Ministry of Trade, Industry and Energy

Korea and the Netherlands discuss energy and economic cooperation

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin met with the Netherlands Vice Minister for Foreign Economic Relations Hanneke Schuiling on October 18 at the Lotte Hotel Seoul to discuss semiconductors, nuclear energy, hydrogen and advancement of bilateral economic ties. date2022-10-24

Trade Minister holds talks with top EU officials on IRA

Trade Minister Ahn Duk-geun met with British Ambassador to the Republic of Korea Colin Crooks, Swedish Ambassador to the Republic of Korea Daniel Wolven, Ambassador of the Federal Republic of Germany to the Republic of Korea Michael Reiffenstuel, and Christophe Bess, Charge' d'affaires of the European Union on October 19 in Seoul to discuss response measures to the U.S.’ Inflation Reduction Act (IRA). date2022-10-21

Korea and Philippines to bolster supply chain and energy cooperation

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin met with Ceferino S. Rodolfo, Philippines’ Undersecretary for the Industry Development Group (IDG) of the Department of Trade and Industry on October 18 on the occasion of his visit to Korea and discussed raw materials supply chain and nuclear energy cooperation, and held the second meeting of Korea-Philippines Joint Commission for Trade and Economic Cooperation. date2022-10-20

Korea and Philippines to bolster supply chain and nuclear energy cooperation

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin met with Ceferino S. Rodolfo, Philippines’ Undersecretary for the Industry Development Group (IDG) of the Department of Trade and Industry on October 18 on the occasion of his visit to Korea and discussed raw materials supply chain and nuclear energy cooperation, and held the second meeting of Korea-Philippines Joint Commission for Trade and Economic Cooperation (hereinafter “Commission”). Both sid date2022-10-20

Korea and Saudi Arabia to expand cooperation and investment

Trade, Industry and Energy Minister Lee Chang-yang held talks with Saudi Arabia’s Investment Minister Khalid A. Al-Falih on October 17 via videoconferencing at the Government Complex Sejong to discuss bilateral industrial cooperation, investment expansion and future directions for Korea-Saudi Vision 2030 Committee. date2022-10-18

Korea and Saudi Arabia to strengthen cooperation in new industries

Trade, Industry and Energy Minister Lee Chang-yang met with Saudi Arabia’s Investment Minister Khalid Al-Falih to discuss bilateral industrial cooperation, investment and future directions for the Korea-Saudi Vision 2030 Committee (hereinafter “Committee”). The two Ministers assessed that the Committee has played a pivotal role in the advancement of their mutually supplementary economic cooperation, which they concurred should be further upgraded on the basis of the 60th anniv date2022-10-18

Korea's ICT trade achieves $7.9 billion surplus in September

The Ministry of Trade, Industry and Energy announced on October 14 that outbound shipments of Korea’s information and communications technology (ICT) goods for September recorded USD 20.9 billion, taking up 36.3 percent of Korea’s total exports. Imports increased 13.7 percent to $12.9 billion, and the trade balance stood at a surplus of $7.9 billion. Among the major items, deteriorating global economic conditions dragged down exports of chips, displays and computers and peripherals date2022-10-14

Korea's automobile export value grows 34.7% in September

The Ministry of Trade, Industry and Energy announced on October 14 that automobile production, domestic sales and exports all posted double-digit growths of 34.1 percent, 23.1 percent and 27.5 percent, respectively. The growth is attributable to improved automobile semiconductor supply situation, higher number of operating days in comparison, and continued overseas demand for domestic cars. Automobile production in September rose 34.1 percent to 307,721 units, growing for five consecutive mont date2022-10-14

Korea and Australia hold talks on critical minerals and supply chain

Trade Minister Ahn Duk-geun met with Australia’s Trade and Tourism Minister Don Farrell on October 13 in Seoul to discuss FTA, critical minerals, WTO, supply chain and other bilateral and multilateral trade issues. date2022-10-14

Korea and Australia hold talks on critical minerals and supply chain

Trade Minister Ahn Duk-geun held talks with Australia’s Trade and Tourism Minister Don Farrell on October 13 on the occasion of the latter's visit to Korea, and discussed ROK-Australia’s critical minerals cooperation expansion measures, WTO reform and bi-, multi-lateral trade issues, and requested Australia’s support for World EXPO 2030 Busan. The bilateral talks are the first to be held after Korea and Australia’s relations were upgraded to a comprehensive and strategic date2022-10-14