Ministry of Trade, Industry and Energy

Minister Lee holds Summer Power Supply Inspection Meeting

Trade, Industry and Energy Minister Lee Chang-yang held a Summer Power Supply Inspection Meeting on July 10 to check electricity agencies’ power capacity management status, and assessed the power capacity countermeasures announced in June prior to touring Korea Midland Power. date2022-07-12

6th round of Korea-Ecuador SECA negotiations

The Ministry of Trade, Industry and Energy (MOTIE) announced on July 11 that the 6th round of Korea-Ecuador Strategic Economic Complementation Agreement (SECA) negotiations will be taking place through July 11-21 in Seoul. Both countries agreed in March this year to officially resume negotiations, and the 6th round follows a six-year hiatus since the 5th round in 2016. The 6th round will cover negotiations across all departments, encompassing products, services, investment, digital, procuremen date2022-07-12

Minister Lee attends 1st World EXPO 2030 Bid Committee Meeting

Trade, Industry and Energy Minister Lee Chang-yang attended the 1st World EXPO 2030 Bid Committee Meeting on July 8 at the Korea Chamber of Commerce and Industry (KCCI) to discuss Committee rules, and the progress and plans of promotion activities and private-led committee.   The event was attended by Prime Minister Han Duck-soo, KCCI Chairman Chey Tae-won and other relevant persons from various organizations, including the Ministry of Foreign Affairs (MOFA) and the Ministry of Culture, S date2022-07-12

Trade Minister attends Korea-U.S. Trade Cooperation Roundtable

Trade Minister Ahn Duk-geun attended the Korea-U.S. Trade Cooperation Roundtable on July 8 at the Four Seasons Hotel Seoul to share updates on the Korea-U.S. FTA, Indo-Pacific Economic Framework (IPEF) launch, supply chain communication channel, CHIPS for America Act and U.S. visa quota for highly-skilled Korean workers.   The meeting was convened on the occasion of the Congressional Study Group on Korea (CSGK)’s visit to South Korea, which is co-chaired by U.S. Representatives Ami date2022-07-12

World Expo 2030 Bid Committee to give full measure

The South Korean government held the first World Expo 2030 Bid Committee (hereinafter “Committee”) meeting at the Korea Chamber of Commerce and Industry (KCCI) on July 8, which was co-presided by Prime Minister Han Duck-soo and Co-Chairman Chey Tae-won. The private-led bid committee and Government-led bid committee have been merged so as to combine all efforts for the single aim of winning Busan the bid for host city of World Expo 2030. Comprising 14 of Government Ministe date2022-07-11

Trade Minister holds 15th Trade Advisory Committee Meeting

Trade Minister Ahn Duk-geun held the 15th Trade Advisory Committee (hereinafter “Committee”) Meeting at the Lotte Hotel Seoul on July 7, the first meeting of its kind under the new regime.   In his opening message, Trade Minister Ahn stated that efforts had been made over the past two months to leverage the Korea-U.S. summit, IPEF launching ceremony and the 12th WTO Ministerial Conference to create favorable trade results for Korean companies and contribute to the internationa date2022-07-11

Trade Minister holds 15th Trade Advisory Committee Meeting

Trade Minister Ahn Duk-geun held the 15th Trade Advisory Committee (hereinafter “Committee”) Meeting at the Lotte Hotel Seoul on July 7, the first meeting of its kind under South Korea's new regime. The above Committee is a consultation body focused on communication with corporations and consists of approximately 30 experts from industries and academia, serving as one of the main public-private collaborative channels. This meeting was held to discuss matters related to trade policy date2022-07-11

Korea reclaims world no.1 shipyard title in 4 years

The Ministry of Trade, Industry and Energy (MOTIE) announced on July 6 that South Korea’s shipbuilding industry achieved 1st place in terms of shipbuilding orders for the first half of 2022, winning 45.5 percent (9.79 million CGT) out of a total of 21.53 million CGT, the entire volume of shipbuilding orders worldwide for that period. In so doing, Korea has reclaimed top spot for H1 after previously claiminig it in 2018. When excluding delayed demand effect of 2021, H1 2022 results are the date2022-07-08

Trade Minister attends Global Investment Summit

Trade Minister Ahn Duk-geun attended the Global Investment Summit held at the Shilla Seoul on July 6 and gave a congratulatory message.   The event was attended by approximately 200 persons from various foreign-invested companies and relevant local government bodies, including Korea Trade-Investment Promotion Agency (KOTRA) President Yu Jeong-yeol and LG-Ericsson South Korea & Taiwan Operations CEO Håkan Cervell.   date2022-07-08

MOTIE holds Global Investment Summit

The Ministry of Trade, Industry and Energy (MOTIE) co-hosted the first large-scale Global Investment Summit (hereinafter “the Summit”) with Korea Trade-Investment Promotion Agency (KOTRA) under the new administration at the Shilla Seoul on July 6, and under the theme of “Role of Foreign Investors in the Era of Supply Chain Reconfiguration.” The Summit consisted of an MOU signing ceremony, roundtable, global investment forum and investment consultation, and the entire ev date2022-07-08