Ministry of Trade, Industry and Energy

Free economic zones, Korea's new base for global business

The Ministry of Trade, Industry and Energy (MOTIE) and the Incheon Free Economic Zone Authority (IFEZA) are co-hosting an international forum in commemoration of the 20th anniversary of the launching of Korea's free economic zones (KFEZs), from October 17-18 at the Sheraton Grand Incheon Hotel. Approximately 300 persons are attending the forum, including MOTIE’s Vice Minister Youngjin Jang, Incheon Mayor Yoo Jeong-bok, free economic zone authorities’ directors, relevant personnel of date2023-10-17

Korea's ICT exports decline 13.4% in September

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 16 that Korea's exports and imports of information and communications technology (ICT) goods for September recorded USD 18.1 billion (down 13.4 percent year-on-year) and $10.8 billion (down 16.8 percent), respectively. The trade balance stood at a surplus of $7.3 billion. The ICT export decline rate recorded the lowest year-on-year as semiconductors hit all-time highs in export value for this year. Exports of semiconductor date2023-10-16

Korea holds Seoul International Forum on Trade Remedies 2023

The Ministry of Trade, Industry and Energy (MOTIE) held the Seoul International Forum on Trade Remedies 2023 on October 13 under the theme of “Challenges and Tasks of Trade Remedies in the Digital Era” at COEX in Seoul, where representatives of major global trade remedy organizations gathered to discuss response measures amid the changing trade landscape and share various cases and experiences of different countries. Approximately 110 representatives, experts and corporate date2023-10-13

Trade Minister discusses cooperation with Chile's Economy Minister

Minister for Trade Dukgeun Ahn held talks with Chile’s Economy, Development and Tourism Minister Nicolas Grau on October 12 in Seoul regarding measures for bilateral cooperation in trade, critical minerals supply chain and green energy, and asked for Chile’s support for Korea’s bid to host World Expo 2030 in Busan. date2023-10-13

Korea and Ecuador hold business forum

Deputy Minister for Trade Yang Byeong-nae attended the Korea-Ecuador Business Forum held on October 11 at the Lotte Hotel Seoul and gave a congratulatory message.   The forum was attended by approximately 100 persons, including both countries’ economic delegation members and companies, as well as Ecuador’s Foreign Affairs Minister Gustavo Miranda. date2023-10-12

Korea and Grenada discuss cooperation in renewable energy & trade

Trade, Industry and Energy Minister Bang Moon Kyu, on the occasion of the annual high-level forum on the Korea-Caribbean partnership on October 11 in Seoul, held talks with Grenada’s Mobilization, Implementation and Transformation Minister Andy Williams on bilateral cooperation in trade, economy, renewable energy and development, and also requested support for World Expo 2030 Busan. date2023-10-11

Korea makes final spurt with 50 days until final vote for World Expo 2030

The Republic of Korea’s Prime Minister Han Duck-soo is heading the visit to four European countries from October 8-15 for a series of promotion of the World Expo 2030 Busan, starting with Paris, France, with approximately 50 days remaining until the final vote for selecting the World Expo 2030 candidate winner. In Paris, Prime Minister Han is directing the official symposium for World Expo 2030 Busan through October 9-10, attended by approximately 200 key figures, including Korea Chamber date2023-10-10

Trade Minister discusses economic cooperation with Greek Deputy Foreign Minister

Minister for Trade Dukgeun Ahn met with Greek Deputy Foreign Minister for Economic Diplomacy and Openness Kostas Fragogiannis on October 5 in Seoul to discuss measures to advance bilateral economic cooperation in trade and investment, and requested support for World Expo 2030 Busan. date2023-10-10

FDI pledged to Korea in Q3 jump 11.3%

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 4 that foreign direct investments (FDIs) pledged to Korea in the third quarter of 2023 (Jan-Sep, acc.) jumped 11.3 percent year-on-year to a record-breaking USD 24.0 billion. FDIs that actually arrived in Korea over the same period also climbed 20.2 percent to an all-time high of $13.9 billion. The number of pledges increased, while that of arrivals decreased. The number of pledges reached 2,522 (up 11.3 percent) and a date2023-10-05

Trade Minister attends international investment forum "DUSHANBE-2023"

Minister for Trade Dukgeun Ahn visited the Republic of Tajikistan to attend the international investment forum 'DUSHANBE-2023' from September 29-30, where he met Tajikistan’s government representatives and held discussions on the Trade and Investment Promotion Framework (TIPF) and promising areas for cooperation between the two countries.   On the occasion of the forum, Minister Ahn held talks with a number of Tajikistan’s government representatives, including Prime Minister K date2023-10-05