Ministry of Trade, Industry and Energy

Korea and Indonesia hold talks regarding CEPA, IPEF, and other trade issues

Trade, Industry, and Energy Minister Moon Sung-wook held a videoconference with Indonesia’s Trade Minister Muhammad Lutfi on April 11 to discuss the Korea-Indonesia Comprehensive Economic Partnership Agreement (CEPA), Indo-Pacific Economic Framework (IPEF), and other trade issues. This meeting was a follow-up to further the Korea-Indonesia Economic Cooperation Committee talks held in Jakarta on February 22. The two trade chiefs concurred that it would be vital for both countries to conti date2022-04-12

Minister Moon holds Korea-Indonesia trade talks

Trade, Industry, and Energy Minister Moon Sung-wook held a videoconference with Indonesia’s Trade Minister Muhammad Lutfi on April 11 at the Government Complex Sejong to discuss the Korea-Indonesia Comprehensive Economic Partnership Agreement (CEPA), Indo-Pacific Economic Framework (IPEF), and supply chain cooperation. date2022-04-12

Korea and EU hold 10th Goods Trade Committee

The Ministry of Trade, Industry, and Energy (MOTIE) held the 10th Goods Trade Committee (GTC) with the EU delegation via teleconference for promoting Korea-EU trade of goods under the FTA framework. MOTIE's Director General for International Trade Affairs Kim Wan-ki headed the Korean delegation, which comprised officials from various ministries, including the Science and Technology Ministry, Environment Ministry, and the Food and Drug Safety Ministry. In the meeting, Korea and EU assessed the date2022-04-08

Korea-Brunei hold talks on CPTPP and other trade issues

Trade Minister Yeo Han-koo held a teleconference with Brunei’s Finance Deputy Minister Dato Mohd Amin Liew Abdullah on April 7 at the Korea Chamber of Commerce and Industry (KCCI) to discuss the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and other trade issues.   Minister Yeo mentioned the recent public hearing held on March 25, among other procedures, to share an update of the efforts Korea is putting forth for CPTPP accession. The two Ministers date2022-04-08

Trade Minister holds 5th Korea-Australia FTA Joint Committee Meeting

Trade Minister Yeo Han-koo held the 5th Korea-Australia FTA Joint Committee Meeting with Australia’s Minister for Trade, Tourism and Investment Dan Tehan on April 5 via teleconference. The meeting was held at ministerial level in consideration of the two countries’ stronger bilateral ties ensuing the elevation from the former expanding partnership to the current comprehensive and strategic partnership. Minister Tehan anticipated that the U.S. will be officially launching the Indo- date2022-04-07

Trade Minister holds 5th Korea-Australia FTA Joint Committee Meeting

Trade Minister Yeo Han-koo held the 5th Korea-Australia FTA Joint Committee Meeting via teleconference on April 5 with Australia’s Minister for Trade, Tourism and Investment Dan Tehan to discuss the Indo-Pacific Economic Framework, Korea-Australia FTA implementation progress, and major trade issues.    The two trade chiefs covered key trade agenda items, including the Indo-Pacific Economic Framework, Korea-Australia FTA implementation progress, digital cooperation and regulatio date2022-04-07

4th round of Korea-GCC FTA negotiations

The 4th round of Korea-GCC FTA negotiations are being held (March 28-31) in Seoul. Korea’s government delegation is led by Ministry of Trade, Industry, and Energy (MOTIE)’s Director General for FTA Negotiations Lee Kyung-sik, and consists of relevant ministries’ officials across the Ministry of Economy and Finance, Ministry of Agriculture, Food and Rural Affairs, Korean Intellectual Property Office, Ministry of Oceans and Fisheries, and Korea Forest Service. The Gulf Cooperati date2022-03-31

MOTIE holds public hearing on CPTPP application

Trade, Industry, and Energy Minister Moon Sung-wook held a public hearing on its application for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on March 25 at the Government Complex Sejong to gather opinions of interest parties, experts and the general public. The hearing was commenced by opening remarks of Trade Negotiations Deputy Minister Jeon Yoon-jong, followed by an overview of CPTPP and progress update, then an assessment of application impact on the ec date2022-03-30

MOTIE holds 5th Korea-Turkey FTA Joint Committee Meeting

The Ministry of Trade, Industry, and Energy held the 5th Korea-Turkey FTA Joint Committee Meeting on March 22 in Sejong City via videoconference to assess the FTA implementation progress on both sides in commemoration of their 9th year of enforcement. Representing Korea was Director General for FTA Policy Yang Gi-uk, whose Turkish counterpart was Hüsnü Dïlemre, Director-General of European Union Affairs at the Undersecretariat of Prime Ministry for Foreign Trade of Turkey. Turke date2022-03-28

10 years of Korea-U.S. FTA: Decade of Growth and Mutual Benefits

The Korea-U.S. FTA has reached 10 years since enforcement in 2012. Statistics show that the agreement has enlarged bilateral trade, as well as Korea’s exports to the U.S. over the decade. In 2012, Korea-U.S. trade amounted to USD 101.8 billion, which grew 66.1 percent to $169.1 billion in 2021. Korea’s shipments imports, and trade balance to U.S. grew 29.4 percent, 27.3 percent, and 36.7 percent, respectively. Major exports items to U.S. are automobiles (parts), semiconductors, co date2022-03-21