Ministry of Trade, Industry and Energy

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

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

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

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

Trade Minister attends trade & foreign ministerial APEC meeting in San Francisco

Minister for Trade Dukgeun Ahn attended Session II of the Asia-Pacific Economic Cooperation (APEC) trade and foreign ministerial meetings held on November 15 in San Francisco, chaired by U.S. Trade Representative Katherine Tai, and proposed two reform measures for establishing a more connected and resilient trade and investment system for the Asia-Pacific region. First, Trade Minister Ahn stated that the World Trade Organization (WTO) MC13, to be held in the United Arab Emirates (UAE) in 2024, date2023-11-17

Minister Bang and U.S. Secretary of Commerce discuss cooperation in advanced industries and trade issues

Trade, Industry and Energy Minister Bang Moon Kyu, on the occasion of attending the Asia-Pacific Economic Cooperation (APEC) summit meetings held through November 15-17 in San Francisco, met with U.S. Secretary of Commerce Gina Raimondo on November 15 and discussed measures for expanding bilateral cooperation in semiconductors and advanced industries, and requested continued cooperation in major trade issues. Minister Bang assessed that the two countries have been expanding collaboration in var date2023-11-16

Trade Minister holds bilateral talks on sidelines of IPEF & APEC meetings

Minister for Trade Dukgeun Ahn held bilateral talks with the trade leaders of five countries on the sidelines of the Indo-Pacific Economic Framework for Prosperity (IPEF) ministerial meetings and Asia-Pacific Economic Cooperation (APEC) summit, held through November 12-16 in San Francisco, to discuss trade issues. He also asked other countries’ support for World Expo 2030 Busan and their participation in the Carbon Free (CF) Alliance. Trade Minister Ahn first met with Katherine Tai, the U date2023-11-16

Korea-Middle East cooperation to enter new era of partnership

Trade, Industry and Energy Minister Bang Moon Kyu chaired the second Korea-Middle East Economic Cooperation Public-Private Joint Committee meeting, where they reviewed achievements and implementation methods, project progress by each department, and issues and suggestions from individual companies. MOTIE reported that since the start of the Yoon Suk Yeol administration, 143 contracts and memorandums of understanding (MOUs) were signed between the two sides worth approximately USD 87.4 billion, date2023-11-10

Korea to bolster economic cooperation with Tanzania

Minister for Trade Dukgeun Ahn visited Dodoma, the capital of Tanzania, on November 8 as a Special Presidential Envoy to strengthen economic cooperation with the East African nation amid the rising strategic importance of the African continent as a new export market and major reservoir of mineral resources. The trade minister’s visit was accompanied by a public-private joint economic delegation composed of representatives of relevant organizations and companies, including the Export-Impor date2023-11-09

Minister meets with Trinidad and Tobago's Works and Transport Minister

Trade, Industry and Energy Minister Bang Moon Kyu met with Rohan Sinanan, the Minister of Works and Transport of Trinidad and Tobago, on November 2 and discussed measures for stronger cooperation in construction and infrastructure industries. date2023-11-09