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Industry
Korea and U.S. assess bilateral high-tech cooperation as follow-up to state visit
The Republic of Korea’s Trade, Industry and Energy Vice Minister Jang Young-jin chaired the Korea-U.S. High-Tech Cooperation Strategy Assessment Meeting on August 4 (local time) in Dallas, U.S., and discussed detailed measures to seriously push forward with bilateral technology cooperation. During Korean President Yoon Suk Yeol’s state visit to the U.S. in April last year, a total of 23 memorandums of understanding (MOUs) were sealed in areas like advanced industries and clean energ date2023-08-07
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Industry
Korea and U.S. gear up joint industrial technology R&D
The Republic of Korea’s Trade, Industry and Energy Vice Minister Jang Young-jin held a briefing session on Korea-U.S. industrial technology R&D on August 1 (local time) in San Francisco and conveyed the Korean government’s stance on international cooperation in advanced technologies, then discussed practical measures for Korea-U.S. technology collaboration. Over 130 researchers attended in person or online and showed interest in Korea’s public-led invigoration of internati date2023-08-04
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Trade/Investment
Minister Lee discusses trade bolstering measures with U.S.' Ways & Means Committee
The Republic of Korea’s Trade, Industry and Energy Minister Lee Chang-yang and Minister for Trade Dukgeun Ahn met with the House Committee on Ways and Means, led by Congressman Jason Smith, on July 31 in Seoul to discuss the U.S. Inflation Reduction Act (IRA), CHIPS and Science Act, energy cooperation and other Korea-U.S. industrial and trade issues. date2023-08-04
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Trade/Investment
Minister Lee discusses trade bolstering measures with U.S.' Ways & Means Committee
The Republic of Korea's Trade, Industry and Energy Minister Lee Chang-yang met with the U.S. House group Ways & Means Committee headed by Chair Jason Smith on July 31 in Seoul to discuss the Inflation Reduction Act (IRA), CHIPS and Science Act, and other bilateral issues in energy, industrial and trade cooperation. A bipartisan group in charge of U.S. taxation, supply chain, free trade agreements (FTAs) and other trade policies, the Ways & Means Committee visited Korea to discuss measur date2023-08-03
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FTA/Economic Cooperation
Korea and Japan accelerate business exchange following presidential visit
Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-Japan Business Conference Dinner on July 28 at the Lotte Hotel Seoul to discuss measures for invigorating economic exchange and cooperation between major Korean and Japanese business leaders. Minister Lee Chang-yang said in his congratulatory remarks, 'The Korea-Japan relationship has been fully restored with four Korea-Japan summits held in just four months after the presidential visit to Japan in March.' He encourag date2023-08-03
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FTA/Economic Cooperation
Korea and Japan accelerate business exchange following presidential visit
With the revival of “shuttle diplomacy” between Korea and Japan after a 12-year hiatus, coupled with the full resolution of export control issues which lingered for four years, there has been significant acceleration in the exchanges and collaborations among business leaders from both countries. This boost in interactions aims to execute measures agreed upon during the summit and expand mutual business cooperation. Representatives from the Japan Association of Corporate Executives, date2023-08-03
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Trade/Investment
Korea's July exports record trade surplus for 2nd successive month
The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced on August 1 that Korea’s exports in July declined 16.5 percent year-on-year to USD 50.3 billion and imports fell 25.4 percent to $48.7 billion, resulting in a trade surplus of $1.6 billion. July exports were negatively impacted by the slowdown of the semiconductor industry, petrochemicals and petroleum products’ unit price falls from oil price falls, and the high base effect from last year’s date2023-08-01
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Energy
Minister chairs New Energy Industry Export Momentum Roundtable meeting
The Republic of Korea’s Ministry of Trade, Industry and Energy Minister Lee Chang-yang held a roundtable meeting on the new energy industry export strategy at the Korea Chamber of Commerce and Industry (KCCI) on July 27 to discuss measures to utilize recent opportunities for overseas expansion, such as cooperation on small modular reactors (SMRs), building clean hydrogen supply chains, and reconstruction projects in Ukraine. Minister Lee chaired the roundtable, held the launching ceremo date2023-07-31
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Energy
Korea to double new energy industry exports by 2030
The Republic of Korea’s Ministry of Trade, Industry and Energy Minister Lee Chang-yang held a roundtable meeting on the new energy industry export strategy at the Korea Chamber of Commerce and Industry (KCCI) on July 27 with representatives from the industry, finance, academia, and related agencies. The meeting was designed to utilize recent opportunities for overseas expansion, such as cooperation on small modular reactors (SMRs), building clean hydrogen supply chains, and reconstruction date2023-07-31
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Energy
Korea seeking to become Asia Pacific offshore wind power hub
The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE)’s Energy Industry Deputy Minister Cheon Young-gil chaired the Offshore Wind Power Supply Chain Conference on July 27 at Korea Productivity Center (KPC) to seek measures to promote Korean companies’ products and technologies in the global offshore wind power market. The conference was held in view of recent policy environment changes, including leading global offshore wind power companies’ decision to date2023-07-31