Ministry of Trade, Industry and Energy

Korea and Ecuador announce joint statement on signing of SECA deal

Trade, Industry and Energy Minister Bang Moon Kyu and Ecuador’s Production, Foreign Trade, Investments and Fisheries Minister Daniel Legarda signed the joint statement announcing the conclusion of the negotiations for the Korea-Ecuador Strategic Economic Cooperation Agreement (SECA) on October 11 at the Lotte Hotel Seoul. date2023-10-11

Korea meets with Caribbean countries for industrial & climate change cooperation

Trade, Industry and Energy Minister Bang Moon Kyu, on the occasion of the annual high-level forum on the Korea-Caribbean partnership on October 11 in Seoul, held talks with Belize’s Sustainable Development Minister Orlando Habet and Grenada’s Mobilization, Implementation and Transformation Minister Andy Williams, respectively, and discussed bilateral cooperation as well as measures to bolster the Korea-Caribbean partnership. With Belizean Minister Habet, Minister Bang emphasized the date2023-10-11

Korea and Ecuador announce joint statement on signing of SECA deal

Trade, Industry and Energy Minister Bang Moon Kyu and Ecuador’s Production, Foreign Trade, Investments and Fisheries Minister Daniel Legarda signed the joint statement announcing the conclusion of the negotiations for the Korea-Ecuador Strategic Economic Cooperation Agreement (SECA) on October 11 at the Lotte Hotel Seoul. The Korea-Ecuador SECA joint statement is as follows:   JOINT STATEMENT ON THE CONCLUSION OF NEGOTIATIONS FOR THE STRATEGIC ECONOMIC COOPERATION AGREEMENT BET date2023-10-11

Korea and Ukraine discuss cooperation measures for reconstruction

Minister for Trade Dukgeun Ahn met with the Korea-Ukraine Parliamentarians' Friendship Association delegation on October 6 in Seoul to discuss bilateral economic cooperation measures. The meeting was attended by Ukrainian lawmakers Andriy Nikolaenko, Sergiy Taruta and Ukrainian Ambassador to South Korea Dmytro Ponomarenko. Trade Minister Ahn expressed condolences towards the Ukrainian people suffering from the Russia-Ukraine war, and stated that Korea is prepared to uncover and launch joint pro date2023-10-10

Korea and UAE hold official negotiation round for CEPA

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 2 that Korea and the United Arab Emirates (UAE) are holding the official round of negotiations for the Comprehensive Economic Partnership Agreement (CEPA) through October 2-5 in Seoul. The Korean delegation is headed by MOTIE’s Director General for FTA Negotiations Chang Sung-gil and composed of approximately 30 relevant ministries’ officials, including those from the Ministry of Economy and Finance (MOEF), Mini date2023-10-05

Korea participates in the 5th round of IPEF negotiations

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 11 that MOTIE’s Deputy Minister for FTA Negotiations Roh Keon-ki is heading the Korean delegation in the fifth round of the Indo-Pacific Economic Framework for Prosperity (IPEF) negotiations held from September 10-16 in Bangkok, Thailand. Fourteen countries are participating in this round: Korea, the U.S., Japan, Australia, New Zealand, Singapore, Thailand, Vietnam, Brunei, Malaysia, the Philippines, Indonesia, Indi date2023-09-12

Korea and Nebraska discuss measures to bolster trade & economic cooperation

Deputy Minister for Trade Jeong Dae-jin met with Jim Pillen, Governor of Nebraska, U.S., on September 8 in Seoul to discuss measures for bolstering economic and trade cooperation between Korea and the state of Nebraska for clean energy transition, as well as other major trade issues like the Inflation Reduction Act (IRA). date2023-09-11

Korea and Indonesia sign 16 agreements in areas including nuclear energy & mobility

Minister for Trade Dukgeun Ahn and Indonesia’s Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan attended a signing ceremony on September 7 for the signing of a total of 16 agreements, including a memorandum of understanding (MOU), between Korean and Indonesian companies during the Business Roundtable held on the occasion of Korean President Yoon Suk Yeol attending the ASEAN Summit 2023 in Jakarta. Approximately 40 representatives of the two countries' economic group date2023-09-08

Korea and the Philippines sign Free Trade Agreement

Minister for Trade Dukgeun Ahn and the Philippines’ Department of Trade and Industry (DTI) Secretary Alfredo E. Pascual signed the Korea-Philippines Free Trade Agreement (FTA) on September 7 on the sidelines of the ASEAN Summit 2023 held in Jakarta, Indonesia. Korea and the Philippines announced a joint declaration on the conclusion of the basic FTA framework in October 2021, succeeded by a number of negotiations regarding the specific schedule for removal and reduction of tariffs, i date2023-09-08

Korea and Nebraska discuss measures to bolster trade & economic cooperation

Deputy Minister for Trade Jeong Dae-jin met with Jim Pillen, Governor of Nebraska, U.S., on September 8 in Seoul to discuss measures for bolstering economic and trade cooperation between Korea and the state of Nebraska. Deputy Trade Minister Jeong stated that this year marks the 70th anniversary of the Korea-U.S. alliance and that following Korean President Yoon Suk Yeol’s state visit to the U.S. and the August summit meeting among Korea, U.S. and Japan, the two countries’ alliance date2023-09-08