Ministry of Trade, Industry and Energy

Korea and Ecuador restart SECA negotiations

Trade Minister Yeo Han-koo held online talks with Ecuador's Production, Foreign Trade, Investment and Fisheries Minister Julio José Prado on Mar 2 in Mexico City to hold a virtual signing ceremony for restarting the temporarily halted Korea-Ecuador Strategic Economic Complementation Agreement (SECA) negotiations.  They also agreed to broaden their cooperation on global trade issues like supply chain, digital, carbon reduction, as well as the Comprehensive and Progressive Agreem date2022-03-04

Korea and Mexico agree to resume FTA talks

Trade Minister Yeo Han-koo held talks with Mexican Secretary of Economy Tatiana Clouthier on Mar 1 in Mexico City and agreed to resume talks on Korea-Mexico FTA, a first in their 14 years of stalled negotiations. date2022-03-04

Trade Minister holds gathering with ambassadors to Korea

Trade Minister Yeo Han-koo presided a gathering with ambassadors to Korea on February 24 at the Lotte Hotel Seoul for fostering talks on strengthening raw materials supply chain partnerships in light of the recent Russia-Ukraine crisis. Minister Yeo gave an opening message in which he introduced supply-demand stabilization measures regarding economic security items in preparation against possible raw materials supply setbacks amidst the Ukraine situation. He also participated in an exchange o date2022-02-28

Korea and Indonesia sign MOUs for expanding supply chain cooperation

Trade, Industry, and Energy Minister Moon Sung-wook visited Jakarta, Indonesia through 20-22 of February to hold the Korea-Indonesia Business Forum and raw materials supply chain cooperation with his Indonesian counterparts. One of the goals of this visit was to review the progress made so far since President Moon Jae-in’s state visit in 2017, during which Indonesia expressed commitment to the New Southern Policy. Moreover, the meeting was substantial as it strengthened the cooperation ba date2022-02-24

Trade Minister holds Korea-New Zealand talks

Trade Minister Yeo Han-koo held an online meeting with New Zealand Trade and Export Growth Minister Damien O’Connor on February 15.   The two trade chiefs exchanged views on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Indo-Pacific economic framework, and other major trade issues. The CPTPP involves 11 nations, including New Zealand, Japan, Australia, Canada and Mexico, which accounted for 15 percent of global trade volume as of 2019. &nbsp date2022-02-16

Trade Minister visits Switzerland to promote multilateral trade order

Trade Minister Yeo Han-koo visited Geneva, Switzerland through February 9-10 and met with various counterparts to discuss measures for strengthening the multilateral trade order. Minister Yeo met with International Trade Center Executive Director Pamela Coke-Hamilton and discussed prospects for cooperation in training up trade personnel. The meeting was followed by an online trade specialist session together with a local international trade law professor at the Permanent Mission of the Republ date2022-02-15

Trade Minister holds inaugural Korea-UK FTA Committee Meeting

Trade Minister Yeo Han-koo held the inaugural Korea-UK FTA trade committee meeting with UK’s International Trade Secretary Anne-Marie Trevelyan in London on February 7, a first post-Brexit trade talks between the two countries. This meeting enabled the assessment of the Korea-UK FTA execution status as part of the follow-up measure of the Korea-UK summit talks held in New York in September of last year. Mutual efforts toward their applications to join the Comprehensive and Progressive Agr date2022-02-14

Trade Minister visits Switzerland to promote multilateral trade order

Trade Minister Yeo Han-koo held talks with World Trade Organization Director General Ngozi Okonjo-Iweala on February 10 in Geneva, Switzerland for talks on COVID-19 response, major trade issues, and expanding the Korean presence at the WTO Secretariat. During the two-day stay in Switzerland, the Minister held multiple talks with the chiefs of a number of different international organizations. He met the U.N. Conference on Trade and Development (UNCTAD) Secretary-General Rebeca Grynspan and agre date2022-02-11

Trade Minister holds inaugural Korea-UK FTA Committee Meeting

Trade Minister Yeo Han-koo held the inaugural Korea-UK FTA Committee meeting with UK’s International Trade Secretary Anne-Marie Trevelyan on February 7 in London to discuss the expansion of bilateral trade and collaboration across various areas.   The two trade chiefs touched upon issues ranging from supply chain issues, digital, and climate change response. Also on the table were the Korea-UK new strategic agreement for building supply chain resilience, which is a first for UK wi date2022-02-11

RCEP takes effect for Korea as of February 1

Trade, Industry, and Energy Minister Moon Sung-wook announced that the Regional Comprehensive Economic Partnership Agreement (RCEP) takes effect as of February 1 in Korea. This is in accordance with Agreement provisions on going into force 60 days after parliamentary approval submission to the Secretariat. The culmination of 8-year negotiations involving a total of 15 countries, this trade deal is easily the world’s largest FTA, covering approximately 30 percent of the world in terms of date2022-02-03