Ministry of Trade, Industry and Energy

Korea and Cape Verde discuss measures for agricultural, energy and trade cooperation

Trade, Industry and Energy Minister Bang Moon Kyu visited Cape Verde from September 29-30 as his first destination upon taking office for promotion of the World Expo 2030 Busan, the first ministerial-level high-level visit from Korea to the said West African country. Visiting as Korea’s Presidential envoy, Minister Bang was accompanied by an economic delegation of 31 persons consisting of public and private personnel of relevant government ministries, agencies and companies, including Kor date2023-10-04

Korea to expand joint efforts with IEA members for critical minerals supply chain stabilization

Trade, Industry and Energy Minister Bang Moon Kyu attended the Summit on Critical Minerals and Clean Energy held by the International Energy Agency (IEA) in Paris, France on September 28, where he extended support for IEA’s efforts toward critical minerals stabilization and highlighted the importance of technological innovation, recycling of resources and job creation in his opening message. Minister Bang also held bilateral talks on the sidelines of the summit with counterparts from the date2023-10-04

Minister Bang attends IEA summit & visits Cape Verde for stronger cooperation

Trade, Industry and Energy Minister Bang Moon Kyu attended the Summit on Critical Minerals and Clean Energy held by the International Energy Agency (IEA) in Paris, France on September 28 to discuss issues concerning the critical minerals supply chain, such as diversification for stronger international cooperation. In the first session under the theme of unlimited potential in technology, resource recycling and job creation, he spoke about the importance of technological innovation, measures for date2023-10-02

Korea's exports decline 4.4% in September

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 1 that Korea’s exports in September declined 4.4 percent year-on-year to USD 54.7 billion and imports fell 16.5 percent to $51.0 billion, resulting in a trade surplus of $3.7 billion, an all-time high within the last two years. September exports recorded a single-digit decline rate for the second consecutive month, showing the smallest decline rate since last October when the export value began decreasing. The daily a date2023-10-02

Korea and Qatar discuss measures for strengthening energy supply chain

Trade, Industry and Energy Minister Bang Moon Kyu met with Qatar’s Minister of State for Energy Affairs Saad Sherida Al-Kaabi on September 27 in Seoul on the occasion of the latter’s first visit to Korea in four years, to discuss measures for strengthening the two countries’ energy and shipbuilding supply chain. Even amid uncertainties across the global energy market, Korea and Qatar have maintained cooperative relations as mutually largest LNG trading partners, their bilatera date2023-09-27

Korea's retail industry grows 3.3% in August

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 26 that Korea’s retail sales for August gained an overall growth of 3.3 percent year-on-year. Offline sales declined by 1.2 percent as Chuseok holidays are due to arrive 19 days later than they did last year (September 10, 2022), with hypermarket chain and department store sales sliding 8.4 percent and 4.9 percent, respectively. Online sales enjoyed growth, notably in services/other (up 13.3 percent), food products date2023-09-27

Amendments to Industrial Technology Protection Act approved at cabinet meeting

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 25 that amendments to the “Act on Prevention of Divulgence and Protection of Industrial Technology” were approved at the cabinet meeting that day. The primary purpose of the amendments is to strengthen the protection of national core technologies. The revisions now categorize individuals with dual citizenship as foreigners, expanding the scope of subjects for national core technology exports and overseas merge date2023-09-27

Korea partners with Vietnam and Uzbekistan on four carbon emission reduction projects

The Ministry of Trade, Industry and Energy (MOTIE) held the ceremony on September 25 for the signing of a memorandum of understanding (MOU) on international projects aiming to reduce greenhouse gases (GHG) at the Korea Trade-Investment Promotion Agency (KOTRA) in the presence of Minister for Trade Dukgeun Ahn and Vietnamese Ambassador to Korea Nguyen Vu Tung, and representatives of relevant affiliations. The abovementioned international projects will support facility investments for Korean com date2023-09-26