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Trade/Investment
Korea and Israel kick smart mobility cooperation into high gear
The Ministry of Trade, Industry and Energy (MOTIE) held the Korea-Israel Innovation Day with the Israel Innovation Authority in Tel Aviv on March 21 with representatives from both countries’ industry, academia and R&D there to further bolster smart mobility technology cooperation. Korea and Israel have joint investments adding up to approximately USD 77 million, and 196 international joint R&D projects. This year, the two countries will focus on smart mobility, a rapidly growing date2023-03-24
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Industry
MOTIE announces U.S.' proposed rule for CHIPS Incentives Program
The Ministry of Trade, Industry and Energy (MOTIE) announced on March 21 the U.S. Department of Commerce (DOC)’s release of the proposed rule for guardrails included in the CHIPS Incentives Program under the CHIPS and Science Act (Creating Helpful Incentives to Produce Semiconductors and Science Act of 2022), limiting recipients of funding from investing in the expansion of semiconductor production capacity in “foreign countries of concern (China, North Korea, Russia, Iran)”. date2023-03-24
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Trade/Investment
Trade Minister discusses measures to expand exports to Japan
Minister for Trade Dukgeun Ahn presided a conference with Korean companies exporting to Japan at the Korea World Trade Center (COEX) in Seoul on March 22 to discuss measures to expand exports to Japan and gather industry opinions. Prior to the conference, Trade Minister Ahn visited the KTOWN4U store at COEX, a complex cultural space run by KTOWN4U, the world-leading K-pop online goods store, and listened to a briefing on company management and challenges from CEO Song Hyo-min and discus date2023-03-23
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Trade/Investment
Trade Minister holds trade assessment meeting
Minister for Trade Dukgeun Ahn held a trade assessment meeting on March 21 at the KSURE headquarters in Seoul to discuss impact on domestic industries’ exports from recent bankruptcy filing of Silicon Valley Bank Financial Group and Credit Suisse liquidity crisis, as well as global energy market trends. Trade Minister Ahn gave an opening message and led discussions on export situation per major destination, global energy market forecast and measures to invigorate exports per secto date2023-03-22
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Trade/Investment
Trade Minister attends Korea-Africa Trade & Industry Cooperation Forum 2023
Minister for Trade Dukgeun Ahn attended the Korea-Africa Trade and Industry Cooperation Forum 2023 on March 20 at the Plaza Hotel Seoul, hosted by the Ministry of Trade, Industry and Energy (MOTIE) and organized by the Korea Plant Industries Association (KPIA). Trade Minister Ahn gave an opening message at the Forum, which was held to seek measures to expand Korea-Africa trade and investment in response to a new trade environment, and have representatives of the Government, institutions date2023-03-22
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Trade/Investment
Trade Minister attends Korea-Africa Trade & Industry Cooperation Forum 2023
Minister for Trade Dukgeun Ahn attended the Korea-Africa Trade and Industry Cooperation Forum 2023 (hereinafter “Forum”) on March 20 at the Plaza Hotel Seoul, hosted by the Ministry of Trade, Industry and Energy (MOTIE) and organized by the Korea Plant Industries Association (KOPIA). The Forum was held to seek measures to expand Korea-Africa trade and investment in response to a new trade environment, and have representatives of the Government, institutions and companies gathered in date2023-03-22
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Trade/Investment
Korea's auto exports hit all-time highs in February
The Ministry of Trade, Industry and Energy announced on March 20 that Korea’s automobile industry in February achieved double digit growth in production, domestic sales and exports year-on-year. The monthly export value for February hit an all-time high of USD 5.6 billion. Car parts also rose 13.3 percent in export value to $2.0 billion as shipments increased to North America and the EU. Automobiles and car parts combined ($7.6 billion) now make up the largest chunk of Korea’s expor date2023-03-21
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Trade/Investment
Korea and UAE seal 6 agreements & MOUs in defense, energy & new industries
Minister for Trade Dukgeun Ahn attended the “Korea-UAE Business Roundtable” and memorandum of understanding (MOU) signing ceremony held at the InterContinental Abu Dhabi on March 16 as follow-up to the January economic summit diplomacy outcomes. On the occasion of Trade Minister Ahn’s visit to the United Arab Emirates (UAE), the Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) held the Korea-UAE business consultation sessio date2023-03-21
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Trade/Investment
Trade Minister attends Korea-UAE Business Roundtable
Minister for Trade Dukgeun Ahn attended the Korea-UAE Business Roundtable held on March 16 at the InterContinental Abu Dhabi for the MOU signing ceremony and toured the business consultation booths. The Roundtable was attended by both countries’ companies and relevant organizations, including Korea Plant Industries Association (KPIA), Korea International Trade Association (KITA), UAE Ministry of Industry and Advanced Technology and Ministry of Energy and Infrastructure. date2023-03-20
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Trade/Investment
Korea and UAE follow up on summit diplomacy outcomes
Minister for Trade Dukgeun Ahn visited the United Arab Emirates (UAE) through March 15-16 and met with UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi and Minister of Energy and Infrastructure Suhail Mohamed Al Mazrouei to follow up on the economic summit diplomacy outcomes between the two countries. With UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, he discussed new trade cooperation agendas like bio, digital and continuing the contract for date2023-03-20