Ministry of Trade, Industry and Energy

Korea, UK sign bilateral free trade agreement in principle in Seoul

Trade Minister Yoo Myung-hee (left) signed a Korea-UK free trade agreement in principle with UK Secretary of State for International Trade Liam Fox in Seoul on June 10.The agreement was reached to ensure the stability and continuity of the trade between the two countries ahead of Britain’s exit from the European Union. date2019-06-10

Trade Minister Yoo meets with India’s Commerce Minister in Japan

Trade Minister Yoo Myung-hee (left) met with India’s Minister of Commerce and Industry Piyush Goyal on June 8 at the G20 Ministerial Meeting on Trade and Digital Economy held in Tsukuba, Japan.The Ministers reconfirmed the agreement that the two sides will strike a deal within this year to enhance the Korea-India Comprehensive Economic Partnership Agreement (CEPA). As part of this effort, they agreed to find ways to accelerate the negotiations at a June meeting. date2019-06-10

Korea, Philippines launch free trade negotiations in Seoul

Trade Minister Yoo Myung-hee (right) and the Philippines’ Secretary of Trade and Industry Ramon M. Lopez signed a joint declaration to launch negotiations for a free trade agreement between Korea and the Philippines at a ceremony held in Seoul on June 3.During the event, Trade Minister Yoo said the Korea-Philippines FTA will provide opportunities for both countries to significantly expand their trade and investment. She emphasized that by removing tariffs and non-tariff barriers, the bilat date2019-06-03

Industry Ministry, China’s Jiangsu Province to advance trade, investment ties

Trade, Industry and Energy Minister Sung Yun-mo (left) met with Communist Party Secretary of China’s Jiangsu Province Lou Qinjian in Seoul on May 27.Minister Sung and Secretary Lou discussed ways to promote cooperation between the two sides in industry, trade, and investment.As part of this effort, the two officials signed a memorandum of understanding on improving economic and trade ties. Both sides agreed to enhance collaboration in new industries as well as industrial complexes located date2019-05-27

Korea, Brazil to strengthen trade, investment ties

Deputy Minister for FTA Negotiations Yeo Han-koo (left) met with Brazilian Minister of Foreign Affairs Ernesto Araújo to exchange views on a range of issues between the two countries, including the Korea-MERCOSUR trade agreement, in Brasilia on May 20 (local time).Deputy Minister Yeo also gave an opening speech at the Korea-Brazil Forum for Industrial Cooperation held in São Paulo on the following day.During his speech, Deputy Minister Yeo said that the potential for trade expansio date2019-05-22

Minister Sung convenes breakfast meeting with Korean business leaders in Uzbekistan

Trade, Industry and Energy Minister Sung Yun-mo (center) convened a breakfast meeting with Korean business leaders to discuss economic cooperation with Uzbekistan in Tashkent on April 19 (local time).On the same day, government agencies, institutions, and companies from Korea and Uzbekistan signed a total of ten memoranda of understanding (MOUs) as an effort to expand cooperation and promote industrial diversification. The areas of cooperation include information and communication technology, di date2019-04-19

Korea, Philippines hold trade ministerial meeting in Manila

Trade Minister Yoo Myung-hee (fifth from the right) and Philippine Trade and Industry Secretary Ramon M. Lopez (fifth from the left) explored ways to boost economic and trade ties between the two countries at a ministerial meeting held in Manila on April 17 (local time).The two sides agreed to make the best effort to conclude negotiations for a bilateral free trade agreement in time for the Korea-ASEAN Commemorative Summit scheduled in November 2019.This year marks the 70th anniversary of t date2019-04-17

Minister Sung and Turkmen Finance Minister vow to step up cooperation in industry and energy

Trade, Industry and Energy Minister Sung Yun-mo (left) and Turkmenistan Finance and Economy Minister Batyr Bazarov signed a memorandum of understanding (MOU) on expanding cooperation in standardization at a Korea-Turkmenistan MOU signing ceremony held in Ashgabat on April 16 (local time).In addition to the above signed MOU, five more MOUs were inked between the two countries to improve ties in various areas of industry and energy, including transportation infrastructure, synthetic textiles, and date2019-04-16

Minister Sung encourages greater cooperation between Korean and Chinese businesses

Trade, Industry and Energy Minister Sung Yun-mo delivered a speech at a dinner organized during the eighth Korea-Guangdong Economic and Trade Development Forum that took place in Seoul on April 4.During his remarks, Minister Sung encouraged greater cooperation between Korean and Chinese businesses. More than 200 corporate leaders were present at the dinner.Minister Sung also had a meeting with China’s Guangdong Province Governor Ma Xingrui where both officials agreed to expand investment a date2019-04-04

8th Korea-Guangdong Economic and Trade Development Forum takes place in Seoul

Trade Minister Yoo Myung-hee (third from the left) gave congratulatory remarks at the eighth Korea-Guangdong Economic and Trade Development Forum, which was held in Seoul on April 4 to discuss ways to cooperate in the age of the Fourth Industrial Revolution.During her speech, Trade Minister Yoo highlighted that Korea and the Chinese province of Guangdong need to expedite cooperation as first movers rather than as fast followers.The event was attended by more than 250 participants from government date2019-04-04