Ministry of Trade, Industry and Energy

Korea and Indonesia enter 2 MOUs on EV ecosystem & new industries

The Ministry of Trade, Industry and Energy (MOTIE) signed two memorandums of understanding (MOUs) with the Indonesian government on the occasion of the Korea-Indonesia summit talks on September 8 in Jakarta for expanding cooperation on fostering the electric vehicle (EV) ecosystem (including electric two-wheelers) and for cooperation in nurturing future industries like bio and root industry. First, MOTIE entered the EV Ecosystem Cooperation MOU with Indonesia’s Coordinating Ministry for E date2023-09-08

Korea and Indonesia sign 16 agreements in areas including nuclear energy & mobility

Minister for Trade Dukgeun Ahn and Indonesia’s Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan attended a signing ceremony on September 7 for the signing of a total of 16 agreements, including a memorandum of understanding (MOU), between Korean and Indonesian companies during the Business Roundtable held on the occasion of Korean President Yoon Suk Yeol attending the ASEAN Summit 2023 in Jakarta. Approximately 40 representatives of the two countries' economic group date2023-09-08

Korea and the Philippines sign Free Trade Agreement

Minister for Trade Dukgeun Ahn and the Philippines’ Department of Trade and Industry (DTI) Secretary Alfredo E. Pascual signed the Korea-Philippines Free Trade Agreement (FTA) on September 7 on the sidelines of the ASEAN Summit 2023 held in Jakarta, Indonesia. Korea and the Philippines announced a joint declaration on the conclusion of the basic FTA framework in October 2021, succeeded by a number of negotiations regarding the specific schedule for removal and reduction of tariffs, i date2023-09-08

Korea and Nebraska discuss measures to bolster trade & economic cooperation

Deputy Minister for Trade Jeong Dae-jin met with Jim Pillen, Governor of Nebraska, U.S., on September 8 in Seoul to discuss measures for bolstering economic and trade cooperation between Korea and the state of Nebraska. Deputy Trade Minister Jeong stated that this year marks the 70th anniversary of the Korea-U.S. alliance and that following Korean President Yoon Suk Yeol’s state visit to the U.S. and the August summit meeting among Korea, U.S. and Japan, the two countries’ alliance date2023-09-08

Thirty-plus K-Design companies to participate in Paris' Maison&Objet

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 7 that it is operating a Design Korea booth at the trade fair 'Maison&Objet Paris 2023' from September 7-11 in France to promote K-design overseas and support Korean designers make their debut in the global market. Maison&Objet is the world’s largest trade fair for consumer goods and interior goods showcasing approximately 2,500 brands from 60 countries. This year, 33 Korean design firms will be exhibiting a date2023-09-07

Korea opens first hydrogen charging station for construction & industrial equipment

The Ministry of Trade, Industry and Energy (MOTIE) held the completion ceremony on September 6 for Korea’s first hydrogen charging station built exclusively for construction and industrial machinery at the Korea Construction Equipment Technology Institute (KOCETI)’s comprehensive testing center. MOTIE noted that the completion of this charging station will accelerate the distribution of hydrogen mobility in the market for off-road special equipment such as excavators and forklift tr date2023-09-07

Korea hosts International Biodegradable Plastics Conference 2023

The Ministry of Trade, Industry and Energy (MOTIE) and Incheon Metropolitan City are hosting the International Biodegradable Plastics Conference 2023 from September 6-7 at Songdo Convensia in Incheon. Amid rising concerns over plastic pollution in the international community, biodegradable plastics are gaining recognition as core items for achieving a circular economy, and other advanced countries are making efforts to nurture the biodegradable plastics industry and improve regulations. The la date2023-09-07

Korea launches Carbon Neutrality Grand Consortium

The Ministry of Trade, Industry and Energy (MOTIE) launched the Carbon Neutrality Grand Consortium on September 5, which aims to share across all industry sectors the outcomes of the KRW 41 billion carbon neutrality technology development project launched earlier this year. The Carbon Neutrality Grand Consortium is centered on the sub-consortiums of four sectors, namely steel petrochemicals, semiconductor/display and cement, including not only the firms participating in the carbon neutrality te date2023-09-06

Korea conducts first test flight with sustainable aviation fuel

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Land, Infrastructure and Transport (MOLIT) announced on September 5 that over the next three months, the cargo airline flying from Incheon to Los Angeles will be partially fueled with sustainable aviation fuel (SAF) for test flights. The first test flight was conducted via Korean Air’s flight KE207 at 5:45 p.m. on September 5 from Incheon to Los Angeles by filling two percent of the jet aircraft fuel with SAF. Five mor date2023-09-06

Korea and Guatemala conclude Korea-Central America FTA membership negotiations

Minister for Trade Dukgeun Ahn held talks via videoconferencing with Guatemala’s Minister of Economy Luz Marina Pérez Contreras and Guatemalan Ambassador to Korea Sara Solis (in person) on September 5 to announce that the membership accession negotiations have reached a final agreement on Guatemala joining the Korea-Central America Free Trade Agreement (FTA). date2023-09-05