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Trade/Investment
Korea and Spain hold business forum to further cooperation
Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-Spain Business Forum on November 18 in Seoul on the occasion of Spain’s Prime Minister Pedro Sanchez’s visit to Korea. The forum was held to expand Korea-Spain business cooperation and attended by approximately 100 persons, including officials and corporate representatives of both countries. In his congratulatory message, Minister Lee stated that Korea-Spain economic cooperation potential is great in vie date2022-11-18
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Trade/Investment
Korea and Saudi Arabia hold Investment Forum
Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-Saudi Investment Forum on November 17, hosted by the Ministry of Trade, Industry and Energy (MOTIE) and Saudi Arabia’s Ministry of Investment, and organized by the Korea Trade-Investment Promotion Agency (KOTRA), Korea Chamber of Commerce and Industry (KCCI) and the Federation of Saudi Chambers (FSC). Approximately 300 persons attended the event, including Saudi Arabia’s Investment Minister Khalid A. Al-Falih and date2022-11-18
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Trade/Investment
Minister attends Korea-Indonesia Business Roundtable on sidelines of G20
Trade, Industry and Energy Minister Lee Chang-yang held talks with Korean and Indonesian business leaders in Bali, Indonesia on November 14 on bilateral economic cooperation and requested support for World EXPO 2030 Busan. date2022-11-17
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Trade/Investment
Minister Lee and Airbus D&S CEO discuss aerospace industry cooperation
Trade, Industry and Energy Minister Lee Chang-yang held talks with Airbus Defense & Space (D&S) CEO Michael Schoellhorn at the Government Complex Seoul on November 16 and discussed measures for aerospace industry development and Korean companies’ exports expansion. date2022-11-17
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Trade/Investment
Minister Lee and Airbus D&S CEO discuss aerospace industry cooperation
Trade, Industry and Energy Minister Lee Chang-yang met with Airbus Defense and Space (D&S) CEO Michael Schoellhorn on November 16 at the Government Complex Seoul to discuss measures to strengthen the aerospace and defense industry. Airbus D&S is a division of Airbus SE, the European multinational aerospace corporation, and this meeting was convened on the occasion of the Airbus D&S chief’s visit to South Korea for local management affairs. Discussions centered on cooperation date2022-11-17
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Trade/Investment
Korea and Indonesia hold Business Roundtable on sidelines of G20
Trade, Industry and Energy Minister Lee Chang-yang attended the Korea-Indonesia Business Roundtable on November 14, held on the sidelines of the G20 summit convened in Bali, Indonesia, where 10 memorandums of understanding (MOUs) were signed by public and private parties of the two countries. The roundtable was co-hosted by the Federation of Korean Industries (FKI) and Indonesian Chamber of Commerce and Industry (KADIN), and attended by 40 officials and business representatives. It was the firs date2022-11-16
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Trade/Investment
Korea and Sweden discuss economic cooperation and IRA response measures
Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin met with Sweden’s Ambassador Håkan Jevrell on November 15 at the JW Marriott Hotel Seoul to discuss joint measures in response to U.S.’ Inflation Reduction Act (IRA), enhanced bilateral economic cooperation in green and digital transition, and requested support for World EXPO 2030 Busan. date2022-11-16
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Trade/Investment
Korea attracts more investment with groundbreaking of ASML chip cluster
The Ministry of Trade, Industry and Energy (MOTIE) announced on November 15 that construction for Dutch semiconductor equipment maker ASML’s new headquarters in South Korea’s Hwaseong is to begin, bringing greater investment from four major chip equipment producers (Applied Materials, ASML, Lam Research, Tokyo Electron) that take up more than 60 percent of the global market, which will substantially contribute to enhancing Korea’s technological competitiveness. The groundbreak date2022-11-15
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Industry
1st Vice Minister attends 36th Textile Day
Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the 36th Textile Day on November 11 in Seoul to encourage those in the textiles and fashion industry and congratulate the robust exports despite economic slowdown and supply chain realignment concerns. The Vice Minister gave a congratulatory message and awarded medals and orders of merit to 47 persons who contributed to the development of the textile industry, including Huvis CEO Shin You-dong, who received the Gold To date2022-11-15
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Energy
2nd Vice Minister attends Yeosu GS Caltex MFC Plant completion ceremony
Trade, Industry and Energy 2nd Vice Minister Park Il-jun attended the Yeosu GS Caltex olefin mixed feed cracker (MFC) plant completion ceremony on November 11 and congratulated the successful construction. Vice Minister Park stated in his congratulatory message that “by this plant completion, GS Caltex has grown from being a conventional oil refinery to an international energy enterprise with growth engine for the future” and added that “amid surging oil, gas and globa date2022-11-15