Ministry of Trade, Industry and Energy

Korea and China to launch joint research project for improving bilateral FTA implementation

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 24 that research institutes of Korea and China are to launch a joint research project for improving the implementation of the Korea-China Free Trade Agreement (FTA). During the fifth Korea-China FTA Joint Committee meeting held on December 4 in 2023 in Beijing, the two countries’ chief delegates agreed to launch a joint research program for improving the implementation of the bilateral FTA in 2025, the year marking th date2024-01-24

Korea and UK hold first official negotiating round for upgrading bilateral FTA

Trade Minister Inkyo Cheong attended the first official negotiating round for the upgrade of the Korea-UK Free Trade Agreement (FTA) on January 23 at Lotte Hotel Seoul. The trade minister stated that “the global trade order is changing more rapidly than ever, with the worldwide rise of protectionism and swift realignment of the global supply chain,” and asked both delegations to “jointly respond to internal and external uncertainties, while making sure to place the utmost prio date2024-01-23

Korea and UK hold first official negotiating round for upgrading bilateral FTA

Director General for FTA Policy Ahn Chang-yong at the Ministry of Trade, Industry and Energy (MOTIE) is heading the Korean delegation in the first round of official negotiations on upgrading the Korea-UK Free Trade Agreement (FTA) to be held through January 23-25 in Seoul. The UK delegation is led by Adam Fenn, Chief Negotiator at the UK's Department for Business and Trade. The existing Korea-UK FTA is the first FTA sealed with Asia by the UK in proceeding with Brexit and is assessed to have dr date2024-01-23

Korea and Indonesia hold high-level dialogue on economic cooperation

Trade, Industry and Energy Deputy Trade Minister Yang Byeong-nae met Septian Hario Seto, the Deputy Minister for Indonesia’s Coordinating Ministry for Maritime and Investment Affairs, on January 17 at Signiel Seoul to discuss measures to strengthen economic cooperation between Korea and Indonesia. date2024-01-19

Deputy Minister attends ceremony for signing of Protocol for Guatemala's accession to Korea-Central America FTA

Deputy Minister for FTA Negotiations Roh Keon-ki of the Ministry of Trade, Industry and Energy (MOTIE) headed the Korean delegation in the formal signing of the Protocol for the Accession of Guatemala to the Free Trade Agreement (FTA) between Korea and five Central American countries on January 8 (local time) in Guatemala with six Central American countries’ delegates, including Guatemala’s Foreign Affairs Minister Mario Búcaro Flores, in the attendance of the Guatemalan Presi date2024-01-09

Guatemala joins Korea-Central America FTA

Deputy Minister for FTA Negotiations Roh Keon-ki of the Ministry of Trade, Industry and Energy (MOTIE) headed the Korean delegation in the formal signing of the Protocol for the Accession of Guatemala to the Free Trade Agreement (FTA) between Korea and five Central American countries on January 8 (local time) in Guatemala with six Central American countries’ delegates, including Guatemala’s Foreign Affairs Minister Mario Búcaro Flores, in the attendance of the Guatemalan Presi date2024-01-09

Korea advances and diversifies trade network

Amid the global rise of protectionism, supply chain disruptions and other rapid shifts in the global trade environment, the Ministry of Trade, Industry and Energy (MOTIE) has been active in advancing and diversifying the trade network for expanding the export market and stabilizing the supply chain. To note, MOTIE strengthened Korea’s economic security by concluding three agreements in the Supply Chain, Clean Economy and Fair Economy Pillars in just one year and a half following the launc date2023-12-28

Korea and GCC conclude FTA deal

Minister for Trade Dukgeun Ahn and Gulf Cooperation Council (GCC) Secretary General Jassim Mohammed Al-Budaiwi concluded and signed the joint statement for the Korea-GCC Free Trade Agreement (FTA) on December 28 in Seoul. The Korea-GCC FTA is Korea’s 25th FTA (by concluded order), and the second FTA with an Arab country following the Korea-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA) concluded in October. Trade Minister Ahn assessed that “alongsid date2023-12-28

Korea and Africa hold 2nd Trade & Industry Cooperation Forum

Deputy Trade Minister Yang Byeong-nae at the Ministry of Trade, Industry and Energy attended the second Korea-Africa Trade and Industry Cooperation Forum on December 20 at the Westin Josun Hotel Seoul, attended by approximately 110 persons, consisting of the ambassadors and delegations of 17 African countries, as well as business leaders interested in entering the African market, and experts in relevant fields, including Morrocco's Ambassador to Korea Chafik Rachadi and Korea Plant Industri date2023-12-21

Korea's business leaders discuss economic cooperation with African Ambassadors

The Ministry of Trade, Industry and Energy (MOTIE) held the second Korea-Africa Trade and Industry Cooperation Forum on December 20 at the Westin Josun Hotel Seoul, attended by approximately 110 persons, consisting of the ambassadors and delegations of 17 African countries, as well as business leaders interested in entering the African market, and experts in relevant fields, including Morrocco's Ambassador to Korea Chafik Rachadi and Korea Plant Industries Association Vice Chairman Baek Jung-wan date2023-12-21