Ministry of Trade, Industry and Energy

Minister Ahn chairs Super Supplier Project Conference

Trade, Industry and Energy Minister Dukgeun Ahn chaired the Super Supplier Project Conference on August 20 at EO Technics in Anyang, where he announced the Korean government’s measures for nurturing materials, parts, and equipment (MPE) companies into “Super Suppliers” that are capable of wielding absolute dominance over the global supply chain. The conference was attended by representatives of domestic MPE firms and relevant institutions, including Jahwa Electronics, PI Advanced Materials, the Korea Trade-Investment Promotion Agency (KOTRA) and Korea Evaluation Institute of Industrial Technology (KEIT). date2024-08-20

MOTIE to launch Super Supplier Project

Trade, Industry and Energy Minister Dukgeun Ahn chaired the Super Supplier Project Conference on August 20 at EO Technics in Anyang, where he announced the Korean government’s measures for nurturing materials, parts, and equipment (MPE) companies into “Super Suppliers” that are capable of wielding absolute dominance over the global supply chain. The conference was attended by representatives of domestic MPE firms and relevant institutions, including Jahwa Electronics, PI Advanced Materials, Korea Trade-Investment Promotion Agency (KOTRA) and Korea Evaluation Institute of Industrial Technology (KEIT). The term "Super Supplier" (from Korean expression "Super Eul") refers to a market-leading company that has established a prominent status in the global supply chain based on unrivaled technological prowess. A good example of a super supplier would be the Dutch company ASML, the world’s exclusive producer of photolithography machines. The Ministry of Trade, Industry and Energy (MOTIE) plans to concentrate support to help homegrown MPE firms grow into super suppliers through the following triple “super” package: Super R&D, Super Pass, and Super Growth.  First, MOTIE will provide exclusive R&D support to MPE companies for their development of the world’s first or most advanced supply chain chokepoint technologies. The Super Supplier R&D Committee, composed of Korea’s top experts in areas of technology, market and investment, will evaluate companies based on their R&D growth strategy roadmap to select grant recipients of a seven-year program funding the R&D process from prior technology to commercialization to subsequent technology. For early commercialization and global market penetration, the ministry will manage a Super Pass program that threads together services in patenting, standardization, certification, global buyer matching, and export assistance. It will also give stronger backing for obtaining patent grants from the Trilateral Offices and prioritized support towards performance assessments on overseas mass production, while providing tailored export assistance programs by leveraging KOTRA’s market research and Global Partnering (GP) Centers. Furthermore, MOTIE intends to launch a Super Growth Package that offers financial, investment, and tax incentives as well as infrastructure support. In 2025, the Government will create a Super Supplier Growth Fund, while also making effort to increase the number of MPE testbeds and digital simulation platforms to reduce the materials development cycle time. In the fourth quarter of this year, MOTIE plans to announce its MPE Industry Growth Support Strategy incorporating additional measures based on opinions from industry insiders and experts.   date2024-08-20

Korea’s automobile exports log $5.4 bln in July

The Ministry of Trade, Industry and Energy (MOTIE) announced that Korea’s automobile exports for the month of July 2024 reached USD 5.4 billion (down 9.1 percent year-on-year), coming in at an all-time second highest for the month of July. The accumulated value of automobile exports through January–July this year amounts to a historic $42.4 billion (up 2.0 percent year-on-year). July exports of automobile parts recorded $2.2 billion (up 9.5 percent), the first time in seven years and eight months to surpass the $2.2 billion mark. Meanwhile, the number of automobiles produced in Korea during July added up to 290,910 units (down 17.6 percent year-on-year). The decline is attributed to major domestic automakers’ wage and collective bargaining agreement (CBA) negotiations, coinciding with summer breaks concentrated in the last week of July. Production is anticipated to revive in August along with the higher number of working days for the industry. Domestic sales contracted 2.7 percent to 132,396 units. Despite Korean automobiles falling 6.0 percent in domestic sales, the top 10 models sold in July were all homegrown cars. Eco-friendly car sales jumped 19.1 percent to 50,325 units, among which hybrid electric vehicles (HEVs) showed a steep climb of 22.4 percent and led the green car market. With the Special Act on Future Automotive Parts Industry Transition and Ecosystem Development having entered into force on July 10 in Korea, MOTIE is mulling various measures to support domestic car parts companies’ transition to future mobility, while also actively seeking to resolve issues faced by exporting businesses.   date2024-08-16

