Ministry of Trade Industry and Resources

Minister Lee attends Korea-Portugal Business Forum

Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-Portugal Business Forum held on April 12 at the Four Seasons Hotel Seoul and met with Portuguese Prime Minister António Costa to discuss measures for expanding Korea-Portugal business cooperation.   In his congratulatory message, Minister Lee stated that car parts, renewable energy and many other areas were enjoying increasing bilateral investment. Bilateral trade also grew from USD 0.8 billion in 2019 to $1.2 bi date2023-04-13

Minister Lee attends Korea-Portugal Business Forum

Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-Portugal Business Forum held on April 12 at the Four Seasons Hotel Seoul and met with Portuguese Prime Minister António Costa and other relevant economic organizations’ and companies’ representatives. The forum was co-hosted by the Korea Chamber of Commerce and Industry (KCCI), Embassy of Portugal in South Korea, and the Portuguese Trade & Investment Agency AICEP to expand Korea-Portugal business cooper date2023-04-13

MOTIE announces launching of Super Gap Project for Industrial Transformation

Trade, Industry and Energy 1st Vice Minister Jang Young-jin held a CTO Roundtable on April 10 at the Korea Chamber of Commerce and Industry (KCCI) and announced the launching of the “Super Gap Project for Industrial Transformation.” The roundtable was attended by the heads of four relevant institutes and CTOs of nine companies, namely LX Semicon, Samsung Display, Hyundai Motor, POSCO, Yujin Robot, LG Innotek, L&F, Hanwha Aerospace and CJ CheilJedang. The Super Gap Project is a date2023-04-13

1st Vice Minister visits cement supplier for site inspection

Trade, Industry and Energy 1st Vice Minister Jang Young-jin visited Hanil Hyundai Cement, the Seoul capital area’s largest cement supplier in Gyeonggi-do, on April 11 for site inspection and briefing on company management and cement supply issues.   The Vice Minister toured the facilities and received opinions on measures to improve supply conditions, then inspected silo level and cement loading site. date2023-04-11

Korea and Canada discuss trade, investment & critical minerals cooperation

Minister for Trade Dukgeun Ahn met with Senator Clément Gignac and other Parliament members of Canada on April 10 at the Plaza Hotel Seoul to discuss Korea-Canada trade and investment expansion, critical minerals cooperation MOU, measures for strengthening bilateral and multilateral diplomacy, and requested support for World Expo 2030 Busan. date2023-04-11

Korea and UK announce joint declaration for energy transition

Trade, Industry and Energy Minister Lee Chang-yang met with Grant Shapps, the UK’s Secretary of State for Energy Security and Net Zero on April 10 at the Lotte Hotel Seoul and put out a joint declaration stating their agreement to bolster cooperation and exchange in clean energy.   They also discussed various measures for nuclear energy cooperation, including design, construction, main equipment production, decommissioning, nuclear fuel and small modular reactors (SMRs).   date2023-04-11

Korea and UK announce joint declaration on energy transition

Trade, Industry and Energy Minister Lee Chang-yang met with Grant Shapps, the UK’s Secretary of State for Energy Security and Net Zero on April 10 at the Lotte Hotel Seoul to discuss clean energy exchange and cooperation. The two countries put out a joint declaration stating their agreement on the need for energy transition from fossil fuels to low carbon power sources, prospects for South Korea’s participation in the UK’s new nuclear power plant project and the two countries& date2023-04-10

Trade Minister holds 1st New Trade Roundtable

Minister for Trade Dukgeun Ahn chaired the 1st New Trade Roundtable meeting on April 6 at the Korea International Trade Association (KITA) in Seoul to discuss the impact on Korean industries from major countries’ shift towards protectionist supply chain policies and to seek solutions for overcoming the situation.   The trade minister gave an opening message and led discussions on “Korea’s future path amid global supply chain realignment, legislation progress of EU’ date2023-04-10

MOTIE holds pan-ministerial export situation assessment meeting

The Ministry of Trade, Industry and Energy (MOTIE) held a pan-ministerial export situation assessment meeting on April 3 at the Government Complex Seoul to respond to Korea’s export decline and trade deficit, and review ministry-specific goals of fulfilling export growth targets this year. The ministries also discussed the following significant outcomes. 1) The first economic cooperation “shuttle group” was sent to the United Arab Emirates (UAE) in March, successfully enterin date2023-04-10

MOTIE announces post-IRA public-private joint strategy for battery industry

Trade, Industry and Energy Minister Lee Chang-yang chaired the Battery Alliance conference on April 7 and announced the “Post-IRA Public-Private Joint Strategy for Battery Industry Development”. The following measures will be implemented to support domestic material suppliers, which are growing increasingly important since the IRA. First, the Export-Import Bank of Korea and K-SURE will support battery firms' and material suppliers’ investments in facilities within North Ameri date2023-04-07