Ministry of Trade Industry and Resources

Minister attends Korea-Indonesia Business Roundtable on sidelines of G20

Trade, Industry and Energy Minister Lee Chang-yang held talks with Korean and Indonesian business leaders in Bali, Indonesia on November 14 on bilateral economic cooperation and requested support for World EXPO 2030 Busan. date2022-11-17

Minister Lee and Airbus D&S CEO discuss aerospace industry cooperation

Trade, Industry and Energy Minister Lee Chang-yang held talks with Airbus Defense & Space (D&S) CEO Michael Schoellhorn at the Government Complex Seoul on November 16 and discussed measures for aerospace industry development and Korean companies’ exports expansion. date2022-11-17

Minister Lee and Airbus D&S CEO discuss aerospace industry cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Airbus Defense and Space (D&S) CEO Michael Schoellhorn on November 16 at the Government Complex Seoul to discuss measures to strengthen the aerospace and defense industry. Airbus D&S is a division of Airbus SE, the European multinational aerospace corporation, and this meeting was convened on the occasion of the Airbus D&S chief’s visit to South Korea for local management affairs. Discussions centered on cooperation date2022-11-17

Korea and Indonesia hold Business Roundtable on sidelines of G20

Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-Indonesia Business Roundtable on November 14, held on the sidelines of the G20 summit convened in Bali, Indonesia, where 10 memorandums of understanding (MOUs) were signed by public and private parties of the two countries. The roundtable was co-hosted by the Federation of Korean Industries (FKI) and Indonesian Chamber of Commerce and Industry (KADIN), and attended by 40 officials and business representatives. It was the firs date2022-11-16

Korea and Sweden discuss economic cooperation and IRA response measures

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin met with Sweden’s Ambassador Håkan Jevrell on November 15 at the JW Marriott Hotel Seoul to discuss joint measures in response to U.S.’ Inflation Reduction Act (IRA), enhanced bilateral economic cooperation in green and digital transition, and requested support for World EXPO 2030 Busan.  date2022-11-16

Korea attracts more investment with groundbreaking of ASML chip cluster

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 15 that construction for Dutch semiconductor equipment maker ASML’s new headquarters in South Korea’s Hwaseong is to begin, bringing greater investment from four major chip equipment producers (Applied Materials, ASML, Lam Research, Tokyo Electron) that take up more than 60 percent of the global market, which will substantially contribute to enhancing Korea’s technological competitiveness. The groundbreak date2022-11-15

Korea's ICT exports decline 10.3% in October

The Ministry of Trade, Industry and Energy announced on November 14 that exports of Korea’s information and communications technology (ICT) products dropped 10.3 percent to USD 17.9 billion in October. Imports gained 13.6 percent to $13.8 billion, and the trade balance stood at a surplus of $4.1 billion. Exports of semiconductors, displays, computers and peripherals declined due to global economic slowdown, while mobile phones advanced along with strong demand for high value-added parts. date2022-11-14

Korea and Saudi Arabia hold ministerial talks to expand cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Saudi Arabia’s Investment Minister Khalid Al-Falih on November 10 in Seoul to discuss Korea-Saudi Vision 2030 Committee cooperation and investment expansion measures. date2022-11-14

Korea and Saudi Arabia to strengthen Vision 2030 Committee cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Saudi Arabia’s Investment Minister Khalid Al-Falih on November 10 on the occasion of the latter’s visit to South Korea, to discuss investment and economic cooperation expansion measures. The Ministers concurred that the Korea-Saudi Vision 2030 Committee has contributed greatly to the two countries’ industrial diversification and economic cooperation, such as laying Saudi’s shipbuilding industry foundations, bols date2022-11-14

MOTIE attends Saudi-Korean Business Workshop 2022

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin attended the Saudi-Korean Business Workshop 2022 in Seoul on November 10, held to seek cooperation measures in megaprojects like energy, infrastructure and NEOM.   The Deputy Trade Minister gave an opening message, assessing that “the two countries are diversifying and expanding the facets of cooperation from energy, construction, infrastructure and such conventional areas to manufacturing and services,& date2022-11-14