Ministry of Trade, Industry and Energy

Korea and EU hold 1st Industrial Supply Chain Policy Dialogue meeting

Trade, Industry and Energy Vice Minister Youngjin Jang and Kerstin Jorna, Director General of the European Commission’s Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW), held the first Korea-EU Industrial Supply Chain Policy Dialogue meeting on December 5 via videoconferencing, as follow-up to the agreement made in May on the occasion of the Korea-EU summit to expand the Korea-EU Industrial Policy Dialogue, launched in 2013, to cover cooperation in the date2023-12-05

Korea and China hold 5th bilateral FTA Joint Committee Meeting

Minister for Trade Dukgeun Ahn led the Korean delegation in the fifth Korea-China Free Trade Agreement (FTA) Joint Committee meeting on December 4 in Beijing to discuss measures for expanding bilateral cooperation in economy, service industries and supply chain with International Trade Representative Wang Shouwen, who led the Chinese delegation. date2023-12-05

Minister holds luncheon conference with Japan's METI Minister

Trade, Industry and Energy Minister Bang Moon Kyu and Japan’s Economy, Trade and Industry Minister Nishimura Yasutoshi held a luncheon conference prior to attending the 17th MOTIE-METI soccer exchange game on December 2 in Osaka, Japan, and shared views on measures for the two countries’ industrial, trade and energy cooperation. date2023-12-05

Vice Minister attends NetZero Nuclear Initiative support declaration ceremony

Trade, Industry and Energy Vice Minister Kang Kyungsung attended the ceremony for declaring support for the NetZero Nuclear Initiative on December 2 in Dubai, UAE, along with other countries' representatives, including those from the U.S., France, the UK, UAE, Sweden, Poland, Czech Republic and Romania, and gave a message expressing support for the NetZero Nuclear Initiative. date2023-12-05

Korea and China to strengthen service and supply chain cooperation through FTA

Minister for Trade Dukgeun Ahn led the Korean delegation in the fifth Korea-China Free Trade Agreement (FTA) Joint Committee meeting on December 4 in Beijing to discuss measures for expanding bilateral economic cooperation. The Chinese delegation was headed by International Trade Representative Wang Shouwen. With this year marking the ninth year since the FTA entered into force, Korea and China are seeing their bilateral trade volume increase 36.5 percent year-on-year in 2023. In commemoration date2023-12-04

Korea expands catered support for foreign investment in advanced industries

The Ministry of Trade, Industry and Energy (MOTIE) held the 113rd Foreign Investment Committee meeting to deliberate and vote on the revised bills of the Operation Guidelines for the Cash Grant System and the Guidelines for Operation of Foreign Investment Zones, which aim to expand foreign investment in advanced industries. The bills went into effect on December 3. First, with the revision of the Operation Guidelines for the Cash Grant System, foreign investment in advanced industries will be r date2023-12-04

Korea among 22 nations to declare support for the NetZero Nuclear Initiative

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 3 that 22 countries around the world, including Korea, the U.S., France, the UK and Sweden, have adopted the declaration on supporting the NetZero Nuclear Initiative. The NetZero Nuclear Initiative is a global climate agenda established for resolving climate crises by recognizing nuclear energy as clean energy, drawing international commitment on expanding the global nuclear power capacity three-fold by 2050, and spurring date2023-12-04

MOTIE and Japan's METI kick bilateral exchange into high gear

The Ministry of Trade, Industry and Energy (MOTIE) and Japan’s Ministry of Economy, Trade and Industry (METI) kicked bilateral exchanges into high gear by breaking the five-year hiatus of their respective soccer clubs’ joint activities on December 2 by resuming the exchange game in Osaka, Japan. MOTIE Minister Bang Moon Kyu and METI Minister Nishimura Yasutoshi both attended the sports exchange, and the two leaders held a luncheon conference that day to express commitment on invigo date2023-12-04

Vice Minister meets with promising nuclear energy project partners on sidelines of UNFCCC COP28

Trade, Industry and Energy Vice Minister Kang Kyungsung met with potential nuclear energy partner countries on the sidelines of the United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP28) through December 1-2 to discuss prospects for nuclear reactor projects and requested their participation in Korea’s carbon-free energy (CFE) initiatives. Vice Minister Kang first met with Ditte Juul Jørgensen, Director-General for Energy at the European Com date2023-12-04

Korea seeks measures for development and economic cooperation through EPAs

The Ministry of Trade, Industry and Energy (MOTIE) held the “4th New FTA Strategy Forum” on December 1 together with the Korean Association of Trade and Industry Studies (KATIS) to develop negotiation strategies for Economic Partnership Agreements (EPA) currently being pushed by the Korean government with other countries. An EPA is a trade agreement focusing on strengthening global trade solidarities, enhancing supply chain resiliency for resources like critical minerals and promoti date2023-12-04