Ministry of Trade, Industry and Energy

MOTIE Deputy Minister Attends 12th APEC Energy Ministers' Meeting

The MOTIE's Deputy Energy Minister Jung Yang-ho participated in the 2015 APEC Energy Ministrial Meeting held in Cebu, the Philippines, yesterday, to present South Korea's energy policy stance.   At this year's gathering, more than 200 delegates from member economies discussed ways to ensure functioning power systems amid weather swings and surging demand, among other topics.   For more information about the outcomes of the 12th APEC Energy Ministers' Meeting. please visit the relevant date2015-10-14

South Korea Hosts 10th RCEP Talks

      South Korea is hosting the 10th round of negotiations for the Regional Comprehensive Economic Partnership (RCEP) in its largest southern coastal city of Busan this week.   The MOTIE's Vice Trade Minister Moon Jae-Do said in a keynote speech on Monday that "foundations were laid to speed up economic integration in East Asia" through RCEP, a multilateral free trade agreement (FTA) involving China, South Korea, Japan and 10 ASEAN members as well as India, Australia and New Zealand.   Moon asked negotiators to seek "creative and constructive alternatives" to make progress at this week's gathering, where around 700 delegates joined to discuss the mega-FTA framework.   On the sidelines of the RCEP talks, Vice Minister Moon held a meeting with Iman Pambagyo, RCEP trade negotiating committee chairman, to seek better South Korea-ASEAN relations. date2015-10-14

MOTIE Vice Minister Discusses Bilateral Cooperation with German Deputy Economic Minister

      The MOTIE's Second Vice Minister Moon Jae-do received a visit by a government delegation from Germany led by Deputy Economic Minister Matthias Machnig at his satellite office in Seoul this week.   During the visit, Vice Minister Moon exchanged views on how to promote economic and industrial cooperation between South Korea and Germany with Deputy Minister Machnig, who is accompanying German President Joachim Gauck in Seoul for a state visit. date2015-10-14

MOTIE Minister and Uzbek Deputy Prime Minister Seek Ways to Strengthen Bilateral Cooperation

      Minister of Trade, Industry and Energy Yoon Sang-jick received a visit by a government delegation from Uzbekistan led by Deputy Prime Minister Gulomjon Inomovich Ibragimov at his satellite office in Seoul over the weekend.   During the visit, Minister Yoon and Deputy Prime Minister Ibragimov discussed ways to strengthen bilateral economic cooperation in energy, resources and other key areas between South Korea and Uzbekistan. date2015-10-13

MOTIE 2nd Vice Minister Moon Attends G20 TMM in Istanbul

      MOTIE Second Vice Minister Moon Jae-do attended the G20 Trade Ministers' Meeting (TMM) in Istanbul yesterday, where ministers discussed ways to facilitate global trade in order to promote economic growth and create more jobs across the world.   On the sidelines of the meeting, Minister Moon held a one-on-one meetings with his counterparts from China, Brazil, Turkey and Canada, to strengthen bilateral economic cooperation between South Korea and these countries. date2015-10-06

Republic of Korea and Six Central American Countries Holds First FTA Talks

      The Republic of Korea is holding the first official round of negotiations for a free trade agreement (FTA) with six Central American countries from today through Sept. 25 in Seoul.   During the five-day talks, Korea and the six nations including El Salvador, Panama, Honduras, Costa Rica, Guatemala and Nicaragua will seek a comprehensive and high-level FTA. date2015-09-21

First negotiation talks for the FTA to be held between Korea and six South American countries

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 21 that the first negotiation talks for the FTA between South Korea, El Salvador, Panama, Honduras, Costa Rica, Guatemala and Nicaragua are to be held from September 21 to 25 in Seoul.     The negotiation talks were scheduled and announced in June this year with the aim to achieve a "qualitative and comprehensive FTA", and a preliminary negotiation talks were held in July in order to specify minor regulations to be added in the agreement.     In the first negotiation talks, representatives from the six countries will share opinions on a total of 9 areas and 15 chapters including products, trade aid, country of origin and customs clearance.     The 6 South American countries have a high growth potential as they rank high both in GDP and population, and goods traded between South Korea and these countries amounted to $ 5 billion in 2014. The FTA is expected to help diversify economic cooperation between the countries.     * Short version date2015-09-21

ROK and EU Hold 5th FTA Trade Committee Meeting

      The Republic of Korea and the European Union (EU) held the Fifth Trade Committee meeting in Seoul today to check the implementation of their bilateral free trade agreement over the past five years.   Minister of Trade, Industry and Energy Yoon Sang-jick met with European Trade Commissioner Cecilia Malmström before leading their delegations at the committee meeting.   During their meeting, they exchanged views on various trade issues between Korea and the EU, such as technical barriers to trade (TBT), sanitary and phytosanitary (SPS) and intellectual property (IP). date2015-09-15

MOTIE Minister Yoon Meets with President-Designate of AIIB

      Minister of Trade, Industry and Energy Yoon Sang-jick received a visit by Jin Liqun, president-designate of the Asian Infrastructure Investment Bank (AIIB), at his satellite office in Seoul today.   During the meeting, the two exchanged various ideas on how to facilitate cooperation between South Korea and the China-led AIIB once the new global lending institution is launched. date2015-09-09

South Korea and China Sign MoU for More Cooperation on Quality Inspection of Imports

    South Korea and China signed a memorandum of understanding (MoU) to strengthen cooperation on the quarantine and quality inspection of their imports last week.   Moon Jae-do, second vice minister at the Ministry of Trade, Industry and Energy (MOTIE) attended the signing ceremony held in Beijing, China. date2015-09-08