Ministry of Trade, Industry and Energy

1st Vice Minister discusses IRA & other issues with U.S. high-ranking officials

Trade, Industry and Energy 1st Vice Minister Jang Young-jin met with the U.S. Deputy Secretary of Commerce Don Graves and Deputy National Security Advisor Mike Pyle, respectively, on February 16 in Washington D.C. to discuss and seek solutions for issues on the Inflation Reduction Act (IRA), semiconductor trade, export control concerns and measures for stronger Korea-U.S. high-tech cooperation. date2023-02-20

Trade Minister holds talks with Prime Minister of Croatia

Minister for Trade Dukgeun Ahn met with Croatia’s Prime Minister Andrej Plenković on February 16 at the Prime Minister’s Office of the Government of the Republic of Croatia to discuss bilateral economic and trade cooperation and requested support for Korea’s bid to host World Expo 2030 Busan. date2023-02-20

Minister holds Steel Industry Development Roundtable

Trade, Industry and Energy Minister Lee Chang-yang presided the Steel Industry Development Roundtable on February 16 at the JW Marriott Hotel Seoul to seek measures for Korea to overcome challenges and claim the name for one of world's top three global steel powerhouses.   The Minister signed the MOU for low carbon steel industry prior to the meeting, then led roundtable talks on countermeasures against reinforced trade barriers from carbon neutral, worldwide oversupply and drop date2023-02-17

MOTIE launches public-private committee for Korea-Middle East economic cooperation

Trade, Industry and Energy Minister Lee held a meeting on February 16, launching the Public-Private Joint Committee for Korea-Middle East Economic Cooperation at the Lotte Hotel Seoul and discussed plans for economic cooperation “shuttle group” and subcommittee project support.   The committee meeting for the launching ceremony was attended by representatives of companies and institutions concerning the Korea-Middle East economic summit diplomacy outcomes, including Korea Trad date2023-02-17

Korea's economic delegation promotes World Expo 2030 Busan in Austria & Croatia

Minister for Trade Dukgeun Ahn is leading Korea’s public-private joint economic delegation to Austria and Croatia through February 15-17 for bilateral talks on expanding cooperation in economy and trade, and to draw support for Korea’s bid to host World Expo 2030 in Busan. As Europe is home to the largest number of Bureau International des Expositions (BIE) member states, the economic delegation will visit a total of 13 countries across the continent to promote World Expo 2030 Busan date2023-02-17

MOTIE launches public-private committee for Korea-Middle East economic cooperation

Trade, Industry and Energy Minister Lee held a meeting on February 16 with relevant ministries, institutions and private sector companies launching the Public-Private Joint Committee for Korea-Middle East Economic Cooperation (hereinafter “Committee”) at the Lotte Hotel Seoul. In his opening message, Minister Lee stated that amid recent difficult external and internal economic conditions, Korea successfully secured 58 B2B memorandums of understanding (MOUs) and agreements with Saudi date2023-02-16

Korea and Austria discuss trade, investment and economic cooperation

Minister for Trade Dukgeun Ahn met with Martin Kocher, Austria’s Federal Minister for Labor and Economy, and Karl Nehammer, Chancellor of Austria, on February 15 in Vienna, respectively, to discuss expansion and strengthening of cooperation in trade, investment, industrial technology and economy, and requested support for Korea’s bid to host World Expo 2030 Busan. date2023-02-16

Minister presides 10th Defense Industrial Development Committee meeting

Trade, Industry and Energy Minister Lee Chang-yang presided the 10th Defense Industrial Development Committee meeting on February 14 at the Ministry of National Defense to discuss measures to advance industrial sustainability and performance amid all-time high arms exports in 2022.   The Minister gave an opening message and led discussions on the 3rd civil-military technology cooperation project masterplan and other issues.   The meeting was attended by National Defense Minist date2023-02-15

Korea and GCC hold 7th round of FTA negotiations

The Ministry of Trade, Industry and Energy (MOTIE) is heading the Korean delegation for the seventh round of the Korea-GCC (Gulf Cooperation Council) Free Trade Agreement (FTA) official negotiations held through February 14-16 in Riyadh, Saudi Arabia. Led by chief negotiator Kwon Hye-jin of MOTIE, the Korean delegation consists of approximately 30 representatives of relevant ministries, including the Ministry of Economy and Finance (MOEF), Ministry of Oceans and Fisheries (MOF) and the Ministry date2023-02-15

Korea's ICT trade records surplus of $0.9 billion in January

The Ministry of Trade, Industry and Energy announced on February 14 that Korea's exports and imports of information and communications technology (ICT) goods in January recorded USD 13.1 billion (down 33.2 percent year-on-year) and $12.2 billion (down 1.1 percent), respectively, and the trade balance stood at a surplus of $0.9 billion. The decline in exports is attributable to the global economic downturn and continued slump across the semiconductor industry. By item, shipments of major export date2023-02-14