Ministry of Trade, Industry and Energy

CF Alliance to push the use of all carbon-free energy sources for carbon neutrality

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 29 that Dr. Hoesung Lee, former Chair of the Intergovernmental Panel on Climate Change (IPCC) and incumbent Carbon Free (CF) Alliance Chairman, led a press briefing and conference to introduce the outcomes gained from over the last three months since the launch of the CF Alliance in October last year, which include a score of bilateral and multilateral exchanges, as well as support towards the Carbon-Free Energy (CFE) Initia date2024-01-29

MOTIE and KPX lay out blueprint for Korea's electricity market

The Ministry of Trade, Industry and Energy (MOTIE) hosted a briefing session focusing on measures to improve Korea’s electricity market in 2024 on January 26 at COEX in Seoul, organized by Korea Power Exchange (KPX). The briefing was attended by approximately 150 persons from electric power industries, the academia and related institutions. The briefing aimed at covering the latest market trends, forecasting future changes, introducing improvement directions and other issues for the elect date2024-01-29

Korea and China to launch joint research project for improving bilateral FTA implementation

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 24 that research institutes of Korea and China are to launch a joint research project for improving the implementation of the Korea-China Free Trade Agreement (FTA). During the fifth Korea-China FTA Joint Committee meeting held on December 4 in 2023 in Beijing, the two countries’ chief delegates agreed to launch a joint research program for improving the implementation of the bilateral FTA in 2025, the year marking th date2024-01-24

Korea and UK hold first official negotiating round for upgrading bilateral FTA

Director General for FTA Policy Ahn Chang-yong at the Ministry of Trade, Industry and Energy (MOTIE) is heading the Korean delegation in the first round of official negotiations on upgrading the Korea-UK Free Trade Agreement (FTA) to be held through January 23-25 in Seoul. The UK delegation is led by Adam Fenn, Chief Negotiator at the UK's Department for Business and Trade. The existing Korea-UK FTA is the first FTA sealed with Asia by the UK in proceeding with Brexit and is assessed to have dr date2024-01-23

Anti-dumping duties on stainless steel bars terminate after 2 decades of imposition

The Korea Trade Commission under the Ministry of Trade, Industry and Energy (MOTIE) announced on January 21 that the imposition of anti-dumping duties on Japanese, Indian and Spanish stainless steel bars initiated since July 30, 2004, is to end on January 22, 2024, as SeAH Changwon Integrated Special Steel and other domestic producers have not requested for review. Moreover, as domestic producers have likewise not asked for a review on Taiwanese and Italian stainless steel bars, on which anti-d date2024-01-22

MOTIE to push 4 major measures for industrial and energy R&D innovation

Trade, Industry and Energy Minister Dukgeun Ahn chaired the R&D Innovation Roundtable on January 18 at the Samsung Seoul R&D Campus and announced measures for innovation and strategic investment in industrial and energy R&D. After 20 separate meetings with approximately 500 researchers, the Ministry of Trade, Industry and Energy (MOTIE) has laid down four major measures for innovation. First, MOTIE will provide concentrated assistance for world-leading R&D projects that aim for date2024-01-19

Deputy Trade Minister and U.S.' Solid Power COO discuss next-gen battery cooperation

Deputy Minister for Trade Yang Byeong-nae met with Derek Johnson, the Chief Operating Officer (COO) of Solid Power, on January 18 at the Ministry of Trade, Industry and Energy (MOTIE) to discuss measures for cooperation in next-generation battery areas. Solid Power is a U.S.-based firm known for its leading all-solid-state battery technology that has recently entered memorandums of understanding (MOUs) with a number of Korea’s private companies and public institutions like SK On date2024-01-18

Middle-market enterprises respond with positive economic forecast for Q1 2024

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 18 the results of the economic forecast survey on Korea's middle-market enterprises for the first quarter (Q1) of 2024. MOTIE conducts the survey on a quarterly basis on approximately 800 middle-market companies. The survey revealed that six major indices, namely overall economy (up 3.2 percentage points to 92.7), exports (up 3.5 percentage points to 97.6), domestic demand (up 0.2 percentage points to 90.5), operating profi date2024-01-18