Ministry of Trade, Industry and Energy

MOTIE kicks off Global Talent Supporters, boosting online recruitment support for foreign-invested firms

The Ministry of Trade, Industry and Energy (MOTIE) held the Global Talent Supporters (“Supporters”) kick-off ceremony today at the Korea Trade-Investment Promotion Agency (KOTRA) in Seoul as part of an aim to enhance support for foreign-invested firms’ talent recruitment. Now in its second year, the Supporters program for 2025 has chosen 20 university students with the aspiration to grow into global talents by gaining work experience at foreign-invested companies, each of whom beat 22 other competitors in the nationwide selection process.  Over the next two months, the Supporters will be promoting foreign-invested firms’ recruitment activities by visiting and reporting on leading global companies through YouTube and other media platforms. Leveraging their digital fluency and ability to create original content, the Supporters can act as a bridge between companies and youth by bringing quality recruitment information to young job-seekers. MOTIE will also be increasing year-round online hiring. Since 2019, the ministry has been running an online platform for the exclusive promotion of foreign-invested firms’ year-round recruitment at Job Korea (www.jobkorea.co.kr/Theme/kotra), a private career portal. Starting this year, MOTIE plans to strengthen support for the year-round online hiring of businesses in advanced industries by adding special sections introducing some of their high-performing companies and featuring interviews with HR managers. Among foreign-invested companies participating in the year-round hiring platform, additional support will go towards the development of a special webpage dedicated to those with plans for large-scale recruitment. The Korean government intends to make smooth progress in preparing for the Global Talent Fair 2025 slated for this May to actively assist job-seekers’ efforts for employment at global companies. Preregistration for the Global Talent Fair is open from March 20 to May 2 and those who are interested can preregister at the official website (globaltalentfair.kotra.biz) to take part in a variety of employment support programs.   date2025-03-21

Korea Trade Commission holds public hearing on petroleum resin imports

The Korea Trade Commission (KTC) under the Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea held a public hearing today on whether Chinese and Taiwanese petroleum resin imports are causing damage to domestic industries, on which anti-dumping investigations were opened last August. As a result of a preliminary determination made last December, provisional anti-dumping duties of between 4.45% and 18.52% are currently levied on the said products. Held under Article 64 of the Enforcement Decree of the Customs Act, the public hearing aims to grant interested parties sufficient opportunity to make statements and ensure their rights of defense. A final ruling will be given during the first half of this year following domestic and overseas due diligence procedures. The KTC also held its 458th meeting today, receiving reports on anti-dumping investigations launched on hot-rolled carbon and alloy steel products requested by Hyundai Steel and on single-mode optical fiber products requested by LS Cable & System.   date2025-03-20

Korea’s automobile exports recover growth in February

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that Korea’s automobile exports, production, and domestic sales for the month of February 2025 all posted double-digit growth year-on-year, with the production volume surpassing 350,000 units, a first in 11 years since February 2014. Korea’s monthly automobile exports volume reached 232,978 units (up 17.3 percent), entering the six billion thresholds in value for the first time for February with USD 6.1 billion (up 17.8 percent). The rebound and trade surplus are attributable to the strong performance in overseas markets like the EU (up 22.6 percent) and the Middle East (up 38.2 percent), as well as to the sharp increase in hybrid electric vehicle (HEV) exports (up 61.7 percent). Domestic sales jumped 14.8 percent to 132,855 units, thanks to the individual tax consumption cuts and early enforcement of electric vehicle (EV) subsidies in accordance with government measures to enhance the competitiveness of eco-friendly cars and secondary batteries (announced January 15). As a result, domestic EV sales for February skyrocketed 298.1 percent to 14,265 units.   date2025-03-18

