Ministry of Trade, Industry and Energy

Korea and Singapore announce conclusion of Korea’s first digital trade agreement, Korea-Singapore Digital Partnership Agreement (DPA)

Trade Minister Yeo Han-Koo and Singapore’s Second Minister for Trade and Industry Tan See Leng issued a Joint Statement on December 15 announcing the conclusion of the “Korea-Singapore Digital Partnership Agreement”, Korea’s first digital trade agreement.       Read more: date2021-12-15

Minister Moon meets with trade, industry experts to discuss future trade policy directions

Trade, Industry and Energy Minister Moon Sungwook held a forum with trade and industry experts on December 8 to exchange opinions on future trade policy directions as the Regional Comprehensive Economic Partnership (RCEP) will take effect next year.   Minister Moon said that the government will provide tailored support and consulting for each region and industry so that Korean firms can take advantage of the RCEP in doing business.   He added that Korea will actively engage in the date2021-12-08

Korea, Uzbekistan vow to expand energy, digital, green cooperation

Trade, Industry and Energy Minister Moon Sungwook (left) met with Uzbek Deputy Prime Minister and Minister of Investments and Foreign Trade Sardor Umurzakov in Seoul, on November 25, at the 11th Joint Committee on Trade and Economic Cooperation between Korea and Uzbekistan.   The two countries agreed to join efforts to expand energy, resource, digital and green cooperation. date2021-11-25

MOTIE minister meets with Kazakh Deputy Prime Minister

Trade, Industry and Energy Minister Moon Sungwook (right) met with Kazakhstan’s Deputy Prime Minister Roman Skylar in Seoul, on October 21, to discuss follow-up measures to a summit agreement in August to expand economic and industrial cooperation between the two countries.   Minister Moon expressed his gratitude that the Kazakhstani government has established a special working group dedicated to cooperative projects with Korea, and said that the Korean government will continue to p date2021-10-21

Korea initiates process to join Digital Economic Partnership Agreement (DEPA)

The Office of the Minister for Trade at the Ministry of Trade, Industry and Energy officially notified New Zealand, the Depositary of the Digital Economic Partnership Agreement (DEPA), of Korea’s intent to join the Agreement on September 13. The government has completed the domestic procedures to initiate negotiations on Korea’s accession to the DEPA, including a feasibility study (May 2020), public hearing (May 2021) and report to the National Assembly (August 2021), and has secure date2021-09-13

Korea, Colombia to expand cooperation in trade, investment

Trade, Industry and Energy Minister Moon Sungwook (left) attended a forum to discuss trade and investment cooperation between Korea and Colombia in Seoul, on August 25, held on the occasion of Colombian President Ivan Duque’s state visit to Korea.   Minister Moon suggested further economic cooperation between the two countries in various areas including trade, artificial intelligence (AI), clean energy, future cars, and health. date2021-08-25

Korea, Kazakhstan sign 23 MOUs

The Ministry of Trade, Industry and Energy organized a business roundtable with Kazakhstan on the occasion of Kazakh President Kassym-Jomart Tokayev’s state visit to Korea, on August 17, and the two countries signed 23 memorandums of understanding (MOUs) for cooperation in various industries including automobile and natural resources.   Minister Moon pointed out that through the Fresh Wind economic program launched in 2019, the two countries have generated substantial progress in ec date2021-08-17

Korea, Saudi Arabia to speed up cooperation in clean energy, bio-health, digital sectors

Trade, Industry and Energy Minister Moon Sungwook met his Saudi counterpart, Khalid Al-Falih, on June 30, at a virtual meeting of Korea-Saudi Vision 2030 Committee, established in 2017 to expand bilateral ties between the two countries. Minister Moon suggested broader cooperation in hydrogen energy, bio-health, and digital transformation, which are promising sectors in the post-pandemic era.   date2021-07-02

Trade Minister Yoo meets with APEC ministers

Trade Minister Yoo Myung-hee attended a virtual meeting of Asia Pacific Economic Cooperation (APEC) ministers, on June 5, and the ministers agreed to join efforts to overcome COVID-19 and support the rules-based multilateral trading system.   Trade Minister Yoo said that Korea will make active contributions to accelerate the distribution of COVID-19 vaccines using its biopharmaceutical production capability, and emphasized APEC’s role in the discussion of environmental goods and ser date2021-06-07

Korea, MERCOSUR hold virtual TA talks

Korea will hold the 6th round of Trade Agreement (TA) negotiations with a group of South American countries, known as MERCOSUR, virtually from June 1 to 4.   Korea and the four member states of MERCOSUR – Brazil, Argentina, Paraguay and Uruguay – held five rounds of talks since the launch of negotiations in May 2018.   After a hiatus of a year and four months amid the outbreak of COVID-19, the two parties will resume talks on the pending trade agreement. date2021-06-01