Ministry of Trade, Industry and Energy

Trade Minister attends Asian Business Summit 2023

Minister for Trade Dukgeun Ahn attended the Asian Business Summit 2023 on July 5 in Seoul, which was held to strengthen cooperation between East Asia and newly emerging economic powers, and to seek measures for Asia’s intraregional economic integration.   In his congratulatory speech, Trade Minister Ahn stated that the Korean government aims to promote freedom and prosperity across the Indo-Pacific region through solidarity and cooperation with Asian countries, and requested active date2023-07-11

Korea holds SMR Alliance Launching Ceremony

Trade, Industry and Energy Minister Lee Chang-yang attended the Small Modular Reactor (SMR) Alliance Launching Ceremony on July 4 at the Westin Josun Seoul.   In his opening message, he stated that “the public and private sectors must work together to respond to changes that will be brought on by SMRs and formulate business measures worthy of the public’s trust, and the Government will give full measure to provide full support for SMR industry development.”   The date2023-07-10

Minister Lee attends Middle-Market Companies Job Expo 2023 opening ceremony

Trade, Industry and Energy Minister Lee Chang-yang attended the opening ceremony for the Middle-Market Companies Job Expo 2023 on July 3 at COEX in Seoul.   In his opening message, Minister Lee stated that “middle-market companies are the main source of quality jobs for the youth, so we look forward to their bold investments, creativity and innovation in this regard,” and added that “the Government will also increase support to expand middle-market companies' global comp date2023-07-10

Korea sets up FTA Support Center in Malaysia

The Ministry of Trade, Industry, and Energy (MOTIE) of the Republic of Korea and the Korea Trade-Investment Promotion Agency (KOTRA) opened a Free Trade Agreement (FTA) Support Center in Kuala Lumpur, Malaysia on July 5 to help Korean companies exporting to Malaysia better utilize the Korea-ASEAN Free Trade Agreement (FTA) and the Regional Comprehensive Economic Partnership (RCEP). Malaysia is Korea’s third-largest trading partner among ASEAN countries, following Vietnam and Singapore. Th date2023-07-10

Nano Korea 2023 showcases technologies for advanced industries

The Republic of Korea's Ministry of Trade, Industry, and Energy (MOTIE) and Ministry of Science and ICT (MSIT) jointly hosted Nano Korea 2023, a three-day event for networking and collaboration among nano-convergence companies and nanotechnologists at KINTEX from July 5-7. This year marks the 21st anniversary for Nano Korea, first held in 2003. The event, which includes an exhibition and a symposium, has become a collaboration platform for the development of the nano-convergence industry and te date2023-07-10

Minister Lee discusses trade and energy with U.S. House Energy Subcommittee

Trade, Industry and Energy Minister Lee Chang-yang met the U.S. House Energy Subcommittee on Energy, Climate, and Grid Security members Jeff Duncan, Tim Walberg, Randy Weber, Scott Peters and Debbie Lesko in Seoul on June 30 to discuss nuclear energy, natural gas and measures for strengthening Korea-U.S. trade cooperation. date2023-07-06

MOTIE holds 3rd briefing on measures for strengthening response to new trade regulations

Trade, Industry and Energy Ministry’s Deputy Minister for FTA Negotiations Roh Keon-ki attended the third briefing session on measures for strengthening response to new trade regulations at the Courtyard Seoul Namdaemun on June 28, co-hosted by the Ministry and the Korean Commercial Arbitration Board (KCAB).   After giving an opening message, Deputy Minister Roh led discussions on international investment arbitration, commercial arbitration and civil lawsuit trends and response meas date2023-07-06

FDI pledged to Korea in H1 2023 reach all-time high $17.1 bln

The Ministry of Trade, Industry and Energy (MOTIE) announced on July 4 that foreign direct investments (FDIs) pledged to Korea in the first half of 2023 soared 54.2 percent year-on-year to a record-breaking USD 17.1 billion. FDIs that actually arrived in Korea over the same period rose 6.3 percent to $7.8 billion. The number of pledges increased, while that of arrivals decreased. The number of pledges reached 1,649 (up 0.7 percent) and arrivals 1,173 (down 7.2 percent). Despite the global FDI date2023-07-06

Korea to rally cross-ministerial support for trade surplus

The Ministry of Trade, Industry and Energy (MOTIE), together with other export-related ministries, held the 3rd Cross-ministerial Export Status Review Meeting on June 27 at the Government Complex Seoul to discuss cross-ministerial measures to boost export growth. Firstly, the government will actively provide tailored support for small and medium-sized businesses with the objective of achieving 100,000 exporting companies. This includes strengthening support for novice exporters from consulting date2023-07-05

Korea seeks to attract KRW 100 trillion in free economic zones

The Ministry of Trade, Industry, and Energy (MOTIE) announced the draft of the 3rd Basic Plan for Free Economic Zones at the 135th committee meeting held on June 29, and approved the proposed revised development plans for the Gwangju, Gwangyang Bay Area, and Incheon Free Economic Zones. These plans are in line with the Government’s plans to develop free economic zones as global advanced business hubs for regional development, and attract KRW 100 trillion investment in Korea and abroad (fr date2023-07-05