Ministry of Trade, Industry and Energy

Trade Ministry publishes agreed outcomes of Korea-US FTA amendment and modification negotiations

The Ministry of Trade, Industry and Energy and the Office of the United States Trade Representative published the agreed outcomes of amendment and modification negotiations to the Korea-US Free Trade Agreement at 10:00 p.m. (local time) on September 3.As the first step in its domestic procedure, the Ministry will gather public comments on the Korean translations of the two protocols from September 3 to 10. The submitted comments will be reviewed for possible inclusion before finalizing the Korea date2018-09-03

Trade Minister attends 6th RCEP ministerial meeting

Trade Minister Kim Hyun-chong (fifth from right in the first row) attended the sixth Regional Comprehensive Economic Partnership (RCEP) ministerial meeting held in Singapore from August 30 to 31.During the meeting, Trade Minister Kim and top trade officials from 16 countries including China, Japan, and Association of Southeast Asian Nations (ASEAN) member states emphasized the importance of RCEP amid growing uncertainties in the global trade environment and reaffirmed their commitment to reach a date2018-08-31

Trade Minister meets US chief trade negotiator

Trade Minister Kim Hyun-chong (right) met with U.S. Trade Representative Robert Lighthizer to discuss the follow-ups for updating the Korea-US free trade agreement in Washington on July 27.    The two countries had reached an agreement in principle on reforming the six-year-old Korea-US trade pact in March 25 this year and since then, they have taken measures required for the signing.   The Minister also delivered Korea’s views to the U.S. chief trade negotiator on why t date2018-07-28

Trade Minister meets with NEC director to call for US car tariff exemptions

Trade Minister Kim Hyun-chong (left) met Larry Kudlow, Director of the U.S. National Economic Council (NEC), in Washington on July 20 and called on the U.S. government to exempt tariffs on the imports of Korean cars and car parts.   The Minister explained to the White House economic advisor that Korea should not be subject to the Section 232 tariffs on imported autos and auto parts. He said that the country has never posed a threat to the U.S. national security as its key ally and has rem date2018-07-21

South Korea, Canada discuss joint response to US auto tariffs

Trade Minister Kim Hyun-chong (right) and Canadian Minister of Foreign Affairs Chrystia Freeland discussed ways to cooperate against the U.S. Section 232 investigations into auto and auto parts imports in Canada on July 18.    Both Ministers agreed that the two countries, both of which are allied with the U.S. and have a trade pact with the U.S., should be exempted from possible new security-based tariffs. In addition, the officials underlined the need for joint actions against grow date2018-07-19

Trade Minister exchanges views with advisors on trade issues

Trade Minister Kim Hyun-chong (center) hosted a meeting with advisors for trade issues in the private sector to discuss a strategic approach to key trade issues facing Korea in Seoul on July 16.   Key issues brought to the table ranged from the government’s response to the U.S.-China trade tensions to the U.S. Section 232 probe into imports of autos and auto parts.   Advisors in the meeting included Kim jun-dong, Vice Chairman of the Korea Chamber of Commerce and Industry, Ha date2018-07-16

Vice Minister attends trade remedy forum

Vice Minister of Trade, Industry and Energy Lee In-ho (seventh from left, front row) gave the congratulatory remarks at the Seoul International Forum on Trade Remedies 2018 in Seoul on July 3.    Saying that the free trade system has contributed to growth and made our lives considerably better, Vice Minister Lee called for fair and transparent remedies that abide by WTO rules and told the trade remedy authorities that they should reduce uncertainties in order to overcome protectionis date2018-07-03

Trade Minister calls for swift RCEP deal

Trade Minister Kim Hyun-chong (third from left, back row) attended the ministerial meeting for the Regional Comprehensive Economic Partnership (RCEP) that took place in Tokyo on July 1.    In his opening remarks, Trade Minister Kim said that reaching a RCEP deal would be a great opportunity to show that shared prosperity can be built across regions through free trade, against a backdrop in which protectionism is posing a threat to the world's free trade system.    He also date2018-07-01

Minister Paik meets US House Foreign Affairs Committee chairman

Minister of Trade, Industry and Energy Paik Ungyu (right) met with U.S. House Committee on Foreign Affairs Chairman Ed Royce to discuss trade and other related issues in Washington, D.C., on June 27.   During the meeting, the minister expressed his concerns to the U.S. lawmaker about the U.S. investigation into imported automobiles based on national security concerns, and said he hoped that the free, fair and reciprocal trade that could be achieved by the Korea-U.S. free trade agreement s date2018-06-28

Trade Minister discusses Korea-China economic cooperation with Chinese commerce minister

Trade Minister Kim Hyun-chong (left) met with Chinese Commerce Minister Zhong Shan to discuss stronger Korea-China economic cooperation and trade, in Beijing on June 27.   During the meeting, Trade Minister Kim said that deeper economic integration between Korea and China would be a practical measure to boost bilateral economic cooperation, and suggested that they discuss a further opening of the two countries’ service markets and stronger investor protection during the subsequent n date2018-06-27