Ministry of Trade, Industry and Energy

Korea and Germany hold talks on IRA and economic cooperation

The Trade, Industry and Energy Ministry’s Director-General for International Trade Policy Yoon Chang-hyun led the Korean delegation for Korea-Germany talks on economic affairs on November 4 at Grand Hyatt Seoul and discussed concerns and countermeasures regarding the U.S.’ Inflation Reduction Act (IRA) and shared Korea’s investment environment and bilateral cooperation with his German counterpart Sabine Hepperle, Head of the Directorate-General at the Federal Ministry for Econo date2022-11-07

Korea and India hold 9th round of CEPA upgrading negotiations

The Ministry of Trade, Industry and Energy (MOTIE) announced that the 9th round of Korea-India negotiations for an upgraded Comprehensive Economic Partnership Agreement (CEPA) are held on November 3-4 in Seoul.   The Korean delegation is headed by Director General for FTA Policy Yang Gi-uk, while India’s is headed by Joint Secretary at Department of Commerce Anant Swarup. Director General Yang remarked that “cooperation with India is all the more critical as the global economy date2022-11-04

Korea and India hold 9th round of CEPA upgrading negotiations

The Ministry of Trade, Industry and Energy (MOTIE) announced that the 9th round of Korea-India negotiations for an upgraded Comprehensive Economic Partnership Agreement (CEPA) are to be held on November 3-4 in Seoul. The Korean delegation is headed by Director General for FTA Policy Yang Gi-uk, while India’s is headed by Joint Secretary at Department of Commerce Anant Swarup. Relevant ministries including the Ministry of Economy and Finance (MOEF) and the Ministry of Agriculture, Food and date2022-11-03

Korea and GCC hold 6th round of talks for FTA

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 21 that the 6th round of Korea-GCC FTA negotiations will take place through October 24-28 in Seoul.   The sixth round will touch on 1) opening of products and services market 2) trade environment improvement 3) digital transition, healthcare & infrastructure, and the incorporation of these items into the agreement.   Led by MOTIE’s chief negotiator Kwon Hye-jin, Korea’s delegation is composed of date2022-10-24

Korea and GCC hold 6th round of talks for FTA

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 21 that the 6th round of Korea-GCC FTA negotiations will take place through October 24-28 in Seoul. Led by MOTIE’s chief negotiator Kwon Hye-jin, Korea’s delegation is composed of officials from the Ministry of Economy and Finance (MOEF), the Ministry of Agriculture, Food and Rural Affairs (MAFRA), the Financial Services Commission (FSC) among other relevant government bodies. The GCC (Gulf Cooperation Council) date2022-10-24

Korea and Oman discuss trade and energy infrastructure cooperation

Trade Minister Ahn Duk-geun met with Khalifa bin ali Al Harthy, Undersecretary for Diplomatic Affairs at Oman's Ministry of Foreign Affairs, on October 20 at the Lotte Hotel Seoul and discussed investment, energy infrastructure, renewable energy, green hydrogen cooperation and requested Oman’s support for World EXPO Busan 2030. date2022-10-21

Korea and Oman discuss trade and energy infrastructure cooperation

Trade Minister Ahn Duk-geun met with Khalifa bin ali Al Harthy, Undersecretary for Diplomatic Affairs at Oman's Ministry of Foreign Affairs, on October 20 and discussed investment, energy infrastructure, renewable energy, green hydrogen cooperation and requested Oman’s support for World Expo Busan 2030. Despite the pandemic impact, Korea-Oman trade is recently growing, recording USD 4.5 billion this year as of September, a historic high in five years. With respect to LNG, Oman is Ko date2022-10-21

Trade Minister holds 2nd Exports Assessment Meeting

Trade Minister Ahn Duk-geun presided the second meeting for exports assessment with relevant institutions’ and industries’ representatives on October 6 at the Korea International Trade Association (KITA) to announce the launching of Exports Situation Room (ESR) and assess Korea’s trade.   The trade chief gave an opening message and discussed recent trade issues and forecasts per sector to seek measures for vitalizing exports and improving the trade balance.   The date2022-10-06

National Assembly ratifies ROK-Israel and ROK-Cambodia FTAs

Trade Minister Ahn Duk-geun announced on September 27 that the National Assembly has ratified Korea’s FTAs with Israel and Cambodia, respectively. The ROK-Israel FTA was finalized in August 2019 after six official negotiation rounds, and submitted to the National Assembly this January. The ROK-Cambodia FTA was finalized in February 2021 after four official negotiation rounds and submitted to the National Assembly this February. All necessary processes on Korea’s part are now compl date2022-09-29

7th round of ROK-Ecuador SECA negotiations

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 20 that the seventh round of negotiations for ROK-Ecuador SECA (Strategic Economic Cooperation Agreement) will be held through September 20-October 5 via videoconferencing. The bilateral SECA negotiations were restarted in Seoul after a six-year hiatus, and the talks saw substantial progress in narrowing the opinion gap despite a rather long break. The seventh round of negotiations will be held entirely via videoconferen date2022-09-20