Ministry of Trade, Industry and Energy

South Korea and Vietnam Officially Sign Free Trade Agreement

South Korea and Vietnam Officially Sign Free Trade Agreement   South Korea and Vietnam officially signed a bilateral free trade agreement (FTA) in Hanoi this week, which is expected to further strengthen the strategic partnership between the two Asian economies.   At the signing ceremony of the FTA, MOTIE Minister Yoon Sang-jick expressed high hopes that the deal will be a good example of a mutually beneficial agreement by promoting bilateral economic cooperation.   The agreement date2015-05-07

Korea and Vietnam sign FTA

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 6 that Korea and Vietnam officially signed FTA after a total of 9 sessions of official talks after the promotion of FTA was agreed at the summit held in 2009.     The Korea-Vietnam FTA is expected to help increase the exports of Korean small and medium-sized material and parts manufacturers, particularly in the areas of textile, home appliances, cosmetics and auto parts thanks to the removal of tariffs on these items.     As for Vietnam, it will be able to attract more foreign investments and promote economy.     At the FTA signing ceremony, Minister of Trade, Industry and Energy Yoon Sang Jik said, "The Korea-Vietnam FTA will make Korean companies invest more in Vietnam, and their investments will help Vietnam's economy grow while also increasing the volume of trade between the two countries. This will be an exemplary case of mutually beneficial FTA for both parties."     * Short version date2015-05-06

President Park Geun-hye Returns Home After Four-Nation Tour of Latin America

      President Park Geun-hye arrived in Seoul today after concluding her four-nation state tour of Latin America from April 16 to April 25, which included Colombia, Peru, Chile and Brazil.   In Brazil, the final stop on her 10-day trip, President Park and President Dilma Rousseff agreed to advance bilateral relations in various fields such as trade, healthcare and information and communications technology (   After the summit in Brasilia, the South Korea president flew to Sao Paulo, the largest city in Brazil, to attend a Korean fashion show and host a business forum, which MOTIE Minister Yoon Sang-jick attended as a key representative.   date2015-04-27

South Korea and Brazil to Seek Bilateral Cooperation

      President Park Geun-hye visited the National Congress of Chile to meet with Patricio Walker, president of the Senate, and Marco Antonio Núñez, president of the Chamber of Deputies, during her state visit to the South American country this week.   The South Korean president left Chile for Brazil yesterday, the final stop on her four-nation tour of Latin America, where she will hold a summit with President Dilma Rousseff later today to discuss ways to promote bilateral cooperation. date2015-04-24

Korea and Chile agree to jointly develop technologies for copper mining

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 23 that Korea and Chile agreed to jointly develop technologies that can be used for copper mining.     Representatives of the Korea Institute of Geoscience and Mineral Resources who are currently touring four South American countries with Korean President Park Geun-hye signed an MOU on joint development of application technologies for low grade copper ores with CODELCO on April 22 at the Sheraton Hotel Santiago, Chil date2015-04-23

South Korea and Chile to Enhance Bilateral Cooperation

        President Park Geun-hye arrived in Chile yesterday, the third stop on her four-nation state tour of Latin America after Colombia and Peru.   The South Korean president received a warm welcome from Chile's President Michelle Bachelet and attended a business forum to promote cooperation between the two countries.   MOTIE Minister Yoon Sang-jick, who is accompanying President Park, attended the signing of a memorandum of understanding (MoU) with his Chilean counterpart Aurora Williams Baussa on copper technology development.   date2015-04-23

South Korea to Strengthen Ties with Colombia and Peru

South Korea to Strengthen Ties with Colombia and Peru   South Korea agreed to strengthen economic cooperation with Colombia and Peru during President Park Geun-hye's state visit to the two South American countries.   During a summit in Colombia, the two countries signed a memorandum of understanding (MoU) on projects for leasing electric car batteries and building self-sufficient towns.   President Park also discussed expanding cooperation with Peru beyond trade to include Li date2015-04-21

Minister Yoon Sang-jick Accompanying the President on Four-Nation State Visit to Latin America

date2015-04-20

South Korea`s President Makes Visit to Four Middle East Nations

date2015-04-06

The TPP Strategy Forum to have in-depth discussions on national interests

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 13 that it organized the TPP Strategy Forum with experts from the industries, universities and research institutes have in-depth discussions on national interest.     The TPP refers to the multilateral FTA between 12 countries in the Pacific Rim including the U.S. and Japan.     Ever since showing interest in participating in the TPP in December 2013, the Korean government has been listening to the opinions of relevant parties while also conducting an in-depth analysis of the effects of the industry and area.     With other countries, Korea has entered bilateral agreements with the 12 countries participating in the TPP in order to review the feasibility of its participation in the TPP.     In principle, the TPP Strategy Forum is held twice a month with the participation of 15 experts from four different areas including economy, industry, politics, diplomacy, trade laws and the respective country. They will also organize a group of experts to be more flexible in having the best experts participate in the discussion.     * Short version date2015-01-13