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Trade/Investment
Trade Minister holds 31st Trade Promotion Committee meeting
Minister for Trade Dukgeun Ahn held the 31st Trade Promotion Committee meeting on January 30 at the Korea Chamber of Commerce and Industry (KCCI) to discuss major trade policy tasks amidst the rapidly changing global trade environment. The Trade Minister gave an opening message and led discussions on the Trade and Investment Promotion Framework (TIPF), FTA directions for 2023 and outcomes of the WTO trade ministerial meeting that was held on occasion of the forum at Davos. The date2023-01-31
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Trade/Investment
Korea's auto export value grows 16.4% in 2022
The Ministry of Trade, Industry and Energy (MOTIE) announced on January 30 that Korea’s annual automobile export value for 2022 increased 16.4 percent to USD 54.1 billion, and export volume gained by 13.3 percent to 2.3 million units. In terms of automobile production and domestic sales, the industry saw an 8.5 percent increase and 2.4 percent decline, respectively. Exports growth is attributed to rising demand for domestic brands for their high quality, as well as relatively competitive date2023-01-30
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Trade/Investment
Trade Minister visits smart farming company to discuss exports
Minister for Trade Dukgeun Ahn visited NextOn, a smart farming company in Seocho-gu, Seoul, on January 26 to tour the smart farm cultivation site and discuss measures to counter obstacles faced by domestic exporters. Trade Minister Ahn was briefed by NextOn CEO Choi Jae-bin on company management and challenges before touring the site and encouraging employees. date2023-01-30
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Trade/Investment
Trade Minister discusses exports with think tank group
Minister for Trade Dukgeun Ahn held a conference on exports with research institutes at the Korea Chamber of Commerce and Industry (KCCI) on January 26 to forecast Korea’s economy and exports performance for 2023 and share government policies on exports strengthening measures. Trade Minister Ahn assessed the impact of difficult external conditions like oil prices and exchange rates on the Korean economy, and facilitated discussions touching on various topics, including semiconduct date2023-01-26
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Trade/Investment
Korea and UAE agree to strengthen public-private economic cooperation
Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin held the working group meeting of Korea-Middle East public-private joint committee for economic cooperation on January 25 at the Korea International Trade Association (KITA) in the attendance of relevant ministries, public institutions and private sector companies. The meeting consisted of two programs, the first of which focused on follow-up and implementation measures of the 16 MOUs signed between the two governme date2023-01-26
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Trade/Investment
MOTIE holds public-private working group meeting on Korea-Middle East economic cooperation
Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin held the public-private joint committee working group meeting on Korea-Middle East economic cooperation on January 25 at the Korea International Trade Association (KITA) to discuss 48 implementation measures following recent MOUs, building upon the Korea-UAE summit diplomacy momentum. The Deputy Trade Minister exchanged views regarding energy, new industries, national defense, SMEs, trade and investment with date2023-01-25
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Trade/Investment
Trade Minister attends trade ministerial sessions at Davos
Minister for Trade Dukgeun Ahn attended the World Economic Forum (WEF) 2023 held in Davos, Switzerland, as of January 18, where he partook in various sessions discussing key issues with many other countries’ government and business leaders. He attended “The Case for Trade” session with U.S. Trade Representative Katherine Tai as one of the panelists and emphasized the need for stronger global trade solidarity for revitalization of the free trade system so as to respond date2023-01-20
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Trade/Investment
Minister discusses investment deals with global companies at Davos
Trade, Industry and Energy Minister Lee met with the management personnel of German multinational science and technology company Merck and Swiss healthcare company Novartis, respectively, at Davos on January 19 to discuss investment in Korea. Merck Life Science CEO Matthias Heinzel shared investment achievements and future cooperation measures, revealing that Korea is one of the major candidate sites for the company’s upcoming new plant for raw and subsidiary bio materials.   date2023-01-20
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Trade/Investment
Trade Minister attends trade ministerial sessions at Davos
Minister for Trade Dukgeun Ahn attended the World Economic Forum (WEF) 2023 held in Davos, Switzerland, as of January 18, where he partook in various sessions discussing key issues with many other countries’ government and business leaders. Trade Minister Ahn attended the “The Case for Trade”, “Busting Business Barriers” and Trade and Investment Leadership Breakfast sessions to discuss measures for restoring the global trade system and investment. He attended &ldq date2023-01-20
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Trade/Investment
Minister discusses investment deals with global companies
The Ministry of Trade, Industry and Energy (MOTIE) announced on January 18 the decision of world-leading Danish wind turbine manufacturer Vestas to invest USD 300 million in South Korea, to which the company is positively considering moving its Asia-Pacific regional headquarters to South Korea. An investment deal ceremony was held in Davos, Switzerland, to mark the decision. With the $300 million investment, Vestas plans to build a large-scale wind turbine plant in Korea for producing core equ date2023-01-20