Ministry of Trade, Industry and Energy

Minister for Trade Inkyo Cheong attended the 18^th Trade Advisory Committee Meeting on May 8 at Lotte Hotel Seoul to discuss future trade policy directions in view of recent changes in the global trade landscape.

 

The Trade Advisory Committee is a civil advisory body run by the Ministry of Trade, Industry and Energy (MOTIE) in accordance with the Act on procedures for concluding and implementing commercial treaties. Composed of 27 experts across the academic, industrial, and research spheres of various relevant areas, the Committee elected a new Chairperson and appointed new members during this meeting. The Committee is to be combined with another related committee dealing with domestic trade measures to form the Trade Policy Advisory Committee.

 

Attendees reviewed past trade policy outcomes and engaged in discussions on detailed policy tasks and proposals for Korea to play a key role in global trade while responding to trade environment shifts, such as this “super election year” and the rise in protectionism.

 

Trade Minister Cheong highlighted that MOTIE plans to “stabilize the supply chain and expand Korea’s export portfolio through upgrading and diversifying the trade network amid global paradigm shifts.”