Ministry of Trade, Industry and Energy

Korea's exports grow 5.1% in October

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 1 that Korea’s export value for the month of October grew 5.1 percent year-on-year to USD 55.1 billion, a first in 13 months. Imports shrank 9.7 percent to $53.5 billion, and the trade balance stood at a surplus of $1.6 billion, posting growth for the fifth consecutive month since June this year. The daily average export value ($2.6 billion) for October, considering the number of operating days, again broke the previ date2023-11-02

Korea and Germany discuss cooperation in advanced industries & carbon neutrality

Minister for Trade Dukgeun Ahn met Udo Philipp, State Secretary for Germany’s Federal Ministry of Economic Affairs and Climate Action, on October 30 at the Lotte Hotel Seoul to discuss bilateral cooperation measures in advanced industries and achieving carbon neutrality, and asked support for World Expo 2030 Busan. date2023-11-01

Korea deposits instrument of acceptance of the WTO Fisheries Subsidies Agreement   

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 24 that the Korean government has formally deposited the instrument of acceptance for the Protocol Amending the Marrakesh Agreement Establishing the World Trade Organization to accept the World Trade Organization (WTO) Fisheries Subsidies Agreement on October 23 on the occasion of attending the Senior Officials Meeting (SOM) held in Geneva, Switzerland (October 23-24).  The Fisheries Subsidies Agreement, negotiated sin date2023-10-27

Minister attends MOU signing ceremony at Korea-Qatar Business Forum

Trade, Industry and Energy Minister Bang Moon Kyu attended the “Korea-Qatar Business Partnership” forum on October 25 at St. Regis Doha for signing of 10 MOUs in new renewable energy, autonomous driving, smart farm, plant and finance.   The event was also attended by Mohammed bin Hamad bin Qassim Al Abdullah Al Thani, the Qatari Minister of Commerce and Industry and the two countries’ government delegations.   date2023-10-27

Korea-Qatar business partnerships take off in energy & new industries

Hosted by the Ministry of Trade, Industry and Energy (MOTIE) and organized by the Korea Trade-Investment Promotion Agency (KOTRA) on October 25 at the St. Regis Doha, the “Korea-Qatar Business Partnership” trade show was launched to serve as a venue for 117 one-on-one meetings between 20 Korean SMEs and middle-market companies and 54 Qatari companies in energy, plant, construction, smart farm, smart city and bio. The trade show is expected to further not only traditional cooper date2023-10-27

Trade Minister discusses economic cooperation with Armenia's Prime Minister

Minister for Trade Dukgeun Ahn met with Armenia’s Prime Minister Nikol Pashinyan on October 24 in Armenia, to discuss bilateral economic cooperation measures in nuclear power plants, ODA, trade and investment. date2023-10-27

Trade Minister discusses economic cooperation with Kazakhstan’s Prime Minister

Trade Minister Ahn met Kazakhstan’s Prime Minister Älihan Smaiylov on October 23 in Kazakhstan and presented President Yoon Suk Yeol’s handwritten letter on bilateral economic cooperation measures. date2023-10-27

Trade Minister visits Kazakhstan & Armenia as Special Presidential Envoy

Minister for Trade Dukgeun Ahn visited Kazakhstan and Armenia through October 23-24 as a Special Presidential Envoy to strengthen substantial economic cooperation with the Commonwealth of Independent States (CIS), the strategic importance of which is recently increasing. The trade chief led an economic delegation composed of 27 representatives of both public and private sectors, including those from the Ministry of Trade, Industry and Energy (MOTIE), Korean embassies in Russia and Kazakhstan, K date2023-10-27

Deputy Trade Minister attends carbon fiber plant groundbreaking ceremony

Trade, Industry and Energy Deputy Trade Minister Yang Byeong-nae attended on October 23 the groundbreaking ceremony for the construction of advanced materials company Toray Industries’ carbon fiber production plant in Gumi in North Gyeongsang Province, Korea.   In his congratulatory message, Deputy Trade Minister Yang stated that the investment is a good example of the improving bilateral relations between Korea and Japan amid the revitalized exchanges and cooperation, and the resum date2023-10-26

Korea and Saudi hold Investment Forum & MOU signing ceremony

Trade, Industry and Energy Minister Bang Moon Kyu and Saudi Investment Minister Khalid A. Al-Falih attended the Korea-Saudi Investment Forum on October 22 at the Fairmont Hotel Riyadh and attended the ceremony for the signing of 40 MOUs and six agreements worth a total of $8.3 billion, including the agreement for building Korea’s first automotive plant in the Middle East. date2023-10-25