Ministry of Trade, Industry and Energy

Minister for Trade Inkyo Cheong attended the Korea-Angola Business Forum, co-hosted by Korea’s Ministry of Trade, Industry and Energy (MOTIE) and the Angolan government, on April 29 in Seoul on the occasion of Angola’s President João Lourenço’s state visit, and held extensive bilateral discussions on cooperation in trade, investment, renewable energy, shipbuilding, and offshore plant projects.

 

The forum was attended by approximately 180 representatives of both countries’ governments, institutions, and companies, including the Sonangol Group and HD Hyundai Heavy Industries.

 

In his opening address, Trade Minister Cheong extended gratitude towards President Lourenço’s interest in pursuing economic cooperation with Korea and stated that the Korean government will likewise provide full support to expand bilateral cooperation in manufacturing, renewable energy, and other areas, based on the initial collaboration centering on energy, shipbuilding, and offshore plant.

 

Moreover, the trade promotion institutions of both countries, namely Korea Trade-Investment Promotion Agency (KOTRA) and Agency for Private Investment and Promotion of Exports of Angola (AIPEX), entered a memorandum of understanding (MOU) on establishing the basis for supporting the two countries’ business exchanges, including partner matchings and exchange of trade and investment information. Accordingly, KOTRA plans to set up a Korea promotion exhibition booth in the international symposium to be held in Luanda, Angola, in July as part of pushing forward projects for promoting bilateral trade.