Ministry of Trade, Industry and Energy

MOTIE and MOEF co-host MDB Project Plaza 2023

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Economy and Finance (MOEF) are co-hosting Multilateral Development Bank (MDB) Project Plaza 2023 from November 28-29 at the JW Marriott Seoul. MDB Project Plaza is an event for promoting Korean firms to MDBs and other countries’ project clients to support Korean firms’ bid winning in the MDB procurement market estimated around USD 40 billion as of 2022. During the MDB Project Forum held on the first day of MDB P date2023-11-28

Korea's retail industry grows 6.4% in October

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 28 that Korea’s retail sales for October gained an overall growth of 6.4 percent year-on-year. Offline sales posted a slower 0.5 percent growth as more and more purchases of daily necessities are shifting to online, and sales of hypermarkets and department stores decreased. Online sales jumped 12.6 percent as bulk economy-size purchases grew and items related to outdoor autumn season activities and travel packages a date2023-11-28

"Korea One Team" making final pitch for World Expo 2030 Busan

Prime Minister Han Duck-soo is leading Korea’s last efforts for making the final pitch for World Expo 2030 Busan with only hours remaining until the vote is held to select the winner of the bid to host World Expo 2030. Composed of high-level government officials, Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won and other major business magnates, the Korean delegation (“Korea One Team”) in Paris will be putting in the utmost effort for promoting Busan as the date2023-11-28

Korean delegation departs to Paris for final vote on World Expo 2030 host winner

The Korean delegation for the 173rd General Assembly of the Bureau International des Expositions (BIE), led by Prime Minister Han Duck-soo, departed for Paris on November 26 to participate in the final election of the winner to host World Expo 2030. Trade, Industry and Energy Minister Bang Moon Kyu, Foreign Affairs Vice Minister Oh Youngju, and the Prime Minister’s Chief of Staff Park Seung-keun are accompanying the Prime Minister. During the 173rd BIE General Assembly on November 28, th date2023-11-27

Korea and Brazil hold 1st TIPF Committee meeting

Minister for Trade Dukgeun Ahn held the first Korea-Brazil Trade and Investment Promotion Framework (TIPF) Committee meeting with Brazil’s Vice Minister of Development, Industry, Trade and Services Márcio Elias Rosa on November 24 at Four Seasons Hotel Seoul to uncover new joint projects for industrial, trade and energy cooperation and to support corporate investment and mutual market entry. date2023-11-27

Korea and Brazil hold TIPF agreement signing ceremony

Minister for Trade Dukgeun Ahn signed the Korea-Brazil Trade and Investment Promotion Framework (TIPF) agreement with Brazil’s Vice Minister of Development, Industry, Trade and Services Márcio Elias Rosa on November 24 at Four Seasons Hotel Seoul. date2023-11-25

MOTIE and UK's Department for Science, Innovation and Technology enter MOU

Minister Bang Moon Kyu attended the MOU signing ceremony on November 22 in London with UK’s Secretary of State for Science, Innovation and Technology Michelle Donelan for bilateral cooperation in the semiconductor industry between MOTIE and the UK’s Department for Science, Innovation and Technology. date2023-11-25

MOTIE and UK’s Department for Business and Trade enter MOU for starting FTA upgrade negotiations

Minister Bang Moon Kyu attended the MOU signing ceremony between MOTIE and UK’s Department for Business and Trade on November 22 in London with Department’s Secretary of State Kemi Badenoch to sign the MOU on the joint declaration for the launch of Korea-UK FTA upgrade negotiations. date2023-11-25

MOTIE & UK’s Department for Energy Security and Net Zero enter MOU

Minister Bang Moon Kyu attended the MOU signing ceremony for the ministry’s entering the Clean Energy Partnership with UK’s Department for Energy Security and Net Zero on November 22 in London with the Department’s Secretary of State Claire Coutinho for bilateral cooperation in clean energy, offshore wind power and nuclear power development. date2023-11-25

Minister attends investment declaration ceremony in London

Trade, Industry and Energy Minister Bang Moon Kyu attended the investment declaration ceremony on November 22 in London with Corio Generation CEO Jonathan Cole and BP Senior Vice President Louise Kingham and received the two UK firms’ declarations of investment in Korea. The Minister remarked in his message that the investment indicates that carbon neutrality cooperation with net zero leading UK is strengthening, and I look forward to seeing it bolster Korea’s promising offshore win date2023-11-25