Ministry of Trade, Industry and Energy

Minister Lee attends Korea-Portugal Business Forum

Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-Portugal Business Forum held on April 12 at the Four Seasons Hotel Seoul and met with Portuguese Prime Minister António Costa and other relevant economic organizations’ and companies’ representatives. The forum was co-hosted by the Korea Chamber of Commerce and Industry (KCCI), Embassy of Portugal in South Korea, and the Portuguese Trade & Investment Agency AICEP to expand Korea-Portugal business cooper date2023-04-13

Korea and Canada discuss trade, investment & critical minerals cooperation

Minister for Trade Dukgeun Ahn met with Senator Clément Gignac and other Parliament members of Canada on April 10 at the Plaza Hotel Seoul to discuss Korea-Canada trade and investment expansion, critical minerals cooperation MOU, measures for strengthening bilateral and multilateral diplomacy, and requested support for World Expo 2030 Busan. date2023-04-11

Trade Minister holds 1st New Trade Roundtable

Minister for Trade Dukgeun Ahn chaired the 1st New Trade Roundtable meeting on April 6 at the Korea International Trade Association (KITA) in Seoul to discuss the impact on Korean industries from major countries’ shift towards protectionist supply chain policies and to seek solutions for overcoming the situation.   The trade minister gave an opening message and led discussions on “Korea’s future path amid global supply chain realignment, legislation progress of EU’ date2023-04-10

MOTIE holds pan-ministerial export situation assessment meeting

The Ministry of Trade, Industry and Energy (MOTIE) held a pan-ministerial export situation assessment meeting on April 3 at the Government Complex Seoul to respond to Korea’s export decline and trade deficit, and review ministry-specific goals of fulfilling export growth targets this year. The ministries also discussed the following significant outcomes. 1) The first economic cooperation “shuttle group” was sent to the United Arab Emirates (UAE) in March, successfully enterin date2023-04-10

FDI pledged to Korea in Q1 record all-time highs

The Ministry of Trade, Industry, and Energy announced on April 6 that foreign direct investments (FDIs) pledged to Korea in the first quarter of this year recorded a historic high, gaining 3.4 percent year-on-year to USD 5.6 billion. FDI arrivals over the same period declined by 27.7 percent to $3.4 billion. Despite major countries’ austerity measures, high interest rates and tight capital market, the first quarter of 2023 saw record high pledges, with greenfield investment climbing 13 pe date2023-04-07

Korea to push measures for nurturing first-rate investment environment

The Ministry of Trade, Industry and Energy’s Director General for International Trade Affairs Kim Wan-ki chaired a conference for foreign-invested companies on March 30 at K-SURE in Seoul to discuss measures for expanding investment and improving the investment environment. The conference was attended by representatives of major foreign-invested firms in core high-tech areas like semiconductors, automobiles and chemicals, who received thanks for their contribution to achieving all-time hi date2023-04-05

Korea and U.S. hold Trade Ministers’ Conference

Minister for Trade Dukgeun Ahn met with U.S. Trade Representative Katherine Tai on March 30 in Seoul and held a Korea-U.S. Trade Ministers’ Conference to discuss various issues, including IPEF, WTO reform, IRA and the CHIPS and Science Act. date2023-04-04

Trade Minister discusses export issues with Chungnam Province SMEs

Minister for Trade Dukgeun Ahn discussed export challenges with SMEs and middle-market companies, as well as measures to enhance firms’ understanding on the rapidly changing global trade environment on March 29 in Chungnam Province.   The trade minister first attended the MOU signing ceremony for launching of a trade promotion committee by eleven export assistance institutes, then discussed trade issues with exporters based in the Chungnam Province, including emerging market en date2023-04-04

Korea and U.S. hold Trade Ministers’ Conference

Minister for Trade Dukgeun Ahn met with U.S. Trade Representative Katherine Tai on March 30 in Seoul and held a Korea-U.S. Trade Ministers’ Conference to discuss trade issues and cooperation measures. The conference was held on the occasion of Representative Tai’s visit to Korea to attend the 2nd Summit for Democracy Indo-Pacific Regional Meeting in Seoul. The trade chiefs took the view that, on the basis of the Korea-U.S. Free Trade Agreement (FTA), the two countries’ bilate date2023-04-04

MOTIE attends 23rd Korea-Japan New Industry Trade Conference

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin attended the 23rd Korea-Japan New Industry Trade Conference on March 30 at COEX in Seoul. The conference was attended by representatives of relevant firms and organizations, including Korea International Trade Association (KITA), Korea-Japan Economic Association and officials of both Korean and Japanese governments.   date2023-04-03