Ministry of Trade, Industry and Energy

Korea and Ecuador agree to expand cooperation and investment

Minister for Trade Dukgeun Ahn met with Ecuador's Production, Foreign Trade, Investments and Fisheries Minister Julio José Prado on June 15 in Seoul to discuss measures to strengthen economic cooperation between the two countries, including the progress of negotiations on the Korea-Ecuador Strategic Economic Cooperation Agreement (SECA), trade and investment, and supply chain collaboration. date2023-06-20

Korea and Ecuador agree to expand cooperation and investment

Minister for Trade Dukgeun Ahn met with Ecuador's Production, Foreign Trade, Investments and Fisheries Minister Julio José Prado on June 15 in Seoul and had extensive discussions on various measures to strengthen economic cooperation between the two countries, including the progress of negotiations on the Korea-Ecuador Strategic Economic Cooperation Agreement (SECA), trade and investment, and supply chain collaboration. Since the two countries resumed negotiations for the Korea-Ecuador S date2023-06-20

Korea and Qatar agree to expand investment cooperation

Trade, Industry and Energy Minister Lee Chang-yang held the 6th High-level Strategic Consultation Committee meeting with Qatari Minister of Commerce and Industry H.E. Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani on June 15 in Seoul.   During the meeting, three memorandums of understanding (MOU) were signed to strengthen cooperation between KOTRA and Invest Qatar in investment, the Korean Intellectual Property Office and the Qatari Ministry of Commerce and Industry in intellec date2023-06-20

Korea and Qatar agree to expand investment cooperation

Trade, Industry and Energy Minister Lee Chang-yang held a High-Level Strategic Consultation Committee meeting with Qatari Minister of Commerce and Industry H.E. Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani in Seoul on June 15. The meeting was held for the first time in four years since 2019. The high-level visit to Korea was attended by Qatar’s Sovereign Wealth Fund (ranked 9th globally) for the first time, creating an opportunity to expand the bilateral cooperation from ind date2023-06-19

Korea's auto exports record $6.2 billion in May

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 15 that Korea’s automobile exports for May reached a total of USD 6.2 billion, recording a historic high for May monthly exports and entering the $6 billion thresholds for the third consecutive month. Eco-friendly cars, which are higher in unit price, recorded $2.1 billion (up 64.3 percent) in exports for May, driving up the entire automobile exports. Normalization of automotive semiconductors and other parts supply la date2023-06-19

Trade Minister chairs Digital Trade Promotion Conference

Minister for Trade Dukgeun Ahn visited the e-commerce system control center and chaired the Digital Trade Promotion Conference on June 14 at the Trade Center in Seoul to seek measures to expand e-commerce exports and improve the digital-based export assistance system.   The conference was attended by representatives of e-commerce platform companies and digital technology and content exporting firms, and related institutes, including Korea Trade-Investment Promotion Agency (KOTRA), FAEM Gl date2023-06-16

Trade Minister chairs public-private trade barrier response committee meeting

Minister for Trade Dukgeun Ahn chaired the public-private joint trade barrier response committee meeting on June 14 at COEX in Seoul to facilitate discussions on non-tariff barrier issues and other major countries’ import regulations to revitalize exports.   The trade chief gave an opening message and led discussions on response measures against import regulations and overseas non-tariff barrier issues.   The meeting was attended by representatives of relevant ministries date2023-06-16

Korea's ICT exports reach $14.5 billion in May

The Ministry of Trade, Industry and Energy announced on June 14 that Korea's exports and imports of information and communications technology (ICT) goods for May recorded USD 14.5 billion (down 28.5 percent year-on-year) and $11.2 billion (down 11.2 percent), respectively. Trade balance stood at a surplus of $3.3 billion. ICT exports fell as a result of delayed recovery of global demand for ICT, the sluggish semiconductor industry, and the high base effect from last year’s all-time high M date2023-06-15

Korea becomes first country to join DEPA as non-founding member

Minister for Trade Dukgeun Ahn announced on June 9 on the occasion of the Organization for Economic Co-operation and Development (OECD) Ministerial Council Meeting (MCM) that Korea has officially acceded to the Digital Economy Partnership Agreement (DEPA) as a first non-founding member, signifying the expansion of the global digital trade network for securing digital economy competitiveness. DEPA is the world’s first multilateral digital trade agreement (came into effect in January 2021) date2023-06-12

Korea and France hold 19th Industrial Cooperation Committee meeting

Trade, Industry and Energy Ministry’s Director-General for International Trade Policy Yoon Chang-hyun presided the 19th Korea-France Industrial Cooperation Committee meeting on June 8 to discuss green industries, supply chain, and advanced industries’ R&D in light of France’s green industry bill. During the meeting, the Ministry’s delegation emphasized that France’s new subsidy standards for electric vehicles tied to low-carbon should not contain discriminatory date2023-06-12