Ministry of Trade, Industry and Energy

1st Vice Minister discusses GVC cooperation with Boeing Vice President

Trade, Industry and Energy 1st Vice Minister Jang Young-jin met with Michael Sinnett, Vice President and General Manager of Product Development for Boeing Commercial Airplanes, on March 30 in Seoul to discuss high-tech industry strategy, investment, expansion of aviation GVC cooperation and measures to increase new recruitment at Boeing Korea Engineering and Technology Center (BKETC). date2023-04-04

Korea and U.S. hold Trade Ministers’ Conference

Minister for Trade Dukgeun Ahn met with U.S. Trade Representative Katherine Tai on March 30 in Seoul and held a Korea-U.S. Trade Ministers’ Conference to discuss various issues, including IPEF, WTO reform, IRA and the CHIPS and Science Act. date2023-04-04

Minister Lee attends lighting ceremony to promote aspiration for World Expo 2030 Busan

Trade, Industry and Energy Minister Lee Chang-yang attended the Gwanghwamun lighting ceremony on March 30 to promote Korea's aspirations for winning the bid to host World Expo 2030 in Busan.   The Bureau International des Expositions (BIE) has sent an enquiry mission to inspect Korea’s capacity and readiness to host the Expo, which is one of the world’s top three mega events.   The lighting ceremony was attended by Government and private sector representatives, includin date2023-04-04

Trade Minister discusses export issues with Chungnam Province SMEs

Minister for Trade Dukgeun Ahn discussed export challenges with SMEs and middle-market companies, as well as measures to enhance firms’ understanding on the rapidly changing global trade environment on March 29 in Chungnam Province.   The trade minister first attended the MOU signing ceremony for launching of a trade promotion committee by eleven export assistance institutes, then discussed trade issues with exporters based in the Chungnam Province, including emerging market en date2023-04-04

Korea and U.S. hold Trade Ministers’ Conference

Minister for Trade Dukgeun Ahn met with U.S. Trade Representative Katherine Tai on March 30 in Seoul and held a Korea-U.S. Trade Ministers’ Conference to discuss trade issues and cooperation measures. The conference was held on the occasion of Representative Tai’s visit to Korea to attend the 2nd Summit for Democracy Indo-Pacific Regional Meeting in Seoul. The trade chiefs took the view that, on the basis of the Korea-U.S. Free Trade Agreement (FTA), the two countries’ bilate date2023-04-04

MOTIE attends 23rd Korea-Japan New Industry Trade Conference

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin attended the 23rd Korea-Japan New Industry Trade Conference on March 30 at COEX in Seoul. The conference was attended by representatives of relevant firms and organizations, including Korea International Trade Association (KITA), Korea-Japan Economic Association and officials of both Korean and Japanese governments.   date2023-04-03

Korea's exports fall 13.6% in March, but trade balance improves

The Ministry of Trade, Industry and Energy announced on April 1 that Korea’s exports in March declined 13.6 percent year-on-year to USD 55.1 billion. Imports fell 6.4 percent to $59.8 billion. Trade balance stood at a deficit of $4.6 billion. March exports were hit by the slowdown in the global economy and semiconductor industry, as well as the high base effect of last year’s March exports having recorded historic highs. Meanwhile, export value managed to reclaim $55 billion thresho date2023-04-03

Trade Minister presides 32nd Trade Promotion Committee meeting

Minister for Trade Dukgeun Ahn presided the 32nd Trade Promotion Committee meeting on March 30 at K-SURE in Seoul and led discussions on response measures to major countries’ trade issues, IPEF negotiations, EPA, follow-up negotiations on WTO fisheries subsidies and assistance for overseas plant bid projects.   Officials of relevant ministries attended the meeting, including the Ministry of Foreign Affairs, Ministry of Economy and Finance, and the Office for Government Policy Coordi date2023-03-31

Trade Minister holds 32nd Trade Promotion Committee meeting

Minister for Trade Dukgeun Ahn chaired the 32nd Trade Promotion Committee meeting on March 30 and led discussions on five major agenda items: 1) Korea’s response trade issues related to major countries, 2) progress in and responses to the Indo-Pacific Economic Framework for Prosperity (IPEF) negotiations, 3) the direction of the Economic Partnership Agreement (EPA), 4) the World Trade Organization (WTO) fisheries subsidies follow-up, and 5) assistance measures for overseas plant bid projec date2023-03-31

Minister attends special financial assistance MOU ceremony for NPP firms

Trade, Industry and Energy Minister Lee Chang-yang attended the MOU signing ceremony for on March 29 at the Four Seasons Hotel Seoul for the launching of KRW 200 billion special financial package for nuclear power plant (NPP) SMEs and middle-market companies to accelerate the restoration of NPP ecosystem.   The ceremony was attended by Korea Hydro & Nuclear Power (KHNP) President Hwang Ju-ho, Korea Development Bank (KDB) Chairman Kang Seog-hoon, Doosan Enerbility President Jung Y date2023-03-31