Ministry of Trade, Industry and Energy

Minister Lee inspects power companies for stable summer power supply

Trade, Industry, and Energy Minister Lee Chang-yang visited the Korea Power Exchange (KPE) Gyeongin Branch located in Uiwang, Gyeonggi-do on June 15 to inspect the preparation status for the summer power supply by the Korea Electric Power Corporation, Korea Power Exchange, and other power generation companies. The on-site inspection took place to check each organization’s progress on the “Summer Season Power Supply Outlook and Measures” decided at the Ministerial Conference on date2023-06-22

MOTIE launches World Expo 2030 Busan campaign in Paris

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 21 that a number of promotion campaigns had been launched in France from June 20-21 to attract interest and support for World Expo 2030 Busan on the occasion of the 172nd general assembly of the Bureau International des Expositions (BIE) and official reception organized for World Expo 2030 Busan. First, an 850m-long eco-friendly pathway connecting the general assembly hall and reception hall was named “Busan Road”, date2023-06-22

MOTIE launches Project CE (Circular Economy) 9

The Ministry of Trade, Industry and Energy (MOTIE) announced the 'Strategy for Industrial New Growth through Invigoration of Circular Economy' during the emergency ministerial meeting on economic affairs held on June 21, presided by Korea’s Deputy Prime Minister Choo Kyung-ho. MOTIE is pushing for the swift spread of circular economy across all industries to support companies’ shift towards carbon neutrality and efforts to develop new sources of competitiveness, as well as to secure date2023-06-21

Korea and Japan to bolster policy cooperation in hydrogen

Trade, Industry and Energy Ministry’s Director-General for Hydrogen Economy Policy Bureau Lee Ok-heon met with Hiro Inoue, Japan’s Economy, Trade and Industry Ministry (METI)’s Director-General of the Energy Conservation and Renewable Energy Department, to discuss measures for policy cooperation in hydrogen safety and related industries. The director-generals agreed on the need for hydrogen energy in the shared goal of achieving carbon neutrality, and exchanged views on Korea& date2023-06-21

MOTIE and KOTRA hold investment promotion event in Tokyo

The Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) held an event in Tokyo on June 15 to promote Korea’s investment environment as well as opportunities for Korea-Japan joint business collaborations to the Japanese MPE (materials, parts, equipment) firms in advanced industries like semiconductors, secondary batteries and displays. The promotion event consisted of an investor roundtable and investment briefing, and personnel from appro date2023-06-21

Korea and Ecuador agree to expand cooperation and investment

Minister for Trade Dukgeun Ahn met with Ecuador's Production, Foreign Trade, Investments and Fisheries Minister Julio José Prado on June 15 in Seoul and had extensive discussions on various measures to strengthen economic cooperation between the two countries, including the progress of negotiations on the Korea-Ecuador Strategic Economic Cooperation Agreement (SECA), trade and investment, and supply chain collaboration. Since the two countries resumed negotiations for the Korea-Ecuador S date2023-06-20

Korea and Qatar agree to expand investment cooperation

Trade, Industry and Energy Minister Lee Chang-yang held a High-Level Strategic Consultation Committee meeting with Qatari Minister of Commerce and Industry H.E. Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani in Seoul on June 15. The meeting was held for the first time in four years since 2019. The high-level visit to Korea was attended by Qatar’s Sovereign Wealth Fund (ranked 9th globally) for the first time, creating an opportunity to expand the bilateral cooperation from ind date2023-06-19

Korea's auto exports record $6.2 billion in May

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 15 that Korea’s automobile exports for May reached a total of USD 6.2 billion, recording a historic high for May monthly exports and entering the $6 billion thresholds for the third consecutive month. Eco-friendly cars, which are higher in unit price, recorded $2.1 billion (up 64.3 percent) in exports for May, driving up the entire automobile exports. Normalization of automotive semiconductors and other parts supply la date2023-06-19