Ministry of Trade, Industry and Energy

Public and private sectors join hands in preparations for APEC 2025

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea attended the launching ceremony of the private steering committee (“Committee”) for the Asia-Pacific Economic Cooperation (APEC) CEO Summit Korea 2025 to take stock of preparations and Committee plans and encouraged business leaders’ active cooperation for Korea’s successful hosting of this year’s APEC Economic Leaders' Meeting (AELM). The Korea Chamber of Commerce and Industry (KCCI) plans to establish a private support system for the successful hosting of the APEC CEO Summit and other AELM events held on the margins of the 2025 APEC Summit in Gyeongju. The Committee is led by KCCI Chairman Chey Tae-won and composed of Korea’s leading CEOs representing the country’s major industries. Committee members will be leveraging the networking capacity of their overseas supply chain businesses to promote the participation of promising global business leaders. To increase the participation of global business leaders in AELM events this year, MOTIE plans to carry out promotion activities at home and abroad through related organizations such as overseas missions and the Korea Trade-Investment Promotion Agency (KOTRA). With Korea resuming the APEC chairmanship in 20 years, MOTIE aims to make use of the opportunity to facilitate discussions for cooperation in new trade areas like sustainable development, supply chains, artificial intelligence (AI), and digital, while also furthering the existing discourse on trade cooperation including ways to strengthen the multilateral trade system and free trade.   date2025-01-23

Experts discuss future Korea-ASEAN cooperation at Indo-Pacific policy forum

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea held an Indo-Pacific policy forum today in Seoul to discuss measures for Korea-ASEAN cooperation in light of the newly inaugurated U.S. administration by forecasting overall impact on ASEAN, which is not only a key region in the Global South but also home to approximately 40 percent of all Korean companies operating in overseas markets. Hosted by MOTIE and organized by the Korea University ASEAN Center (KUAC), today’s forum was launched with the participation of ASEAN experts from academia and research institutes to take stock of the Korea-ASEAN economic cooperation outcomes and discuss future cooperation. They also touched on issues like global oversupply and strategic response measures against trade risks. On launching the ASEAN-ROK Think Tank Dialogue on Economic & Trade Policy (AKTD) during the first quarter of 2025, MOTIE will be utilizing the dialogue as a new Korea-ASEAN trade and economic cooperation channel, while continuing to support the stable business activities of Korean firms in the ASEAN market by closely communicating with relevant governments and industries.   date2025-01-23

10th subsequent negotiating round of Korea-China FTA for services and investment

Director General for FTA Negotiations Kwon Hye-jin at the Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea led the Korean delegation in the 10th subsequent negotiating round of the Korea-China Free Trade Agreement (FTA) for services and investment through January 15–17 in Seoul. date2025-01-21

Korea and China hold 10th round of subsequent negotiations on bilateral FTA for services and investment

Director General for FTA Negotiations Kwon Hye-jin at the Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea is leading the Korean delegation in the 10th subsequent negotiating round of the Korea-China Free Trade Agreement (FTA) for services and investment through January 15–17 in Seoul. Chen Zhiyang, Deputy Division Director of the Department of International Trade and Economic Affairs at China’s Ministry of Commerce, is the chief delegate for the Chinese delegation. A total of 40 delegates from both countries are participating in the negotiations. Following the bilateral FTA’s entry into force in 2015, Korea and China launched subsequent negotiations on services and investment in March 2018 in accordance with the FTA guideline and have maintained discussions through official negotiating rounds as well as intersessional and chief delegate meetings. The 10th round is the first official round to take place since the ninth official negotiating round convened in 2020. In this round, the Korean government aims to accelerate discussions for upgrading the bilateral FTA in areas like service, investment, and finance.   date2025-01-16

Korea and Pakistan jointly declare launch of negotiations for bilateral EPA

Trade Minister Inkyo Cheong of the Republic of Korea and Pakistan’s Federal Minister of Commerce Jam Kamal Khan jointly declared the launch of negotiations for the bilateral Korea-Pakistan Economic Partnership Agreement (EPA) on January 9 in Seoul. date2025-01-13

