Ministry of Trade, Industry and Energy

MOTIE and KCCI launch Carbon-Free Energy Forum

The Ministry of Trade, Industry and Energy (MOTIE) and the Korea Chamber of Commerce and Industry (KCCI) held a ceremony on May 17 at the Korea Press Center for launching the “CFE Forum” with aim to internationally expand the use of carbon-free energy. CFE stands for “Carbon-Free Energy” and refers to any energy source that does not emit greenhouse gases. The CFE Forum is composed of various private sector energy firms and experts to draw a wide range of opinions and fac date2023-05-18

Korea's automobile export value hits all-time high of $6.2 billion in April

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 16 that Korea’s automobile exports reached a total of USD 23.2 billion this year (January- April) with a trade surplus of $17.7 billion, making automobiles the largest contributor to improving Korea’s total trade balance. Export value for the month of April also hit an all-time high of $6.2 billion (up 40.3 percent year-on-year). Automobile production, domestic sales and exports for April grew 24.7 percent to 382,26 date2023-05-18

Minister Lee discusses measures to build competitive nuclear industry ecosystem

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 15 that Korea’s nuclear power industry ecosystem has been fully normalized, as President Yoon Suk-yeol had promised during a conference with nuclear industry firms after taking office that utmost support will be given to restore the nuclear industry and to swiftly resume construction for Shin Hanul 3 and 4. The Korean government is currently poised to assist the industry, not just to restore and normalize the nuclear date2023-05-17

Korea's ICT exports reach $12.8 billion in April

The Ministry of Trade, Industry and Energy announced on May 15 that Korea's exports and imports of information and communications technology (ICT) goods for April recorded USD 12.8 billion (down 35.9 percent year-on-year) and $10.4 billion (down 14.0 percent), respectively. Trade balance stood at a surplus of $2.3 billion. ICT exports fell as a result of the persisting global economic downturn and slower demand for ICT devices, the semiconductor industry setback and a high base effect from last date2023-05-16

436th Korea Trade Commission gives final determination on anti-dumping investigations

The Ministry of Trade, Industry, and Energy (MOTIE) held the 436th Korea Trade Commission meeting on July 21 and announced the final determination to extend the imposing of anti-dumping duties (2.30-11.04%) on Vietnamese and Indian ferro silico manganese for another five years. The Commission determined that lifting of anti-dumping duties on Vietnamese and Indian ferro silico manganese may result in continued dumping and recur damage on domestic industries. Meanwhile, the Commission determined date2023-05-16

Minister Lee discusses measures to bolster shipbuilding industry with shipyard CEOs

Trade, Industry and Energy Minister Lee Chang-yang and Financial Services Commission (FSC) Chairman Kim Joo-hyun held a conference with the CEOs of large and mid-sized shipbuilders and parts manufacturers on May 10 at the Hotel Hyundai Ulsan and announced measures to expand financial support for Korea’s shipbuilding industry. This conference was held on the occasion of the first anniversary of President Yoon Suk-yeol taking office to gather industry opinions, assess Government policies an date2023-05-15

Korea to formulate & amend 1,971 KS in line with digital transition

The Korean Agency for Technology and Standards (KATS), an organization affiliated with the Ministry of Trade, Industry and Energy (MOTIE), held the Industrial Standards Council (“Council”) meeting on May 10 at the JW Marriott Seoul, announcing that 11 ministries will formulate and amend 1,971 Korean Industrial Standards (KS) through 43 technology council meetings this year. The Council is composed of 52 experts from relevant industry, academia, R&D and consumer groups and is the date2023-05-12

Korea and Hungary discuss measures to strengthen trade & industrial cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Speaker of the National Assembly of Hungary László Kövér on May 8 in Seoul to discuss measures for expanding trade, investment, industrial technology, nuclear energy cooperation, as well as the EU’s Foreign Subsidies Regulation (FSR) and Battery Regulation. Trade between Korea and the EU continues to increase despite the global economic slowdown, reaching an unprecedented USD 7 billion last year. Noting date2023-05-11