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Centers for Korea-U.S. advanced industry and technology cooperation open across top U.S. universities
The Ministry of Trade, Industry and Energy (MOTIE) launched the Korea-US Advanced Industry and Technology Cooperation Forum 2024 in Washington D.C. and held the opening ceremony of Korea-U.S. Industry and Technology Cooperation Centers at Yale University, Purdue University, Johns Hopkins University, and Georgia Institute of Technology. The Forum was attended by approximately 200 persons, including MOTIE Minister Dukgeun Ahn, U.S. Deputy Secretary of Commerce Don Graves, representatives of both countries' governments, companies, academia, and research institutions. Beginning in the latter half of this year, MOTIE will set to work on mid-to-large scale (app. KRW 10 bln), mid-to-long term (5 yrs max) global joint R&D projects in order to secure far-reaching next-generation growth engines as part of the ministry’s ongoing efforts for international cooperation in advanced technology areas. Korean companies expressed strong interest in global technology collaboration, with 247 consortiums entering into competition over this year’s 45 project tasks. Six more universities will be selected for the establishment of cooperation centers at a total of 12 universities by 2027 in addition to the six previously selected, namely Massachusetts Institute of Technology (MIT), Yale University, Purdue University, Johns Hopkins University, Fraunhofer, and Georgia Institute of Technology. The cooperation centers are to be utilized for uncovering promising joint projects for R&D planning and researcher matching between U.S. universities and Korean companies. Each of the selected universities will be assigning coordinators fully in charge of these projects and provide R&D space and other forms of support. In his welcome address, Minister Ahn highlighted that solidarity and cooperation among friendly nations are essential for responding to the global multicrisis and shared the ministry’s aim to lead the achieve industrial innovation through a solid bilateral technology alliance based on the cooperation centers. date2024-06-28
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Joint Statement on Japan-Republic of Korea-United States Commerce and Industry Ministerial Meeting
Joint Statement Japan-Republic of Korea-United States Commerce and Industry Ministerial Meeting June 26, 2024 – Washington, D.C. We, U.S. Secretary of Commerce Gina Raimondo; Japanese Minister of Economy, Trade, and Industry Saito Ken; and Republic of Korea (ROK) Minister of Trade, Industry, and Energy Ahn Duk-geun met in Washington today for the inaugural meeting of Commerce and Industry Ministers. United by the vision established by our three leaders at their historic Trilateral Summit at Camp David on August 18, 2023, we resolve to focus our joint efforts on a set of strategic areas designed to enhance the security and prosperity of our people and the Indo-Pacific region. Our shared intent is to leverage this trilateral mechanism to promote the development of critical and emerging technologies and strengthen the security and resiliency of our economies. Recognizing these two goals are intertwined, we aim to prioritize cooperation to strengthen the resilience of supply chains in key sectors, including semiconductors and batteries; and to promote the Principles on Resilient and Reliable Supply Chains, namely, transparency, diversification, security, sustainability, and trustworthiness and reliability. Together, we seek to deepen our coordination of export controls on advanced technologies; enhance private sector partnerships for collaborative research and innovation related to advanced industrial technologies; advance efforts to develop international standards and ensure safe, secure, and trustworthy use of artificial intelligence (AI); expand collaboration on critical and emerging technologies and on critical minerals; work together to strengthen economic security; and support long-term economic cooperation among the partners to support operationalizing the Indo-Pacific Economic Framework for Prosperity (IPEF). As part of these efforts, there is an urgency to our three sides working closely together to identify potential supply chain vulnerabilities for strategic goods that have resulted from a wide range of non-market policies and practices. We share concerns over the weaponization of economic dependencies on certain supply sources for strategic goods. To address the resulting, systemic vulnerabilities stemming from such dependencies, we intend to promote a level playing field through more closely coordinated efforts – including working together, and with other partners, on relevant criteria that take into account not only economic factors, but also factors linked to the Principles on Resilient and Reliable Supply Chains. Semiconductors: We reaffirm our recognition of the essential role that semiconductors play in a wide range of industries and applications important to the growth of our economies and preservation of our national security. We note our shared interest in building resilient semiconductor supply chains and aim to accelerate cooperation to achieve this goal. Clean Energy: Recognizing the need to reduce the carbon intensity and overall greenhouse gas emissions of our respective economies, we reaffirm the importance of trilateral cooperation to strengthen global battery supply chains. In addition, we concur that clean/zero emission and low-carbon hydrogen and its derivatives, such as clean ammonia, will play an essential role in the decarbonization of a wide variety of sectors. Towards that end, we intend to cooperate to promote the development of secure and resilient global supply chains for clean/zero emission and low-carbon hydrogen and its derivatives, including the consideration of their carbon intensity, and to explore how the three ministries that we lead can enhance cooperation on low- and/or carbon-free energy emissions technologies, including clean/zero emission and low-carbon hydrogen and its derivatives. Critical Minerals: We further reaffirm the importance of increasing the availa date2024-06-27