Korea’s ICT exports rebound in February

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) of the Republic of Korea announced on March 16 that Korea’s exports and imports of information and communications technology (ICT) goods for February 2025 climbed 1.2 percent and 5.6 percent, respectively, to USD 16.7 billion and $10.9 billion. The trade balance stood at a surplus of $5.8 billion. February exports achieved a rebound from the downtick in January and came in second highest for the month, with mobile phones (up 33.3 percent), computers/peripherals (up 26.9 percent), and communications devices (up 74.1 percent) softening the fall from semiconductors (down 3.0 percent) and displays (down 5.1 percent). Semiconductor exports suffered a slight dip despite the sound performance of high value-added memory chips like high-bandwidth memory chips (HBMs) and DDR5s as general-purpose memory chips like NAND flash dropped in both unit price and production volume.  Displays receded as a result of panel display oversupply and sluggish demand for home appliances in Korea’s major export market. Meanwhile, mobile phone exports increased on the backs of growing demand for parts from overseas production bases in regions such as China, Vietnam, and India. Computers/peripherals enjoyed growth, thanks to stronger demand for storage devices fueled by wider investments in servers and datacenters in the U.S. and the EU. Communications devices exports were led by rising demand for navigation auxiliary equipment in India. By destination, ICT exports to Vietnam (up 15.6 percent), the U.S. (up 11.5 percent), and Taiwan (up 124.3 percent), and India (up 54.9 percent) expanded, whereas those to China (including Hong Kong) (down 19.6 percent), the EU (down 7.6 percent), and Japan (down 5.7 percent) contracted.   date2025-03-17

Korean government holds 35th Energy Commission meeting

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held the 35th Energy Commission meeting today for deliberation on the Government’s plans regarding energy supply and demand during emergencies, gas safety management, and electrical safety management. The Korean government has been preparing response measures against national energy emergencies by establishing the Energy Supply and Demand Plan for Emergencies under the Energy Act. In light of the rapidly changing energy supply and demand landscape due to Korea’s shifting energy mix, geopolitical uncertainties like the Russia-Ukraine war, and climate anomalies, the Government has laid out response measures to various possible emergency scenarios. The distinguished feature of the most recently established Energy Supply and Demand Plan for Emergencies is its adjustment of the nation’s energy mix set previously comprising electrical power, crude oil, gas, and coal to electrical power, crude oil, gas, and thermal power amid the declining demand for coal and rising use of thermal energy. The plan expands the scope of power emergency management to cover not only supply and demand but the electrical power system as well, in view of increased use of renewable energy and ensuing power system volatility. Since 2015, the Government has been renewing the Basic Plan for Gas Safety Management every five years on account of the flammability and explosion risks of gas. The recently established third Basic Plan for Gas Safety Management differs from the previous version in that it contains safety standards for new hydrogen technologies and related infrastructure expansion measures in response to Korea’s growing hydrogen economy. Moreover, in view of the increasing number of old gas facilities, the Government will push the transition to a digital-based constant safety management system through a more active deployment of information technology while also reinforcing private sectors’ safety management. Korea’s electrical power consumption is on an upward trend owing to datacenters and such power-intensive facilities, and the complexity and scale of electrical power accidents and damages are growing as well. Accordingly, the Government established the first Electrical Safety Management Basic Plan this year, outlining measures for enhanced safety management that cater to the more vulnerable targets including multipurpose facilities, industrial complexes, and socially disadvantaged groups. The plan further aims to promote flexible and field-oriented electrical safety management methods, the innovation of safety management based on cutting-edge technologies, and the nurturing of private-led safety management efforts in developing the electrical safety industry. Minister Ahn stated that the Government will continually strive to innovate the safety management system in step with various changes such as the growth of the hydrogen economy and advanced industries’ increased power demand to accommodate the safe energy consumption of Korean citizens.   date2025-03-14

