Ministry of Trade, Industry and Energy

Korea's retail sales grow 5.9% in July

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced on August 29 that Korea’s retail sales in July achieved an overall growth of 5.9 percent, year-on-year. Offline and online sales both expanded, by 3.9 percent and 8.1 percent, respectively, with July being the first summer holidays season since complete lifting of social distancing. MOTIE releases monthly retail sales figures based on surveys of 25 major retailers. Thirteen of them are brick-and-m date2023-08-30

Korea forms public-private cooperation system to secure high-tech chip packaging technology

The Republic of Korea’s Trade, Industry and Energy Ministry’s Industrial Policy Office Deputy Minister Joo Young-joon chaired a memorandum of understanding (MOU) signing ceremony for public-private joint semiconductor high-tech packaging technology development with a view to secure advanced packaging industrial competitiveness. Representatives of semiconductor buyer companies like Samsung Electronics, SK Hynix, outsourced semiconductor assembly and test (OSAT) companies and fabless date2023-08-30

Korea to seek measures for nurturing local high-tech industries

The Republic of Korea’s Trade, Industry and Energy Vice Minister Youngjin Jang visited Entegris Korea, an MPE (materials, parts, equipment) manufacturer, on August 29 in Wonju in Gangwon Province and attended the Gangwon High-Tech Development Strategy Forum 2023 to discuss measures for Gangwon Province to contribute to nurturing advanced industries, such as semiconductors, bio and future mobility. Entegris Korea is a company specializing in semiconductor MPEs, including specialty gases, v date2023-08-29

Korea launches Global Star Fabless Project

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) held the Global Star Fabless Project launching ceremony on August 28 at the Gyeonggi Business Growth Center. One of the two major pillars of the chip industry along with foundries, the semiconductor design sector’s need for highly skilled technology and know-how serves to heighten its market barrier, with 90 percent of the global market shared by the world’s top 30 companies as of 2022. Accordingly, the Ko date2023-08-29

Korea holds public hearing on entering EPAs with 7 countries

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) held a public hearing on August 25 at Hotel Koreana in Seoul to gather public opinion concerning the Economic Partnership Agreements (EPAs) with seven nations, namely Kenya, Tanzania, Morocco, Thailand, Pakistan, Serbia and the Dominican Republic. MOTIE’s Deputy Minister for FTA Negotiations Roh Keon-ki stated in the opening message that “based on the experience of establishing a trade network consisting of date2023-08-28

Korea discusses expanding trade cooperation with G20 countries

The Republic of Korea’s Minister for Trade Dukgeun Ahn held bilateral talks with trade ministers of nine major countries as well as the World Trade Organization (WTO) Director-General on the occasion of the G20 Trade and Investment Ministerial Meetings (TIMM) held in Jaipur, India, through August 24-25. Trade Minister Ahn first held talks with the U.S. Trade Representative Katherine Tai and reconfirmed the willingness to commit to advancing the Indo-Pacific Economic Framework for Prosperi date2023-08-25

Korea and Poland discuss measures to bolster trade and industrial cooperation

The Republic of Korea’s Trade, Industry and Energy Minister Chang-Yang Lee held talks with Poland’s Economic Development and Technology Minister Waldemar Buda on August 23 in Seoul to discuss trade, investment, EU laws and measures for bolstering cooperation between the two countries. The two ministers agreed that on the occasion of the state visit made in July, Korea-Poland trade and investment cooperation base, as well as cooperation in nuclear energy, defense and infrastruct date2023-08-24

Korea to speak on inclusive trade & supply chain resiliency at G20 meeting

The Republic of Korea’s Minister for Trade Dukgeun Ahn will attend the G20 Trade and Investment Ministerial Meeting (TIMM) in Jaipur, India, from August 24-25 to discuss inclusive trade, World Trade Organization (WTO) reform, trade and investment for global value chain resiliency, small and medium-sized companies’ participation in international trade, and trade logistics, among other agenda items with G20 member states’ trade ministers. In the first session on the theme of mul date2023-08-24