Positive tangible results are being made by the Korean Ministry of Trade, Industry and Energy (MOTIE) and the CF Alliance pursuing a strategy to expand carbon-free power sources in the industrial sector.Major countries such as the United Kingdom, France, the Netherlands, and the United Arab Emirates
The Korean Ministry of Trade, Industry and Energy (MOTIE) announced that Trade Minister Cheong In-kyo held the 8th Multilateral Trade Strategy Meeting with the MOTIE and related ministries on Jan. 29.In preparation for the 13th Ministerial Conference (MC-13) of the World Trade Organization (WTO) to
The Ministry of SMEs and Startups (MSS) is actively moving forward with the designation of new global innovation districts this year. Simultaneously, it is focusing its efforts on strengthening global collaboration programs to foster the venture ecosystem. The ministry plans to strengthen support fo
Doosan Enerbility is advancing its efforts to supply carbon-neutral power generation technologies, including Carbon Capture, Utilization, and Storage (CCUS) and ammonia co-firing, renewables, and hydrogen to Thailand. On Jan. 29, the company announced the signing of a memorandum of understanding (MO
Korean defense companies are set to continue their growth trajectory this year by securing additional orders from various countries around the world. Building on last year’s momentum, which saw an expansion in both the range of export destinations and weapon systems, these companies are aiming for q
The Ministry of Trade, Industry, and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) announced on Jan. 28 that they have published the “JP Morgan Healthcare Conference Weekly Expedition Report” as part of their “Overseas Exhibition Information Provision” series.The 42nd JP Mor
The Ministry of Trade, Industry and Energy (MOTIE) announced that the amendment to the “Act on Trade Adjustment Assistance” passed through the National Assembly plenary session on Jan. 25.As part of the measures to strengthen the manufacturing sector in response to the implementation of Free Trade A
Kang Stem Biotech announced on Jan. 24 that it received final approval from the Japanese Ministry of Health, Labour and Welfare on Jan. 23 for its application for recognition of the manufacture of specific cell processed products.Through this approval, the company will receive adipose tissue from pa
The Ministry of Trade, Industry, and Energy (MOTIE) has announced plans to achieve a US$700 billion export target this year. To attain this goal, the ministry will tailor export strategies per market by dividing them into key, strategic and emerging categories such as the United States, China, the E
The first round of official negotiations to improve the Korea-U.K. Free Trade Agreement (FTA) are being held in Seoul.The Korean Ministry of Trade, Industry and Energy (MOTIE) announced on Jan. 23 that more than 50 delegates from both countries are participating in the negotiations, led by Ahn Chang
The Ministry of Trade, Industry and Energy plans to inject 100 billion won into companies in advanced strategic industries and key supply chain sectors that are returning (U-turn) to Korea this year. This marks a 75% increase from the previous year. The corporate tax reduction period will be extende
3D Factory, a South Korean global platform dedicated to the development of the metaverse, announced on Jan. 22 that it has been selected as the advertising planner and executor for the entire Taif region of Saudi Arabia. This public project was commissioned by the Ministry of Municipal and Affairs a
The government is set to implement a comprehensive plan for “smart cities” incorporating new technologies. The primary focus is accelerating the entry into foreign markets through the restructuring of the “K-City Network” project. This initiative aims to strengthen the global competitiveness of Kore
The government is restructuring industrial and energy technology development projects to focus on high-risk, next-generation, and large-scale tasks. There will be a significant reduction in the financial burden on companies. The plan is to transition to a demand-driven process where businesses and r
Minister of SMEs and Startups Oh Young-Ju met with the startup winners of the CES 2034 Innovation Awards on Jan. 18 for a discussion.The meeting, held at the Seoul Center for Creative Economy & Innovation, aimed to encourage the representatives of the winning ventures and startups and to listen to t
The Ministry of Trade, Industry and Energy (MOTIE) announced on Jan. 18 that Deputy Trade Minister Yang Byung-nae met with a delegation of companies, including Solid Power Chief Operating Officer Derek Johnson, who visited the ministry to discuss cooperation in the field of next-generation batteries
Hwang Joo-ho, the CEO of Korea Hydro & Nuclear Power (KHNP), has been engaging in activities to secure the Dukovany new nuclear power plant project in the Czech Republic for two days from Jan. 16.On Jan. 17, CEO Hwang visited the Czech Power Company (CEZ) and the Czech Ministry of Industry and Trade
South Korean ramen exports nearly reached US$1 billion last year. According to the Ministry of Agriculture, Food and Rural Affairs on Jan. 17, ramen exports stood at US$952.4 million last year and marked a whopping increase of 24.4 percent compared to the previous year. Ramen exports have been consi
Korea’s automobile exports hit a record high of USUS$70.9 billion in 2023.Korea’s automobile exports increased 31.1 percent year on year to US$70.9 billion last year, according to 2023 annual automotive industry data released by the Ministry of Trade, Industry and Energy (MOTIE) on Jan. 16. This sur
The government has recently come up with a new plan for the promotion of the robot industry, aiming to invest over 3 trillion won (US$2.24 billion) in the public and private sectors by 2030 to deploy one million robots across various industrial and societal sectors.The Ministry of Trade, Industry, a