Korea and Mongolia bolster full life cycle cooperation for rare metals

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea held the second Korea-Mongolia Rare Metals Cooperation Joint Committee (“Committee”) meeting today in Seoul to boost bilateral cooperation for rare metals supply chains. The Committee is a follow-up to the signing of a memorandum of understanding (MOU) on rare metals supply chain cooperation forged during the Mongolian prime minister's visit to Korea in February 2023. Deputy Minister for Energy Policy Lee Ho-hyeon and Mongolia’s State Secretary of the Ministry of Industry and Mineral Resources Javkhlanbaatar Sereeter led their respective delegations in today’s meeting to discuss various measures for rare metals cooperation with the participation of both countries’ relevant ministries and institutions. By this November, the two countries are looking forward to completing the establishment of materials and equipment for the Korea-Mongolia Rare Metals Cooperation Center, which will serve to support Korean firms’ rare metals technology development as an outpost for entry into Mongolia’s mineral development projects.  Through joint exploration between the Korea Institute of Geoscience and Mineral Resources (KIGAM) and Mongolia’s Geological Center for Research and Analysis (GCRA), efforts will be made to identify rare metal reserves in Mongolia and conduct demonstrations of Korean companies’ exploration technologies. The Korea Institute of Energy Technology Evaluation and Planning (KETEP) plans to launch an R&D project to expedite Mongolia’s tin mining development and contribute to Korea’s supply chains through the application of smart mining technologies suitable for Mongolian sites and the securing of beneficiation pilot plant technologies. Going forward, Korea and Mongolia will be engaging in joint efforts spanning the entire life cycle from exploration to development centering on economically feasible rare metals with aim to stabilize Korea’s supply chains and spur the development of Mongolia’s mineral resources.   date2025-03-12

Korea and Australia discuss trade cooperation

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held a videoconference meeting with Australia’s Minister for Trade and Tourism Don Farrell today, during which they exchanged views on the global trade environment and agreed to closely cooperate on securing supply chain stability. Noting the continually expanding scope of Korea-Australia trade and investment based on their mutually complementary trade structures, Minister Ahn proposed that the two countries advance their existing cooperative ties in energy and resources toward forward-looking areas such as supply chains, clean economy, and digital. Moreover, Minister Ahn requested the Australian government’s interest and support in facilitating the critical minerals and other local projects invested in by Korean businesses. He also called for the active participation and cooperation of Australian authorities and companies for Korea’s successful hosting of APEC 2025 as this year’s APEC chair. date2025-03-11

Korea’s Ambassador for International Investment Cooperation to carry out various outreach with major U.S. think tanks

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Ambassador for International Investment Cooperation Choi Joong-kyung is visiting Washington D.C. through March 10–14 to engage in various outreach activities with major U.S. institutions to strengthen Korea-U.S. economic, industrial, and investment cooperation. Appointed this January by the Korean government as an ambassador-at-large, Ambassador Choi will be visiting think tanks, the U.S. Chamber of Commerce, and companies to expand the scope of bilateral cooperation through discussions on promising areas for industrial cooperation. First, a seminar for promoting Korea-U.S. industry and investment cooperation will be held on March 11 (local time) at the Heritage Foundation, one of the leading U.S. think tanks, where Ambassador Choi introduces the potential and industrial competitiveness of the Korean economy to relevant experts, business leaders, and special correspondents, highlighting that the two countries are most suitable partners for economic and industrial cooperation as allies sharing common values of democracy and free market economy. In his keynote address, Ambassador Choi states that the U.S.’ advanced technology and Korea’s manufacturing capacity can create mutually beneficial synergy based on the two countries’ complementary industrial structures. He proposes that shipbuilding, defense, AI and semiconductors, nuclear reactors, energy, and batteries are six promising areas of bilateral industrial cooperation, maintaining that both countries will be able to enhance their global competitiveness through combining the U.S.’ cutting-edge technologies and security cooperation needs with Korea’s manufacturing infrastructure and highly skilled human resources. Ambassador Choi adds that policy continuity and legal stability are essential prerequisites for Korean companies’ wider investments in the U.S. going forward in areas such as semiconductors, batteries, and other manufacturing sectors, underscoring the need for transitional measures in adjusting existing policies when it comes to business projects for which investments have already been made. During his visit, Ambassador Choi plans to also meet with key experts at the U.S. Chamber of Commerce, Peterson Institute for International Economics (PIIE), Korea Economic Institute of America (KEI), Brookings Institution, and the Center for Strategic and International Studies (CSIS) to discuss strategic bilateral cooperation across all areas including politics, economy, security, and international environment.   date2025-03-11