Ministry of Trade, Industry and Energy

Trade Minister meets with U.S. Trade Representative to discuss trade issues

Minister for Trade Dukgeun Ahn met with U.S. Trade Representative Katherine Tai on November 12 in San Francisco on the sidelines of attending the IPEF ministerial meetings and APEC summit to discuss major trade issues and summit outcomes. date2023-11-20

Outdoor mobile robots now permitted for business use

The Ministry of Trade, Industry and Energy (MOTIE) and the National Police Agency announced on November 16 that following the implementation of the revised Intelligent Robots Act starting November 17, it is now permissible to engage in new business activities like delivery and patrolling services utilizing outdoor mobile robots. Until now, outdoor mobile robots were prohibited from operating on sidewalks. However, this has changed with the recent amendments and implementations of the Intelligen date2023-11-17

Korea to participate in MMRV framework as one of 13 founding members

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 16 that Korea will participate in the measurement, monitoring, reporting, and verification framework (MMRV Framework) as one of the 13 founding members along with the U.S., EU, Japan, and Australia in order to create an objective system for measuring methane emissions across the natural gas supply chain. Methane (CH4), the main component of natural gas at around 80%, is known as the second cause of global warming after car date2023-11-17

IPEF Pillars reach substantial conclusion and outcomes within 18 months of launch

The Republic of Korea participated in the Indo-Pacific Economic Framework for Prosperity (IPEF) ministerial meetings held through November 13-14 in San Francisco along with other 13 member countries to announce the outcomes gained from the last 18 months of negotiations. Member countries signed the Pillar II (Supply Chain) Agreement, which was already concluded in May this year, and also concluded negotiations for the Clean Economy Pillar and the Fair Economy Pillar. They took stock of the nego date2023-11-17

Minister Bang promotes CF Alliance & supply chain stabilization on sidelines of APEC summit

Trade, Industry and Energy Minister Bang Moon Kyu held talks with major countries’ ministers, U.S. companies and Korean firms operating in the U.S. on the sidelines of attending the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco. First, Minister Bang met with U.S.’ Under Secretary for Economic Growth, Energy, and the Environment Jose W. Fernandez to co-chair the Korea-U.S. Clean Energy Business Roundtable in response to climate change, and requested active support date2023-11-17

IPEF leaders reach substantial conclusion on critical minerals and other cooperation agendas

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 17 that President Yoon Suk Yeol attended the Indo-Pacific Economic Framework for Prosperity (IPEF) summit on November 16, hosted by U.S. President Joe Biden, and attended by the leaders of 14 countries, including Japanese Prime Minister Kishida Fumio. IPEF is a cooperative system established for joint response of major countries in the Indo-Pacific region against newly emerging global trade issues like supply chain and cli date2023-11-17

Korea and U.S. hold Clean Energy Business Roundtable

The Republic of Korea and the United States hold the Clean Energy Business Roundtable - Sharing public-private dialogue between Korea's Carbon-Free (CF) Alliance and the U.S.'s Clean Energy Demand Initiative (CEDI) - Discussion on ways to utilize carbon-free energy and expand investment in clean power ensued The Ministry of Trade, Industry, and Energy led by Minister Bang Moon Kyu and U.S. Under Secretary of State for Economic Growth, Energy, and the Environment Jose W. Fernandez led the 'Kor date2023-11-17

Korean and U.S. institutions join hands for technology cooperation in advanced industries

Trade, Industry and Energy Minister Bang Moon Kyu met with Stanford University President Richard Saller and other professors in the field of bio and robotics, on November 17 on the occasion of attending the Asia-Pacific Economic Cooperation (APEC) summit meetings, and discussed measures for expanding the scope of Korea-U.S. cooperation in advanced technologies. During the meeting, Minister Bang laid out three measures he plans to carry out next year: drastically increase support for internation date2023-11-17

Trade Minister attends trade & foreign ministerial APEC meeting in San Francisco

Minister for Trade Dukgeun Ahn attended Session II of the Asia-Pacific Economic Cooperation (APEC) trade and foreign ministerial meetings held on November 15 in San Francisco, chaired by U.S. Trade Representative Katherine Tai, and proposed two reform measures for establishing a more connected and resilient trade and investment system for the Asia-Pacific region. First, Trade Minister Ahn stated that the World Trade Organization (WTO) MC13, to be held in the United Arab Emirates (UAE) in 2024, date2023-11-17

Minister Bang and U.S. Secretary of Commerce discuss cooperation in advanced industries and trade issues

Trade, Industry and Energy Minister Bang Moon Kyu, on the occasion of attending the Asia-Pacific Economic Cooperation (APEC) summit meetings held through November 15-17 in San Francisco, met with U.S. Secretary of Commerce Gina Raimondo on November 15 and discussed measures for expanding bilateral cooperation in semiconductors and advanced industries, and requested continued cooperation in major trade issues. Minister Bang assessed that the two countries have been expanding collaboration in var date2023-11-16