Ministry of Trade, Industry and Energy

MOTIE holds Industry Conference in response to CHIPS Act

Trade, Industry and Energy Minister Lee Chang-yang held the Semiconductors, Cars and Batteries Industry Conference (hereinafter “Conference”) in Seoul on August 25 to seek public-private joint countermeasures in response to the U.S.’ recently passed CHIPS Act (Creating Helpful Incentives to Produce Semiconductors for America Act) and the Inflation Reduction Act. The CHIPS Act enables maximum 25 percent investment tax credits to companies making new investments in U.S. semicond date2022-08-25

Trade Minister holds meeting for public-private joint exports cooperation

Trade Minister Ahn Duk-geun held a meeting on August 24 to assess South Korea’s exports situation amid the rising exchange rate and concerns of exports slowdown, and discussed recent global economic changes and countermeasures for second-half exports vitalization. Minister Ahn remarked that exports’ continuous rise for 21 consecutive months leading up to July was somewhat offset by the greater surge of energy imports, resulting in a trade deficit. As of June, exports growth shrank t date2022-08-25

MOTIE holds Eco-Friendly Textiles Industry Conference

Trade, Industry and Energy 1st Vice Minister Jang Young-jin held the Eco-Friendly Textiles Industry Conference on August 24 at COEX in Seoul to seek public-private joint measures for eco-friendly, low-carbon strategies in response to global green trends in the fashion enterprise. The global textiles market is seeing emerging trends of environmental regulations, consumer awareness of environmental values and global fashion brands’ pursuit of sustainable development, all of which forecast a date2022-08-24

2nd Vice Minister attends 19th Energy Day lights-out event

Trade, Industry and Energy 2nd Vice Minister Park Il-jun attended on August 22 the 19th Energy Day, hosted by the Korea NGO’s Energy Network and sponsored by the Ministry, an event held since 2004 with the aim to raise awareness on the importance of energy and streamlining energy supply, under the theme of “Turn Off the Lights and Look at the Stars.” For the event, major landmark venues across the nation had a five-minute lights-out time, an hour of two-degrees higher air cond date2022-08-23

Korea and Australia hold 31st Joint Committee on Energy and Mineral Resources

The Ministry of Trade, Industry and Energy (MOTIE) co-hosted the 31st Korea-Australia Joint Committee on Energy and Mineral Resources (hereinafter “JCEM”) with Australia’s Department of Climate Change, Environment, Energy and Water, (DCCEEW) and Department of Industry, Science and Resources (DISR) at the Lotte Hotel Seoul on August 22. JCEM is the official communication channel run since the 1980s on energy and mineral resources issues between Korea and Australia. The 31st mee date2022-08-23

Minister holds conference with top 3 shipbuilder CEOs

Trade, Industry and Energy Minister Lee Chang-yang held a conference with the CEOs of top three domestic shipbuilders on August 19 to discuss key issues and future goals for Korea’s shipyard. The three shipbuilders represented at the conference are Korea Shipbuilding & Offshore Engineering (KSOE), Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries (SHI). One major issue raised by the CEOs was the difficulty of finding quality human resources to take on p date2022-08-19

MOTIE kicks off Nuclear Energy Exports Strategy Committee

Trade, Industry and Energy Minister Lee Chang-yang kicked off the public-private joint Nuclear Energy Exports Strategy Committee (hereinafter “Committee”) and presided its first meeting on August 18. The Committee is composed of approximately 30 distinguished specialists, consisting of Deputy Minister-level officials from nine other relevant ministries, as well as public institution professionals and private industry-academia experts. Some major tasks for this Committee will be th date2022-08-18

Minister Lee holds Promising Industries Exporters Conference

Trade, Industry and Energy Minister Lee Chang-yang visited the Osong Life Science National Complex on August 16 to assess tenant companies’ trade status and to discuss measures for invigorating exports. Coming against the backdrop of surging prices of energy and raw materials, the Russia-Ukraine war, trade balance challenges, global economic slowdowns, supply chain uncertainties and interest rate hikes, Minister Lee’s visit aims to seek measures to further vitalize South Korea&rsquo date2022-08-17