Ministry of Trade, Industry and Energy

Minister Lee discusses trade bolstering measures with U.S.' Ways & Means Committee

The Republic of Korea’s Trade, Industry and Energy Minister Lee Chang-yang and Minister for Trade Dukgeun Ahn met with the House Committee on Ways and Means, led by Congressman Jason Smith, on July 31 in Seoul to discuss the U.S. Inflation Reduction Act (IRA), CHIPS and Science Act, energy cooperation and other Korea-U.S. industrial and trade issues. date2023-08-04

Minister Lee discusses trade bolstering measures with U.S.' Ways & Means Committee

The Republic of Korea's Trade, Industry and Energy Minister Lee Chang-yang met with the U.S. House group Ways & Means Committee headed by Chair Jason Smith on July 31 in Seoul to discuss the Inflation Reduction Act (IRA), CHIPS and Science Act, and other bilateral issues in energy, industrial and trade cooperation. A bipartisan group in charge of U.S. taxation, supply chain, free trade agreements (FTAs) and other trade policies, the Ways & Means Committee visited Korea to discuss measur date2023-08-03

Korea and Japan accelerate business exchange following presidential visit

Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-Japan Business Conference Dinner on July 28 at the Lotte Hotel Seoul to discuss measures for invigorating economic exchange and cooperation between major Korean and Japanese business leaders.   Minister Lee Chang-yang said in his congratulatory remarks, 'The Korea-Japan relationship has been fully restored with four Korea-Japan summits held in just four months after the presidential visit to Japan in March.' He encourag date2023-08-03

Korea and Japan accelerate business exchange following presidential visit

With the revival of “shuttle diplomacy” between Korea and Japan after a 12-year hiatus, coupled with the full resolution of export control issues which lingered for four years, there has been significant acceleration in the exchanges and collaborations among business leaders from both countries. This boost in interactions aims to execute measures agreed upon during the summit and expand mutual business cooperation. Representatives from the Japan Association of Corporate Executives, date2023-08-03

Korea's July exports record trade surplus for 2nd successive month

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced on August 1 that Korea’s exports in July declined 16.5 percent year-on-year to USD 50.3 billion and imports fell 25.4 percent to $48.7 billion, resulting in a trade surplus of $1.6 billion. July exports were negatively impacted by the slowdown of the semiconductor industry, petrochemicals and petroleum products’ unit price falls from oil price falls, and the high base effect from last year’s date2023-08-01

Minister chairs New Energy Industry Export Momentum Roundtable meeting

The Republic of Korea’s Ministry of Trade, Industry and Energy Minister Lee Chang-yang held a roundtable meeting on the new energy industry export strategy at the Korea Chamber of Commerce and Industry (KCCI) on July 27 to discuss measures to utilize recent opportunities for overseas expansion, such as cooperation on small modular reactors (SMRs), building clean hydrogen supply chains, and reconstruction projects in Ukraine. Minister Lee chaired the roundtable, held the launching ceremo date2023-07-31

Korea to double new energy industry exports by 2030

The Republic of Korea’s Ministry of Trade, Industry and Energy Minister Lee Chang-yang held a roundtable meeting on the new energy industry export strategy at the Korea Chamber of Commerce and Industry (KCCI) on July 27 with representatives from the industry, finance, academia, and related agencies. The meeting was designed to utilize recent opportunities for overseas expansion, such as cooperation on small modular reactors (SMRs), building clean hydrogen supply chains, and reconstruction date2023-07-31

Korea seeking to become Asia Pacific offshore wind power hub

The Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE)’s Energy Industry Deputy Minister Cheon Young-gil chaired the Offshore Wind Power Supply Chain Conference on July 27 at Korea Productivity Center (KPC) to seek measures to promote Korean companies’ products and technologies in the global offshore wind power market. The conference was held in view of recent policy environment changes, including leading global offshore wind power companies’ decision to date2023-07-31

Korea and Africa discuss measures to expand economic cooperation

The Republic of Korea’s Minister for Trade Dukgeun Ahn met with African Continental Free Trade Area (AfCFTA) Secretariat Secretary-General Wamkele Mene on July 26 during the latter’s visit to Seoul and discussed measures to expand Korea-Africa economic cooperation. date2023-07-28

Korea and Africa discuss measures to expand economic cooperation

The Republic of Korea’s Minister for Trade Dukgeun Ahn met with African Continental Free Trade Area (AfCFTA) Secretariat Secretary-General Wamkele Mene on July 26 during the latter’s visit to Seoul and discussed measures to expand Korea-Africa economic cooperation. Assessing the launching of AFCFTA as positive in that it strengthened the basis for intraregional trade, Trade Minister Ahn explained that the Korean government is pushing various trade agreements through the Economic Par date2023-07-28