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Industry
Minister holds 1st Business Realignment & Banks Joint Strategy Meeting
Trade, Industry and Energy Minister Lee Chang-yang presided the 1st Business Realignment & Banks Joint Strategy Meeting & MOU Signing Ceremony held at the Korea Chamber of Commerce and Industry (KCCI) on October 6 and signed the MOU on strengthening banks’ support for companies that grant approval for business realignment. The meeting was convened to discuss the establishment of a cooperation system between the Ministry and Korea’s Financial Supervisory Service (FSS) date2022-10-07
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Trade/Investment
Trade Minister attends IPEF Strategy Symposium
Trade Minister Ahn Duk-geun attended the IPEF Strategy Symposium on October 6, held under the theme of “Supply Chain Realignment Era, the Meaning of Indo-Pacific Economic Framework for Prosperity (IPEF) and Role of Korea.” At the symposium, the Trade Minister gave a congratulatory message, followed by keynote speeches by Adam Posen, President of the Peterson Institute for International Economics (PIIE), and Deborah Elms, Executive Director of Asian Trade Center. Presentation date2022-10-07
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Trade/Investment
Trade Minister attends IPEF Strategy Symposium
Trade Minister Ahn Duk-geun attended the IPEF Strategy Symposium on October 6, held under the theme of “Supply Chain Realignment Era, the Meaning of Indo-Pacific Economic Framework for Prosperity (IPEF) and Role of Korea.” At the symposium, the Trade Minister gave a congratulatory message, followed by keynote speeches by Adam Posen, President of the Peterson Institute for International Economics (PIIE), and Deborah Elms, Executive Director of Asian Trade Center. Presentations were date2022-10-07
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Energy
Minister holds “Public Institutions’ Energy Diet Resolution 10”
Trade, Industry and Energy Minister Lee Chang-yang held the “Public Institutions’ Energy Diet Resolution 10” on October 6 at the Seoul Energy Dream Center, in which 16 major institutions’ representatives attended to announce the energy saving policies and implementation plans going forward. The representatives recited and signed the resolution stating goals of 1) achieving minimum 10 percent energy saving 2) practicing the five principles of winter season energy date2022-10-07
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Energy
Minister holds “Public Institutions’ Energy Diet Resolution 10”
Trade, Industry and Energy Minister Lee Chang-yang held the “Public Institutions’ Energy Diet Resolution 10” on October 6 at the Seoul Energy Dream Center, in which 16 major institutions’ representatives attended to announce the energy saving policies and implementation plans going forward. The representatives recited and signed the resolution stating goals of 1) achieving minimum 10 percent energy saving 2) practicing the five principles of winter season energy saving a date2022-10-07
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FTA/Economic Cooperation
Trade Minister holds 2nd Exports Assessment Meeting
Trade Minister Ahn Duk-geun presided the second meeting for exports assessment with relevant institutions’ and industries’ representatives on October 6 at the Korea International Trade Association (KITA) to announce the launching of Exports Situation Room (ESR) and assess Korea’s trade. The trade chief gave an opening message and discussed recent trade issues and forecasts per sector to seek measures for vitalizing exports and improving the trade balance. The date2022-10-06
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Trade/Investment
Trade Minister holds 2nd Exports Assessment Meeting
Trade Minister Ahn Duk-geun presided the second meeting for joint public-private exports assessment with relevant institutions' and industries’ representatives on October 6 at the Korea International Trade Association (KITA) to announce the launching of Exports Situation Room (ESR) and discuss trade issues. The ESR aims to establish communication hotlines across SMEs and support them tackle obstacles and regulatory difficulties in exports and imports procedures. Each SME’s exports date2022-10-06
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Industry
1st Vice Minister attends 17th Electronics & IT Day
Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the 17th Electronics & IT Day on October 5 at COEX in Seoul to award contributors to the national development of electronics and IT industries’ competitiveness. In his congratulatory message, the Vice Minister encouraged the industry leaders for their hard work despite difficult conditions and assured that “technology development funding shall be provided for the bold attempts of innovation of entrepren date2022-10-05
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Trade/Investment
FDI pledged to Korea in Q3 surpass $20 billion
The Ministry of Trade, Industry, and Energy announced on October 5 that foreign direct investments (FDIs) pledged to Korea in the third quarter of this year jumped 18.2 percent year-on-year to USD 21.5 billion, the first time to enter the 20 billion thresholds. The FDIs arrivals in Korea over the same period contracted 6.7 percent to $11.2 billion. In spite of investment uncertainties like global inflation and interest rate hikes, investment pledges to Korea for the third quarter surpassed $20 date2022-10-05
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Trade/Investment
Korea and Germany hold 2nd meeting on industrial cooperation
The Ministry of Trade, Industry and Energy's Deputy Minister for the Office of Industrial Policy Joo Young-joon attended the “2nd ROK-Germany Meeting of the Industry Working Group of MOTIE and BWMK (Germany’s Ministry for Economic Affairs and Climate Action)” held on September 30 at the Korea Chamber of Commerce and Industry (KCCI) to discuss the U.S.’ Inflation Reduction Act (IRA), supply chain crisis and decarbonization strategies with German counterparts, including BWM date2022-10-05