Ministry of Trade, Industry and Energy

Korea and Vietnam bolster cooperation on trade remedies

The Korea Trade Commission of the Ministry of Trade, Industry, and Energy (MOTIE) held a joint session for the Korea-Vietnam Trade Remedy Cooperation Meeting and the FTA Trade Remedies Implementation Committee Meeting with the Vietnamese Trade Remedies Authority on November 22 in Quang Ninh, Vietnam. The two countries' trade authorities examined ongoing matters concerning reciprocal import controls and discussed recent investigation and response cases involving third countries. They also d date2023-11-23

UK-based clean energy companies pledge $1.2 bln investment in Korea

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 22 that on the occasion of President Yoon Suk Yeol’s state visit to the UK, two UK energy firms, namely Corio Generation and BP, confirmed their pledge of investment worth KRW 1.5 trillion (app. USD 1.2 billion) and submitted their investment declarations on November 22 (local time). Corio Generation is a UK-based company specializing in offshore wind power development created by Macquarie's Green Investment Group (G date2023-11-23

Korea and UK bolster nuclear energy cooperation on occasion of state visit

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 21 that a total of nine MOUs are to be sealed between Korea and the UK on the occasion of President Yoon Suk Yeol’s state visit to the UK. Korea’s strengths in nuclear reactor construction and manufacturing of equipment and materials, combined with the UK’s competitiveness in nuclear decommissioning and nuclear fuel, are viewed to create meaningful synergy. MOTIE’s Minister Bang Moon Kyu and the UK date2023-11-22

Korea and UK to join hands for Clean Energy Partnership

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 21 that on the occasion of President Yoon Suk Yeol’s state visit to the UK from November 20-23, MOTIE and the UK’s Department for Energy Security and Net Zero will be entering a Clean Energy Partnership. Through the Clean Energy Partnership, the two countries will be reaffirming their consensus on the initiatives of the Carbon Free (CF) Alliance, expanding technology collaboration in clean energy and installing date2023-11-22

Korea and UK take economic cooperation to new heights, marking 140 years of diplomatic relations

Trade, Industry and Energy Minister Bang Moon Kyu will be attending the Korea-UK Business Forum on November 22, co-hosted by the Federation of Korean Industries and the UK’s Department for Business and Trade on the occasion of Korean President Yoon Suk Yeol’s state visit to the UK. Approximately 200 persons will be attending the forum, consisting of Korea’s economic delegation members and both countries’ business leaders, to discuss cooperation in advanced industries, e date2023-11-22

Korea and UK to launch negotiations for upgrading bilateral FTA

Trade, Industry and Energy Minister Bang Moon Kyu and the UK’s Secretary of State for Business and Trade Kemi Badenoch will be signing on November 22 the joint declaration on the launch of negotiations for upgrading the Korea-UK free trade agreement (FTA) on the occasion of the Korean President Yoon Suk Yeol’s state visit to the UK. The existing Korea-UK FTA was the first FTA the UK entered with an Asia country during Brexit and contributed to swiftly resolving uncertainties that ex date2023-11-22

Korea holds Foreign Company Day 2023

The Trade, Industry and Energy Ministry’s International Trade and Investment Deputy Minister Kim Wan-ki attended Foreign Company Day 2023 on November 21 in Seoul to award foreign investment contributors government commendations and promote exchanges and communication with foreign-invested companies. The deputy minister gave a congratulatory message and awarded medals and orders of merit to those that contributed to facilitating foreign investment in Korea, including the Silver Tower Order date2023-11-22

Korea and Mongolia launch Rare Metals Cooperation Center

Trade, Industry and Energy Ministry’s Deputy Minister for Energy Policy Lee Ho-hyeon attended the Korea-Mongolia Rare Metals Cooperation Center launching ceremony on November 20 in Ulaanbaatar and stated in his message that he looks forward to seeing this project assist Mongolia in achieving high-value enhancement of its rare metals, while helping Korea strengthen its domestic supply chain. date2023-11-21

Korean businesses embark on new chapter of expansion into Latin American market

The Ministry of Trade, Industry, and Energy (MOTIE) held the 27th Korea-Latin America Business Forum in Seoul, on November 20, to support the expansion of Korean enterprises into the Latin American market. Co-hosted by MOTIE, the Korea International Trade Association (KITA), the Korea Institute for International Economic Policy (KIEP), the Korean Council on Latin America & the Caribbean, and the International Construction Association of Korea, the event was attended by diplomatic delegations date2023-11-21

Korea and Mongolia hold 1st Rare Metals Cooperation Committee meeting

Trade, Industry and Energy Ministry’s Deputy Minister for Energy Policy Lee Ho-hyeon attended the 1st Korea-Mongolia Rare Metals Cooperation Committee meeting on November 20 in Ulaanbaatar and discussed measures for cooperation and R&D in rare metals in the attendance of both countries’ government delegations. date2023-11-21