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Trade/Investment
MOTIE and European nations' Ambassadors to Korea discuss cooperation
Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin attended a conference to discuss ROK-EU industrial and energy cooperation measures with European nations' ambassadors to South Korea. A total of 18 European countries’ ambassadors attended the event, including the Ambassador of the European Union to the Republic of Korea Maria Castillo Fernandez, Ambassador of the Czech Republic to the Republic of Korea Gustav Slamečka and Ambassador of the French Rep date2022-09-29
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Trade/Investment
Minister discusses energy crisis response with Korea's "Top 10"
Trade, Industry and Energy Minister Lee Chang-yang held a conference with Korea’s top 10 companies and associations on September 26 to discuss the current energy crises and to seek public-private joint response measures. Among those present were representatives of Samsung Electronics, SK's SUPEX Council, Hyundai Steel, LG and Lotte Chemical. Korea is up against numerous external and internal challenges at present amid the global energy crisis, high rates of exchange and interest, and poor date2022-09-29
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Trade/Investment
MOTIE and European nations' Ambassadors to Korea discuss cooperation
Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin attended a conference to discuss ROK-EU industrial and energy cooperation measures with European nations' ambassadors to South Korea. A total of 18 European countries’ ambassadors attended the event. Deputy Trade Minister Jeong introduced the industry, trade and energy policies that will be implemented under Korea’s new regime for overcoming global inflation, supply chain uncertainties and other economi date2022-09-29
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Trade/Investment
Korea's retail industry grows 15.4% in August
The Ministry of Trade, Industry and Energy (MOTIE) announced on September 28 that Korea’s retail sales in August posted year-on-year growth of 15.4 percent. Both physical and online retailers achieved growth in sales, up 14.5 percent and 16.4 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. Thirteen of them are physical retailers: three department store chains, three hypermarket chains, three convenience store chains, date2022-09-28
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Trade/Investment
Trade Minister attends Trade, Investment & Industry Ministerial G20 Meeting
Trade Minister Ahn Duk-geun attended the Trade, Investment and Industry Ministerial G20 Meeting held in Bali, Indonesia on September 21-23 to discuss supply chain reinforcement, digital trade, WTO reform and green investment. Bilateral talks with the U.S., Indonesia, India and several other G20 member states were also held on the sidelines. For each agenda, Minister Ahn relayed South Korea’s contributory efforts, policy directions under the new regime, and future joint measures to date2022-09-23
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Trade/Investment
MOTIE holds North American Investment Notification Ceremony and Investors Roundtable
The Ministry of Trade, Industry and Energy (MOTIE) held the North American Investment Notification Ceremony and Investors Roundtable on September 22 (local time) at the JW Marriott Essex House in New York on the occasion of South Korea’s President Yoon Suk-yeol’s first visit to the U.S. The Ministry announced that the event had drawn a total of USD 1.15 billion in investment from seven companies for the development of Korea’s strategic technology supply chain items like date2022-09-23
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Trade/Investment
Trade Minister attends Trade, Investment & Industry Ministerial G20 Meeting
Trade Minister Ahn Duk-geun attended the Trade, Investment and Industry Ministerial G20 Meeting held in Bali, Indonesia on September 21-23 to discuss supply chain reinforcement, digital trade, WTO reform and green investment. Bilateral talks with the U.S., Indonesia, India and several other G20 member states were also held on the sidelines. For each agenda, Minister Ahn relayed South Korea’s contributory efforts, policy directions under the new regime, and future joint measures to pu date2022-09-23
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Trade/Investment
Minister holds talks in Washington over IRA and CHIPS Act
Trade, Industry and Energy Minister Lee Chang-yang visited Washington D.C. on September 21 to meet with U.S. Secretary of Commerce Gina Raimondo and U.S. Representatives Kathy Castor and Barry Moore to raise concerns over IRA and CHIPS Act, and also exchanged views on ROK-U.S. supply chain cooperation. date2022-09-22
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Trade/Investment
Korea-EU talks on energy cooperation and IRA joint measures
Deputy Trade Minister Jeong Dae-jin met with European Parliament Vice-President Othmar Karas and Industry, Research and Energy Committee Chair Cristian Busoi on September 21 at the Lotte Hotel Seoul to discuss Korea’s new energy and industrial policies under the new regime, as well as technology and energy R&D cooperation, supply chain and joint measures against the recently signed U.S. Inflation Reduction Act (IRA). date2022-09-22
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Trade/Investment
Trade Minister holds multiple talks with U.S. officials over IRA issue
Trade Minister Ahn Duk-geun visited the U.S. and held talks with various members of Congress on the Inflation Reduction Act (IRA)’s discriminatory measures against Korean electric vehicles (EVs), relaying Korea’s stance and possible solutions. Minister Ahn met with a number of U.S. officials, including Senator Debbie Stabenow, U.S. Trade Representative Katherine Tai and Senator Todd Young, and emphasized the importance of ROK-U.S. cooperation and raised serious concerns over date2022-09-21