Ministry of Trade, Industry and Energy

Trade Minister meets Singapore’s Minister-in-charge of Trade Relations

Korea’s Trade Minister Inkyo Cheong met Singapore’s Minister-in-charge of Trade Relations Grace Fu on margins of the 2024 APEC Ministerial Meeting (AMM) on November 14 in Peru and discussed bilateral trade issues. date2024-11-20

Trade Minister meets Australian Minister for Small Business

Korea’s Trade Minister Inkyo Cheong met Australian Minister for Agriculture, Fisheries and Forestry and Minister for Small Business Julie Collins on margins of the 2024 APEC Ministerial Meeting (AMM) on November 14 in Peru and discussed bilateral trade issues. date2024-11-20

Trade Minister meets New Zealand’s Associate Minister of Foreign Affairs

Korea’s Trade Minister Inkyo Cheong met New Zealand’s Associate Minister of Foreign Affairs Todd McClay on margins of the 2024 APEC Ministerial Meeting (AMM) on November 14 in Peru and discussed bilateral trade issues. date2024-11-20

Trade Minister meets Indonesian Trade Minister

Korea’s Trade Minister Inkyo Cheong met Indonesian Trade Minister Budi Santoso on margins of the 2024 APEC Ministerial Meeting (AMM) on November 13 in Peru and discussed bilateral trade issues. date2024-11-20

Trade Minister meets Thai Minister of Commerce

Korea’s Trade Minister Inkyo Cheong met Thai Minister of Commerce Pichai Naripthaphan on margins of the 2024 APEC Ministerial Meeting (AMM) on November 13 in Peru and discussed bilateral trade issues. date2024-11-20

Korea and Africa hold Trade and Industry Cooperation Forum 2024

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea held the Korea-Africa Trade and Industry Cooperation Forum 2024 (“Forum”) today at the Trade Tower in Seoul, the first large-scale economic cooperation event for the two sides following the Korea-Africa Summit 2024 in June, which was the first and largest multilateral summit meeting between Korea and Africa. The Forum convened with the participation of roughly 200 persons including Korea’s Deputy Minister for Trade Park Jong-won, Moroccan Ambassador to Korea Chafik Rachadi, ambassador-level figures of 12 African countries, business leaders, and related experts. The Forum consisted of keynote presentation sessions, panel discussions, and one-on-one consultations.   In his congratulatory message, Deputy Minister Park stated that the Korea-Africa Summit 2024 is an invaluable culmination of Korea and Africa’s joint efforts and highlighted the importance of concretizing and developing its outcomes. Along this vein, he shared plans to actively support measures for implementation and new joint project discovery through platforms like the Public-Private Committee for Korea-Africa Economic Cooperation, while also reinforcing the institutional basis for economic cooperation via schemes such as the Economic Partnership Agreement (EPA) and the Trade and Investment Promotion Framework (TIPF).   During the first presentation session, the Korea Institute for International Economic Policy (KIEP) and the European-African Institute at Hanyang University covered the economic value of the Korea-Africa Summit 2024, current bilateral cooperation, and promising future collaboration areas. In the second session, the Institute of African Knowledge Sharing and DR & AJU Law Group LLC briefed the audience on key factors of consideration in entering the African market such as Africa’s legal system and business culture. After the Forum, Korean companies engaged in one-on-one consultations where they sought advice on business issues of interest. date2024-11-19

Trade Minister attends APEC Ministerial Meeting AMM

Minister for Trade Inkyo Cheong of the Republic of Korea attended the 35th Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting (AMM) Session 3 on November 14 in Lima, Peru, where he emphasized the need for global solidarity amid the uncertain economic environment and proposed measures to maintain the WTO-centered multilateral trade system and realize the FTAAP. date2024-11-18

Groundbreaking ceremony of JSR Corporation’s metal oxide resist plant

Deputy Minister for Trade and Investment Kim Dae-ja of the Republic of Korea attended the groundbreaking ceremony of Japanese company JSR Corporation’s metal oxide resist (MOR) production plant on November 12 in Ochang, North Chungcheong Province. date2024-11-13

JSR Corporation to establish EUV metal oxide resist production base in Korea

Deputy Minister for Trade and Investment Kim Dae-ja of the Republic of Korea attended the groundbreaking ceremony of Japanese company JSR Corporation’s metal oxide resist (MOR) production plant today in Cheongju, North Chungcheong Province. Established in 1957, JSR Corporation is a world-leading semiconductor photoresist manufacturer, and has been steadily increasing investment in Korea since building its display materials plant in Ochang in 2003. Today’s groundbreaking ceremony makes JSR Corporation the first company in the world to establish a production base in Korea to manufacture metal oxide resists for extreme ultraviolet lithography (EUV) processing. Capable of replacing low-end chemically amplified resists, EUV metal oxide resists play a key role in securing competitiveness in ultra-fine processes, on which major chip producers are concentrating all their effort. JSR Corporation plans to complete the plant construction and begin mass-producing metal oxide resists by 2026, through which Korea expects to better meet domestic demand and boost its semiconductor industry competitiveness.    date2024-11-12

Trade Minister chairs 41st Trade Promotion Committee meeting

Minister for Trade Inkyo Cheong of the Republic of Korea chaired the 41st Trade Promotion Committee meeting today in Seoul with the participation of relevant ministries, focusing on ways to stably manage Korea-U.S. trade issues in view of the U.S.’ recent presidential election results and future policy shift prospects. date2024-11-11