Ministry of Trade Industry and Resources

Design Korea 2023 showcases 800 companies' works of K-design

Hosted by the Ministry of Trade, Industry and Energy (MOTIE) and organized by the Korea Institute of Design Promotion (KIDP), Design Korea 2023 is held through November 1-5 at COEX in Seoul this week. Launched in 2003 and now arriving at its 21st anniversary, Design Korea is one of Korea’s largest and most long-standing design events featuring approximately 2,000 products designed by 800 companies this year. Under the theme of “Designing for Better World: Dot, Line, Circle”, date2023-11-03

Industry, academia, and R&D experts come together at DXcon 2023

The Ministry of Trade, Industry and Energy (MOTIE) held the Industrial Digital Transformation Conference (DXcon) 2023 on November 1, where experts from industries, universities, and research institutes gathered to share achievements and explore future pathways in industrial digital transformation (DX). During the morning keynote speech and panel discussions, distinguished experts in digital transformation engaged in discussions under the theme of “The Present and Future Triggered by Indu date2023-11-03

Korea and U.S. discuss collaboration on additive manufacturing (3D printing)

The Ministry of Trade, Industry and Energy (MOTIE) the U.S. Department of Commerce (DOC) held the “Additive Manufacturing Industry Showcase” on October 31 for cooperation on additive manufacturing (3D printing). This event was orchestrated to foster mutual understanding and explore cooperative measures in the additive manufacturing sectors of both countries, following the Korea-U.S. Supply Chain Industrial Dialogue (SCCD) held last April. The SCCD is a communication channel between date2023-11-03

Rare earth permanent magnets for EV motors to be home grown

  Trade, Industry and Energy Vice Minister Youngjin Jang attended the completion ceremony of Sunglim Advanced Industrial’s Hyunpoong Plant on October 27. The plant will pioneer the first-ever domestic production of neodymium-based rare earth permanent magnets. The Hyunpoong Plant will be producing approximately 1,000 metric tons of rare earth permanent magnets on an annual basis (sufficient for app. 500,000 electric vehicles), which is expected to reduce reliance on other countries date2023-11-01

Korea's retail industry advances 9.5% in September

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 30 that Korea’s retail sales for September gained an overall growth of 9.5 percent year-on-year. Offline sales increased by 7.2 percent, as the Chuseok holidays boosted demand across all retail channels, with hypermarkets (up 10.0 percent) and “super supermarket (SSM)” operators (up 11.3 percent) at the helm. Online sales leaped 12.0 percent, with sales of food products (up 32.0 percent) growing on the ba date2023-11-01

Korea Eureka Day 2023 launched in Seoul

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 30 that the Korea Eureka Day 2023 is held through October 30-November 1 at the Lotte Hotel Seoul with the participation of approximately 100 persons from 12 countries, namely the UK, France, Germany, Switzerland, Spain, Canada, Turkey, Austria, Sweden, the Netherlands, Belgium and Poland. Eureka is the largest global research and development (R&D) platform, in which a total of 47 countries (41 European, six non-European date2023-10-31

Korea and Norway strengthen eco-friendly & marine plant networking

Trade, Industry and Energy Vice Minister Youngjin Jang attended the Norway Day 2023 on October 27 at Signiel Busan and encouraged the leaders of both countries’ shipbuilding and marine plant businesses and extended support for business networking. Cooperation in the shipbuilding and marine plant sector between the two countries is going strong, with Korea winning 61 percent of all shipbuilding orders placed by Norway in 2022. Held on the last day of the KORMARINE 2023 (Internationa date2023-10-31

Vice Minister attends completion ceremony of Korea's first neodymium REPM plant

Trade, Industry and Energy Vice Minister Youngjin Jang attended on October 27 the completion ceremony of Sunglim Advanced Industrial’s Hyunpoong Plant in Daegu, Korea’s very first producer of neodymium-based rare earth permanent magnets (REPMs), which are core components of EV motors.   The ceremony was attended by representatives of relevant companies and organizations, including Daegu City Executive Mayor Kim Jong-han, Korea Automotive Technology Institute (KATECH) President date2023-10-31

Korea and Qatar expand scope of collaboration to self-driving, smart farm and healthcare

Trade, Industry and Energy Minister Bang Moon Kyu and Qatar’s Commerce and Industry Minister Mohammed bin Hamad bin Qassim Al Abdullah Al Thani attended the Korea-Qatar Business Forum on October 25 in Qatar, held by the Korea Chamber of Commerce and Industry and the Qatar Chamber of Commerce and Industry, where a total of 10 memorandums of understanding (MOUs) were signed between the two countries. In energy, Samsung C&T and the Qatar Free Economic Zone Authority entered a total of tw date2023-10-30

Korea and Vietnam discuss economic collaboration & advancing carbon free initiatives  

  Trade, Industry and Energy Vice Minister Youngjin Jang held a meeting on October 17 in Seoul with Tran Tuan Anh, head of the Vietnamese Communist Party Central Committee's Economic Commission, and discussed implementation measures following the Korea-Vietnam summit. Since the state visit to Vietnam in June, there has been active high-level dialogues between the two countries aimed at bolstering economic cooperation. Some of the issues discussed include enhancing bilateral trade and date2023-10-27