Ministry of Trade, Industry and Energy

Korea and Uzbekistan sign TIPF deal

Deputy Minister for Trade Jeong Dae-jin met with Uzbekistan’s Investment, Industry and Trade Deputy Minister Khamrayev Oybek Nematovich on September 12 at the Lotte Hotel Seoul, where they signed the Korea-Uzbekistan Trade and Investment Promotion Framework (TIPF) agreement. date2023-09-12

Korea and Uzbekistan sign TIPF deal

Deputy Minister for Trade Jeong Dae-jin met with Uzbekistan’s Investment, Industry and Trade Deputy Minister Khamrayev Oybek Nematovich on September 12 at the Lotte Hotel Seoul, where they signed the Korea-Uzbekistan Trade and Investment Promotion Framework (TIPF) agreement, Korea’s seventh TIPF deal and a first with a Central Asian country. The TIPF is a new cooperation framework on which MOTIE is placing emphasis lately, a mechanism that can expand mutual economic cooperation and date2023-09-12

Korea participates in the 5th round of IPEF negotiations

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 11 that MOTIE’s Deputy Minister for FTA Negotiations Roh Keon-ki is heading the Korean delegation in the fifth round of the Indo-Pacific Economic Framework for Prosperity (IPEF) negotiations held from September 10-16 in Bangkok, Thailand. Fourteen countries are participating in this round: Korea, the U.S., Japan, Australia, New Zealand, Singapore, Thailand, Vietnam, Brunei, Malaysia, the Philippines, Indonesia, Indi date2023-09-12

Korea and Western Australia discuss measures for stronger energy supply chain cooperation

The Ministry of Trade, Industry and Energy (MOTIE)’s Vice Minister Kang Kyungsung met with Western Australia’s Premier Roger Cook on September 8 in Seoul to discuss measures for cooperation in energy areas like CCS (carbon capture and storage), clean hydrogen, ammonia, green steel, critical minerals, and natural gas, as well as a Korea-Western Australia memorandum of understanding (MOU) in energy cooperation. date2023-09-11

Korea and Western Australia discuss measures for stronger energy supply chain cooperation

The Ministry of Trade, Industry and Energy (MOTIE)’s Vice Minister Kang Kyungsung met with Western Australia’s Premier Roger Cook on September 8 in Seoul to discuss measures for cooperation in energy areas like CCS (carbon capture and storage), clean hydrogen, ammonia, green steel, critical minerals, and natural gas, as well as a Korea-Western Australia memorandum for understanding (MOU) in energy cooperation. A number of Korean firms like SK E&S and GS Caltex plan to carry out date2023-09-11

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 for clean energy transition, as well as other major trade issues like the Inflation Reduction Act (IRA). date2023-09-11

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