Korea’s ICT exports rise 32.8% in July

The Ministry of Trade, Industry and Energy (MOTIE) announced that Korea’s export and import of information and communication technology (ICT) goods reached USD 19.4 billion and $12.1 billion, respectively, for the month of July 2024. The trade balance stood at a surplus of $7.3 billion. Backed by robust exports of main items like semiconductors, displays, mobile phones, and computers/peripherals, ICT exports for July advanced 32.8 percent year-on-year, their growth rate entering the 30 percent thresholds for four months straight since April. Semiconductors (up 49.0 percent), displays (up 2.0 percent), mobile phones (up 69.4 percent), and computers/peripherals (up 51.1 percent) were among the major items driving growth. By region, exports were seen climbing across most destinations, including China (including Hong Kong) (up 31.1 percent), Vietnam (up 23.7 percent), the U.S. (up 40.1 percent), and the EU (up 23.5 percent). Meanwhile, Korea’s July import of ICT goods increased 6.0 percent year-on-year as demand for semiconductors, displays, and other key components increased.   date2024-08-16

19th International Standards Olympiad Closing Ceremony

Korean Agency for Technology and Standards (KATS) President Jin Jong-wook awarded the Singaporean team KOPI the Prime Minister’s Award for winning the Platinum Prize in the 19th International Standards Olympiad on August 14 in Asan and gave a closing address to 120 students from 11 countries. date2024-08-16

19th International Standards Olympiad successfully closes with competition and harmony among young standards talent

The Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy (MOTIE) announced the successful closing of the 19th International Standards Olympiad on August 14 in Asan, Cheonan, with the participation of an all-time high total of 200 students and teachers from 11 countries around the world in the global three-day event. For the main competition, 40 teams consisting of middle and high school students engaged in the competition through presentations and international standard document drafting on advanced technology products used in daily life, such as measures to evaluate the performance of smart devices’ voice recognition (middle school teams) and ethical guidelines on the utilization of artificial intelligence (AI) technology (high school teams). Based on the judges’ results, Team KOPI from Singapore won the highest score and took the Platinum Prize, receiving the Prime Minister’s Award for its proposed international standard document on ethical AI utilization. Four teams (Korea, Malaysia, Singapore, Uzbekistan) won the gold prize and were awarded the Trade, Industry and Energy Minister’s Award. date2024-08-14

K-Display 2024 opening ceremony

Deputy Minister for Industry Policy Lee Seung-ryeol attended K-Display 2024 on August 14 at COEX in Seoul, held with the participation of 157 companies, and awarded LG Display with Governmental commendations and toured the exhibition booths featuring OLED and other latest technologies. date2024-08-14

Next-generation display standardization roadmap sets out to secure global technology super gap

The Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy (MOTIE) held the international forum on display standardization “K-Display 2024” on August 14 at COEX in Seoul with the participation of industry, academia, and R&D experts from around the world, and announced the Next-Generation Display Standardization Roadmap (“Roadmap”). The designing of the Roadmap began last year as part of the Government’s strategy announced this May for the standardization of Korea’s advanced industries, by gathering opinions via display standardization forums, expert committees, and related conferences involving industry insiders, academia, and researchers. As major standardization candidate technologies, the Roadmap has selected organic light emitting diodes (OLEDs), implantable light-emitting diodes (iLEDs), and other materials and parts deemed essential for securing new market leadership in the global display industry. It further proposes to set eight of domestic companies’ technologies as international standards by 2027, while also presenting strategies for the development of 11 national standard technologies on providing corporate assistance, such as in test evaluations.  Homegrown candidate technologies for international standards were uncovered based on corporate demand. In the OLED category, the Roadmap includes three technologies, including those on rollable display form factor change and augmented and virtual reality (AR/VR) display performance evaluation. Selected for the iLEDs category are also three technologies, including those on dynamic and optical properties measurement. The materials and parts category includes two technologies, including one on the mechanical properties measurement of ultra-thin glass. At K-Display 2024, experts from Korea, Germany, and the U.S. introduced measurement solutions for automotive displays and extended reality (XR) display performance standards, followed by presentations and discussions on standardization trends in carbon neutrality. date2024-08-14

