Ministry of Trade, Industry and Energy

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

Korea and Cape Verde enter MOUs for agricultural and business cooperation

Trade, Industry and Energy Minister Bang Moon Kyu visited Cape Verde from September 29-30 and attended the MOU signing ceremony between Korean maker of agricultural equipment and machinery Daedong and Cape Verde’s Agriculture and Environment Ministry on donating large-sized tractors and other farming equipment and transferring relevant technology.   Minister Bang gave a congratulatory message expressing his support for the enhancement of Cape Verde’s farming productivity and p date2023-10-05

Trade Minister visits Tajikistan and Kazakhstan

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 Kokhir Ra date2023-10-04

Korea's exports decline 4.4% in September

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 1 that Korea’s exports in September declined 4.4 percent year-on-year to USD 54.7 billion and imports fell 16.5 percent to $51.0 billion, resulting in a trade surplus of $3.7 billion, an all-time high within the last two years. September exports recorded a single-digit decline rate for the second consecutive month, showing the smallest decline rate since last October when the export value began decreasing. The daily a date2023-10-02

440th Korea Trade Commission gives preliminary determination on anti-dumping duties

The Ministry of Trade, Industry, and Energy (MOTIE) held the 440th Korea Trade Commission meeting on September 21 and based on the preliminary determination regarding domestic industrial injury from Egyptian white Portland cement, decided to recommend that the Ministry of Economy and Finance (MOEF) impose provisional anti-dumping duties of 72.23 percent to prevent further damage during the investigation period. The Commission plans to notify the preliminary determination results to the finance date2023-09-26

Korea and Finland enter TIPF MOU

Trade, Industry and Energy Ministry’s Deputy Minister for FTA Negotiations Roh Keon-ki and Finland’s Under-Secretary of State for International Trade Jarno Syrjälä signed the Trade Investment Promotion Framework (TIPF) memorandum of understanding (MOU) at the commemoration event for the 50th anniversary of the establishment of diplomatic relations between Korea and Finland held on September 21 at KOTE in Seoul. Finland is an information technology (IT) and digital powerhou date2023-09-22

Korea and Vietnam kick off Plus Joint Working Group Meeting

The Ministry of Trade, Industry, and Energy (MOTIE) held the first meeting of the 'Vietnam-Korea Plus Joint Working Group' on September 14 to discuss measures to accelerate the achievement of a USD 150 billion trade volume between Korea and Vietnam by 2030. This initiative builds on the trade and investment MOU signed during President Yoon Suk Yeol’s state visit to Vietnam in June. Under the names Vietnam Plus and Korea Plus, specialized support teams composed of government authorities, t date2023-09-15

Korea and Vietnam kick off Plus Joint Working Group Meeting

The Ministry of Trade, Industry and Energy (MOTIE)’s International Trade Relations Director General Kim Jong-cheol met Tran Quang Huy, Director of the African, West and South Asian Markets Department at the Ministry of Industry and Trade (MoIT) of Vietnam on September 14 at the Lotte Hotel Seoul to attend the 1st Korea-Vietnam Plus Joint Working Group Meeting and discussed follow-up measures to the two countries' June summit meeting, including critical minerals supply chain center establis date2023-09-15

Korea's ICT exports decline 16.7% in August

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 14 that Korea's exports and imports of information and communications technology (ICT) goods for August recorded USD 16.1 billion (down 16.7 percent year-on-year) and $11.1 billion (down 18.1 percent), respectively. The trade balance stood at a surplus of $5.0 billion. ICT exports fell as a consequence of low semiconductor unit prices and sluggish demand for ICT devices. However, the export decline rate is slowly recoveri date2023-09-15