Ministry of Trade, Industry and Energy

Korea and Finland discuss economic, industrial & energy cooperation

Minister for Trade Dukgeun Ahn met with Finland’s Minister of Transport and Communications Timo Harakka on January 31 at the Lotte Hotel Seoul to discuss measures to boost economic, industrial and nuclear energy cooperation, and requested support for World Expo 2030 Busan. date2023-02-01

Trade Minister holds 31st Trade Promotion Committee meeting

Minister for Trade Dukgeun Ahn held the 31st Trade Promotion Committee meeting on January 30 at the Korea Chamber of Commerce and Industry (KCCI) to discuss major trade policy tasks amidst the rapidly changing global trade environment, in the attendance of officials of relevant ministries. Trade Minister Ahn stated that “as concerns for global recession this year are rising, the global economy is up against the risk of multiple crises, namely energy security, protectionism and supply chai date2023-02-01

Korea's exports decline 16.6% in January

The Ministry of Trade, Industry and Energy announced on February 1 that Korea’s exports in January fell 16.6 percent year-on-year to USD 46.3 billion. Imports also shrank 2.6 percent to $59.0 billion. Trade balance stood at a deficit of $12.7 billion. The exports decline is attributed to high inflation, high interest rates and other negative factors currently affecting the global economy, as well as a high base effect from previous year’s record-breaking January exports. Semiconduc date2023-02-01

Trade Minister holds 31st Trade Promotion Committee meeting

Minister for Trade Dukgeun Ahn held the 31st Trade Promotion Committee meeting on January 30 at the Korea Chamber of Commerce and Industry (KCCI) to discuss major trade policy tasks amidst the rapidly changing global trade environment.   The Trade Minister gave an opening message and led discussions on the Trade and Investment Promotion Framework (TIPF), FTA directions for 2023 and outcomes of the WTO trade ministerial meeting that was held on occasion of the forum at Davos.   The date2023-01-31

Korea and Western Australia sign LOI on energy & resources cooperation

Trade, Industry and Energy Minister Lee Chang-yang met with Mark McGowan, Premier of Western Australia, on January 30 at the Lotte Hotel Seoul to sign the Korea-Australia LOI on energy and resources cooperation and discussed critical minerals, clean hydrogen and support for Korean companies’ investment and exports. date2023-01-30

Korea's auto export value grows 16.4% in 2022

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 30 that Korea’s annual automobile export value for 2022 increased 16.4 percent to USD 54.1 billion, and export volume gained by 13.3 percent to 2.3 million units. In terms of automobile production and domestic sales, the industry saw an 8.5 percent increase and 2.4 percent decline, respectively. Exports growth is attributed to rising demand for domestic brands for their high quality, as well as relatively competitive date2023-01-30

Trade Minister visits smart farming company to discuss exports

Minister for Trade Dukgeun Ahn visited NextOn, a smart farming company in Seocho-gu, Seoul, on January 26 to tour the smart farm cultivation site and discuss measures to counter obstacles faced by domestic exporters.   Trade Minister Ahn was briefed by NextOn CEO Choi Jae-bin on company management and challenges before touring the site and encouraging employees.   date2023-01-30

Trade Minister attends Korea-Cambodia Business & Investment Forum

Minister for Trade Dukgeun Ahn attended the Korea-Cambodia Business and Investment Forum at COEX on January 27, held to promote trade and investment on occasion of the Korea-Cambodia FTA enforcement and gave a congratulatory message.    The trade chief said that the two countries should work together to seek out joint projects in digital economy and other areas where public-private collaboration is feasible, as well as in sectors relevant to clean energy for carbon neutral.   date2023-01-27

Trade Minister attends Korea-Cambodia Business & Investment Forum

Minister for Trade Dukgeun Ahn attended the Korea-Cambodia Business and Investment Forum held at COEX on January 27 and gave a congratulatory message. He noted that the opening of markets has established the foundation for a broader scope of trade for both countries across various areas like automobiles, machinery and agro-fishery products in comparison with the Korea-ASEAN FTA and Regional Comprehensive Economic Partnership (RCEP). The event was held in the attendance of Pan Sorasak, the Minis date2023-01-27

Minister holds Industrial Transformation Forum kick-off meeting

Trade, Industry and Energy Minister Lee Chang-yang presided the first Industrial Transformation Forum meeting with its six private-sector chairpersons and other experts on January 26 at the Korea Chamber of Commerce and Industry (KCCI) to discuss the need and specific measures for industrial transformation.   The Minister emphasized that Korea’s economy is facing various difficulties both externally and internally, and called for an industrial innovation by which Korea can break thr date2023-01-27