Ministry of Trade, Industry and Energy

Trade Minister attends WTO's Ottawa Group ministerial meeting

Minister for Trade Dukgeun Ahn attended the World Trade Organization’s Ottawa Group ministerial videoconference held on December 16 to seek joint measures for WTO reform as follow-up to the discussions held during the 12th ministerial meetings (MC12) in June. Trade Minister Ahn stated that the time leading up to the next WTO ministerial meeting is a critical hour that will determine either success or failure of WTO reform, and called for member states to participate in talks with a sense date2022-12-20

MOTIE holds Battery Alliance Industrial Competitiveness Breakout Session

The Ministry of Trade, Industry and Energy (MOTIE)'s Deputy Minister for the Office of Industrial Policy Joo Young-joon held the Battery Alliance Industrial Competitiveness Breakout Session on December 15 at the Korea Chamber of Commerce and Industry (KCCI) to facilitate public-private discussions on secondary battery industry issues and seek joint solutions. The session covered various topics including the U.S.’ Inflation Reduction Act (IRA), global supply chain, investment issues and th date2022-12-20

MOTIE holds completion ceremony of Shin Hanul 1

The Ministry of Trade, Industry and Energy (MOTIE) held the Shin Hanul 1 completion ceremony in Uljin, North Gyeongsang Province, on December 14 with local residents and domestic and overseas nuclear industry personnel. Shin Hanul 1 is the 27th commercial nuclear plant in Korea and its model type is APR1400, Korea’s next generation nuclear power plant model. Completion of Shin Hanul 1 is significant in terms of energy and trade security. As Shin Hanul 1 is capable of supplying a quarter date2022-12-16

Korea's ICT exports drop 22.5% in November

The Ministry of Trade, Industry and Energy announced on December 15 that November exports of Korea’s information and communications technology (ICT) products dropped 22.5 percent to USD 16.7 billion. Imports gained 0.6 percent to $12.8 billion, and the trade balance stood at a surplus of $3.8 billion. ICT exports contracted as both demand and production diminished. Exports of semiconductors, displays, mobile phones, computers and peripherals declined due to global economic slowdown, whil date2022-12-15

Trade Minister holds 13th pan-ministerial exports support group conference

Minister for Trade Dukgeun Ahn led the pan-ministerial exports support group on December 13 to ICONIX in Pangyo to inspect site operations and held the 13th exporters' on-site conference. The exports support group was launched following the first exports strategy meeting presided by President Yoon Suk-yeol on November 23, and the group participation has been widened to all major ministries. Trade Minister Ahn congratulated the company ICONIX for winning this year’s “USD 10 million date2022-12-14

MOTIE holds Digital Trade International Conference 2022

Minister for Trade Dukgeun Ahn attended the Digital Trade International Conference 2022 hosted by the Ministry of Trade, Industry and Energy (MOTIE) on December 12 at COEX in Seoul, held under the theme of “Opportunities and Challenges of Digital Trade.” Various digital trade experts from the World Trade Organization (WTO), Organization for Economic Cooperation and Development (OECD) and other international bodies, universities, research institutions and law firms gathered at the co date2022-12-14

Korea's automobile export value grows 31.0% in November

The Ministry of Trade, Industry and Energy announced on December 12 that Korea’s automobile production, domestic sales and exports (units) all recorded double-digit growth of 25.4 percent, 8.4 percent and 25.0 percent, respectively. Automobile exports in value increased 31.0 percent to USD 5.4 billion. This is the fourth consecutive month for all the indices above to show growth. Automobile output in November climbed 25.4 percent to 379,797 units, rising for the seventh consecutive mont date2022-12-13

Korea attends 1st official round of IPEF negotiations

Trade, Industry and Energy Ministry’s Deputy Minister for Trade Negotiations Kim Jeong-hoi is heading the Korean delegation attending the first official round of negotiations of the Indo-Pacific Economic Framework for Prosperity (IPEF) in Australia through December 10-15 to discuss supply chain, digital, clean energy and other new trade issues that are gaining in importance since the pandemic. The delegation is composed of officials from the Ministry of Trade, Industry and Energy (MOTIE), date2022-12-13