Ministry of Trade, Industry and Energy

Deputy Minister attends ceremony for signing of Protocol for Guatemala's accession to Korea-Central America FTA

Deputy Minister for FTA Negotiations Roh Keon-ki of the Ministry of Trade, Industry and Energy (MOTIE) headed the Korean delegation in the formal signing of the Protocol for the Accession of Guatemala to the Free Trade Agreement (FTA) between Korea and five Central American countries on January 8 (local time) in Guatemala with six Central American countries’ delegates, including Guatemala’s Foreign Affairs Minister Mario Búcaro Flores, in the attendance of the Guatemalan Presi date2024-01-09

Guatemala joins Korea-Central America FTA

Deputy Minister for FTA Negotiations Roh Keon-ki of the Ministry of Trade, Industry and Energy (MOTIE) headed the Korean delegation in the formal signing of the Protocol for the Accession of Guatemala to the Free Trade Agreement (FTA) between Korea and five Central American countries on January 8 (local time) in Guatemala with six Central American countries’ delegates, including Guatemala’s Foreign Affairs Minister Mario Búcaro Flores, in the attendance of the Guatemalan Presi date2024-01-09

Korea surpasses initial $30 bln target for plant project orders in 2023

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 8 that Korea won a total of USD 30.2 billion worth of plant project orders in 2023, surpassing the initial target of $30 billion (up 25.0 percent than the $24.2 billion won in 2022) and the highest ever in eight years since winning $36.5 billion in 2015. The target was reached on December 29 with the sealing of the $1.5 billion LNG liquefaction plant order. The overall outcome is attributable to the economic summit diplomac date2024-01-08

Largest integrated Korean exhibition to be showcased at CES 2024

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 8 that an all-time high of 443 Korean firms will be participating in the Consumer Electrics Show (CES) 2024 through January 9-12 in Las Vegas, U.S., ranking Korea as one of the largest exhibitors at the world’s biggest tech trade show, showcasing a variety of advancements in information and communications technology (ICT) and home appliances. This year’s CES theme is “All Together, All On”, signifyin date2024-01-08

Minister pays his first official visit to an auto yard

Trade, Industry and Energy Minister Dukgeun Ahn visited the Kia Motors yard in Pyeongtaek Port on January 5. The Minister met Kia Motors CEO Jun-young Choi to discuss the status and challenges of automobile exports, after which he visited an export vessel including its bridge and other key facilities and shared words of encouragement with on-site staff. date2024-01-05

Minister Ahn makes first official visit to auto yard after taking post

Minister of Trade, Industry and Energy Dukgeun Ahn visited Pyeongtaek Port, which has been Korea's largest port for auto exports for over 14 years (as of 2023). During his first official outing, he talked with exporters to get a better understanding of their challenges before boarding the GlOVIS SKY to see the cars to be exported. He also went a nearby coffee truck and personally served the coffee to on-site employees as a gesture of encouragement. During the visit, Minister Ahn emphasized the date2024-01-05

FDI pledges to Korea in 2023 reach an all-time high of $32.7 billion

The Ministry of Trade, Industry and Energy announced on January 3 that the annual foreign direct investment (FDI) pledges reached a new high in 2023 at USD 32.7 billion, marking a 7.5 percent growth from the previous year. The FDIs that actually arrived in Korea over the same period grew by 3.4 percent growth from the previous year to $18.8 billion, also setting a new record. Korea achieved these records despite the poor global FDI performance in 2023 thanks to heavy investments in high tech in date2024-01-05

Minister Chooses Airport Cargo as His First Site Visit for 2024

Trade, Industry and Energy Minister Bang Moon Kyu went to Korean Air’s Cargo Terminal 1 of Incheon International Airport as his first official site visit for 2024. Minister Bang was briefed on the current status of export logistics and operational challenges by Jeon Hyoung-wook, Vice President of Incheon International Airport Corporation, and Yoo Jong-seok, Vice President of Korean Air, before moving on to inspect the loading platform where export goods such as semiconductor devices are date2024-01-02

Korea's exports grow 5.1% in December

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 1 that Korea’s export value for the month of December advanced 5.1 percent year-on-year to this year’s monthly highest of USD 57.7 billion. Imports shrank 10.8 percent to $53.2 billion, and the trade balance stood at a surplus of $4.5 billion. By item, semiconductor exports leaped 21.8 percent and grew for the second consecutive month, reaching the highest for this year at $11.0 billion and continuing the recove date2024-01-02

Korea advances and diversifies trade network

Amid the global rise of protectionism, supply chain disruptions and other rapid shifts in the global trade environment, the Ministry of Trade, Industry and Energy (MOTIE) has been active in advancing and diversifying the trade network for expanding the export market and stabilizing the supply chain. To note, MOTIE strengthened Korea’s economic security by concluding three agreements in the Supply Chain, Clean Economy and Fair Economy Pillars in just one year and a half following the launc date2023-12-28