Ministry of Trade, Industry and Energy

Minister Lee visits Poland to further nuclear and energy cooperation

Trade, Industry and Energy Minister Lee Chang-yang visited Poland on June 30 to discuss nuclear power, defense and high-tech bilateral collaboration with Anna Moskwa, Minister of Climate and Environment and Ryszard Terlecki, the Parliamentary Caucus Head of the Law and Justice party. Minister Lee’s Poland visit is on the heels of President Yoon’s June 29 visit and promotion of South Korea’s nuclear power development capacity. Minister Lee’s visit was accompanied by the D date2022-07-01

Korea and Czech Republic hold talks on nuclear energy cooperation

Trade, Industry and Energy Minister Lee Chang-yang visited the Czech Republic on June 28, his first overseas visit since taking office on occasion of the “Korean Nuclear & High-Tech Day 2022,” and held talks with his counterpart Jozef Síkela, the Czech Industry and Trade Minister on bilateral cooperation in nuclear energy and other various areas. The Czech Republic launched a tender in March of this year of its nuclear power plant project, which aims for completion by 20 date2022-06-29

Korea's retail sales gain 10.1% in May

The Ministry of Trade, Industry and Energy announced on June 28 that Korea’s overall retail sales in May saw a year-on-year growth of 10.1 percent. Both offline and online sales surged, up 9.3 percent and 11.0 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. Thirteen of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, and four “super supermarket&rdqu date2022-06-29

Korea and Spain sign Industrial Technology and International Cooperation MOU

The Ministry of Trade, Industry and Energy (MOTIE) signed the Korea-Spain Industrial Technology and International Cooperation MOU with Spain’s Ministry for Science and Innovation (MICIN) on June 24 in Madrid, Spain. On occasion of this MOU, South Korea and Spain decided to deepen cooperation in areas like future automobiles and high-tech industries. This entails establishing bilateral R&D programs in addition to Eureka projects, and expanding the existing cooperation in nanomaterials date2022-06-27

MOTIE launches public-private IPEF joint strategy session

The Ministry of Trade, Industry and Energy (MOTIE) launched the Indo-Pacific Economic Framework (IPEF) public-private strategy group and held its first plenary session on June 23 at the Korea Chamber of Commerce and Industry (KCCI). A total of 14 countries are participants of the framework, including South Korea, the U.S., Japan, Australia, New Zealand, Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam, India and Fiji. The first meeting saw economic organizations, majo date2022-06-27

Korea-Saudi Ministers discuss energy cooperation

Trade, Industry and Energy Minister Lee Chang-yang held a videoconference with Saudi Arabia’s Energy Minister Prince Abdulaziz Bin Salman on June 23, on the occasion of the Saudi Minister’s congratulatory message for Minister Lee’s taking office. Minister Lee expressed his gratitude in return, then the two Ministers discussed energy supply chain stability, hydrogen and other future issues for Korea-Saudi energy cooperation. Noting how Saudi Arabia is South Korea’s large date2022-06-27

Minister Lee holds 25th Energy Commission meeting

Trade, Industry and Energy Minister Lee Chang-yang held the 25th Energy Commission meeting at the Plaza Hotel Seoul on June 23, the first of its kind under the new regime. Launched in 2006, the Energy Commission is headed by the Trade, Industry and Energy Minister and consists of relevant ministries’ officials and civil members. The recent meeting had two agenda items, namely the new regime’s energy policy directions and market-based efficiency enhancement measures. Noting South Ko date2022-06-24

Korea becomes first Asian country to gain full membership of Eureka

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 22 that South Korea became the first Asian country to be granted full membership of the world’s largest R&D platform Eureka at the 2022 general assembly held in Lisbon, Portugal. With an amendment of articles, Eureka membership is now open to non-European nations, South Korea and Canada are the first nations to obtain community membership. South Korea is also the first Asian country to become full member. South Kor date2022-06-23