Ministry of Trade, Industry and Energy

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

Minister Paik chairs public-private meeting for industrial cooperation with UAE and Vietnam

Trade, Industry and Energy Minister Paik Ungyu (second from right) chaired a public-private meeting for industrial cooperation with the United Arab Emirates (U.A.E.) and Vietnam in Seoul on April 12.During the meeting with government officials and industry leaders, Minister Paik said that the Ministry will make every effort to help the private sector participate in industrial projects in the U.A.E. and Vietnam.The meeting was attended by about 30 representatives from the industry and trade secto date2018-04-12

Minister Paik attends signing ceremony for Korea-UAE Economic Cooperation in Abu Dhabi

Trade, Industry and Energy Minister Paik Ungyu (second from left) attended the memorandum of understanding and contract signing ceremony for economic cooperation between Korea and the United Arab Emirates (U.A.E.) that was held in Abu Dhabi on March 26 (U.A.E. time). During the ceremony, Korea Electric Power Corporation Vice President Kim Shi-ho (left) and Barakah One Company CEO Nasser Al Nasseri (second from right) signed the Charter for Joint Business Cooperation as an effort to expand date2018-03-27

Korea, UAE seek to enhance economic cooperation

The Ministry of Trade, Industry and Energy announced on March 27 that Trade, Industry and Energy Minister Paik Ungyu attended the memorandum of understanding and contract signing ceremony for economic cooperation between Korea and the United Arab Emirates (U.A.E.) that was held in Abu Dhabi on March 26 (U.A.E. time).During the ceremony, the Korea Electric Power Corporation and the U.A.E.’s Barakah One Company signed the Charter for Joint Business Cooperation.The two countries regarded the date2018-03-27

Korea, US reach agreement on trade deal and steel tariff exemption

Trade Minister Kim Hyun-chong announced on March 26 that Korea and the U.S. reached an agreement on amending their six-year old free trade agreement (Korea-U.S. FTA) and on exempting Korea from U.S. steel tariffs. He made the comment during a press briefing held at the government complex in Seoul.Trade Minister Kim said both sides reached an agreement in principle on FTA amendments. He stressed to the press that there will be no further opening of agricultural markets and no changes to the tarif date2018-03-26

Korea, U.S. reach revised free trade agreement in principle

Seoul, Korea - The Ministry of Trade, Industry and Energy announced on March 26 that the Republic of Korea and the United States reached an agreement in principle to the revision of the Korea-U.S. Free Trade Agreement. The agreement reached between the two sides has removed the uncertainty that could result from long-term negotiations. Both sides will finalize the details of a draft agreement before proceeding with their respective domestic procedures. The two countries also agreed to exempt t date2018-03-26

Korea, China, Japan hold 13th round of FTA talks in Seoul

Deputy Minister of Trade and Investment Kim Young-sam (center) of the Ministry of Trade, Industry and Energy, China’s Vice Minister Wang Shouwen (left) of the Ministry of Commerce, and Japan’s Deputy Minister Kazuyuki Yamazaki (right) of the Ministry of Foreign Affairs posed for a photo at the 13th round of Korea-China-Japan FTA negotiations in Seoul on March 23.During the meeting, the three ministers discussed ways to advance negotiations on topics such as goods, services, and inves date2018-03-23

Minister Paik meets Vietnamese counterpart in Hanoi

Trade, Industry and Energy Minister Paik Ungyu (right) posed for a photo with Vietnam’s Industry and Trade Minister Tran Tuan Anh during his visit to Hanoi, Vietnam, on March 22.During their meeting, Minister Paik and Minister Anh discussed the direction of economic cooperation between the two sides.The meeting was followed by a signing ceremony of memorandums of understanding for closer ties between the two countries in five different sectors: automobiles, textiles and shoes, electricity, date2018-03-22

Korea, China begin subsequent FTA negotiations in Seoul

Korea and China began the first round of subsequent negotiations for the Korea-China free trade agreement (FTA) to expand liberalization in the service and investment sectors based on a negative list approach in Seoul on March 22.The Korean delegation was led by Deputy Minister of Trade and Investment Kim Young-sam (third from right) of the Ministry of Trade, Industry and Energy. The Chinese delegation was led by Vice Minister Wang Shouwen (third from left) of the Ministry of Commerce.During Pre date2018-03-22