Tag: MOTIE

MOTIE

Latest News

Minister of Trade, Industry and Energy Bang Moon-kyu speaks at a meeting for joint export expansion between public and private sectors on Wednesday. [YONHAP]

Industry Ministry to inject $59.7B to boost exports

The fund will be raised by state-run institutions, including Korea Trade Insurance and the Export-Import Bank of Korea, according to the Industry Ministry on Wednesday.

2023.11.8

Minister Lee Chang-yang of Trade, Industry and Energy speaks during a conference with industry stakeholders on critical mineral supply held in central Seoul, Monday. [YONHAP]

Korea to cut dependence on China for key minerals

The government hopes to cut dependency on China in critical minerals, from the current 80 percent level to 50 percent by 2030.

2023.2.27

Most popular

From left, Lee Han-joon, LH CEO, Lee Chung-woo, Yeoju City Government mayor and Kwak Noh-jung SK hynix CEO, at the signing ceremony at the National Assembly in Yeouido on Monday along with other attendees including lawmakers and Minister of Trade, Industry and Energy Lee Chang-yang. [YONHAP]

$88-billion Yongin chip-cluster agreement signed

While the majority of the infrastructure, including the power grid, has been approved by the Yeoju city government, the irrigation system approval request made in May last year was rejected.

2022.11.21

Firefighters help clean up at Posco's Pohang steel mill in North Gyeongsang on Monday. [NEWS1]

Posco's Pohang plant to be fully operational in early 2023

Posco was forced to shut its steel plant, including three furnaces in Pohang, on Sept. 6 after the plant was flooded due to the Typhoon Hinnamnor. Posco is estimated to have lost 2 trillion won in revenue and its subcontractors 250 billion won.

2022.11.14

SK hynix's booth at a semiconductor exhibition in Seoul in October. [YONHAP]

Korea and U.S. discuss chip restrictions

Last month, the U.S. Commerce Department announced a series of measures designed to limit China’s access to technology that could be used in weapons or to develop them.

2022.11.8

Korea, the Philippines vow enhanced cooperation in key minerals, nuclear energy

Korea and the Philippines agreed Tuesday to strengthen cooperation in supply chains of key raw materials and nuclear power, the Korean Industry Ministry said.

2022.10.18

Deputy Minister of Trade and Investment Moon Dong-min announces the foreign direct investment at the government complex in Sejong on Wednesday. [MINSTRY OF TRADE, INDUSTRY AND ENERGY]

Foreign direct investment hits record in first 9 months of year

Investment in manufacturing was $7.8 billion, a 152 percent increase year-on-year. Foreign direct investment in services fell 11.5 percent to $12.7 billion.

2022.10.5

Minister of Trade, Industry and Energy Lee Chang-yang during a meeting with the Korean automotive industry on Wednesday [YONHAP]

Korea wants 12 percent global EV market share by 2030

Korea's global EV market share will be increased to 12 percent by 2030 from the current 5 percent, the government has vowed. It hopes the industry will achieve an annual production of 3.3 million units by then.

2022.9.28

Minister of Trade, Industry and Energy Lee Chang-yang, right, heads the first Energy Commission meeting of the Yoon Suk-yeol government at Plaza Hotel in Seoul on Thursday. [YONHAP]

Yoon gov't set out energy efficiency goals

The government wants to raise Korea's energy efficiency by 25 percent, cutting out 22 million tons of oil equivalent (TOE), by 2027.

2022.6.23

Trade, Industry and Energy Minister Sung Yun-mo, second from right, explains the government's 2.0 strategy for materials, parts and equipment during a joint government press conference on Wednesday, a day before it was officially announced, at the government complex in Seoul. [YONHAP]

2.0 strategy for 3 key materials to cost trillions of won

Diversification of materials, parts and equipment sourcing will be significantly upped in the 2.0 strategy for reducing reliance on imports from Japan. The government more than triple the number of items for which supply will be shifted.

2020.7.9