Ministry of Trade, Industry and Energy

Minister Paik pushes for Korea-Singapore ties in industry, energy, and trade

Minister of Trade, Industry and Energy Paik Ungyu (right) sought stronger Korea-Singapore ties in terms of industry, energy, and trade, and called for more joint action in those areas, during talks with Singaporean Minister for Trade and Industry Chan Chun Sing, in Singapore on May 15.   During his two-day visit to Singapore, Minister Paik agreed with his Singaporean counterpart to work together in response to the Fourth Industrial Revolution. The two ministers discussed collaboration be date2018-05-15

Ministry launches task force to study effect of re-imposed US sanctions on Iran

Vice Minister of Trade, Industry and Energy Lee In-ho (right) led the inaugural meeting of the Ministry’s task force, launched to deal with renewed U.S. sanctions on Iran, in Seoul on May 9.   Other attendees included refineries and oil industry groups. The Ministry launched the task force following the U.S. decision to withdraw from the Joint Comprehensive Plan of Action (JCPA) and to re-impose sanctions on Iran.   The task force will study any possible impact on the Korea date2018-05-09

Minister Paik discusses Korea-Japan industrial and trade ties

Minister of Trade, Industry and Energy Paik Ungyu (left) met with Japanese Minister of Economy, Trade and Industry Hiroshige Seko to enhance their bilateral cooperation in the industrial, energy, and trade sectors in Tokyo on May 8.   In his opening remarks during the ministerial meeting, Minister Paik said that the two countries should seek new business models to lead in an age of the Fourth Industrial Revolution.   The two trade ministers shared their vision to adopt cutting-edg date2018-05-08

Minister Paik talks with Saudi counterpart to improve energy and industrial ties

Trade, Industry and Energy Minister Paik Ungyu (right) talked with Saudi Arabia’s Energy, Industry, and Mineral Resources Minister Khalid A. Al-Falih to bolster energy and industrial ties in Seoul on May 4.The two ministers reviewed the progress of the Korea-Saudi Arabia Vision 2030, agreed to coordinate its second committee meeting, and discussed cooperation in automobile and pharmaceutical and biomedical industries.Minister Paik showed Korea’s interest in participating in Saudi Ara date2018-05-04

Minister Paik attends Korea-Turkey business forum

Trade, Industry and Energy Minister Paik Ungyu (fourth from right) met with Turkey’s Economy Minister Nihat Zeybekci (fifth from right) to enhance business ties between the two countries at the Korea-Turkey business forum held in Seoul on May 2.In his congratulatory address at the forum, Minister Paik highlighted that entrepreneurial cooperation between the two nations is important for strengthening the economic relationship. He also added that the role of governments is to create a collab date2018-05-02

Minister Paik meets with US counterpart to enhance economic cooperation

Trade, Industry and Energy Minister Paik Ungyu (right) met with U.S. Commerce Secretary Wilbur Ross to discuss strengthening economic cooperation between Korea and the U.S. in Washington, D.C. on April 23 (U.S. Eastern time).During the meeting, Minister Paik agreed with Secretary Ross to hold regular dialogues between the two countries for industrial cooperation in cutting-edge technologies, such as autonomous vehicles and the fifth generation wireless system.In addition, Minister Paik expressed date2018-04-24

Minister Paik discusses with US Trade Representative

Trade, Industry and Energy Minister Paik Ungyu (right) and United States Trade Representative (USTR) Robert Lighthizer discussed the progress of writing a draft for Korea-U.S. Free Trade Agreement (FTA) amendments during his visit to the Office of the USTR in Washington, D.C. on April 23 (U.S. Eastern time).Accompanied by the Korean delegation for Korea-U.S. FTA negotiations, Minister Paik confirmed with Trade Representative Lighthizer that both sides have made a significant step forward in the date2018-04-24

Trade Minister Kim meets with Myanmarese counterpart

  Trade Minister Kim Hyun-chong (right) co-chaired a meeting with Myanmar’s Commerce Minister Than Myint to have detailed discussion on economic cooperation between the two countries during his visit to Naypyidaw, Myanmar on April 23 (Myanmar time).During the meeting, Trade Minister Kim suggested the designation of special economic zone for the Korea-Myanmar Economic Cooperation Industrial Complex that is currently under development in the north of Yangon to provide benefits, such as date2018-04-23

Korea to enhance economic ties with Myanmar

Trade Minister Kim Hyun-chong (third from left) met with Myanmar’s State Counsellor Daw Aung San Suu Kyi (center) to have a discussion on efforts to enhance economic ties between the two countries in Naypyidaw, Myanmar on April 23 (Myanmar time).The visit to Myanmar by Trade Minister Kim was the first by a Korean ministerial-level official since President Moon Jae-in’s administration took office in May last year.During the meeting, Trade Minister Kim said that Korea’s economic date2018-04-23

Minister Paik seeks energy cooperation with IDB in Washington, DC

Trade, Industry and Energy Minister Paik Ungyu (right) signed a memorandum of understanding for energy cooperation with Inter-American Development Bank (IDB) President Luis Alberto Moreno at the IDB president’s office in Washington, D.C. on April 19 (Eastern U.S. time).During his visit to the IDB, Minister Paik emphasized that Korea’s expertise in plant and infrastructure construction can contribute to economic development in Central and South America.Key areas of energy cooperation date2018-04-20