Ministry of Trade, Industry and Energy

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

Korea and Ethiopia discuss measures for trade & industrial cooperation

Trade, Industry and Energy Minister Bang Moon Kyu, as the Special Presidential Envoy, met Ethiopia’s Deputy Prime Minister Demeke Mekonnen Hassen on October 20 in Ethiopia and discussed measures for enhancing bilateral relations and trade and investment cooperation, and delivered President Yoon Suk Yeol’s handwritten letter requesting support for World Expo 2030 Busan. date2023-10-25

Korea and Ethiopia enter MOU for expanding economic cooperation

Trade, Industry and energy Minister Bang Moon Kyu met with Gebremeskel Chala, Ethiopia's Minister of Trade and Regional Integration, on October 20 in Ethiopia and discussed cooperation in trade, investment, development and asked support for World Expo 2030 Busan.   The two ministers also signed an MOU for expanding bilateral economic cooperation in areas like trade, technology, industrial and digital.   date2023-10-25

Leading advanced materials company ups investment in Korea

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 23 that Toray Industries, the world’s leading company in carbon fiber composite materials headquartered in Japan, held the groundbreaking ceremony for the construction of a carbon fiber production plant in Gumi in North Gyeongsang Province, Korea. Since 1972, Toray Industries has invested a total of USD 1 billion in various areas in Korea, including engineering plastics and carbon fiber. Following the beginning of car date2023-10-25

Korea and Saudi build up industry-wide economic cooperation momentum

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 in Saudi Arabia, co-hosted by the Federation of Korean Industries (FKI) and the Saudi Investment Ministry, where a total of 40 memorandums of understanding (MOUs) and six agreements were sealed. In energy, a total of seven agreements and MOUs were entered for joint projects on crude oil stockpiling and bid participation, along with three hydr date2023-10-25