Ministry of Trade, Industry and Energy

Korea, Peru Enhancing Cooperation on Industry, Energy and Trade

Minister of Knowledge Economy Sukwoo HONG and visiting Peruvian Minister of Foreign Commerce and Tourism José Luis Silva Martinot met last week to concretize the comprehensive strategic partnership the two countries announced on May 10 at the presidential Summit. The two Ministers signed a memorandum of understanding, under which Korea will support Peru in establishing a paperless trade system. They also affirmed their intention to utilize the Korea-Peru FTA (which took effect on August 1, 2011) to expand the scope of cooperation on trade and investment. Their discussion also touched on the purchase of Korean-made patrol cars for police departments in Peru; the upcoming construction of a hydroelectric power plant in Peru’s Molloco region, in which Korean companies have agreed to participate; and plans for an industrial cooperation committee to explore promising joint projects in both countries. The committee is set to launch in the second half of the year. * Released by the Americas Division date2012-05-17

Vice Minister Meets With Australian Climate Minister

Vice Minister Meets With Australian Climate Minister Vice Minister for Industry and Technology Yoon Sang-Jick meets with Australian Minister for Climate Change and Energy Efficiency Greg Combet on April 27 in Seoul. The two officials discussed how to reduce greenhouse gas emissions and strengthen industrial cooperation. date2012-05-04

Minister Greets Kazakhstani Ambassador

Minister Greets Kazakhstani Ambassador Minister of Knowledge Economy Sukwoo HONG speaks with Kazakhstani Ambassador Dulat Bakishev on May 3 in Gwacheon. The two officials exchanged views on trade, investment and industrial cooperation. date2012-05-04

Forum Nurtures Closer Economic Ties With China

Minister of Knowledge Economy Sukwoo HONG addresses Chinese experts in Seoul on April 17 at a forum to discuss the future direction of industrial cooperation between Korea and China and celebrate the 20th anniversary of diplomatic ties. The forum drew approximately 550 business leaders and economists, as well as Chinese Ambassador Zhang Xinsen and Chairman Zeng Peiyan of the China Center for International Economic Exchanges (CCIEE). date2012-04-26

Vice Minister Greets Kuwaiti Ambassador

Vice Minister for Trade and Energy Cho Seok meets with Kuwaiti Ambassador to Korea Muteb Al-Mutoteh on April 3 in the Gwacheon Government Complex. The two officials exchanged views on bilateral economic ties. date2012-04-17

Minister, Middle Eastern Ambassadors Promote Cooperation at Seoul Forum

Minister of Knowledge Economy Sukwoo HONG stands with the ambassadors of 10 Middle Eastern countries and some Korean business leaders on March 29 in Seoul. The group gathered at the Lotte Hotel for the Korea-Middle East Economic Cooperation Forum. date2012-04-13

Korea, Myanmar Strengthen Economic Ties

Minister of Knowledge Economy Sukwoo HONG met his Myanmarese counterpart, Minister of Industry Soe Thane, on March 21 in Seoul. The two ministers discussed ways to expand the scope of bilateral economic cooperation. date2012-04-09

Vice Minister Visits Iraq

Vice Minister Visits Iraq Vice Minister for Trade and Energy Cho Seok meets with his Iraqi counterpart, Deputy Prime Minister for Energy Hussain Al-Shahristani, on March 16 in Baghdad to discuss energy cooperation. date2012-03-21

Minister Pursues Closer Ties With Southeast Asian Partners

During the visit, Minister HONG and his Indonesian counterpart, Coordinating Minister for Economic Affairs Hatta Rajasa, presided over the first meeting of the Korea-Indonesia Economic Cooperation Committee. Previously, Korea had agreed to be Indonesia’s major partner in the implementation of the Master Plan for the Acceleration and Expansion of Indonesia’s Economic Development Through 2025 (MP3EI). The Joint Committee was established to facilitate that partnership, which will involve cooperation on large-scale projects concerning steel, energy, infrastructure, agriculture and the environment. At the meeting, both countries agreed to set up a consultative body to discuss financing for the projects. They also launched a Joint Secretariat—which consists of government officials from each country responsible for the different cooperation sectors—to more effectively coordinate the implementation of Indonesia’s Master Plan. Prior to the visit to Indonesia, the Minister went to Malaysia for a two-day visit to enhance bilateral cooperation on energy and trade. Minister HONG and his Malaysian counterpart, Minister of Energy, Green Technology and Water Dato Sri Peter Chin Fah Kui, discussed green technology, oil and LNG. During a separate meeting with Minister of International Trade and Industry Dato Sri Mustapa bin Mohamed, Minister HONG agreed to establish a long-term cooperation plan to reinforce trade and investment ties between the two countries. * Released by the Southeast Asia and Oceania Division; the Components and Materials Division; the Mineral Resources Development Team; and the Nuclear Power Plant Cooperation Division date2012-03-06

Korea, Sri Lanka Enhance Energy Ties

Korea, Sri Lanka Enhance Energy Ties Vice Minister for Trade and Energy Cho Seok greets Sri Lankan Minister of Power and Energy Patali Champika Ranawaka on February 14 at the Lotte Hotel in Seoul. The two officials discussed the bilateral energy partnership. date2012-02-23