Ministry of Trade, Industry and Energy

Korea's ICT exports decline 13.4% in September

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 16 that Korea's exports and imports of information and communications technology (ICT) goods for September recorded USD 18.1 billion (down 13.4 percent year-on-year) and $10.8 billion (down 16.8 percent), respectively. The trade balance stood at a surplus of $7.3 billion. The ICT export decline rate recorded the lowest year-on-year as semiconductors hit all-time highs in export value for this year. Exports of semiconductor date2023-10-16

Korean delegation participates in 6th IPEF negotiating round

Trade, Industry and Energy Ministry’s Deputy Minister for FTA Negotiations Roh Keon-ki is heading the Korean delegation, composed of representatives of approximately 20 government ministries, in the sixth negotiating round of the Indo-Pacific Economic Framework for Prosperity (IPEF) held from October 15-24 in Kuala Lumpur, Malaysia. The 14 IPEF member countries participating in this round of negotiations include Korea, the U.S., Japan, Australia, Singapore, Vietnam and India, whose shared date2023-10-16

Korea and Saudi hold 4th Vision 2030 ministerial meeting

Trade, Industry and Energy Minister Bang Moon Kyu attended the fourth Korea-Saudi Vision 2030 Committee ministerial meeting on October 13 at the Four Seasons Hotel Seoul with Saudi Investment Minister Khalid A. Al-Falih in the presence of both countries’ delegations to inspect the implementation progress of economic summit diplomacy outcomes, and discussed measures for Korean companies’ entrance into automobile, bio, mobile payment, games and entertainment markets across the Middle E date2023-10-13

Korea and Saudi hold 4th Vision 2030 ministerial meeting

Korea and Saudi Arabia’s eleven major government ministries came together on October 13 at the Four Seasons Hotel Seoul to hold the fourth Korea-Saudi Vision 2030 Committee (“Committee”) ministerial meeting, led by Minister Bang Moon Kyu and the Saudi Investment Minister Khalid A. Al-Falih, accompanied by the deputy ministers of both countries’ ministries and director general-level subcommittee heads. The two countries’ representatives confirmed the smooth implemen date2023-10-13

Korea holds Seoul International Forum on Trade Remedies 2023

The Ministry of Trade, Industry and Energy (MOTIE) held the Seoul International Forum on Trade Remedies 2023 on October 13 under the theme of “Challenges and Tasks of Trade Remedies in the Digital Era” at COEX in Seoul, where representatives of major global trade remedy organizations gathered to discuss response measures amid the changing trade landscape and share various cases and experiences of different countries. Approximately 110 representatives, experts and corporate date2023-10-13

Former IPCC Chair elected to lead the Carbon Free Alliance

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 12 that the Carbon Free (CF) Alliance inaugural assembly was held that day at the Korea Chamber of Commerce and Industry (KCCI) in Seoul. The Carbon Free Energy (CFE) Forum, launched in May and more discussion-oriented, will undergo incorporation to secure stability and executive powers. This is part of a follow-up measure to the CF Alliance proposed by President Yoon Suk Yeol during his keynote speech at the United Nations date2023-10-13

Trade Minister discusses cooperation with Chile's Economy Minister

Minister for Trade Dukgeun Ahn held talks with Chile’s Economy, Development and Tourism Minister Nicolas Grau on October 12 in Seoul regarding measures for bilateral cooperation in trade, critical minerals supply chain and green energy, and asked for Chile’s support for Korea’s bid to host World Expo 2030 in Busan. date2023-10-13

Korea and Chile hold 23rd Economic Cooperation Committee meeting

Trade, Industry and Energy Minister Bang Moon Kyu attended the 23rd Korea-Chile Economic Cooperation Committee meeting on October 12 in Seoul, held in commemoration of the two countries’ 20th anniversary of signing the Korea-Chile free trade agreement (FTA).   In his congratulatory message, the minister encouraged those present to 'make further effort for the forward-looing development of Korea-Chile bilateral relations.”   Approximately 100 persons attended the event, date2023-10-13

Korea and Chile discuss ways to expand cooperation upon 20th FTA anniversary

Trade, Industry and Energy Minister Bang Moon Kyu and Chile’s Economy, Development and Tourism Minister Nicolas Grau attended the 23rd Korea-Chile Economic Cooperation Committee meeting on October 12 in Seoul, held by the Korea Chamber of Commerce and Industry (KCCI) and the Federation of Chilean Industry (SOFOFA), in commemoration of the two countries’ 20th anniversary of signing the Korea-Chile free trade agreement (FTA). The Korea-Chile Economic Cooperation Committee has robustly date2023-10-12

Korean delegation attends minerals security partnership meeting in London

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 11 that the Korean delegation, headed by Deputy Foreign Minister for Economic Affairs Kang Jae-kwon, attended the Minerals Security Partnership (MSP) meeting in London on October 10, chaired by the U.S. Department of State, to participate in discussions on measures for cooperation in financial support for critical minerals and cooperation with resource-rich nonmember countries. Attendees agreed that in order to facilitate f date2023-10-12