Ministry of Trade, Industry and Energy

Minister Lee and Secretary Raimondo hold 1st Korea-U.S. SCCD

Minister of Trade, Industry and Energy Lee Chang-yang and United States Secretary of Commerce Gina Raimondo held the first Korea-U.S. Supply Chain and Commercial Dialogue (“SCCD”) on April 27 in Washington DC and issued a joint statement. The joint statement is as below.   United States Secretary of Commerce Gina Raimondo and Republic of Korea Minister of Trade, Industry, and Energy Chang-Yang Lee ('the Participants') signed a Memorandum of Understanding to launch the United date2023-05-02

Minister Lee and Secretary Granholm Commit to Strengthening Clean Energy Cooperation

The Republic of Korea (ROK) Minister of Trade, Industry and Energy Lee Chang-Yang and the United States (U.S.) Secretary of Energy Jennifer M. Granholm met for the ROK-U.S. Ministerial Energy Policy Dialogue (EPD) to strengthen bilateral cooperation on clean energy, climate, and energy security.  The meeting promoted bilateral collaboration across the three pillars of EPD–policies and planning; technologies and research; and commercialization and deployment– in support of the date2023-04-29

Korea and U.S. to launch special student exchange programs in high-tech areas

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 27 that South Korean President Yoon Suk-yeol and U.S. President Joe Biden agreed to launch a large-scale youth exchange between the two countries in high-tech and science technology. According to the Korea-U.S. leaders’ joint statement issued on April 26, the two countries agreed to pouring USD 30 million each (total $60 million) into launching a special exchange program for 2,023 Korean students and 2,023 U.S. students date2023-04-28

Korea's retail industry grows 6.4% in March

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 25 that Korea’s retail sales in March achieved an overall growth of 6.4 percent, year-on-year. Offline and online sales both expanded, by 6.6 percent and 6.1 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. Thirteen of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four &ld date2023-04-27

Korea and U.S. sign 23 MOUs for high-tech, hydrogen & SMR cooperation

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 26 that on the occasion of South Korean President Yoon Suk-yeol’s state visit to the U.S., the two countries held a “Korea-U.S. High-Tech Industry & Clean Energy Partnership” memorandum of understanding (MOU) signing ceremony on April 25 at Waldorf Astoria Washington DC and signed a total of 23 MOUs for stronger forward-looking Korea-U.S. high-tech cooperation. The 23 MOUs were signed for cooperation in date2023-04-27

MOTIE announces U.S. firms will invest $1.9 bil. in Korea's chips, hydrogen & green businesses

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 26 that on April 25 at the American Chamber of Commerce in Korea (AmCham), on the occasion of President Yoon Suk-yeol’s state visit to the U.S., six U.S. firms agreed to invest a total of USD 1.9 billion in Korea’s hydrogen, semiconductor and eco-friendly businesses. This investment is substantially larger than the formerly $1.2 billion pledged during the North American investors’ roundtable held last Septem date2023-04-26

Minister Lee discusses measures to raise Korea's potential growth with leading economists

Trade, Industry and Energy Minister Lee Chang-yang chaired a conference with Korea’s leading economists and national policy experts on April 19 at the Plaza Hotel Seoul to discuss measures to secure potential growth for Korea to develop into a leading global economy with respect to labor, capital and total factor productivity. The conference was attended by a number of professors, economists, and representatives of relevant public institutions, including Lee Seung-heon, Senior Deputy date2023-04-25

MOTIE holds 3rd Korea-Middle East Economic Cooperation Support Working Group

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin chaired the 3rd Korea-Middle East Economic Cooperation Public-Private Joint Committee Support Working Group Meeting on April 19 at the Korea Chamber of Commerce and Industry (KCCI). The meeting was attended by representatives of a total of 20 institutions, including Korea International Trade Association (KITA), Korea Trade-Investment Promotion Agency (KOTRA), K-SURE. and relevant ministries like the Ministry of Scie date2023-04-25