Ministry of Trade, Industry and Energy

Korea and Germany hold 2nd meeting on industrial cooperation

The Ministry of Trade, Industry and Energy's Deputy Minister for the Office of Industrial Policy Joo Young-joon attended the “2nd ROK-Germany Meeting of the Industry Working Group of MOTIE and BWMK (Germany’s Ministry for Economic Affairs and Climate Action)” held on September 30 at the Korea Chamber of Commerce and Industry (KCCI) to discuss the U.S.’ Inflation Reduction Act (IRA), supply chain crisis and decarbonization strategies with German counterparts, including BWM date2022-10-05

Korea's exports grow 2.8% in September

The Ministry of Trade, Industry and Energy announced on October 1 that Korea’s exports in September increased 2.8 percent to USD 57.5 billion, a historic high for the month of September. Korea’s exports have risen for 23 consecutive months since November 2020 amid the Russia-Ukraine war and sluggish global economy. The growth, albeit having receded to single-digit growth since June, is meaningful as it was achieved despite the high base effect of last year’s record-breaki date2022-10-04

Minister holds 2nd Nuclear Energy Exports Strategy Committee Meeting

Trade, Industry and Energy Minister Lee Chang-yang held the 2nd Nuclear Energy Exports Strategy Committee (hereinafter “Committee”) Meeting on September 29 at the Seoul Garden Hotel. Headed by the Trade, Industry and Energy Minister, the Committee was first launched in August this year to foster competitiveness of Korea’s nuclear and related industries and support their market penetration overseas. It is a nuclear energy exports control tower consisting of 30 nuclear industry date2022-09-30

Minister discusses energy crisis response with Korea's "Top 10"

Trade, Industry and Energy Minister Lee Chang-yang held a conference with Korea’s top 10 companies and associations on September 26 to discuss the current energy crises and to seek public-private joint response measures. Among those present were representatives of Samsung Electronics, SK's SUPEX Council, Hyundai Steel, LG and Lotte Chemical. Korea is up against numerous external and internal challenges at present amid the global energy crisis, high rates of exchange and interest, and poor date2022-09-29

MOTIE and European nations' Ambassadors to Korea discuss cooperation

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin attended a conference to discuss ROK-EU industrial and energy cooperation measures with European nations' ambassadors to South Korea. A total of 18 European countries’ ambassadors attended the event. Deputy Trade Minister Jeong introduced the industry, trade and energy policies that will be implemented under Korea’s new regime for overcoming global inflation, supply chain uncertainties and other economi date2022-09-29

National Assembly ratifies ROK-Israel and ROK-Cambodia FTAs

Trade Minister Ahn Duk-geun announced on September 27 that the National Assembly has ratified Korea’s FTAs with Israel and Cambodia, respectively. The ROK-Israel FTA was finalized in August 2019 after six official negotiation rounds, and submitted to the National Assembly this January. The ROK-Cambodia FTA was finalized in February 2021 after four official negotiation rounds and submitted to the National Assembly this February. All necessary processes on Korea’s part are now compl date2022-09-29

Korea's retail industry grows 15.4% in August

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 28 that Korea’s retail sales in August posted year-on-year growth of 15.4 percent. Both physical and online retailers achieved growth in sales, up 14.5 percent and 16.4 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. Thirteen of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, date2022-09-28

MOTIE attends CEM13 and MI-7 to deepen global partnership for clean energy

Trade, Industry and Energy Ministry’s Energy Industry Deputy Minister Cheon Young-gil attended the 13th Clean Energy Ministerial (CEM13) and 7th Mission Innovation Ministerial (MI-7) on September 21-23 in Pittsburg, U.S., representing South Korea. CEM was first launched in 2010 with aim to expand the distribution of clean energy and member states total 30 as of 2022. MI was launched in 2015 to expand clean energy R&D, and member states total 23 as of 2022. South Korea has participated date2022-09-26