Ministry of Trade, Industry and Energy

Minister for Trade attends IPEF Symposium

Minister for Trade Dukgeun Ahn attended the Indo-Pacific Economic Framework for Prosperity (IPEF) Symposium on November 3 in Seoul, held under the theme of “Order in the Indo-Pacific Region and Korea’s Negotiation Strategy: Economic Security and Trade Cooperation.”   In his congratulatory message, Minister Ahn stated that “the international order is rapidly changing due to geopolitical factors like the intensifying U.S.-China competition and Ukraine situation,&rdqu date2022-11-04

MOTIE hosts Invest Korea Week 2022

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 2 that it was hosting Invest Korea Week (IKW) 2022 with co-organizers Korea Trade-Investment Promotion Agency (KOTRA) and Korea International Broadcasting Foundation (KIBF) at Grand InterContinental Seoul Parnas over a period of three days from November 2 to November 4. IKW aims to share Korea’s attractive investment environment and all-time high FDI achievements in 2022, which are all the more meaningful amid the cu date2022-11-03

MOTIE attends Foreign Company Day 2022

Minister for Trade Dukgeun Ahn attended the Foreign Company Day 2022 ceremony on November 1 at Intercontinental Hotel Seoul to award 44 companies’ representatives orders and merits of honor for their contribution to boosting FDI.   Minister Ahn gave a congratulatory message, stating that “foreign-invested companies have played the catalyst in advancing Korea’s industrial structure and recently are even stabilizing the supply chain by investing in MPE (materials, parts, date2022-11-02

MOTIE holds 30th Trade Promotion Committee

Dukgeun Ahn, Minister for Trade, presided the 30th Trade Promotion Committee on November 2 at the Korea Chamber of Commerce and Industry (KCCI) to discuss countermeasures to EU’s Carbon Border Adjustment Mechanism (CBAM) legislation and agendas on Korea-Philippines Digital Partnership Agreement (DPA).   The meeting was attended by officials of MOTIE and other ministries, including the Ministry of Economy and Finance, Ministry of Foreign Affairs and the Office for Government Policy date2022-11-02

MOTIE holds 30th Trade Promotion Committee & 4th IRA Countermeasures TF

Dukgeun Ahn, Minister for Trade, presided the 30th Trade Promotion Committee on November 2 at the Korea Chamber of Commerce and Industry (KCCI) and spoke in his opening message on Korea’s progress in climate change response and industrial competitiveness with respect to legal and systemic enforcement. He emphasized that it is crucial for the Government and companies to take utmost care in responding to other countries’ policies so they do not end up facing limitations or discriminat date2022-11-02

Korea's exports fall 5.7% in October

The Ministry of Trade, Industry and Energy announced on November 1 that Korean exports in October decreased 5.7 percent year-on-year to USD 52.5 billion. Imports rose 9.9 percent to $59.2 billion and the trade balance stood at a deficit of $6.7 billion. The fall in exports was affected by unfavorable external conditions such as the global economic downturn, protracted Russia-Ukraine war and major countries’ austerity measures. China’s reduced imports and semiconductor price falls, c date2022-11-01

9th International Conference held in Busan

The Ministry of Trade, Industry and Energy (MOTIE) announced that the World EXPO 2030 Busan Advisory Committee (hereinafter “Committee”), the city of Busan and the Korea Chamber of Commerce and Industry (KCCI) will host the 9th International Conference (hereinafter “Conference”) on October 27 at KCCI under the theme of “Transforming our world, navigating toward a better future.” Approximately 100 persons will attend the Conference, including key figures regar date2022-10-27

Trade Minister visits EU to discuss trade and economic cooperation

Trade Minister Ahn Duk-geun visited Hungary, Lithuania and the Czech Republic through October 24-28 as presidential envoy to discuss trade and economic cooperation, and requested support for World EXPO 2030 Busan.   Minister Ahn met with Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó on October 24 and expressed gratitude for Hungary being the first European country to officially announce its support for Korea hosting World EXPO 2030. He also rel date2022-10-27

Trade Minister visits EU to discuss trade and economic cooperation

Trade Minister Ahn Duk-geun visited Hungary, Lithuania and the Czech Republic through October 24-28 as presidential envoy to discuss trade and economic cooperation, and requested support for World EXPO 2030 Busan. Minister Ahn met with Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó on October 24 and expressed gratitude for Hungary being the first European country to officially announce its support for Korea hosting World EXPO 2030. He relayed the dif date2022-10-26

MOTIE holds conference for energy sector to discuss IRA

The Ministry of Trade, Industry and Energy (MOTIE) held a conference on October 25 at the Korea Chamber of Commerce and Industry (KCCI) for energy sectors with regard to the U.S.' Inflation Reduction Act (IRA), to discuss its impact and the countermeasures to be considered for companies in nuclear power, renewable energy, hydrogen and clean energy industries. Having entered into force on August 16, the IRA is a law for solar power, wind power, hydrogen, nuclear energy, EVs, batteries and such c date2022-10-25