Ministry of Trade, Industry and Energy

MOTIE Minister Yoon and China's Sichuan Governor Hong Discuss South Korea-China Cooperation

    MOTIE Minister Yoon Sang-jick met with Wei Hong, governor of Sichuan Province, in Chengdu city, China, yesterday to discuss bilateral economic cooperation between South Korea and the Chinese region.   During the one-to-one meeting, the two exchange views on various topics, including industrial policy cooperation, China's `One Belt, One Road' initiative and the Asian Infrastructure Investment Bank (AIIB). date2015-05-22

MOTIE Minister Yoon and Australia's NSW Premier Baird Meet in Seoul

    MOTIE Minister Yoon Sang-jick received a visit by Australia's New South Wales Premier Mike Baird yesterday at his satellite office in Seoul to discuss ways to promote trade and investment cooperation between South Korea and the southeastern Australian state.   They also exchanged views on the implementation of the free trade agreement (FTA) between South Korea and Australia, which went into effect on December 12 last year, and energy cooperation between the two countries.   date2015-05-21

South Korea and India Strike Deal on Joint Production of Audiovisual Content

      MOTIE Minister Yoon Sang-jick and Anil Wadhwa, Secretary (East) of India's Ministry of External Affairs, signed an agreement earlier this week in Seoul on the joint production of audiovisual content between South Korea and India.   The agreement will make it easier for jointly-produced audiovisual content to receive equal treatment and benefits as content produced locally in each country.   The signing took place on the occasion of Indian Prime Minister Narendra Modi's state visit to South Korea from May 18 to May 19 as part of his three-nation tour, which included China and Mongolia.   The deal would help South Korea tap into India's fast-growing video content market, which has the world's sixth largest movie market known as Bollywood and 10th largest television broadcasting market.   Minister Yoon also signed a memorandum of understanding (MoU) with Indian Ambassador to Korea Vikram Doraiswami on promoting bilateral cooperation in the areas of electricity and renewable energy.   date2015-05-20

South Korea and India Launch CEO Forum on Bilateral Business Cooperation

      South Korea and India yesterday launched a joint forum for chief executives of top companies from both countries to promote bilateral business cooperation.   President Park Geun-hye and India's Prime Minister Narendra Modi, who was on a two-day state visit to South Korea, attended the launching ceremony in Seoul.   At the forum, about 300 business leaders, including Aditya Birla Group Chairman Kumar Manglam Birla, discussed ways to strengthen and move forward bilateral economic ties between the two countries.   The Ministry of Trade, Industry and Energy (MOTIE) and India's Ministry and Commerce and Industry prepared the forum and hosted its first meeting together. date2015-05-20

MOTIE Discusses Economic Cooperation with Germany's Saxony

    The MOTIE's 2nd Vice Minister Moon Jae-do held a meeting in Seoul last week with Martin Dulig, Germany's Saxon State Minister of Economic Affairs, Labour and Transport and Deputy Prime Minister, who is visiting South Korea to invite foreign investment to his state.   During the meeting, the two exchanged ideas on ways to promote bilateral economic cooperation between South Korea and the German state, including research and development and high-tech technology related to semiconductors, automobiles and energy. date2015-05-20

South Korea and India Upgrade Bilateral Relations to `Special Strategic Parnership'

      South Korean President Park Geun-hye and India's Prime Minister Narendra Modi agreed to upgrade the bilateral relationship of their countries to a `Special Strategic Partnership' during a summit Seoul yesterday.   "India sees the ROK as an indispensable partner in its `Act East' strategy, and the ROK and India recognize the value of the bilateral partnership and its contribution to bringing peac   The two countries also signed seven agreements covering trade, investment, double taxation, technology, energy, environment, culture, education, people-to-people exchange and regional and multilateral cooperation, according to the statement.   Notably, South Korea expressed its intention to provide US $10 billion for mutual cooperation in infrastructure, comprising the Economic Development Cooperation Fund (US $ 1 billion) and export credits (US $ 9 billion) for priority sectors, including smart cities, railways, power generation and transmission, and other sectors to be agreed.   PM Modi is on a two-day state visit to Seoul, the final destination on a three-nation tour that includes China, Mongolia and South Korea, which is aimed at strengthening India's ties with East Asian countries.   For the full-text of the summit's joint statement, posted by Bihar Prabha:   date2015-05-19

South Korea and Japan's Business Leaders Support Trilateral FTA with China

      Business leaders from South Korea and Japan expressed support for a trilateral free trade agreement (FTA) between their countries and China, which has been under negotiation since November 2012.   At the 47th Korea-Japan Businessmen Conference, the two neighboring countries also supported South Korea's participation in the U.S.-led Trans-Pacific Partnership (TPP), which is yet to be decided.   In a congratulatory speech at the conference, the MOTIE's Vice Minister Moon Jae-do urged the business leaders to work more closely to help strengthen bilateral economic cooperation between South Korea and Japan.   date2015-05-18

South Korea and Romania to Strengthen Industrial Cooperation

South Korea and Romania to Strengthen Industrial Cooperation   The MOTIE's 2nd Vice Minister Moon Jae-do attended and delivered an opening speech at the 8th Korea-Romania Industrial Cooperation Committee Meeting in Seoul this week.   During the meeting, the delegations from both countries, led by Vice Minister Moon and his Romanian counterpart Florin Vodita, discussed ways to promote industrial cooperation between South Korea and Romania.   The MOTIE and the Economy Ministry of R date2015-05-15

South Korea, China and Japan Hold 7th Round of FTA Talks in Seoul

A new round of talks for a trilateral free trade agreement (FTA) between South Korea, China and Japan is now taking place in Seoul, which would pave the way for a new future for Asia's three major economies and global trade.   During the two-day talks from May 12 to May 13, Assistant Trade Minister Kim Hak-do and his Chinese and Jap   The three countries initiated their trilateral FTA talks in November 2012 and are holding the seventh round of working-level discussion with the aim of striking a "comprehensive and high-quality" agreement.   In 2012, the combined gross domestic product of the three countries exceeded 14 trillion US dollars, making up about 20 percent of the world total and 70 percent of Asia's total, according to a report by CRI:   date2015-05-13

MOTIE Discusses Economic Cooperation with India

      MOTIE Minister Yoon Sang-jick received a visit by Franciscus Sibarani, chairman of the Indonesia Investment Coordinating Board (BKPM), in Seoul last week to discuss bilateral economic cooperation between South Korea and the world's fourth most populous nation.   South Korean investors expressed their commitment to invest $9.7 billion in Indonesia in such industries as petrochemicals and electricity generation following a visit by the BKPM to Korea, reports Jakarta Globe:                 date2015-05-11