Ministry of Trade, Industry and Energy

Vice Minister Greets Ghanaian Delegation

Vice Minister for Industry and Technology Yoon Sang-Jick speaks with Ghana Investment Promotion Center Chief Executive Officer George Aboagye on May 27 in the Gwacheon Government Complex, south of Seoul. The discussion touched on bilateral partnerships concerning trade, investment, energy and infrastructure. date2011-05-31

Minister Plans Korea’s Role in Indonesia’s Economic Development

Minister of Knowledge Economy Choi Joong-Kyung traveled to Bali last week to discuss bilateral economic ties. Indonesia is moving forward with the “Master Plan on the Acceleration and Expansion of Indonesian Economic Development,” an initiative to advance its economy with Korea as a close partner. The visit was a follow-up to a meeting between the national leaders of both countries, which took place in December. Government officials and business leaders from the two countries gathered for the first meeting of a new joint working-level task force to discuss promising areas for cooperation and plan joint projects. The meeting focused on seven sectors that feature prominently in Indonesia’s Master Plan: trade and investment, industry, energy and resources, construction and infrastructure, agriculture and fisheries, defense, and finance. The two countries signed nine memorandums of understanding in such areas as hydroelectricity, photovoltaic energy, shipbuilding, textile machinery and industrial technology transfer. An intergovernmental MOU outlines how the two sides will work together to implement Indonesia’s Master Plan. Minister Choi said the MOUs were the first step toward the realization of the two national leaders’ forward-looking vision. Minister Choi proposed what he called a “two-track approach” to the Master Plan—one for policymakers and the other for businesses. “Koreans are known for a ‘cepat cepat’ culture—it’s in our blood to do things well and fast,” the Minister said. “We will take this ‘cepat cepat’ approach to make Indonesia the economic powerhouse in this region and beyond.” In the Indonesian language, the word “cepat” means “fast.” For details on the Minister’s two-track approach, please see the full text of the speech dated May 23. Minister Choi also had a separate meeting with Coordinating Minister for Economic Affairs Hatta Rajasa. On the following day, the Minister traveled to Jakarta to visit President Susilo Bambang Yudhoyono.   * Released by the Indonesia Division date2011-05-25

Minister Speaks with Indonesian Coordinating Minister for Economic Affairs

Minister of Knowledge Economy Choi Joong-Kyung meets with Indonesian Coordinating Minister for Economic Affairs Hatta Rajasa (second from right) on May 18 in Bali. The two officials discussed economic partnerships, with particular emphasis on the Master Plan on the Acceleration and Expansion of Indonesian Economic Development. date2011-05-24

Minister Visits Indonesian President

Minister of Knowledge Economy Choi Joong-Kyung speaks with Indonesian President Susilo Bambang Yudhoyono on May 19 in Jakarta. Minister Choi requested the Indonesian President’s continued interest in economic cooperation between the two countries. date2011-05-24

Minister Welcomes Vietnamese Deputy Minister

Minister Welcomes Vietnamese Deputy Minister Minister of Knowledge Economy Choi Joong-Kyung meets with Vietnamese Deputy Minister of Industry and Trade Ho Thi Kim Thoa on May 5 in Seoul. Their discussion focused on cooperation on energy, industrial technology, and the construction of nuclear power plants date2011-05-17

Vice Minister Speaks with EU Climate Action Commissioner

Vice Minister Speaks with EU Climate Action Commissioner Vice Minister for Industry and Technology Ahn Hyunho greets EU Climate Action Commissioner Connie Hedegaard on May 2 in Seoul. Their discussion touched on climate change, green growth, and the Korea-EU Free Trade Agreement. date2011-05-12

Vice Minister for Trade and Energy Travels to Latin America to Forge Stronger Economic Partnerships

Vice Minister for Trade and Energy Park Young June traveled to Latin America last week to strengthen Korea’s ties with Mexico, Colombia, Venezuela and Peru. The Korean delegation included representatives of public organizations and private businesses. The 10-day trip was a chance to review the progress of many joint projects and to discuss additional areas for cooperation. In Mexico, the first destination on the Vice Minister’s itinerary, an energy meeting resulted in two memorandums of understanding—notably, one concerned rare metals. These are 35 elements in the periodic table. They are needed to manufacture products as diverse as wind turbines, car batteries and video cameras. Vice Minister Park also met with Mexican General Coordinator of Mining Maria Jimena Valverde Valdes. The two officials discussed mutually beneficial partnerships to make both sides more competitive in the global mineral market. When Vice Minister Park met with his Mexican counterpart, Vice Minister of Energy Mario Gabriel Budebo, discussions focused on the development of oil and gas fields, nuclear energy, energy conservation, public infrastructure and alternative fuel technologies. In particular, Vice Minister Park proposed a training program for nuclear experts that will be tailored to suit Mexico’s needs.   * Released by the Mineral Resources Division date2011-05-09

Korea, Russia Take Substantial Step Forward With MOU on Industrial Cooperation

Korea, Russia Take Substantial Step Forward With MOU on Industrial Cooperation Russian Minister of Industry and Trade Viktor Khristenko traveled to Seoul to meet with Minister of Knowledge Economy Choi Joong-Kyung and sign a memorandum of understanding that will cement the strategic partnership between the two nations. The MOU addresses three main areas: industrial technology, technology standards, and trade and investment. With the shared goal of attracting private investment in the commercial date2011-05-02

Korea, Latin American Partners Pursue Closer Economic Cooperation

Vice Minister for Trade and Energy Park Young June (sixth from left, first row) stands with representatives of local companies and ambassadors from 15 Latin American countries at an economic partnership meeting held April 19 in Seoul. date2011-04-29

Minister Greets Spanish Ambassador to Korea

Minister of Knowledge Economy Choi Joong-Kyung meets with Spanish Ambassador to Korea Luis Arias Romero on April 18 in Seoul. The two officials discussed bilateral economic ties and cooperation on renewable energy. date2011-04-26