Ministry of Trade, Industry and Energy

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

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