Korea and Pakistan to launch negotiations for bilateral EPA

The negotiations for an Economic Partnership Agreement (EPA) with Pakistan, South Asia's second-largest market, officially commenced, marking the start of efforts in 2025 to further expand Korea's export base through strengthened trade networks. Minister for Trade Inkyo Cheong of the Republic of Korea and Pakistan’s Federal Minister of Commerce Jam Kamal Khan formally announced the initiation of the Korea-Pakistan EPA negotiations on the morning of January 9 in Seoul. Pakistan, the world’s fifth most populous country, boasts abundant labor resources (population of 250 million, 30% youth demographic) and natural resources (coal, natural gas, copper). Strategically located in South Asia, it serves as a key potential market with borders connecting to major Asian economies like China and India. Expanding trade and investment through the Korea-Pakistan EPA is expected to yield mutual benefits, securing an export growth market for Korea and contributing to Pakistan's stable economic development. Furthermore, as the Pakistani government actively promotes policies to foster its digital, IT, and automotive industries for economic growth, opportunities for collaboration in these sectors—where Korea excels—are anticipated to expand significantly. Trade Minister Cheong remarked, “Amid heightened uncertainties due to the rapid shifts in the trade environment following the inauguration of the new administration and the weakening of the multilateral trade system under the WTO, the importance of FTAs is growing even more significant.” He added, “Starting with Pakistan, we aim to broaden our trade networks this year, focusing on emerging markets in the Global South.” Following the commencement of negotiations for an EPA with Bangladesh in November last year, today’s launch of negotiations with Pakistan is expected to lay the groundwork for long-term partnerships with key South Asian nations that demonstrate significant growth potential.   date2025-01-09

Korea-Nepal TIPF MOU signing ceremony

Minister for Trade Inkyo Cheong of the Republic of Korea attended the Korea-Nepal Trade and Investment Promotion Framework (TIPF) MOU signing ceremony on December 19 in Seoul at KCCI in Seoul with Nepalese Minister of Industry, Commerce and Supplies Damodar Bhandari. date2024-12-20

Korea and Nepal sign TIPF & launch business forum marking half-century of diplomatic relations

Minister for Trade Inkyo Cheong of the Republic of Korea attended the Korea-Nepal Business Forum and the Korea-Nepal Trade and Investment Promotion Framework (TIPF) MOU signing ceremony today in Seoul at the Korea Chamber of Commerce and Industry (KCCI) in Seoul, held on the occasion of Nepalese Minister of Industry, Commerce and Supplies Damodar Bhandari’s visit to Korea. Co-hosted by Korea’s Ministry of Trade, Industry and Energy (MOTIE) and Nepal’s Ministry of Industry, Commerce and Supplies through joint organization by the KCCI and the Embassy of Nepal in Korea, today’s events were held with the participation of approximately 80 business leaders of both countries and served as a venue for discussions on the investment environment in Nepal, market entrance strategies, and bilateral cooperation measures. In his congratulatory message, Trade Minister Cheong stated that this year is a prime time to advance the bilateral economic cooperation a step further as it marks the 50th anniversary of the two countries’ establishment of diplomatic ties, proposing that Korea and Nepal step up exchanges for trade and investment expansion as well as the diversification of industrial collaboration based on the TIPF signed today. The TIPF with Nepal is Korea’s 29th in total and second with a Southwest Asian country following the one with Bangladesh, and is believed to help widen investment and trade with the Global South countries. Today’s Korea-Nepal Business Forum is significant in that both countries can secure fresh momentum for economic cooperation in commemoration of the 50th anniversary of diplomatic relations. Going forward, MOTIE plans to leverage various government channels to help Korean firms engage in stable business activities in Nepal.   date2024-12-19

Trade Minister attends ASEAN-ROK Think Tank Dialogue

Minister for Trade Inkyo Cheong of the Republic of Korea held the “ASEAN-ROK Think Tank Dialogue on Economic and Trade Policy (AKTD)” roundtable meeting on December 17 in Seoul with roughly 30 attendees composed of ASEAN countries’ ambassadors to Korea, Economic Research Institute for ASEAN and East Asia (ERIA) President Tetsuya Watanabe, and the ASEAN Secretariat to discuss plans for the AKTD’s launch in 2025 and future directions. date2024-12-18

Korea and Thailand Hold 3rd Official Negotiating Round for Bilateral EPA

Korea’s Deputy Minister for FTA Negotiations Roh Keon-ki and Director General of the Department of Trade Negotiations at the Ministry of Commerce of Thailand Chotima Iemsawasdikul led their respective delegations in the third official negotiating round for the Korea-Thailand Economic Partnership Agreement (EPA) on December 17 in Bangkok, discussing goods, services, investment, rules of origin, government procurement, intellectual property. date2024-12-18