Ministry of Trade, Industry and Energy

Minister Lee attends ceremony marking world's 1st 3nm chip shipment

Trade, Industry and Energy Minister Lee Chang-yang attended the ceremony held at Samsung Electronics Hwaseong Campus on July 25 to mark the first shipment of 3-nanometer chips and congratulated the historic milestone, ensuring government support in line with the Ministry’s recently announced national semiconductor powerhouse strategy. Samsung Electronics’ accomplishment is meaningful in that the 3-nanometer semiconductor mass production is a global first, a step faster than even the date2022-07-26

426th Korea Trade Commission gives preliminary determination on anti-dumping investigations

The Ministry of Trade, Industry, and Energy (MOTIE) held the 426th Korea Trade Commission (hereinafter “Commission”) meeting on July 21, where Chairperson Chang Seung-wha announced a positive preliminary determination on anti-dumping investigations on imports of polyamide film from China, Thailand and Indonesia, as well as aluminum hydroxide from China and Australia, and proposed the imposing of provisional duties. First of all, the Commission determined that the amount of evidence date2022-07-26

Trade Minister attends Supply Chain Ministerial Meeting 2022

Trade Minister Ahn Duk-geun attended the Supply Chain Ministerial Meeting 2022 on July 20 with South Korea’s Foreign Minister Park Jin, which was co-hosted by U.S. Secretary of State Antony Blinken and Secretary of Commerce Gina Raimondo to discuss measures for enhancing global supply chain resilience and to adopt a joint statement. Convened via videoconferencing, the meeting was attended by ministers of the EU and 17 countries: South Korea, the U.S., Japan, France, Germany, Italy, date2022-07-21

MOTIE announces amended cash grant program to attract FDI

The Ministry of Trade, Industry and Energy (MOTIE) announced on July 18 the amended version of its Foreign Investment Committee (FIC)-approved cash grant program for stimulating foreign investment in high-tech and supply chain areas. The amendment is in line with the recently announced work report MOTIE submitted to President Yoon Suk-yeol regarding “growth-oriented industrial strategies,” which aim to bolster cash grant programs to increase FDI in strong spill-over sector date2022-07-19

Korea's auto exports value gains 3.2% in H1 2022

The Ministry of Trade, Industry and Energy (MOTIE) announced on July 15 that Korea’s automobile output dropped 2.0 percent, while exports rose 1.5 percent by unit during the first six months (H1) of 2022. By value, exports increased 3.2 percent in H1 2022. Despite intensifying supply chain difficulties and domestic strikes of truckers, eco-friendly automobile exports and unit price increase are attributable factors of the growth. Automobile chips’ supply chain bottlenecks and China date2022-07-18

FDI pledges to Korea reach $11.1 billion in H1 2022

The Ministry of Trade, Industry and Energy (MOTIE) announced on July 15 that foreign direct investments (FDIs) pledged to Korea in the first half of 2022 fell 15.6 percent year-on-year to USD 11.1 billion. FDIs that actually arrived in Korea over the same period also dropped 21.1 percent to $7.0 billion. In contrast, the number of pledges and arrivals both increased. Pledges and arrivals by count rose by 10.1 percent and 12.1 percent to 1,640 and 1,183, respectively. The decline in amount is a date2022-07-15

Korea's ICT exports hit all-time highs for both June and H1

The Ministry of Trade, Industry and Energy (MOTIE) announced on July 14 that South Korea’s information and communications technology (ICT) industry exported a record amount of goods for both the month of June and for first half (H1) of 2022. For June, Korea’s ICT exports amounted to USD 20.7 billion (up 7.3 percent year-on-year), making it the highest exporting June in history. Imports stand at $13.1 (13.05) billion (up 23.3 percent), recording $7.7 (7.65) billion in trade surplus. date2022-07-14

Korea and China hold FTA follow-up negotiations on service and investment

The Ministry of Trade, Industry and Energy (MOTIE) held Korea-China FTA service and investment follow-up negotiations at chief delegate-level on July 13 via teleconferencing. MOTIE’s chief FTA negotiator Lee Kyung-sik led the Korean delegation, and Director-General Yu Benlin of China’s Department of International Trade and Economic Affairs led the Chinese delegation, adding up to 20 attendees in total. The two countries have held nine negotiation rounds and meetings since March in date2022-07-13