Minister Ahn chairs textile and fashion industry conference

Trade, Industry and Energy Minister Dukgeun Ahn chaired a conference on August 13 at the Textile Center in Seoul with Korea’s textile and fashion companies and relevant experts, where he announced the Textile and Fashion Industry Competitiveness Strategy and discussed industry issues and future directions.   Attending the conference were representatives of relevant institutions, academia, and companies, including the Korea Federation of Textile Industries (KOFOTI), Hyosung TNC, and Kolon Industries. date2024-08-13

Korea’s textile and fashion industry eyeing new growth via strategy tailored to build global competitiveness

Trade, Industry and Energy Minister Dukgeun Ahn held a conference on August 13 at the Textile Center in Seoul with Korea’s textile and fashion companies and relevant experts, where he announced the Textile and Fashion Industry Competitiveness Strategy (“Strategy”) and discussed industry issues and future directions. The Strategy was established with aim to effectively respond to the following industry trends: the rapid growth of the industrial textile market, the accelerating demand for eco-friendly transition led by advanced countries, and the diffusion of the digital transformation (DX) across all areas, including product planning, production, and logistics. The Ministry of Trade, Industry and Energy (MOTIE) is focused on leveraging the Strategy to nurture advanced industrial textiles, facilitate the eco-friendly transition of the textile and fashion value chain, diffuse the application of artificial intelligence (AI) and digital technology, and bolster the textile and fashion industrial base. The objective is to help the domestic industry overcome production contractions as latecomer countries are gaining ground and by 2030, expand the current 2-3 percent global market share of industrial and eco-friendly textiles to 10 percent and raise the level of digital transformation from the current 35 percent to 60 percent, to develop Korea into a textile and fashion powerhouse. First up, MOTIE is aiming to upgrade the textile and fashion industry by nurturing the advanced industrial textiles sector. To this end, the ministry plans to prioritize the development of key technologies in advanced industrial textiles to world-class level by 2030, including high-performance aramids, high-strength carbon fibers, extreme-condition resistant marine fibers, import-dependent advanced eco-friendly textiles, and next-generation electronic communication textiles. Moreover, starting in the latter half of this year, an Industrial Textile Alliance will be launched to uncover promising products and technologies, while a Tech Textile Product Certification Evaluation Support Center will be established next year to assist the credibility verification on industrial textile quality and performance. Meanwhile, a KRW 2.9 trillion policy funding will be used this year for supporting the technical consulting and facility investment efforts of apparel companies that incorporate industrial textiles in their product portfolio. Second, MOTIE will assist the eco-friendly transition of the textile and fashion industry value chain, for which the ministry aims to secure technologies on fiber-to-fiber textile recycling, plant-based vegan leather and such biomass fibers, and biodegradable (at least 90 percent) fiber manufacturing by 2030. Not only that, but ₩31 billion will be injected into developing technologies for waterless dyeing, wastewater reduction, and improving energy efficiency to support the green and low-carbon transition of textile production processes, and also go towards providing waste heat recovery facility to more than 200 SMEs by 2026. Furthermore, the ministry plans to establish and distribute the “Carbon Emissions Measurement Standardization Model” by 2026 and introduce the K-Eco Design Guidelines in 2025 (to enforce in 2027) to promote the recycling and use of eco-friendly materials in textile and apparel manufacturing. Third, MOTIE aims to accelerate the application of AI technology and digital transformation. By 2026, the ministry intends to develop an AI system for harnessing data and AI in new product planning that would shorten the design period by over 80 percent, while also laying the initial groundwork this year for a Connected Micro Factory that would enable high-speed production based on business collaborations. Automation facilities will be supplied to over 250 companies by 2028 for processes that are repetitive and in severe lack of manpower. Two more Meta Fashion Playgroun date2024-08-13