Ministry of Trade, Industry and Energy

Korea and Indonesia to bolster cooperation in battery supply chain

Trade, Industry and Energy Deputy Trade Minister Yang Byeong-nae met Septian Hario Seto, the Deputy Minister for Indonesia’s Coordinating Ministry for Maritime and Investment Affairs, on January 17 at Signiel Seoul to discuss measures to strengthen economic cooperation between Korea and Indonesia. Viewing that bilateral relations have grown closer than ever through the four summit meetings following President Yoon Suk Yeol’s taking office, Deputy Minister Yang highlighted that he lo date2024-01-17

Korea's ICT exports grow 8.1% in December

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 16 that Korea's exports and imports of information and communications technology (ICT) goods for December 2023 recorded USD 18.3 billion (up 8.1 percent year-on-year) and $10.9 billion (down 7.2 percent), respectively. The trade balance stood at a surplus of $7.3 billion. Semiconductor exports, driven by the steep climb of memory chips (up 57.5 percent to $7.0 billion), posted double-digit growth for the second consecutive date2024-01-17

Blueprint for robot industry development 2024-2028 is out

The Ministry of Trade, Industry and Energy (MOTIE) announced the finalized Fourth Intelligent Robot Basic Plan (2024-2028) through the Robot Industry Policy Deliberation Committee Meeting held on January 16 as part of implementing the advanced robot industry’s vision and strategy announced in December 2023, based on the Intelligent Robots Development and Distribution Promotion Act. The Basic Plan is to be established and enforced by MOTIE on a five-year basis. The global society today is date2024-01-16

Korea's auto exports in 2023 surpass previous record by over 30%

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 16 that the annual export value of automobiles hit a record-breaking USD 70.9 billion in 2023, surpassing the previous record of $54.1 billion in 2022 by over 30 percent. The achievement is attributed to the strategic expansion of the proportion of high value-added eco-friendly cars (up 51 percent year-on-year to $24.2 billion) in automotive exports in step with the global shift towards green and automation. The export unit date2024-01-16

MOTIE and MSIT hold joint public forum on measures for nurturing world's largest chip cluster

The Ministry of Trade, Industry and Energy (MOTIE) and Ministry of Science and ICT (MSIT) held a joint discussion forum on measures for nurturing the world’s largest semiconductor mega cluster on January 15 with the participation of 110 civilians, composed of students, young researchers, residents of mega cluster districts and semiconductor industry workers under the theme of “Semiconductor Industry for Enriching Public Livelihood.” The “Mega Cluster” area refers t date2024-01-16

Integrated Korean exhibition garners success at CES 2024

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 14 that the Korean exhibition at Consumer Electrics Show (CES) 2024 garnered much attention from foreign buyers thanks to the integrated brand value of Korean firms and their technological innovations. Key figures of global companies, including Microsoft Chairman and CEO Satya Nadella, paid their visit to the Korean exhibition at CES 2024, in which an all-time high number of 443 Korean firms participated this year. To note, date2024-01-15

Korea Trade Commission launches investigations into alleged patent infringement of Chinese secondary batteries and cathodes

The Korea Trade Commission ('Commission') held the 444th Trade Commission Meeting on January 11 at the Government Complex Sejong for launching investigations on the alleged patent infringement of NCM811 cathode materials produced in China and of smartphones embedded with Chinese secondary batteries. The investigations on the smartphone secondary batteries were requested by another Chinese firm that supplies China-made smartphones and Semiconductor Energy Laboratory Co., a Japanese importer and date2024-01-12

Semiconductors to spearhead Korea's export growth in 2024

Trade, Industry and Energy Minister Dukgeun Ahn visited SK Hynix, one of Korea’s major semiconductor producers, on January 11 and listened to the challenges experienced by industry personnel and inspected production lines firsthand, refreshing the resolution to promote Korea’s exports this year on the heels of the visit to a major automaker at Pyeongtaek Port on his first outing after taking office. At the conference held at SK Hynix, Minister Ahn stated that “despite the glob date2024-01-11