Ministry of Trade, Industry and Energy

Vice Minister meets with promising nuclear energy project partners on sidelines of UNFCCC COP28

Trade, Industry and Energy Vice Minister Kang Kyungsung met with potential nuclear energy partner countries on the sidelines of the United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP28) through December 1-2 to discuss prospects for nuclear reactor projects and requested their participation in Korea’s carbon-free energy (CFE) initiatives. Vice Minister Kang first met with Ditte Juul Jørgensen, Director-General for Energy at the European Com date2023-12-04

Korea seeks measures for development and economic cooperation through EPAs

The Ministry of Trade, Industry and Energy (MOTIE) held the “4th New FTA Strategy Forum” on December 1 together with the Korean Association of Trade and Industry Studies (KATIS) to develop negotiation strategies for Economic Partnership Agreements (EPA) currently being pushed by the Korean government with other countries. An EPA is a trade agreement focusing on strengthening global trade solidarities, enhancing supply chain resiliency for resources like critical minerals and promoti date2023-12-04

Korea signs on to climate action initiatives at COP28 in Dubai

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 1 that the Korean delegation attended the United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP28) summit held in Dubai through December 1-2 to participate in the five initiatives led and chaired by the United Arab Emirates (UAE), namely global renewables and energy efficiency, mutual recognition of low-carbon hydrogen certification schemes, agriculture and food, healthcare and multil date2023-12-04

Korea to participate in the officially inaugurated Climate Club

The Ministry of Trade, Industry and Energy (MOTIE) announced the official launching of the “Climate Club” on December 1 on the occasion of the ongoing United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP28) held in Dubai through November 30-December 12, in the attendance of various key figures including Korea’s Special Presidential Envoy Cho Hong-sik, Germany’s Prime Minister Olaf Scholz and European Commission President Ursula von date2023-12-04

Korea's exports grow 7.8% in November

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 1 that Korea’s export value for the month of November advanced 7.8 percent year-on-year to this year’s monthly highest of USD 55.8 billion. Imports shrank 11.6 percent to $52.0 billion, and the trade balance stood at a surplus of $3.8 billion. By item, semiconductors snapped the 15-month losing streak and posted growth of 12.9 percent, attributed to the rising fixed price of memory chips. As new smartphone mode date2023-12-01

Trade Minister discusses IRA issues with U.S.' NSC Deputy National Security Advisor

Minister for Trade Dukgeun Ahn met with Mike Pyle, the Deputy National Security Advisor for International Economic Affairs at the U.S.’ National Security Council (NSC), on November 30 in Seoul and discussed bilateral trade issues between Korea and the U.S., including the Inflation Reduction Act (IRA), CHIPS Act subsidies, and Section 232 steel tariffs. The two sides shared the view that the Korea-U.S. alliance, based on the bilateral summit in April and the Korea-U.S.-Japan tril date2023-12-01

Public and private sectors join heads to seek measures for invigorating facility investment

The Ministry of Trade, Industry and Energy (MOTIE) held an investment conference on November 30 with companies of Korea’s ten major manufacturing sectors to discuss facility investment trends for this year, as well as investment issues and plans for invigorating next year’s facility investment support. On reviewing the KRW 100 trillion investment plans of the ten manufacturing sectors that MOTIE proposed at the beginning of this year, approximately 66 percent of the planned investme date2023-11-30

Government and industry join hands for securing graphite supply chain stability

Industrial Policy Director General Lee Seung-ryeol at the Ministry of Trade, Industry and Energy (MOTIE) chaired the public-private joint graphite supply chain inspection meeting on November 30 at the Korea Chamber of Commerce and Industry (KCCI), where the Government and industry representatives agreed to work closely together in responding to China’s control measures that will take effect on December 1. The meeting was attended by representatives of the Ministry of Economy and Finance ( date2023-11-30