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Trade/Investment
Minister Ahn makes first stop at KITA in initiating cooperation with leading economic entities
Trade, Industry and Energy Minister Dukgeun Ahn visited the Korea International Trade Association (KITA) on January 10 and held talks with KITA Chairman Koo Ja-yeol. The visit is part of the minister’s aim to strengthen communication with Korea’s six major economic entities after taking post, emphasizing close communication between public and private sectors with utmost policy priority on promoting exports. Minister Ahn noted the need for the public and private sectors to work as &l date2024-01-10
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Trade/Investment
FDI pledges to Korea in 2023 reach an all-time high of $32.7 billion
The Ministry of Trade, Industry and Energy announced on January 3 that the annual foreign direct investment (FDI) pledges reached a new high in 2023 at USD 32.7 billion, marking a 7.5 percent growth from the previous year. The FDIs that actually arrived in Korea over the same period grew by 3.4 percent growth from the previous year to $18.8 billion, also setting a new record. Korea achieved these records despite the poor global FDI performance in 2023 thanks to heavy investments in high tech in date2024-01-05
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Trade/Investment
Korea's exports grow 5.1% in December
The Ministry of Trade, Industry and Energy (MOTIE) announced on January 1 that Korea’s export value for the month of December advanced 5.1 percent year-on-year to this year’s monthly highest of USD 57.7 billion. Imports shrank 10.8 percent to $53.2 billion, and the trade balance stood at a surplus of $4.5 billion. By item, semiconductor exports leaped 21.8 percent and grew for the second consecutive month, reaching the highest for this year at $11.0 billion and continuing the recove date2024-01-02
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Trade/Investment
Korea Trade Commission gives final decision on anti-dumping investigations on coated printing paper
The Korea Trade Commission under the Ministry of Trade, Industry and Energy (MOTIE) held the 443rd Trade Commission meeting on December 21 and announced its final decision to impose anti-dumping duties (8.22-16.23%) on coated printing paper imported from Japan, China and Finland for an extension of five years after holding stakeholders’ meetings, public hearings and local inspections in response to two Korean paper manufacturers’ request for a retrial since the anti-dumping date2023-12-22
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Trade/Investment
MOTIE to receive opinions on proposed amendments to Foreign Investment Promotion Act
The Ministry of Trade, Industry and Energy (MOTIE) announced on December 20 the proposed amendments to the Foreign Investment Promotion Act as a notification prior to legislation. The amendments are aimed at enhancing the effectiveness of the review and deliberation on foreign investment with respect to national security and to reduce uncertainties for investors. Major amendments focus on the following: elaboration of reasons for launching the national security deliberation; clarifying the grou date2023-12-22
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Trade/Investment
Vice Minister discusses EV subsidies and other trade issues with French Trade Minister
Trade, Industry and Energy Vice Minister Youngjin Jang met Olivier Becht, the French Minister for Foreign Trade, Attractiveness and French Nationals Abroad, on December 19 in Seoul to request cooperation in trade issues, including France’s electric vehicle (EV) subsidies, and discussed measures to expand industrial cooperation in aerospace, R&D and carbon-free energy, such as nuclear power. France unveiled the list of EVs eligible for subsidies on December 15, the majority of which ar date2023-12-19
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Trade/Investment
MOTIE holds conference for sharing foreign investment regulatory improvement outcomes & future direction
The Ministry of Trade, Industry and Energy (MOTIE) held a conference on December 18 at the Korea Chamber of Commerce and Industry (KCCI), chaired by MOTIE's International Trade & Investment Deputy Minister Kim Wan-ki, to share foreign investment policy trends, regulatory improvement outcomes and discuss the challenges voiced by foreign-invested companies. The conference was attended by approximately 20 persons, consisting of representatives of the Chambers of Commerce of seven countries, in date2023-12-19
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Trade/Investment
Korea and Netherlands hold CEO Roundtable
Minister for Trade Dukgeun Ahn attended the Korea-Netherlands CEO Roundtable on December 13 in Amsterdam to discuss measures for stronger cooperation in bilateral industries and economy with Dutch Minister of Economic Affairs and Climate Policy Micky Adriaansens, government officials and representatives of semiconductor, mobility, chemicals and energy businesses of both countries. date2023-12-15
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Trade/Investment
Korea and Netherlands hold business forum & MOU signing ceremony
Minister for Trade Dukgeun Ahn attended the Korea-Netherlands Business Forum on December 13 in Amsterdam and gave an opening address. The event was also attended by Dutch Minister of Economic Affairs and Climate Policy Micky Adriaansens, both countries’ government officials and business leaders. Both sides' delegations also attended the Korea-Netherlands Business Forum MOU signing ceremony for parties’ entering of a technical feasibility study agreement for the Dutch nuclear reactor date2023-12-15
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Trade/Investment
Total of 19 MOUs sealed at Korea-Netherlands Business Forum for cooperation in advanced industries and more
Minister for Trade Dukgeun Ahn and the Netherlands' Minister of Economic Affairs and Climate Policy Micky Adriaansens attended the Korea-Netherlands Business Forum on December 13, co-hosted by the Korea International Trade Association (KITA), the Dutch Foreign Affairs Ministry and VNO-NCW, the Dutch employers' federation. This was the first large-scale business forum held by the two countries, attended by approximately 200 business representatives to discuss measures for widening bilateral coope date2023-12-14