Ministry of Trade, Industry and Energy

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

MOTIE to develop 11th Electric Power Supply Basic Plan

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) held the 4th Electric Power Policy Deliberation Committee Meeting and gave a briefing on the 11th Electric Power Supply Basic Plan. Beginning in July, the 11th Electric Power Supply Basic Plan Working Group plans to utilize scientific methods to produce precise forecasts on long-term power demand in accordance with recent changes so as to develop an energy mix that harmoniously incorporates policy goals, such as stabi date2023-07-19

4th RCEP joint committee meeting to discuss Secretariat installation

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced on July 18 that the fourth joint committee meeting of the Regional Comprehensive Economic Partnership (RCEP) will be held from July 18-19 in Surabaya, Indonesia. The joint committee meeting will be chaired by Co-Chairs Indonesia and Australia, with the participation of approximately 80 delegation members from 10 ASEAN countries, 15 RCEP member countries including Korea, China, Japan, Australia and New Zealand date2023-07-18