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Ewha Womans University and Syensqo celebrate 10 years of industry-academia cooperation
Minister for Trade Inkyo Cheong attended the decennial anniversary ceremony of Ewha-Syensqo Research & Innovation (R&I) Center on June 27 in Seoul in commemoration of the 10-year academia and industry cooperation between Ewha Womans University and leading global materials company Syensqo. Formerly known as Solvay, Syensqo established the Rhodia Silica Korea in Incheon in 1975 and the specialty chemicals business headquarters in Korea in 2011, followed by its global R&I Center at Ewha Womans University in 2014. The Ewha-Syensqo R&I Center is a successful case of foreign direct investment (FDI) attraction based on trilateral cooperation among the Government, university, and businesses, which contributes to creating quality jobs in automobile and electronics related industries through R&D in battery and green hydrogen, ultimately building up Korea’s future industrial competitiveness. At the ceremony, Ewha Womans University and Syensqo sealed a memorandum of understanding (MOU) on the pledged support of over KRW 5 billion in science, technology, engineering, and mathematics (STEM) areas, and held a symposium for both looking back on the outcomes from the past and looking forward to those of another coming decade. Syensqo has thus far invested over ₩6.6 billion in research and scholarship funding. In his congratulatory message, Trade Minister Cheong said that the Korean government has newly launched an R&D project exclusively for foreign-invested firms in order to better support global companies’ R&D investments, and that the project will be further expanded to allow more foreign-invested firms to participate in the advanced industrial technology innovations in Korea. date2024-06-27
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Korea and U.S. to expand clean energy cooperation
The U.S.-ROK Clean Energy Forum was held at the Marriott Marquis Hotel in Washington, D.C., on June 25 as a part of both nations' dedication to accelerating the clean energy transition, expanding clean electricity deployment and building clean energy economies, which the two leaders agreed upon in April last year. About 80 participants from the two governments, industry, academia, and research attended the forum. The thematic sessions covered advanced battery technology development and demonstration, energy storage systems (ESS) to expand clean electricity; clean energy investment and financing; electricity power grid innovation for a reliable, resilient, stable, and affordable system; and commercialization and deployment of clean hydrogen technologies, including mobility, supply chain, and certification. These discussions among government officials and experts from industry, academia, and laboratories illuminated the vast opportunities and challenges for bilateral cooperation in each of these areas, painting a promising picture for the future of clean energy. In his congratulatory address, Minister Dukgeun Ahn reiterated the importance of the forum, stating that "We have a valuable opportunity to unlock further potential for Korea and the United States to engage in mutual efforts towards a clean energy future while the Korean private sector has responded to the attractive IRA incentives by investing in the United States." He also proposed to "regularize the U.S.-ROK Clean Energy Forum and continue the energy policy dialogue at the Ministerial level. By strengthening our energy cooperation, I am confident that we can achieve energy security and address the climate crisis facing our world together." date2024-06-27
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Korea and Japan discuss measures for implementing summit outcomes on margins of Washington trilateral
Trade, Industry and Energy Minister Dukgeun Ahn met Japanese Minister of Economy, Trade, and Industry Saito Ken on June 26 in Washington D.C. on the margins of the Korea-U.S.-Japan trilateral industry ministers’ meeting and discussed measures for implementation of agreed outcomes of the Korea-Japan summit held this May. The delegations of both sides welcomed the launching of the recent inaugural Hydrogen Cooperation Dialogue in Seoul and agreed on installing the Clean Hydrogen and Ammonia Supply Chain Development Working Group and on nurturing public-private cooperation through the “Korea-Japan Hydrogen and Ammonia Supply Chain and Utilization Cooperation Platform (tentative)” and other means. The two sides also agreed to consult with experts for a more detailed cooperation on the Carbon Free Energy (CFE) Initiative and highly assessed the Korea-Japan Global Green Cooperation Working Group held this May and decided to bolster joint response. The Korean and Japanese delegations agreed to continue their supply chain discussions across major industries while also making concerted efforts to stabilize the global supply chain for critical minerals. Lastly, they discussed measures for cooperation in key multilateral initiatives like the Indo-Pacific Economic Framework for Prosperity (IPEF) and the World Trade Organization (WTO), as well as the Korea-Japan-China and Korea-U.S.-Japan multilateral consultations. date2024-06-27
