable on July 19 at the Seoul Biohub and discussed the bio industry’s future development direction and strategy with industry representatives and other related persons. The roundtable is a part of the follow-up measures to implementing the policy tasks discussed during the export strategy meeting chaired by President Yoon Suk-yeol on June 1, which includes deregulating the bio se date2023-07-20