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FTA/Economic Cooperation
Korea and UK take economic cooperation to new heights, marking 140 years of diplomatic relations
Trade, Industry and Energy Minister Bang Moon Kyu will be attending the Korea-UK Business Forum on November 22, co-hosted by the Federation of Korean Industries and the UK’s Department for Business and Trade on the occasion of Korean President Yoon Suk Yeol’s state visit to the UK. Approximately 200 persons will be attending the forum, consisting of Korea’s economic delegation members and both countries’ business leaders, to discuss cooperation in advanced industries, e date2023-11-22
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FTA/Economic Cooperation
Korea and UK to launch negotiations for upgrading bilateral FTA
Trade, Industry and Energy Minister Bang Moon Kyu and the UK’s Secretary of State for Business and Trade Kemi Badenoch will be signing on November 22 the joint declaration on the launch of negotiations for upgrading the Korea-UK free trade agreement (FTA) on the occasion of the Korean President Yoon Suk Yeol’s state visit to the UK. The existing Korea-UK FTA was the first FTA the UK entered with an Asia country during Brexit and contributed to swiftly resolving uncertainties that ex date2023-11-22
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FTA/Economic Cooperation
Trade Minister meets Singapore's Trade & Industry Minister
Minister for Trade Dukgeun Ahn met Singapore’s Trade and Industry Minister Gan Kim Yong on November 21 in Singapore to discuss industrial cooperation and collaboration in new industries, such as electric vehicles (EVs), as well as joint response regarding the Indo-Pacific Economic Framework for Prosperity (IPEF) and the Carbon Free (CF) Alliance initiative. date2023-11-21
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FTA/Economic Cooperation
Trade Minister signs IPEF Supply Chain Agreement
Minister for Trade Dukgeun Ahn attended the Indo-Pacific Economic Framework for Prosperity (IPEF) Supply Chain Agreement signing ceremony on November 14 in San Francisco and signed the Supply Chain Agreement (Pillar II), which was concluded in May this year. date2023-11-20
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FTA/Economic Cooperation
Minister Bang meets with U.S. Secretary of Commerce
Trade, Industry and Energy Minister Bang Moon Kyu met with U.S. Secretary of Commerce Gina Raimondo on November 15 in San Francisco and discussed major trade issues and measures for expanding bilateral cooperation in advanced industries. date2023-11-20
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FTA/Economic Cooperation
Minister Bang meets with Japan’s Economy, Trade and Industry Minister
Trade, Industry and Energy Minister Bang Moon Kyu met with Japan’s Economy, Trade and Industry Minister Nishimura Yasutoshi on November 15 in San Francisco to discuss IPEF, semiconductors, decarbonization and other bilateral economic cooperation measures. date2023-11-20
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FTA/Economic Cooperation
Minister Bang meets with China’s Commerce Minister
Trade, Industry and Energy Minister Bang Moon Kyu met China’s Commerce Minister Wang Wentao on November 14 in San Francisco to discuss measures for supply chain stabilization and stronger economic cooperation. date2023-11-20
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FTA/Economic Cooperation
Trade Minister attends IPEF ministerial meeting
Minister for Trade Dukgeun Ahn attended the Indo-Pacific Economic Framework for Prosperity (IPEF) Pillar 1 session on November 13 in San Francisco to review outcomes and expressed commitment to continue efforts for further progress. date2023-11-20
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FTA/Economic Cooperation
IPEF Pillars reach substantial conclusion and outcomes within 18 months of launch
The Republic of Korea participated in the Indo-Pacific Economic Framework for Prosperity (IPEF) ministerial meetings held through November 13-14 in San Francisco along with other 13 member countries to announce the outcomes gained from the last 18 months of negotiations. Member countries signed the Pillar II (Supply Chain) Agreement, which was already concluded in May this year, and also concluded negotiations for the Clean Economy Pillar and the Fair Economy Pillar. They took stock of the nego date2023-11-17
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FTA/Economic Cooperation
IPEF leaders reach substantial conclusion on critical minerals and other cooperation agendas
The Ministry of Trade, Industry and Energy (MOTIE) announced on November 17 that President Yoon Suk Yeol attended the Indo-Pacific Economic Framework for Prosperity (IPEF) summit on November 16, hosted by U.S. President Joe Biden, and attended by the leaders of 14 countries, including Japanese Prime Minister Kishida Fumio. IPEF is a cooperative system established for joint response of major countries in the Indo-Pacific region against newly emerging global trade issues like supply chain and cli date2023-11-17