Ministry of Trade, Industry and Energy

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

Korea, Indonesia to strengthen industrial cooperation

Trade, Industry and Energy Minister Moon Sungwook (center) met his Indonesian counterpart, Luhut Binsar Pandjaitan at a ministerial meeting in Seoul, on May 26, and discussed measures to expand bilateral cooperation and investment in industry and energy.   The ministers shared the view that it is important to expand trade and investment as well as industrial and energy cooperation between the two countries as global supply chain risks, digital transformation, and carbon neutral movement a date2021-05-26

Minister of Trade, Industry and Energy Organizes Korea-US Business Roundtable During President Moon Jae-in’s US Visit

During President Moon Jae-in’s visit to the US (May 20-23), MOTIE Minister Moon Sung-wook (left) took steps to reinforce economic cooperation between the two countries, including the Korea-US Business Roundtable attended by President Moon and US Secretary of Commerce Gina Raimondo. date2021-05-22

Minister of Trade, Industry and Energy Organizes Korea-US Business Roundtable During President Moon Jae-in’s US Visit

During President Moon Jae-in’s visit to the United States (May 20-23), Minister of Trade, Industry and Energy Moon Sung-wook took steps to reinforce economic cooperation between the two countries, including the Korea-US Business Roundtable attended by President Moon Jae-in and United States Secretary of Commerce Gina Raimondo.➊ Minister Moon and Secretary Raimondo co-organized the Korea-US Business Roundtable attended by representatives of leading semiconductor, battery, automobile and v date2021-05-22

Korea, Israel sign free trade pact

Trade Minister Yoo Myung-hee (second from the right) attended the signing ceremony for the free trade agreement (FTA) between Korea and Israel in Seoul, on May 12.   Trade Minister Yoo said that the Korea-Israel FTA will not only lower tariffs and improve the investment environment, but will also build a strong platform that boosts economic growth by drumming up technological innovation and cooperation in high-tech industries between the two countries. date2021-05-13

Korea, Malaysia discuss further economic cooperation

Trade Minister Yoo Myung-hee met with her Malaysian counterpart Mohamed Azmin bin Ali in Seoul, on April 1, and exchanged views on expanding economic cooperation between the two countries.In particular, the two ministers discussed pending trade issues including the early implementation of the Regional Comprehensive Economic Partnership (RCEP), Korea-Malaysia Free Trade Agreement (FTA), and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).They also discussed measures date2021-04-01

Korea, Indonesia sign CEPA

Trade, Industry and Energy Minister Sung Yunmo (right) attended the signing ceremony of the Korea-Indonesia Comprehensive Economic Partners Agreement (CEPA) in Seoul, on December 18, the first bilateral free trade agreement with an ASEAN member country since the announcement of the New Southern Policy in November 2017.   The agreement came eight years after the launch of negotiations, and Minister Sung said that the CEPA is a comprehensive and cooperative platform that will not only reduc date2020-12-18