Ministry of Trade, Industry and Energy

Korea and China hold 1st supply chain hotline meeting

The Ministry of Trade, Industry and Energy (MOTIE) and China’s Ministry of Commerce held the first supply chain hotline meeting and the fourth working-level meeting on the Korea-China industrial cooperation complex on December 18 in Seoul. The meetings were held to push close supply chain cooperation between the two countries through the invigoration of the supply chain hotline as agreed during the commerce ministers’ talks in San Francisco this November and during the fifth Korea-Ch date2023-12-19

MOTIE holds conference for sharing foreign investment regulatory improvement outcomes & future direction

The Ministry of Trade, Industry and Energy (MOTIE) held a conference on December 18 at the Korea Chamber of Commerce and Industry (KCCI), chaired by MOTIE's International Trade & Investment Deputy Minister Kim Wan-ki, to share foreign investment policy trends, regulatory improvement outcomes and discuss the challenges voiced by foreign-invested companies. The conference was attended by approximately 20 persons, consisting of representatives of the Chambers of Commerce of seven countries, in date2023-12-19

Korea and Mongolia launch first official negotiating round for EPA

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 18 that the first round of official negotiations for the Korea-Mongolia Economic Partnership Agreement (EPA) will be held through December 18-20 in Seoul. Ahn Chang-yong, MOTIE’s Director General for FTA Policy, and Batkhuu Idesh, State Secretary of Mongolia’s Ministry of Economy and Development, are each heading their respective delegations composed of a total of approximately 100 members from both countries. date2023-12-18

MOTIE to disclose and receive public opinion on Korea-Ecuador SECA draft

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 17 that the ministry will disclose on the Korean government's Free Trade Agreement (FTA) website (www.fta.go.kr) both the Korean and English draft versions of the Korea-Ecuador Strategic Economic Cooperation Agreement (SECA) from December 18, 2023, to January 6, 2024, on which the ministry will also receive public opinion. Public opinions are to be received in accordance with MOTIE’s rules on procedural regulations f date2023-12-18

Korea and Saudi Arabia follow up on economic summit diplomacy outcomes for cooperation in EVs and bio

Trade, Industry and Energy Minister Bang Moon Kyu met with Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef on December 15 in Seoul to review Korea-Saudi economic summit diplomacy outcomes and discuss follow-up measures. Minister Alkhorayef is the first Saudi high-level official to visit Korea following the state visit made by President Yoon Suk Yeol in October. During the talks between the two industry ministers, Minister Bang affirmed that the implemen date2023-12-18

Korea and Netherlands hold CEO Roundtable

Minister for Trade Dukgeun Ahn attended the Korea-Netherlands CEO Roundtable on December 13 in Amsterdam to discuss measures for stronger cooperation in bilateral industries and economy with Dutch Minister of Economic Affairs and Climate Policy Micky Adriaansens, government officials and representatives of semiconductor, mobility, chemicals and energy businesses of both countries. date2023-12-15

Korea and Netherlands hold business forum & MOU signing ceremony

Minister for Trade Dukgeun Ahn attended the Korea-Netherlands Business Forum on December 13 in Amsterdam and gave an opening address. The event was also attended by Dutch Minister of Economic Affairs and Climate Policy Micky Adriaansens, both countries’ government officials and business leaders. Both sides' delegations also attended the Korea-Netherlands Business Forum MOU signing ceremony for parties’ entering of a technical feasibility study agreement for the Dutch nuclear reactor date2023-12-15

MOTIE holds advanced robotics industrial strategy meeting

Trade, Industry and Energy Minister Bang Moon Kyu chaired the Advanced Robotics Industrial Strategy Meeting on December 14 at Mando NEXT M in Pangyo and presented the “Advanced Robotics Industry Vision and Strategy” that aims to heighten the industry’s productivity, respond to demographic changes and nurture the robotics industry into the nation’s new growth engine. Prior to the meeting, he visited the robotics development R&D center for a trial demonstration and also date2023-12-15

MOTIE announces vision and strategy for advanced robotics industry as new growth engine

Trade, Industry and Energy Minister Bang Moon Kyu chaired the Advanced Robotics Industrial Strategy Meeting on December 14 at Mando NEXT M in Pangyo and presented the “Advanced Robotics Industry Vision and Strategy” that aims to heighten the industry’s productivity, respond to demographic changes and nurture the robotics industry into the nation’s new growth engine. For the advanced robotics industry, the scope of downstream industries is not limited to traditional manuf date2023-12-15

Korea's accumulated auto exports hit record-breaking $64.5 bln in November

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 14 that Korea’s automobile export value for January-November this year in accumulation reached a record-breaking USD 64.5 billion, and the annual automobile export value for 2023 is anticipated to surpass $70 billion for the first time in auto export history. November export value for automobiles also recorded a monthly all-time high of $6.53 billion, surpassing the previous all-time high of $6.50 billion in March th date2023-12-15