Ministry of Trade, Industry and Energy
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Minister Joo meets with DTI secretary Ramon Lopez
Trade, Industry and Energy Minister Joo Hyunghwan (left) met with Philippine Department of Trade and Industry secretary Ramon Lopez (right) in Seoul on December 6. Minister Joo and his Philippine counterpart discussed the Regional Comprehensive Economic Partnership and other pending trade issues between the two countries, prior to their bilateral t...
Minister Joo hosts finance and investment meeting for new energy projects
Trade, Industry and Energy Minister Joo Hyunghwan (second from right) held a finance and investment meeting for new energy businesses in Seoul on January 4 with Cho Hwan-ik, CEO of Korea Electric Power Corp.; Park Sang-woo, CEO of Korea Land and Housing Corp.; Kang Nam-hoon, president of Korea Energy Agency; and other major industry leaders. Minist...
Korea to invest 14 trillion won into new energy projects
The Ministry of Trade, Industry and Energy announced on January 4 that it expects Korea will invest nearly 14 trillion won into emerging energy industries, primarily driven by an increase in investments by the private sector. Trade, Industry and Energy Minister Joo Hyunghwan hosted a meeting between himself, the financial sector, public sect...
Vice Minister Woo hosts 'trade policy forum'
Trade, Industry and Energy Vice Minister Woo Taehee (second from right) held a 'trade policy forum' in Seoul on January 11 to discuss in advance some of the pending trade issues facing each industry and possibly construct potential countermeasures. Some of the key industry leaders including Kim Yong-geun, president and CEO of the Korea Automobile M...
Industrial materials, components exports return to growth in 4Q
The Ministry of Trade, Industry and Energy announced on January 16 that exports of industrial materials and components returned to growth in the fourth quarter last year after seven quarters of contraction. Exports of materials and components rose by 2 percent to USD 66.3 billion from the same quarter of 2015, on the back of the recove...
Minister Joo holds second public-private talk on Korea-U.S. trade issues
Trade, Industry and Energy Minister Joo Hyunghwan (second from left) on December 28 hosted a second meeting between government and private experts that convened last month in order to deal with potential U.S. protectionist measures amid the incoming Trump administration. Minister Joo and roughly 40 other business leaders and heads of research insti...
Vice Minister Jeong meets with Japanese business leaders in Korea
Trade, Industry and Energy Vice Minister Jeong Marn-ki (center) attended the Seoul Japan Club Leaders’ Meeting in Seoul on December 23, 2016. The vice minister outlined his ministry’s policies for ensuring a stable economy and called for more active participation to maintain the rising trend of foreign investment. He encouraged in...
FDI in Korea hits fresh record high in 2016
The Ministry of Trade, Industry and Energy announced on Tuesday that the foreign direct investment (FDI) newly pledged in 2016 reached a record high of USD 21.3 billion, showing a 1.9 percent rise from $20.91 billion a year ago. This figure marked the largest amount of FDI pledged in history for a four-quarter-period, surpassing the earlier ...
Korean exports jump 6.4 percent in December
The Ministry of Trade, Industry and Energy announced on Sunday that South Korean exports rose by 6.4 percent to USD 45.1 billion in December last year compared to the same period a year ago, while on-year imports rose by 7.3 percent to $38.1 billion. Accordingly, the trade balance in December stood at a $7 billion surplus, remaining in the pos...
Ministry hosts emergency meeting for export policy check-up after impeachment vote
Led by the Trade-Industry-Energy MinisterJoo Hyunghwan, the Ministry hosted an urgent meeting to inspect current export environment and to predict the outlook for exports next year on Dec 13 in Seoul with key exporters and export promotion-related organizations like KOTRA and Korea Trade Insurance Corp. in its efforts to minimize the impact fr...