Ministry of Trade, Industry and Energy

Korea seeks measures for development and economic cooperation through EPAs

The Ministry of Trade, Industry and Energy (MOTIE) held the “4th New FTA Strategy Forum” on December 1 together with the Korean Association of Trade and Industry Studies (KATIS) to develop negotiation strategies for Economic Partnership Agreements (EPA) currently being pushed by the Korean government with other countries. An EPA is a trade agreement focusing on strengthening global trade solidarities, enhancing supply chain resiliency for resources like critical minerals and promoti date2023-12-04

Korea and Chile hold 8th official negotiating round for upgrading bilateral FTA

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 29 that Korea will begin the eighth official negotiating round for upgrading the Free Trade Agreement (FTA) with Chile, its very first FTA partner, through November 29 to December 1 in Seoul. Negotiations for the Korea-Chile FTA were first launched in December 1999 and the agreement entered into force on April 1 in 2004, contributing to both countries’ economic growth and increasing the bilateral trade volume five-fo date2023-11-29

MOTIE and UK’s Department for Business and Trade enter MOU for starting FTA upgrade negotiations

Minister Bang Moon Kyu attended the MOU signing ceremony between MOTIE and UK’s Department for Business and Trade on November 22 in London with Department’s Secretary of State Kemi Badenoch to sign the MOU on the joint declaration for the launch of Korea-UK FTA upgrade negotiations. date2023-11-25

Korea and UK sign MOU at Business Forum

Trade, Industry and Energy Minister Bang Moon Kyu attended the MOU signing ceremony held on the occasion of the Korea-UK Business Forum on November 22 in London for cooperation in energy, AI, construction, plant and defense in the attendance of 50 persons, including UK’s Secretary of State for Business and Trade Kemi Badenoch among other government officials and private sector representatives. date2023-11-24

Korea and Brazil deepen trade, industrial and investment cooperation

Minister for Trade Dukgeun Ahn signed the Korea-Brazil Trade and Investment Promotion Framework (TIPF) agreement with Brazil’s Vice Minister of Development, Industry, Trade and Services Márcio Elias Rosa on November 24 at Four Seasons Hotel Seoul, where they held the first TIPF committee meeting. The Korea-Brazil TIPF is the 12th TIPF agreement for Korea, and the first with a South American country. A resource-rich country and home to extensive reservoirs of nickel, lithium, rare e date2023-11-24

Korea and Vietnam bolster cooperation on trade remedies

The Korea Trade Commission of the Ministry of Trade, Industry, and Energy (MOTIE) held a joint session for the Korea-Vietnam Trade Remedy Cooperation Meeting and the FTA Trade Remedies Implementation Committee Meeting with the Vietnamese Trade Remedies Authority on November 22 in Quang Ninh, Vietnam. The two countries' trade authorities examined ongoing matters concerning reciprocal import controls and discussed recent investigation and response cases involving third countries. They also d date2023-11-23

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

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

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

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