Ministry of Trade, Industry and Energy

Korean businesses embark on new chapter of expansion into Latin American market

The Ministry of Trade, Industry, and Energy (MOTIE) held the 27th Korea-Latin America Business Forum in Seoul, on November 20, to support the expansion of Korean enterprises into the Latin American market. Co-hosted by MOTIE, the Korea International Trade Association (KITA), the Korea Institute for International Economic Policy (KIEP), the Korean Council on Latin America & the Caribbean, and the International Construction Association of Korea, the event was attended by diplomatic delegations date2023-11-21

Trade Minister meets with Singapore Business Federation Chairman

Minister for Trade Dukgeun Ahn met with Lim Ming Yan, Chairman of the Singapore Business Federation, on November 21 in Singapore to discuss stronger bilateral corporate supply chain and digital cooperation and asked Singaporean companies’ support and participation in the Carbon Free (CF) Alliance initiative. date2023-11-21

Advanced industries' foreign investment contributors awarded at Foreign Company Day 2023

The Ministry of Trade, Industry and Energy (MOTIE) held Foreign Company Day 2023 on November 21 to award those who contributed to promoting foreign investment and to facilitate communication and exchanges with foreign-invested companies. Now in its 23rd year, Foreign Company Day 2023 was attended by approximately 300 persons, including members of diplomatic missions from various countries like Italy, Switzerland and the Czech Republic, as well as the representatives of the Japanese, Canadian a date2023-11-21

Minister Bang attends ceremony declaring investments made by 4 U.S. companies

  Trade, Industry and Energy Minister Bang Moon Kyu attended a ceremony on November 15 in San Francisco, held on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit meetings, for the declaration of $1.2 billion worth of investments made in Korea by four U.S. companies. The minister gave a message of encouragement and stated that the investments will greatly contribute to stabilizing Korea's semiconductor industry supply chain and strengthening the Korea-U.S. alliance in a date2023-11-21

Korea and Singapore discuss cooperation in new industries and carbon neutrality

Minister for Trade Dukgeun Ahn held a trade ministers’ meeting with Singaporean counterparts on November 21 in Singapore and the two sides agreed to expand forward-looking cooperation in achieving carbon neutrality, supply chain and digital economy. The two countries are aiming to upgrade their economic cooperation in new industries and strengthen the intraregional economic security through attaining joint goals like net zero by 2050 and enhancing supply chain resiliency. Trade Minister date2023-11-21

Trade Minister meets with Thai Trade Representative

Minister for Trade Dukgeun Ahn met Thai Trade Representative Nalinee Taveesin on November 18 in Seoul to discuss follow-up measures to the summit meeting held on the occasion of the United Nations General Assembly in September and asked support for World Expo 2030 Busan. date2023-11-21

Trade chiefs of Korea and Thailand discuss wider cooperation in trade, investment and new industries

Minister for Trade Dukgeun Ahn met Thai Trade Representative Nalinee Taveesin on November 18 in Seoul to discuss follow-up measures to the summit meeting held on the occasion of the United Nations General Assembly in September. Thailand is the second largest economy in ASEAN and the Korea-Thailand economic cooperation is continuing to expand, with bilateral trade reaching unprecedented highs in 2022. This year marks the two countries’ 65th anniversary of the establishment of diplomatic re date2023-11-21

Rising neo-protectionism sparks discussions on shifting trade remedies

The Ministry of Trade, Industry and Energy (MOTIE)’s Korea Trade Commission held a winter academic seminar with participants from academia, law firms, and accounting firms and other sectors on November 17 at the Seoul National University Graduate School of International Studies to analyze issues of trade remedies in the era of neo-protectionism, identify policy implications and prepare strategic responses. The seminar proceeded under the theme of 'Changes in the Trade Remedies in response date2023-11-20

Four U.S. companies pledge $1.2 bln investments in Korea

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 19 that four U.S.-based companies pledged a total of USD 1.2 billion (KRW 1.5 trillion) in investment in Korea during President Yoon Suk Yeol’s visit to San Francisco to attend the Asia-Pacific Economic Cooperation (APEC) summit. The investment of four companies, namely GM, DuPont, IMC and Ecolab, are expected to have the effect equivalent to a 4.5 trillion won annual increase in export value or import substitution. date2023-11-20

Trade Minister attends PGI IPEF Investment Forum

Minister for Trade Dukgeun Ahn attended the “Partnership for Global Infrastructure and Investment (PGI) & Indo-Pacific Economic Framework for Prosperity (IPEF) Investor Forum” on November 16 in San Francisco, co-hosted by the U.S. White House and U.S. Department of Commerce (DOC) and discussed measures for scaling investments across the Indo-Pacific region for realizing sustainable and long-term economic growth. date2023-11-20