Ministry of Trade, Industry and Energy

Korea-Qatar business partnerships take off in energy & new industries

Hosted by the Ministry of Trade, Industry and Energy (MOTIE) and organized by the Korea Trade-Investment Promotion Agency (KOTRA) on October 25 at the St. Regis Doha, the “Korea-Qatar Business Partnership” trade show was launched to serve as a venue for 117 one-on-one meetings between 20 Korean SMEs and middle-market companies and 54 Qatari companies in energy, plant, construction, smart farm, smart city and bio. The trade show is expected to further not only traditional cooper date2023-10-27

Korea and Canada discuss cooperation in critical minerals for batteries

Deputy Minister for Trade Yang Byeong-nae met Mark Schaan, Canada’s Senior Assistant Deputy Minister for Strategy and Innovation Policy at the Department of Innovation, Science and Economic Development (ISED) on October 25 in Korea to discuss measures to strengthen bilateral cooperation in economy and trade. Deputy Trade Minister Yang stated that following the U.S. Inflation Reduction Act (IRA)’s entry into force and Korean companies’ growing awareness of the importance of Can date2023-10-27

Korea, China, Japan & Vietnam to strengthen digital materials development cooperation

The Ministry of Trade, Industry and Energy (MOTIE) held the Asian Materials Data Symposium 2023 at the Interburgo Hotel Daegu through October 25-26, and pushed materials data cooperation with major institutions of the U.S., China, Japan, Vietnam, Taiwan and Germany. The U.S., Japan and China are among a number of countries that have been preemptively developing digital materials through data accumulation, and their respective presenters spoke on major success cases at the symposium. Meanwhile, date2023-10-27

Trade Minister visits Kazakhstan & Armenia as Special Presidential Envoy

Minister for Trade Dukgeun Ahn visited Kazakhstan and Armenia through October 23-24 as a Special Presidential Envoy to strengthen substantial economic cooperation with the Commonwealth of Independent States (CIS), the strategic importance of which is recently increasing. The trade chief led an economic delegation composed of 27 representatives of both public and private sectors, including those from the Ministry of Trade, Industry and Energy (MOTIE), Korean embassies in Russia and Kazakhstan, K date2023-10-27

MOTIE and U.S. Bureau of Industry & Security discuss industrial security cooperation

Trade, Industry and Energy Vice Minister Youngjin Jang met with Alan F. Estevez, U.S. Under Secretary of Commerce for Industry and Security, on October 24 in Seoul to discuss semiconductor export control, sanctions against Russia, multilateral export controls and other bilateral trade issues. Vice Minister Jang assessed that Korean companies’ investment and management uncertainties of operating in China have been mitigated by the U.S.’ designation of Samsung Electronics’ and S date2023-10-26

MOTIE hosts Carbon Korea 2023

Carbon Korea 2023, hosted by the Ministry of Trade, Industry and Energy (MOTIE) and co-organized by the Korea Carbon and Nano Industry Association and Korea Carbon Industry Promotion Agency, is being held through October 24-26 at the aT Center in Seoul. Now in its third year, Carbon Korea 2023 hosts various events under the theme of “Carbon Materials, Toward a Sustainable Future”, including exhibitions, conferences and an MOU signing ceremony between Korean and U.S. institutions. T date2023-10-26

Leading advanced materials company ups investment in Korea

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 23 that Toray Industries, the world’s leading company in carbon fiber composite materials headquartered in Japan, held the groundbreaking ceremony for the construction of a carbon fiber production plant in Gumi in North Gyeongsang Province, Korea. Since 1972, Toray Industries has invested a total of USD 1 billion in various areas in Korea, including engineering plastics and carbon fiber. Following the beginning of car date2023-10-25

Korea and Saudi build up industry-wide economic cooperation momentum

Trade, Industry and Energy Minister Bang Moon Kyu and Saudi Investment Minister Khalid A. Al-Falih attended the Korea-Saudi Investment Forum on October 22 in Saudi Arabia, co-hosted by the Federation of Korean Industries (FKI) and the Saudi Investment Ministry, where a total of 40 memorandums of understanding (MOUs) and six agreements were sealed. In energy, a total of seven agreements and MOUs were entered for joint projects on crude oil stockpiling and bid participation, along with three hydr date2023-10-25