Ministry of Trade, Industry and Energy

Korea signs on to climate action initiatives at COP28 in Dubai

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 1 that the Korean delegation attended the United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP28) summit held in Dubai through December 1-2 to participate in the five initiatives led and chaired by the United Arab Emirates (UAE), namely global renewables and energy efficiency, mutual recognition of low-carbon hydrogen certification schemes, agriculture and food, healthcare and multil date2023-12-04

Korea to participate in the officially inaugurated Climate Club

The Ministry of Trade, Industry and Energy (MOTIE) announced the official launching of the “Climate Club” on December 1 on the occasion of the ongoing United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP28) held in Dubai through November 30-December 12, in the attendance of various key figures including Korea’s Special Presidential Envoy Cho Hong-sik, Germany’s Prime Minister Olaf Scholz and European Commission President Ursula von date2023-12-04

Korea's exports grow 7.8% in November

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 1 that Korea’s export value for the month of November advanced 7.8 percent year-on-year to this year’s monthly highest of USD 55.8 billion. Imports shrank 11.6 percent to $52.0 billion, and the trade balance stood at a surplus of $3.8 billion. By item, semiconductors snapped the 15-month losing streak and posted growth of 12.9 percent, attributed to the rising fixed price of memory chips. As new smartphone mode date2023-12-01

Trade Minister discusses IRA issues with U.S.' NSC Deputy National Security Advisor

Minister for Trade Dukgeun Ahn met with Mike Pyle, the Deputy National Security Advisor for International Economic Affairs at the U.S.’ National Security Council (NSC), on November 30 in Seoul and discussed bilateral trade issues between Korea and the U.S., including the Inflation Reduction Act (IRA), CHIPS Act subsidies, and Section 232 steel tariffs. The two sides shared the view that the Korea-U.S. alliance, based on the bilateral summit in April and the Korea-U.S.-Japan tril date2023-12-01

Public and private sectors join heads to seek measures for invigorating facility investment

The Ministry of Trade, Industry and Energy (MOTIE) held an investment conference on November 30 with companies of Korea’s ten major manufacturing sectors to discuss facility investment trends for this year, as well as investment issues and plans for invigorating next year’s facility investment support. On reviewing the KRW 100 trillion investment plans of the ten manufacturing sectors that MOTIE proposed at the beginning of this year, approximately 66 percent of the planned investme date2023-11-30

Government and industry join hands for securing graphite supply chain stability

Industrial Policy Director General Lee Seung-ryeol at the Ministry of Trade, Industry and Energy (MOTIE) chaired the public-private joint graphite supply chain inspection meeting on November 30 at the Korea Chamber of Commerce and Industry (KCCI), where the Government and industry representatives agreed to work closely together in responding to China’s control measures that will take effect on December 1. The meeting was attended by representatives of the Ministry of Economy and Finance ( date2023-11-30

Korea to launch Connected Mobility Alliance for hyperconnected mobility technological convergence

The Ministry of Trade, Industry and Energy (MOTIE) held a general meeting of the public-private Connected Mobility Alliance on November 30 at the Songdo Convensia for nurturing an ecosystem for the connected mobility industry. Approximately 250 representatives of industry, academia and research areas in automobile, self-driving, semiconductor, communications and software gathered at the event to seriously push forward cooperative efforts across differing sectors, such as automobiles and inform date2023-11-30

3rd Innovative Energy Startup C-Tech Forum held to boost growth of energy startups

The Ministry of Trade, Industry and Energy (MOTIE) is holding the 3rd Innovative Energy Startup C-Tech Forum at the FKI Tower in Seoul on November 30, serving as a venue for business consultations to promote growth of SMEs and startups in energy industries. Approximately 150 representatives of SMEs and startups in the energy and climate sectors, finance and investment institutions, government-funded research institutes, and universities gathered to attend the launching ceremony of the Asso date2023-11-30