Ministry of Trade, Industry and Energy

Minister Lee and Secretary Raimondo hold 1st Korea-U.S. SCCD

Minister of Trade, Industry and Energy Lee Chang-yang and United States Secretary of Commerce Gina Raimondo held the first Korea-U.S. Supply Chain and Commercial Dialogue (“SCCD”) on April 27 in Washington DC and issued a joint statement. The joint statement is as below.   United States Secretary of Commerce Gina Raimondo and Republic of Korea Minister of Trade, Industry, and Energy Chang-Yang Lee ('the Participants') signed a Memorandum of Understanding to launch the United date2023-05-02

Korea and U.S. hold Supply Chain & Commercial Dialogue

Trade, Industry and Energy Minister Lee Chang-yang and the U.S. Secretary of Commerce Gina Raimondo held the Korea-U.S. Supply Chain & Commercial Dialogue (SCCD) on April 27 in Washington DC to discuss semiconductors, export controls, robotics and additive manufacturing and attended the ceremony for MOU signing in high-tech areas. date2023-05-01

MOTIE announces U.S. firms will invest $1.9 bil. in Korea's chips, hydrogen & green businesses

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 26 that on April 25 at the American Chamber of Commerce in Korea (AmCham), on the occasion of President Yoon Suk-yeol’s state visit to the U.S., six U.S. firms agreed to invest a total of USD 1.9 billion in Korea’s hydrogen, semiconductor and eco-friendly businesses. This investment is substantially larger than the formerly $1.2 billion pledged during the North American investors’ roundtable held last Septem date2023-04-26

MOTIE holds 3rd Korea-Middle East Economic Cooperation Support Working Group

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin chaired the 3rd Korea-Middle East Economic Cooperation Public-Private Joint Committee Support Working Group Meeting on April 19 at the Korea Chamber of Commerce and Industry (KCCI). The meeting was attended by representatives of a total of 20 institutions, including Korea International Trade Association (KITA), Korea Trade-Investment Promotion Agency (KOTRA), K-SURE. and relevant ministries like the Ministry of Scie date2023-04-25

Korea and Poland discuss trade, investment & defense cooperation

Trade, Industry and Energy 1st Vice Minister Jang Young-jin met with Undersecretary of State in the Office of the Prime Minister of Poland Izabela Antos and Secretary of State in the Ministry of Development and Technology Piotr Uscinski on April 19 and 20, respectively, in Poland to discuss trade, investment, industrial technology cooperation, Korea-Poland infrastructure and defense cooperation, EU steel safeguard measures and other EU trade issues. date2023-04-21

Korea and Hungary discuss trade & investment cooperation & sign TIPF MOU

Trade, Industry and Energy 1st Vice Minister Jang Young-jin met with Hungarian Deputy Foreign Minister Levente Magyar on April 18 in Hungary to discuss measures to bolster bilateral trade, investment and economic cooperation, and signed the Trade and Investment Promotion Framework (TIPF) agreement MOU.   He also met with Hungary's Economic Development Minister Márton Nagy to discuss measures for stronger cooperation in industrial technology and economy.   date2023-04-21

Korea's auto exports reach record-breaking $6.5 billion in March

The Ministry of Trade, Industry and Energy announced on April 17 that Korea’s automobile production, domestic sales and exports by unit in March gained year-on-year by 35.6 percent, 19.6 percent and 48.0 percent, respectively. By value, exports of finished cars rose 64.1 percent to a record-breaking USD 6.5 billion, while those of car parts inched down 5.3 percent. Production volume surpassed 0.4 million units for the first time in six years, thanks to normalization of car parts supply c date2023-04-18

Korea's ICT exports recover $15 billion thresholds in March

The Ministry of Trade, Industry and Energy announced on April 13 that Korea's exports and imports of information and communications technology (ICT) goods in March recorded USD 15.8 billion (down 32.2 percent year-on-year) and $11.9 billion (down 7.9 percent), respectively. Trade balance stood at a surplus of $4.0 billion. ICT exports contracted for the ninth consecutive month as the global economic downturn and semiconductor industry slowdown continued, but export value recovered $15.0 billion date2023-04-14

Trade Minister attends Korea Biz-Trade Show 2023

Minister for Trade Dukgeun Ahn attended the Korea Biz Trade Show 2023 on April 12 at COEX in Seoul, where export consultations were held on a large scale to foster a “boom up” atmosphere for Korea’s exports amid the recent trade deficit and exports slowdown.   Trade Minister Ahn took part in the ribbon cutting ceremony and toured major booths for consultations in public procurement, bio medical, MPE (materials, parts, equipment) and ICT. A total of 1,500 domestic compa date2023-04-13

Korea and Dominican Republic sign TIPF cooperation MOU

Minister for Trade Dukgeun Ahn met with Raquel Peña, Vice President of the Dominican Republic, on April 7 at the Lotte Hotel Seoul and held a Trade Investment Promotion Framework (TIPF) memorandum of understanding (MOU) signing ceremony to bolster cooperation in trade, industry and energy. date2023-04-13