The Ministry of Trade, Industry and Energy (MOTIE)’s Trade Minister Yeo Han-koo held an “Emergency Trade Assessment Meeting” on May 2 at the Korea Trade-Investment Promotion Agency (KOTRA) in Seoul to examine trade and response measures amid ongoing external risks and two consecutive months of trade deficit.

Minister Yeo delivered opening remarks, and led discussions on how the Russia-Ukraine situation, China’s zero-COVID lockdowns, Indonesia’s palm oil exports ban, and Myanmar’s new foreign currency rules are impacting Korea’s imports and exports. Trade Commissioners and Consultants shared reports on local trade and market conditions.

The meeting was attended by MOTIE officials and KOTRA personnel via videoconferencing and in-person.