Ministry of Trade, Industry and Energy

Trade Minister holds Korea-US talks on sanctions against Russia and related trade issues

Trade Minister Yeo Han-koo held talks with United States Deputy Secretary of Commerce Don Graves and Trade Representative (USTR) Katherine Tai in Washington D.C. on Mar 3 and Mar 4, respectively, to discuss Korea-US sanctions against Russia, the Indo-Pacific Economic Framework (IPEF), Section 232 steel tariffs, and related trade policy coordination issues.  date2022-03-11

Trade Minister holds "Russia-Ukraine Situation Emergency Meeting with Exporters and Importers”

Trade Minister Yeo Han-koo held a 'Russia-Ukraine Situation Emergency Meeting with Exporters and Importers” on February 28 at the World Trade Center Seoul to assess repercussions on trade businesses, logistics, and raw materials supply.   Minister Yeo delivered an opening message, followed by exchange of views regarding industry outlook in the case of further escalations, as well as current response measures against logistics risks and materials supply chain challenges. & date2022-03-03

Korea’s exports expand 20.6% to $53.9 billion in February

The Ministry of Trade, Industry and Energy announced on March 1 that Korea’s export value went up 20.6 percent to USD 53.9 billion in February. Imports also increased 25.1 percent to $53.1 billion. The trade balance stood at a surplus of $0.8 billion, faring positive despite high imports from soaring energy prices. Despite rising raw material prices and Russia-Ukraine escalations, February’s trade balance achieved a much better performance compared to January’s, rising by $5.7 date2022-03-02

Trade Minister holds pan-ministerial 25th Trade Committee Meeting

Trade Minister Yeo Han-koo held the pan-ministerial 25th Trade Committee Meeting in Government Complex Seoul on February 24 to discuss response measures in light of the Russia-Ukraine crisis, changing landscape of the Asia-Pacific region’s trade order, and future pursuits for digital trade partnerships. The trade chief stressed the following two points at the beginning of the meeting. One is that the meeting aims to assess the impact of Russia-Ukraine situation on the region’s real date2022-02-28

Korea and Australia sign MOUs on critical minerals and supply chain

Energy Vice Minister Park Ki-young attended the 1st Critical Minerals Working Group Meeting held in Canberra, Australia on February 24 to discuss the two countries’ bilateral cooperation on critical minerals and supply chain. At the meeting, Vice Minister Park delivered opening remarks and exchanged views with Australian counterparts on Korea-Australia critical minerals strategy and R&D cooperation measures. He also attended the signing ceremony of 6 MOUs between the two countries&rsq date2022-02-28

MOTIE holds 25th Trade Committee Meeting

Trade Minister Yeo Han-koo held the 25th Trade Committee Meeting in Government Complex Seoul on February 24 in the presence of relevant ministries’ officials in order to assess the economic impact from the current Russia-Ukraine crisis and push prompt measures in response to the changing Asia-Pacific trade landscape.   The trade chief delivered an opening message, in which he addressed the current military tension buildup and need for an overall monitoring of trade and commerce envi date2022-02-28

MOTIE holds Meeting on Russia-Ukraine Crisis Impact on Major Businesses & Exports

Trade Minister Yeo Han-koo presided the “Russia-Ukraine Crisis Impact Assessment on Major Businesses & Exports' meeting on February 22 at the K-Sure headquarters in Seoul in light of the recent geopolitical situation. This meeting was convened for the purpose of assessing repercussions from the current Russia-Ukraine conflict escalation on Korea’s businesses and exports, and to provide exports stimulus through support measures. Minister Yeo discussed future import and export pro date2022-02-23

Minister Moon attends Dialogue with Foreign-Invested Companies

Trade, Industry, and Energy Minister Moon Sung-wook attended the Dialogue with Foreign-Invested Companies presided by President Moon Jae-in at the Blue House on February 17, where representatives of Chambers of Commerce, foreign-invested companies, government officials, and Korea Trade-Investment Promotion Agency (KOTRA) gathered under the theme of “K Dream,” promoting win-win growth of Korea’s economy and foreign-invested companies. The event was convened amidst Korea’s date2022-02-22

Korea and Indonesia sign MOU on “Cooperation of Critical Minerals”

Trade, Industry, and Energy Minister Moon Sung-wook held talks with Indonesia’s Energy and Mineral Resources Minister Arifin Tasrif in Jakarta on February 21, where the two countries signed the Korea-Indonesia MOU on “Cooperation of Critical Minerals.”   During the meeting, the two Ministers shared views on bilateral cooperation across various areas, including core minerals like nickel and rare earth elements, LG Energy Solution Grand Package (mineral lot), electric date2022-02-22

Trade Minister attends 14th Trade Advisory Committee Meeting 

Trade Minister Yeo Han-koo attended the 14th Private Sector Trade Advisory Committee Meeting at the Lotte Hotel Seoul on February 16 to discuss national wealth creating trade implementation plans and government policy directions.   After his opening message, Minister Yeo went on to discuss various issues, including the status quo and future plans for national wealth creating trade, Korea’s application and follow-up measures for the Comprehensive and Progressive Agreement for Trans-P date2022-02-17