Throughout its history, the Ministry of Trade, Industry and Energy (MOTIE) has taken on expanded roles and responsibilities, helping to transform South Korea into a dynamic economic powerhouse.
The ministry was established at the birth of the Republic of Korea in 1948 as the Ministry of Trade and Industry (MTI) with the mission to coordinate the nation’s industries.
In 1993, MTI was merged with the Ministry of Energy and Resources, an agency launched in 1977 to ensure stable energy supply, to create the Ministry of Trade, Industry and Energy (MOTIE).
The ministry was reorganized in 1998 as the Ministry of Commerce, Industry and Energy (MOCIE) after the new Kim Dae-jung administration transferred its role in trade policy to the Ministry of Foreign Affairs and Trade.
In 2008, the Lee Myung-bak administration launched the Ministry of Knowledge Economy (MKE), integrating key parts of the former Ministries of Commerce, Industry and Energy; Information and Communication; and Science and Technology. MKE helped the nation become a knowledge-based economy by fostering traditional industrial strengths while developing new growth engines.
After taking office in 2013, President Park Geun-hye restored MKE’s trade policy role, renaming it the Ministry of Trade, Industry and Energy (MOTIE). Now better equipped to deal with the challenges of the 21st century, MOTIE is committed to providing a foundation for economic growth by combining a wide range of responsibilities in the areas of commerce, investment, industry and energy.