Ministry of Trade, Industry and Energy

MOTIE launches Project CE (Circular Economy) 9

The Ministry of Trade, Industry and Energy (MOTIE) announced the 'Strategy for Industrial New Growth through Invigoration of Circular Economy' during the emergency ministerial meeting on economic affairs held on June 21, presided by Korea’s Deputy Prime Minister Choo Kyung-ho. MOTIE is pushing for the swift spread of circular economy across all industries to support companies’ shift towards carbon neutrality and efforts to develop new sources of competitiveness, as well as to secure date2023-06-21

Korea and Japan to bolster policy cooperation in hydrogen

Trade, Industry and Energy Ministry’s Director-General for Hydrogen Economy Policy Bureau Lee Ok-heon met with Hiro Inoue, Japan’s Economy, Trade and Industry Ministry (METI)’s Director-General of the Energy Conservation and Renewable Energy Department, to discuss measures for policy cooperation in hydrogen safety and related industries. The director-generals agreed on the need for hydrogen energy in the shared goal of achieving carbon neutrality, and exchanged views on Korea& date2023-06-21

MOTIE and KOTRA hold investment promotion event in Tokyo

The Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) held an event in Tokyo on June 15 to promote Korea’s investment environment as well as opportunities for Korea-Japan joint business collaborations to the Japanese MPE (materials, parts, equipment) firms in advanced industries like semiconductors, secondary batteries and displays. The promotion event consisted of an investor roundtable and investment briefing, and personnel from appro date2023-06-21

Korea and Ecuador agree to expand cooperation and investment

Minister for Trade Dukgeun Ahn met with Ecuador's Production, Foreign Trade, Investments and Fisheries Minister Julio José Prado on June 15 in Seoul and had extensive discussions on various measures to strengthen economic cooperation between the two countries, including the progress of negotiations on the Korea-Ecuador Strategic Economic Cooperation Agreement (SECA), trade and investment, and supply chain collaboration. Since the two countries resumed negotiations for the Korea-Ecuador S date2023-06-20

Korea and Qatar agree to expand investment cooperation

Trade, Industry and Energy Minister Lee Chang-yang held a High-Level Strategic Consultation Committee meeting with Qatari Minister of Commerce and Industry H.E. Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani in Seoul on June 15. The meeting was held for the first time in four years since 2019. The high-level visit to Korea was attended by Qatar’s Sovereign Wealth Fund (ranked 9th globally) for the first time, creating an opportunity to expand the bilateral cooperation from ind date2023-06-19

Korea's auto exports record $6.2 billion in May

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 15 that Korea’s automobile exports for May reached a total of USD 6.2 billion, recording a historic high for May monthly exports and entering the $6 billion thresholds for the third consecutive month. Eco-friendly cars, which are higher in unit price, recorded $2.1 billion (up 64.3 percent) in exports for May, driving up the entire automobile exports. Normalization of automotive semiconductors and other parts supply la date2023-06-19

Korea to host 4th IPEF negotiating round in Busan

Trade, Industry and Energy Ministry’s Deputy Minister for FTA Negotiations Roh Keon-ki will head the Korean delegation in the fourth negotiating round of the Indo-Pacific Economic Framework for Prosperity (IPEF) from July 9-15, 2023, at the Busan Exhibition and Convention Center (BEXCO). Delegations of thirteen other countries will be attending the negotiation round: the U.S., Japan, Australia, New Zealand, Singapore, Thailand, Vietnam, Brunei, Malaysia, the Philippines, Indonesia, I date2023-06-16

MOTIE announces K-Design Innovation Strategy

Trade, Industry and Energy Minister Lee Chang-yang chaired the 8th Industrial Strategy Roundtable and presented the K-Design Innovation Strategy and facilitated discussions on measures to promote Korea’s design industry with industry representatives and relevant persons, in accordance with President Yoon Suk-yeol’s call to strengthen design competitiveness and foster an environment where top design artists and firms can further develop. The K-Design Innovation Strategy consists of f date2023-06-15