Ministry of Trade, Industry and Energy

Trade Minister Kim extends outreach to US lawmakers

Trade Minister Kim Hyun-chong (right) had meetings with U.S. Representative Kay Granger of Texas (left) and other Congress members, including Sen. Joni Ernst and Reps. Rob Woodall, Andy Kim, and Jackie Walorski, during his trip to Washington, D.C., from January 29 to February 6.During the meetings, Trade Minister Kim underlined that Korea should be exempt from potential Section 232 tariffs on auto and auto parts in order to deepen the future-oriented economic partnership between the two allies.T date2019-02-06

Trade Minister Kim talks with Trump administration’s economic team

Trade Minister Kim Hyun-chong (left) had talks with key economic team members of the Trump administration including U.S. National Economic Council Director Larry Kudlow (right), U.S. Commerce Department Secretary Wilbur Ross, and U.S. Trade Representative Robert Lighthizer during his visit to Washington, D.C., from January 29 to February 6.During the talks, Trade Minister Kim emphasized that Korea should be spared from potential Section 232 auto and auto parts tariffs, considering the closer, fu date2019-02-06

Korea’s January exports decrease 5.8 percent to $46.4 billion

The Ministry of Trade, Industry and Energy announced on February 1 that Korea’s exports in January decreased 5.8 percent to USD 46.4 billion compared to the same period last year.Its imports also slipped 1.7 percent to $45.0 billion, but its trade balance remained positive at $1.3 billion, making the country a net exporter for 84 consecutive months.Exports last month were affected by many external factors such as the U.S.-China trade dispute and the falling prices of semiconductors and oil date2019-02-01

Trade Minister Kim meets with US Senator Steve Daines in Washington, DC

Trade Minister Kim Hyun-chong (left) met with U.S. Senator Steve Daines of Montana in Washington, D.C., on January 30 (local time) to explain Korea’s stance on the U.S. Commerce Department’s Section 232 probe into auto imports. date2019-01-31

Trade Minister Kim meets with US Senator David Perdue in Washington, DC

Trade Minister Kim Hyun-chong (right) had a meeting with U.S. Senator David Perdue of Georgia in Washington, D.C., on January 30 (local time) to convey Korea’s stance on the U.S. Commerce Department’s Section 232 auto investigation. date2019-01-31

Trade Minister Kim discusses with US Senator Chuck Grassley in Washington, DC

Trade Minister Kim Hyun-chong (right) had a meeting with U.S. Senate Finance Committee Chairman Chuck Grassley (left) in Washington, D.C., on January 29 (local time).During the meeting, Trade Minister Kim delivered Korea’s stance on the U.S. Department of Commerce’s Section 232 investigation into auto tariffs. date2019-01-30

Trade Minister Kim has bilateral meeting with his EU counterpart in Davos

Trade Minister Kim Hyun-chong (right) had a bilateral discussion with EU Trade Commissioner Cecilia Malmström (left) as an effort to bolster Korea’s exports and new industries during his visit to Davos, Switzerland, from January 22 to 25.Trade Minister Kim also had bilateral meetings with top government officials from other countries such as Saudi Arabia, Canada, the UK, Brazil, and Russia.During his trip to Davos, Trade Minister Kim attended WTO ministerial meetings where he apprecia date2019-01-26

Trade Minister Kim meets with UK counterpart to discuss bilateral trade ties in Davos

Trade Minister Kim Hyun-chong (right) met with UK International Trade Secretary Liam Fox to discuss bilateral trade ties during his visit to Davos, Switzerland, on January 23 (local time).During the meeting, the two top trade officials agreed that it is necessary to minimize the potential impact of Brexit outcomes on trade between the two countries and their economies. date2019-01-24

Minister Sung shares government’s vision with foreign-invested companies in Korea

Trade, Industry and Energy Minister Sung Yun-mo (fourth from the left) shared with foreign-invested companies the Korean government’s vision for economic and industrial development at a New Year’s meeting held in Seoul on January 22.At the gathering, Minister Sung expressed appreciation for the continuous growth of foreign-invested companies’ contribution to the Korean economy, citing last year’s all-time high foreign direct investment pledges of $26.9 billion.Among the a date2019-01-22

Minister Sung co-chairs first export strategy meeting between public and private sectors

Trade, Industry and Energy Minister Sung Yun-mo co-chaired with the Chairman of the Korea International Trade Association the first export strategy meeting between the public and private sectors in Seoul on January 21.During the meeting, Minister Sung asked the export industry to strive for developing new export items and diversifying export markets. At the same time, he requested export promotion agencies to actively assist export companies. Minister Sung also said that the Korean government wi date2019-01-21