Ministry of Trade, Industry and Energy

Korea-Turkmenistan high-level talks on plant cooperation

Minister of Trade, Industry and Energy of the Republic of Korea Dukgeun Ahn and Deputy Chairman of the Cabinet of Ministers of Turkmenistan for Construction and Industrial Complex Baymyrat Annamammedov held Korea-Turkmenistan high-level talks in Seoul on April 18 and discussed bilateral plant cooperation. date2025-04-21

Türkmenabat mineral fertilizer plant PJT framework agreement ceremony

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn and Deputy Chairman of the Cabinet of Ministers of Turkmenistan for Construction and Industrial Complex Baymyrat Annamammedov attended a signing ceremony for the Framework Agreement on a $700 million mineral fertilizer plant project to be commissioned by “Turkmenhimiya” State Concern, in which Korea’s Daewoo E&C will participate as a contractor. date2025-04-21

Korea and Turkmenistan kick plant cooperation into high gear

Minister of Trade, Industry and Energy of the Republic of Korea Dukgeun Ahn and Deputy Chairman of the Cabinet of Ministers of Turkmenistan for Construction and Industrial Complex Baymyrat Annamammedov held Korea-Turkmenistan high-level talks in Seoul on April 18 and discussed bilateral plant cooperation. Prior to the talks, a signing ceremony for the Framework Agreement on a mineral fertilizer plant project, worth 700 million US dollars, was held. This project will be commissioned by “Turkmenhimiya” State Concern and Korea’s Daewoo E&C will participate as a contractor. Once completed, the plant will process phosphorus extracted from mining phosphate rocks in the Türkmenabat region to produce fertilizers, which is anticipated to help improve Turkmenistan’s industrial and agricultural productivity and diversify the country’s export portfolio.   During the high-level talks, Minister Ahn proposed a swift conclusion of the final agreement for the Türkmenabat mineral fertilizer plant project and requested the Turkmen government’s support for Korean companies to ensure their participation in additional plant projects going forward. date2025-04-18

Korea and Vietnam ink MOUs for wider economic cooperation

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn met Vietnam’s Minister of Industry and Trade Nguyen Hong Dien today in Hanoi for the 14th Korea-Vietnam Joint Industrial Committee and 8th Korea-Vietnam FTA Joint Committee meetings and discussed measures for wider economic cooperation between the two countries. During the Korea-Vietnam Joint Industrial Committee meeting, the two sides discussed detailed implementation measures for reaching USD 150 billion in bilateral trade volume by 2030 and agreed to cooperate on Vietnamese nuclear reactor projects, LNG power generation, clean energy development, and textile sector investments as well as on resuming logistics policy meetings at the director general level. In the following FTA Joint Committee meeting, the two delegations reviewed key issues including the amendment of the bilateral FTA for cost reduction and streamlining of customs procedures for exporting businesses, the expansion of electrical safety certification institutes, broadening the export and import range of agricultural and livestock products, and import regulations. They also discussed ways to enhance companies’ utilization of the bilateral FTA. A memorandum of understanding (MOU) signing ceremony was held on the heels of the FTA Joint Committee meeting, where the chief delegates of both countries signed the MOU on achieving $150 billion in bilateral trade volume by 2030 and the director generals in charge of nuclear power development inked an MOU on bilateral nuclear reactor cooperation. Moreover, Korea Electric Power Corporation (KEPCO) entered into an MOU with Vietnam’s state-owned power transmission company for cooperation in power grids and new energy industries.  In the evening of the same day, Minister Ahn convened a conference with the representatives of 16 Korean companies operating in the local Vietnamese market to discuss business issues, stating that the ministry will make continued effort to maintain intergovernmental, high-level consultations with relevant authorities.   date2025-04-15

Korea and Vietnam hold ceremony for signing of minutes

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn and Vietnam’s Minister of Industry and Trade Nguyen Hong Dien held a ceremony on April 14 in Hanoi for the signing of minutes of the 14th Korea-Vietnam Joint Industrial Committee and 8th Korea-Vietnam FTA Joint Committee meetings. date2025-04-14

