Ministry of Trade, Industry and Energy

Trade Minister presides 27th Trade Promotion Committee meeting

Trade Minister Ahn Duk-geun presided the 27th Trade Promotion Committee on May 27 at the Government Complex Seoul in the attendance of various relevant ministries to discuss the Indo-Pacific Economic Framework (IPEF), Korea-U.S. summit follow-up measures and its economic implications. The Committee meeting was attended by officials from relevant ministries, including the Ministry of Economy and Finance, the Ministry of Foreign Affairs and the Ministry of Employment and Labor. In his opening re date2022-06-03

Trade Minister holds talks with Ambassador of the EU to the Republic of Korea

Trade Minister Ahn Duk-geun had talks with Maria Castillo-Fernandez, Ambassador of the European Union to the Republic of Korea, on May 27 at the Government Complex Seoul to discuss future industries and supply chain cooperation between Korea and the EU.   Minister Ahn stated that “EVs, batteries and semiconductors, and such future industries currently show very robust Korea-EU supply chain cooperation,” and added that “based on these bilateral collaborations, K date2022-06-03

Trade Minister holds 27th Trade Promotion Committee meeting

Trade Minister Ahn Duk-geun presided the 27th Trade Promotion Committee on May 27 at the Government Complex Seoul in the attendance of various relevant ministries to discuss the Indo-Pacific Economic Framework (IPEF), Korea-U.S. summit follow-up measures and its economic implications.   Minister Ahn delivered his opening remarks and facilitated discussions on the IPEF progress and future directions, in addition to the economic outcomes of the recent Korea-U.S. summit.    The C date2022-06-02

Korea's exports achieve 21.3% growth in May

The Ministry of Trade, Industry and Energy announced on June 1 that Korea’s May exports increased 21.3 percent to USD 61.5 billion. Imports expanded 32.0 percent to $63.2 billion, resulting in a trade deficit of $1.7 billion. Despite high interest rates, high prices and continued global supply chain instabilities, exports achieved positive growth for 19 months running, which is the third longest period of consecutive growth since 2000. Monthly exports recorded second in value to month of date2022-06-02

Minister Lee visits KITA and Global Supply Chain Analysis Center

Trade, Industry and Energy Minister Lee Chang-yang visited the Korea International Trade Association (KITA) and the Global Supply Chain Analysis Center located in Seoul on May 27 to receive a briefing on the recent supply chain and logistics concerns, and to discuss current global supply chain impact and future government trade policy directions.   At the Global Supply Chain Analysis Center, Minister Lee encouraged the site employees and had talks with KITA Chairman Koo Ja-yeol, during wh date2022-05-31

Trade Minister holds 1st Commerce Industry Forum

Trade Minister Ahn Duk-geun held the 1st Commerce Industry Forum on May 26 at the Lotte Hotel Seoul to share the major outcomes of the recent Korea-U.S. summit with industry representatives and discuss new trade policy directions in line with the changing global trade landscape as well as public-private cooperation measures with respect to Korea’s participation in the Indo-Pacific Economic Framework (IPEF).   The event was attended by Korea International Trade Association (KITA) V date2022-05-31

Korea's retail industry achieves 10.6% growth in April

The Ministry of Trade, Industry and Energy announced on May 30 that Korea’s retail industry saw a 10.6 percent gain in sales in April compared to the same period last year. Both offline and online retailers saw growth, up 10.2 percent and 11.0 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, and date2022-05-30

MOTIE attends 28th APEC MRT Meeting

Trade, Industry and Energy Ministry (MOTIE)’s Deputy Minister for International Trade and Legal Affairs Ahn Sung-il attended the 28th Asia-Pacific Economic Cooperation (APEC) MRT (Ministers Responsible for Trade) meeting on May 21-22 held in Bangkok, Thailand to discuss supply chain, digital, and environment issues for an inclusive and sustainable future.   In his opening remarks, Deputy Minister Ahn proposed measures on supply chain stabilization, climate change response, digital date2022-05-27

MOTIE attends 28th APEC MRT Meeting

Trade, Industry and Energy Ministry (MOTIE)’s Deputy Minister for International Trade and Legal Affairs Ahn Sung-il attended the 28th Asia-Pacific Economic Cooperation (APEC) MRT (Ministers Responsible for Trade) Meeting on May 21-22 held in Bangkok, Thailand. APEC is the world’s largest economic consultative organization for sustainable economic growth and mutual prosperity consisting of 21 nations, taking up 62.2% of global GDP and 51.9% of total trade volume as of 2020. This 28t date2022-05-25

Minister Lee co-hosts Korea-U.S. business roundtable

Trade, Industry and Energy Minister Lee Chang-yang co-hosted the Korea-U.S. Business Roundtable with U.S. Secretary of Commerce Gina Raimondo at the Grand Hyatt Seoul on May 21 to strengthen Korea-U.S. partnership and expand supply chain cooperation.   Minister Lee delivered opening remarks and participated in discussions on measures to expand bilateral trade and investment for mutually beneficial economic cooperation.   In attendance were business representatives and government of date2022-05-25