Ministry of Trade Industry and Resources

137th FEZ Committee reviews plans for new district additions

The Korean government held the 137th Free Economic Zone Committee meeting on November 13, chaired by Trade, Industry and Energy Minister Bang Moon Kyu, to review new district proposals and changes in development plans aimed at expanding key strategic industries and associated sectors. The Ulsan Free Economic Zone submitted an application to the Committee for three additional districts, in response to the need to surpass the growth limitations of current industries and foster new growth sectors date2023-11-15

MOTIE and European Commission hold joint information session on CBAM

The Ministry of Trade, Industry and Energy (MOTIE) and the European Commission held a joint information session on the EU’s Carbon Border Adjustment Mechanism (CBAM) on November 15 at the Korea Chamber of Commerce and Industry (KCCI), which was first proposed by MOTIE’s Trade Minister Dukgeun Ahn last December as a form of outreach and accepted by the EU. Gerassimos Thomas, Director General of the Directorate-General for Taxation and Customs Union at the European Commission, gave a date2023-11-15

MOTIE announces K-Shipbuilding Strategy for Next-Generation Market Dominance

The Ministry of Trade, Industry and Energy (MOTIE) announced the “K-Shipbuilding Strategy for Next-Generation Market Dominance” on November 15 at the emergency economy ministerial meeting and the exports and investment promotion meeting. The strategy aims to reflect on-site opinions and preemptively respond to internal and external challenges for Korea to take the lead in the next-generation shipbuilding market through a public-private joint strategy on creating future grow date2023-11-15

Korea to roll out clean hydrogen certification system

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 14 that the proposal for an amendment to the Hydrogen Economy Promotion and Hydrogen Safety Management Act (“Hydrogen Act”) has passed the 47th Cabinet meeting’s deliberation and resolution process. The Korean government has thus far been making efforts to establish a clean hydrogen certification system in view of relevant trends in other major countries and domestic conditions. The Cabinet approval of th date2023-11-15

Korea enhances standards partnership with ASEAN for effective Korea-ASEAN Solidarity Initiative execution

With aim to successfully execute the “Korea-ASEAN Solidarity Initiative” from last year's Korea-ASEAN Summit, Korea will be strengthening its standards collaboration with ASEAN, its second-largest trade partner and the world's fifth-largest economic entity. The Korean Agency for Technology and Standards (KATS), under the Ministry of Trade, Industry and Energy (MOTIE), hosted a joint research workshop for improving standards cooperation between Korea and ASEAN on November 13. This ev date2023-11-14

Battery Alliance submits bill proposing integrated management system for used batteries

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 14 that the Battery Alliance has submitted a draft proposal on an integrated management system for the used battery industry and its supporting legislative bill. The Battery Alliance is composed of 24 members, including Hyundai Motor, three battery producers, companies in the reuse, remanufacturing and recycling industry, insurance firms and car disposal companies. First, the proposal redefines used batteries not as &ldqu date2023-11-14

Korea and U.S. hold Clean Energy Conference

Trade, Industry and Energy Minister Bang Moon Kyu attended the ROK-U.S. Clean Energy Conference on November 13 at the Four Seasons Hotel Seoul, held to better fulfill the achievement of carbon neutrality and to elevate the alliance to a carbon-free energy alliance for responding to climate change.   In his opening message, Minister Bang stated that “we must widely utilize various carbon-free energy (CFE) sources such as nuclear power, renewables, and hydrogen,” date2023-11-14

Trade ministers of Korea and Czech Republic discuss cooperation

Minister for Trade Dukgeun Ahn met with the Czech Minister of Industry and Trade Jozef Síkela on November 10 in the Czech Republic to discuss measures to bolster cooperation in trade, investment, EU’s economic legislations and clean energy. date2023-11-13

Trade Minister meets with Czech Republic’s Foreign Affairs Deputy Minister

Minister for Trade Dukgeun Ahn met with the Czech Republic’s Deputy Minister of Foreign Affairs Jiří Kozákib on November 10 in the Czech Republic to discuss measures to expand cooperation in trade, investment, clean energy and the EU’s economic legislative matters. date2023-11-13

Minister Bang visits Korea Sale Festa 2023

Trade, Industry and Energy Minister Bang Moon Kyu visited the Lotte Department Store in Jamsil on November 12, the first weekend of Korea Sale Festa 2023, to tour the retail stores where various discount promotion events are held and participated in a live show on autumn and winter fashion styling tips. He also asked the retail industry to make efforts for price stabilization and encouraged consumer spending. date2023-11-13