14th Korea-Vietnam Joint Industrial Committee & 8th FTA Joint Committee

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn met Vietnam’s Minister of Industry and Trade Nguyen Hong Dien today in Hanoi for the 14th Korea-Vietnam Joint Industrial Committee and 8th Korea-Vietnam FTA Joint Committee meetings and discussed measures for reaching USD 150 billion in bilateral trade volume by 2030, cooperation in Vietnamese nuclear reactor projects, LNG power generation, clean energy development, and enhancing companies’ utilization of the bilateral FTA. date2025-04-14

Minister Ahn meets Moroccan Minister of Industry and Trade

Minister of Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met Moroccan Minister of Industry and Trade Ryad Mezzour today in Seoul to discuss bilateral industry cooperation and trade issues. date2025-04-08

Korea to accelerate industrial cooperation with Morocco

Minister of Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met Moroccan Minister of Industry and Trade Ryad Mezzour today in Seoul to discuss bilateral industry cooperation and trade issues. A strategic hub connecting Europe and Africa, Morocco is renowned for its growth potential in terms of population, critical minerals, and supply chain competitiveness, and is considered a major emerging Global South country with an FTA network spanning 55 economies.  Also, more and more Korean companies are entering the Moroccan market as of late. Among those is Hyundai Rotem, which won a KRW 2.2 trillion (USD 1.5 billion) train order from the Moroccan National Railways Office (ONCF) this February. In addition, automobile parts manufacturers are diversifying business models by broadening production bases to Morocco and other overseas regions in exporting their goods to third countries in Europe. Today’s bilateral talks are significant in view of the pressing need for Korean companies to expand their export markets amid the rapidly shifting international trade order. Mentioning that Morocco is the only African nation to hold FTAs with both the U.S. and the EU, Minister Mezzour articulated Morocco’s advantageous position as a gateway to Europe, Middle East, and Africa and expressed anticipation towards investment cooperation with Korean companies for industrial development and infrastructure expansion in preparation of Morocco’s co-hosting of FIFA World Cup 2030. Against the backdrop of rising global protectionism and supply chain disruptions, Minister Ahn highlighted the potential for synergy through joint preemptive response and mutual growth between the two countries by combining Korea’s advanced technologies and Morocco’s capacity as a regional production base. At today’s meeting, Minister Ahn proposed that Korea and Morocco launch official negotiations for the swift conclusion of the bilateral Economic Partnership Agreement (EPA) by carrying forward the momentum created on the occasion of the Korea-Africa Summit convened last June, as the EPA can serve as a legal and institutional framework for the two countries’ wider trade and investment cooperation. Minister Ahn further suggested that, prior to the EPA’s conclusion and entry into force, Korea and Morocco ink a bilateral Trade and Investment Promotion Framework (TIPF) as a cooperative platform for close consultations on trade issues so as to expedite their industrial collaborations.   date2025-04-08

Minister Ahn attends Korea-Philippines Business Forum

Minister of Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea and Philippine’s Special Assistant to the President for Investment and Economic Affairs Frederick Go attended the Korea-Philippines Business Forum today in Seoul with the participation of 150 business leaders and government officials of both countries. In his congratulatory address, the minister assessed how the two countries have established a basis for wider economic cooperation with their bilateral relations elevated to a strategic partnership on the occasion of the last Korea-Philippines summit. He added that going forward, the Korean government plans to leverage economic cooperation platforms in making intergovernmental efforts to promote smooth business collaboration between the two countries. date2025-04-07

Minister meets Philippine's Special Assistant to the President for Investment and Economic Affairs

Minister of Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held high-level talks with the Philippine government delegation led by Special Assistant to the President for Investment and Economic Affairs Frederick Go today in Seoul and discussed measures for stronger economic cooperation in areas such as trade, investment, supply chains, and carbon-free energy. date2025-04-07