Ministry of Trade, Industry and Energy

Korea, Indonesia agree to work together to overcome economic challenges amid pandemic

Trade, Industry and Energy Minister Sung Yun-mo (left) met with his Indonesian counterpart Bahlil Lahadalia in Seoul on November 12, to discuss ways to expand investment and industrial cooperation between the two nations. Minister Sung also requested that the two countries work together to overcome the difficult economic situation presented by COVID-19 and ensure smooth business activities by more than 2,000 Korean companies in steel, petrochemical, automobile, and textile industries operating i date2020-11-12

Minister Sung meets Uzbek counterpart at Joint Committee on Trade and Economic Cooperation

Trade, Industry and Energy Minister Sung Yun-mo met with Uzbek deputy prime minister for investments and foreign trade Sardor Umurzakov virtually at the 10th Joint Committee on Trade and Economic Cooperation between Korea and Uzbekistan on November 6, to call for bilateral trade talks and expanded digital cooperation. date2020-11-06

Korea, Myanmar to expand economic ties

Trade, Industry and Energy Minister Sung Yun-mo attended the virtual meeting of Joint Commission on Trade and Industry Cooperation between Myanmar and Korea, on September 16, to discuss bilateral economic cooperation in trade, industry, energy, and investment between the two countries.In particular, the two countries agreed to start the construction of Korea-Myanmar Industrial Complex (KMIC) in December, and continue with cooperation in the construction and infrastructure industries. date2020-09-17

Trade Minister Yoo meets with trade ministers virtually to talk about global economic recovery

Trade Minister Yoo Myung-hee attended the RCEP ministerial meeting and the ASEAN, ASEAN+3, EAS economic ministers' meetings virtually from August 27 to 29, and checked the progress of the RCEP agreement as well as the economic cooperation programs between Korea and ASEAN.Trade Minister Yoo also discussed with her fellow ministers the cooperation measures for easing the impact of COVID-19 on the global economy. date2020-08-31

Korea, Cambodia to launch official negotiations for FTA

Trade Minister Yoo Myung-hee (right) had a virtual meeting with her Cambodian counterpart Pan Sorasak on July 9, and announced the launch of official negotiations for a bilateral free trade agreement (FTA) between the two countries.   Trade Minister Yoo welcomed the launch of official talks with Cambodia as an opportunity to strengthen economic ties with the country that has a great potential for growth as ASEAN’s production and trade hub, and to enhance the competitiveness of Korea date2020-07-10

Minister Sung meets with Uzbekistan’s deputy prime minister for investment and foreign economic affairs

Trade, Industry and Energy Minister Sung Yun-mo (left) met with Uzbekistan’s deputy prime minister for investments and foreign economic affairs, Sardor Umurzakov, in Seoul on July 6.   At the first ministerial meeting held face-to-face since the coronavirus outbreak, the two countries discussed ways to expand bilateral economic cooperation in various industries and agreed to proceed with preparations for the Korea-Uzbek free trade agreement (FTA) negotiations. date2020-07-07

Korea, Singapore begin talks on digital trade agreement

Trade Minister Yoo Myung-hee (right) talked with her Singaporean counterpart Chan Chun Sing via videoconference on June 22, to start negotiations on the Korea-Singapore Digital Partnership Agreement (KSDPA), the first digital trade deal for Korea.   Trade Minister Yoo said that the agreement is expected to help ease digital trade barriers between the two countries and enhance global competitiveness of new technology-based Korean firms.   The first official round of negotiations wil date2020-06-23

Korea, China discuss joint efforts to facilitate economic exchanges amid COVID-19

Trade, Industry and Energy Minister Sung Yun-mo (center) talked with his Chinese counterpart Zhong Shan via teleconference on April 17, to discuss ways to expand bilateral cooperation as a follow-up to the ASEAN+3 Special Summit held on April 14.   Minister Sung proposed that the two countries work together to allow businesspeople make essential trips across borders. The two countries also agreed to work toward signing the Regional Comprehensive Economic Partnership (RCEP) agreement withi date2020-04-17

Korea, Vietnam seek closer cooperation in stabilizing global supply chain affected by COVID-19

Trade, Industry and Energy Minister Sung Yun-mo (right) talked with his Vietnamese counterpart Tran Tuan Anh via videoconference on April 13, to discuss ways to expand bilateral economic ties and to cooperate for the smooth functioning of the global supply chain affected by the new coronavirus spread. Minister Sung emphasized the importance of maintaining business activities by granting entry ban exemptions for the businesspeople. The two countries also agreed to establish Electronic Origin Dat date2020-04-14

Trade Minister Yoo attends meeting held by Seoul Japan Club

Trade Minister Yoo Myung-hee (center) underlined a bridge role of Japanese companies doing business in Korea for economic cooperation between Korea and Japan in a meeting with members of the Seoul Japan Club in Seoul on December 11.The meeting was attended by more than 50 representatives from Japanese companies operating in Korea. date2019-12-16