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U.S.-based advanced industry & energy firms pledge $0.6 bln investments in Korea
The Ministry of Trade, Industry and Energy (MOTIE) announced on June 26 that three U.S companies (ON Semiconductor, Corning, Pacifico Energy) submitted declarations of investment in Korea totaling USD 0.6 billion (KRW 850 billion) on the occasion of Minister Dukgeun Ahn’s visit to Washington D.C for the inaugural Korea-U.S.-Japan trilateral industrial ministers' meeting. ON Semiconductor is a leading power semiconductor company that completed the expansion of its silicon carbide (SiC) fabrication plant in Bucheon last October, with plans to further expand production facilities through this investment. SiC is a high voltage- and high temperature-durable next-generation material in which ON Semiconductor holds expertise. The company has been making large-scale investments in Korea since 2022 after choosing the Bucheon plant as its SiC power semiconductor manufacturing hub. Corning is a global firm in advanced materials like specialty glass, ceramics, and fiber-optic cable for displays and mobile devices. Having invested over an estimated $9.3 billion (₩13 trillion) in Korea over the past five decades, Corning plans to invest in upgrading its Corning Precision Materials facility located in Asan, South Chungcheong Province, for next-generation processing technology applications. Based in California, Pacifico Energy currently operates solar and wind power projects in the U.S., Japan, and Vietnam, and is aiming to build a large-scale 3.2GW offshore wind power complex in South Jeolla Province of Korea. The first U.S. energy firm to enter Korea’s offshore wind power market, Pacifico Energy’s investment success is anticipated to become the symbol of Korea-U.S. clean energy cooperation. Minister Ahn stated that full measure will be given to make sure the investments help strengthen the two countries’ advanced industrial supply chain cooperation and energy security. date2024-06-27
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Korea discusses bilateral EPAs with Pakistan, Bangladesh, Serbia, and Dominican Republic
Minister for Trade Inkyo Cheong held a conference on June 26 with the ambassadors to Korea of Pakistan, Bangladesh, Serbia, and the Dominican Republic to discuss measures for forging bilateral Economic Partnership Agreements (EPAs). MOTIE is currently making effort to diversify supply chains and secure critical mineral resources through flexible and extensive cooperation via EPAs, with plans to further expand the trade network to cover a wider range of emerging markets following Georgia, Mongolia, Thailand, and Tanzania, countries with which Korea is presently engaging in negotiations for bilateral EPAs. Trade Minister Cheong stated that Pakistan, Bangladesh, Serbia, and the Dominican Republic “hold prominent strategic value in terms of population, growth potential, and resources,” and added that Korea intends to enlarge the scope of economic cooperative ties with these countries in various areas through EPAs. The four countries’ ambassadors to Korea agreed to actively cooperate in pushing for bilateral EPAs, sharing the view that the Agreements will serve as a firm institutional foundation for not only trade and investment growth but also for the fundamental development of their economic cooperative relations. date2024-06-26
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International Light Convergence Expo 2024 launches at KINTEX, Ilsan
The Ministry of Trade, Industry and Energy (MOTIE) is holding the opening ceremony of the International Light Convergence Expo 2024 (June 26–28) at KINTEX in Ilsan on June 26. Now in its 22nd year as Korea’s largest light convergence industry exhibition, International Light Convergence Expo 2024 is launched with the participation of 150 relevant companies and institutions. The Expo will be running buyer consultation sessions to support new market entry, showcase Korea’s latest light convergence technologies, and facilitate discussions on business strategies through an industrial forum. Based on LED and laser technology, light convergence creates technological and market value through convergence with other industries and serves as a key foundational technology for ushering in future and advanced industries’ new sectors. The opening ceremony is attended by 60 persons, including lawmaker Kim Sung-won, MOTIE officials, and related companies and institutions’ representatives. Contributors to the light convergence sector are awarded government commendations for developing new technologies and achieving other advancements. The Presidential Commendation Award goes to Optoelec for developing ultrasmall optical devices for semiconductor manufacturing and the Prime Minister’s Commendation to SCL for developing high-efficiency smart lighting technology. The MOTIE Minister’s Commendation is awarded to four researchers at KIEL Institute for their contribution to the light convergence industry’s technological development. date2024-06-26