Ministry of Trade, Industry and Energy

Korea, China, Japan & Vietnam to strengthen digital materials development cooperation

The Ministry of Trade, Industry and Energy (MOTIE) held the Asian Materials Data Symposium 2023 at the Interburgo Hotel Daegu through October 25-26, and pushed materials data cooperation with major institutions of the U.S., China, Japan, Vietnam, Taiwan and Germany. The U.S., Japan and China are among a number of countries that have been preemptively developing digital materials through data accumulation, and their respective presenters spoke on major success cases at the symposium. Meanwhile, date2023-10-27

Trade Minister visits Kazakhstan & Armenia as Special Presidential Envoy

Minister for Trade Dukgeun Ahn visited Kazakhstan and Armenia through October 23-24 as a Special Presidential Envoy to strengthen substantial economic cooperation with the Commonwealth of Independent States (CIS), the strategic importance of which is recently increasing. The trade chief led an economic delegation composed of 27 representatives of both public and private sectors, including those from the Ministry of Trade, Industry and Energy (MOTIE), Korean embassies in Russia and Kazakhstan, K date2023-10-27

MOTIE and U.S. Bureau of Industry & Security discuss industrial security cooperation

Trade, Industry and Energy Vice Minister Youngjin Jang met with Alan F. Estevez, U.S. Under Secretary of Commerce for Industry and Security, on October 24 in Seoul to discuss semiconductor export control, sanctions against Russia, multilateral export controls and other bilateral trade issues. Vice Minister Jang assessed that Korean companies’ investment and management uncertainties of operating in China have been mitigated by the U.S.’ designation of Samsung Electronics’ and S date2023-10-26

MOTIE hosts Carbon Korea 2023

Carbon Korea 2023, hosted by the Ministry of Trade, Industry and Energy (MOTIE) and co-organized by the Korea Carbon and Nano Industry Association and Korea Carbon Industry Promotion Agency, is being held through October 24-26 at the aT Center in Seoul. Now in its third year, Carbon Korea 2023 hosts various events under the theme of “Carbon Materials, Toward a Sustainable Future”, including exhibitions, conferences and an MOU signing ceremony between Korean and U.S. institutions. T date2023-10-26

Leading advanced materials company ups investment in Korea

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 23 that Toray Industries, the world’s leading company in carbon fiber composite materials headquartered in Japan, held the groundbreaking ceremony for the construction of a carbon fiber production plant in Gumi in North Gyeongsang Province, Korea. Since 1972, Toray Industries has invested a total of USD 1 billion in various areas in Korea, including engineering plastics and carbon fiber. Following the beginning of car date2023-10-25

Korea and Saudi build up industry-wide economic cooperation momentum

Trade, Industry and Energy Minister Bang Moon Kyu and Saudi Investment Minister Khalid A. Al-Falih attended the Korea-Saudi Investment Forum on October 22 in Saudi Arabia, co-hosted by the Federation of Korean Industries (FKI) and the Saudi Investment Ministry, where a total of 40 memorandums of understanding (MOUs) and six agreements were sealed. In energy, a total of seven agreements and MOUs were entered for joint projects on crude oil stockpiling and bid participation, along with three hydr date2023-10-25

Clean hydrogen-fueled buses to run on Jeju Island

The Ministry of Trade, Industry, and Energy (MOTIE) held the hydrogen bus launching ceremony on October 23 on Jeju Island announcing the establishment of Korea’s first comprehensive ecosystem of the clean hydrogen lifecycle spanning production, transportation, and utilization. MOTIE has been working to develop a system through the seawater electrolysis demonstration project connected with renewable energy since 2020 for stable and economic production of hydrogen. Currently, at the seawate date2023-10-25

Korea and Ethiopia strengthen cooperative foundation to mark 60 years of diplomatic relations

Trade, Industry and Energy Minister Bang Moon Kyu visited Addis Ababa, Ethiopia, as a Special Presidential Envoy on October 20, leading an economic delegation of 35 persons from 14 public and private organizations and companies. The economic delegation was composed of representatives from the Export-Import Bank of Korea, Korea Electric Power Corporation (KEPCO), Korea Trade-Investment Promotion Agency (KOTRA), Korea Institute for Advancement of Technology (KIAT), LG Electronics, SK Gas, POSCO In date2023-10-25