Ministry of Trade, Industry and Energy

Clean hydrogen-fueled buses to run on Jeju Island

The Ministry of Trade, Industry, and Energy (MOTIE) held the hydrogen bus launching ceremony on October 23 on Jeju Island announcing the establishment of Korea’s first comprehensive ecosystem of the clean hydrogen lifecycle spanning production, transportation, and utilization. MOTIE has been working to develop a system through the seawater electrolysis demonstration project connected with renewable energy since 2020 for stable and economic production of hydrogen. Currently, at the seawate date2023-10-25

Korea and Ethiopia strengthen cooperative foundation to mark 60 years of diplomatic relations

Trade, Industry and Energy Minister Bang Moon Kyu visited Addis Ababa, Ethiopia, as a Special Presidential Envoy on October 20, leading an economic delegation of 35 persons from 14 public and private organizations and companies. The economic delegation was composed of representatives from the Export-Import Bank of Korea, Korea Electric Power Corporation (KEPCO), Korea Trade-Investment Promotion Agency (KOTRA), Korea Institute for Advancement of Technology (KIAT), LG Electronics, SK Gas, POSCO In date2023-10-25

Korea and Saudi agree to widen scope of clean hydrogen cooperation

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 22 that on the occasion of the Korea-Saudi summit meeting in Riyadh, a number of energy institutions, companies and MOTIE entered two agreements and five memorandums of understanding (MOU) with Saudi counterparts. First, MOTIE’s Minister Bang Moon Kyu and Saudi Energy Minister Prince Abdulaziz bin Salman signed the “Korea-Saudi Hydrogen Oasis Cooperation Initiative” MOU on behalf of the two countries&rsquo date2023-10-24

Korea and Saudi Arabia hold trade show on occasion of President Yoon's state visit

The Ministry of Trade, Industry and Energy (MOTIE) hosted the Korea-Saudi Trade Show (organized by the Korea Trade-Investment Promotion Agency (KOTRA)) on October 22 at the Riyadh Fairmont Hotel in Saudi Arabia on the occasion of President Yoon Suk Yeol’s state visit, where approximately 30 middle-market firms and SMEs, along with 78 Saudi buyers and client companies, held a total of 190 plus one-on-one business meetings in major bilateral cooperation areas like plant, construction, eco-fr date2023-10-23

Korean delegation to participate in WTO's SOM ahead of MC13

The Trade, Industry and Energy Ministry’s Director General for Multilateral Trade and Legal Affairs will be heading the Korean delegation attending the World Trade Organization (WTO) Senior Officials Meeting (SOM) held through October 23-24 in Geneva in preparation for the upcoming ministerial meetings (MC13) in Abu Dhabi in February next year. On the first day of SOM on October 23, attendees will discuss various issues that require the WTO headquarters’ guidance and direction for s date2023-10-23

Korea and GCC to kick off 8th official negotiating round for FTA

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 22 that Korea and the six Middle Eastern countries of the Gulf Cooperation Council (GCC) are holding the eighth round of official negotiations for the Korea-GCC free trade agreement (FTA) through October 23-27 in Seoul. The Korean delegation is headed by MOTIE’s Director General for FTA Negotiations Chang Sung-gil and composed of approximately 30 relevant ministries’ officials, including those from the Ministry date2023-10-23

MOTIE holds 15th Smart Start Bio Investor Briefing

The Ministry of Trade, Industry and Energy (MOTIE) held the 15th Smart Start Bio Investor Briefing on October 19 in Seoul together with the Korea Biotechnology Industry Organization and New Industry Organization for Investment to support the stable growth of top bio companies and help resolve their financial challenges. Bio is an area that requires continued investment since much time and cost go into the entire process from development to licensing and production. Korea Exchange (KRX) personne date2023-10-19

Korea to kick-start Carbon-Free Energy Initiative

Korean President Yoon Suk Yeol, during his keynote speech at the United Nations General Assembly on September 20 (local time), proposed the launching of a Carbon Free (CF) Alliance as an open platform for resolving the climate gap between advanced and developing nations and for the global spread of carbon-free energy. Accordingly, the inaugural assembly of the CF Alliance was held on October 12, composed of major Korean companies. On October 19, Korean Prime Minister Han Duck-soo chaired the m date2023-10-19