Ministry of Trade, Industry and Energy

Korea kicks off Project Team for innovative SMRs

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) jointly held a launching ceremony for the 'Innovative Small Modular Reactor (SMR) Technology Development Project Team (“Project Team”) at the Lotte City Hotel in Daejeon on July 10. The event was attended by over 100 industrial and academic experts including MOTIE Vice Minister Kang Kyung-sung, MSIT Minister Lee Jong-ho, Kim Young-sik and Choi Hyung-du of the Peopl date2023-07-14

Korea and Poland seal TIPF MOU for stronger bilateral cooperation

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced on July 14 that MOTIE and Poland’s Ministry of Economic Development and Technology entered the Trade and Investment Promotion Framework (TIPF) memorandum of understanding (MOU) on July 13 in Warsaw. Based on this MOU, the two countries plan to expand their industrial cooperation base over a comprehensive scope that will spur joint business projects across trade, investment and supply chains, and also im date2023-07-14

Korea's ICT exports reach $16.1 billion in June

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced on July 13 that Korea's exports and imports of information and communications technology (ICT) goods for June amounted to USD 16.1 billion (down 22.1 percent year-on-year) and $11.5 billion (down 12.3 percent), respectively. The trade balance stood at a surplus of $4.6 billion. ICT exports fell as a result of prolonged slowdown of global demand for ICT, the sluggish semiconductor industry, and the high base ef date2023-07-13

Korea hosts 4th IPEF negotiating round in Busan

The Republic of Korea’s Trade, Industry and Energy Ministry’s Deputy Minister for FTA Negotiations Roh Keon-ki is heading the Korean delegation in the fourth negotiating round of the Indo-Pacific Economic Framework for Prosperity (IPEF) in Busan from July 9-15. Approximately 650 government officials came from 13 other countries, namely the U.S., Japan, Australia, New Zealand, Singapore, Thailand, Vietnam, Brunei, Malaysia, the Philippines, Indonesia, India and Fiji. The fourth nego date2023-07-13

Korea and UAE to pursue summit outcome follow-up measures

Trade, Industry and Energy Minister Lee Chang-yang of the Republic of Korea met with United Arab Emirates (UAE)’ Economy Minister Abdulla Bin Touq Al Marri on July 7 on the occasion of the latter’s visit to Korea and exchanged views on the January bilateral summit outcomes and future economic cooperation in trade, investment, advanced industries, technology and energy. During the talks, the two ministers assessed that the 48 agreements and memorandums of understanding (MOUs) to date2023-07-13

Korea and Lithuania seek to bolster industrial & trade cooperation

Korea’s Minister for Trade Dukgeun Ahn met with Lithuania’s Economy and Innovation Minister Aušrinė Armonaitė on July 6 in Seoul and discussed measures for Korea-Lithuania cooperation. The meeting was held on the occasion of Minister Armonaitė’s visit to Korea to attend Laser Korea 2023 accompanied by Lithuania’s eight major laser companies, including Light Conversion and Ekspla. Laser Korea 2023 is an international event showcasing the latest laser technolog date2023-07-12

Korea launches public-private joint SMR Alliance

The Government of the Republic of Korea and the industrial sector are teaming up to lead the market for small modular reactors (SMRs). At the launching ceremony for the public-private joint SMR Alliance (chaired by SK Inc.) held on July 4, the participants announced the future strategic plans and inked business agreements. The SMR Alliance is composed of 42 entities, including 11 state-run and Government organizations such as the Ministry of Trade, Industry and Energy (MOTIE), Korea Hydro date2023-07-11

Korea honors top contributors to trade security

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea held the 'Trade and Security 2023' commemoration ceremony on July 5 at the COEX Intercontinental Hotel. The event was attended by more than 200 people, including those of trade security merits, CEOs of export companies, and experts from Korea and abroad. This event, which marks its 13th anniversary this year, aims to raise awareness for trade security among companies and citizens and encourage exporters and related inst date2023-07-11