Ministry of Trade, Industry and Energy

Korea's ICT exports achieve 13.9% growth in May

The Ministry of Trade, Industry and Energy announced on June 14 that Korea’s information and communications technology (ICT) industry exported $20.2 billion (up 13.9 percent) worth of goods in May. Imports expanded 19.8 percent to $12.6 billion, and the trade balance was a surplus of $7.6 billion, a historic high for May. Outbound shipments of all major products achieved growth, namely semiconductors, displays, computers and peripherals and mobile phones. Semiconductor exports advanced date2022-06-14

Trade Minister holds talks on sidelines of OECD 2022 Ministerial Council

Trade Minister Ahn Duk-geun met with European Commissioner for Trade Valdis Dombrovskis on June 9 at the OECD Paris Headquarters on the sidelines of the “2022 Meeting of the OECD Council at the Ministerial Level (MCM)” and discussed the new Korean regime’s vision and goals based on freedom, creativity and fairness, and exchanged views regarding the Korea-EU FTA implementation, climate change, digital economy and supply chain cooperation.   Minister Ahn also met with Sout date2022-06-14

Trade Minister attends OECD Ministerial Meeting

Trade Minister Ahn Duk-geun attended the '2022 Meeting of the OECD Council at the Ministerial Level (MCM)' in Paris on June 10 under the theme of 'The future we want: better policies for the next generation and a sustainable transition.”   Minister Ahn discussed measures for preventing unfair competition from trade distortions and carbon leakage, carbon reduction policy adjustments and efficiency improvement.   The meeting was attended by 38 countries, consisting of both OECD date2022-06-13

2nd Vice Minister holds Critical Minerals Supply Chain Inspection Meeting

Trade, Industry and Energy 2nd Vice Minister Park Il-jun presided the Critical Minerals Supply Chain Inspection Meeting at the Lotte Hotel Seoul on June 9 to assess various challenges faced by domestic companies in the critical minerals market and to seek response measures amid the Ukraine crisis.   Noting that “global decarbonization initiatives are raising demand for rare earth elements, lithium, nickel, and such critical minerals,” the Vice Minister facilitated di date2022-06-13

1st Vice Minister attends 23rd Steel Day ceremony

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the 23rd Steel Day ceremony held on June 9 at the POSCO Center Art Hall, where steel industry CEOs gathered to discuss domestic supply chain stabilization measures and mid-to-long term competitiveness strengthening solutions, followed by an ESG mutual growth fund agreement signing ceremony.   In his congratulatory message, Vice Minister Jang asserted the need for “a private-sector-led, government-backed economic st date2022-06-13

Minister Lee visits FOMEK

Trade, Industry and Energy Minister Lee Chang-yang visited the Federation of Middle Market Enterprises of Korea (FOMEK) in Seoul on June 8 to discuss policy directions for middle market companies with FOMEK Chairman Choi Jin-sik, and gathered concerns and suggestions voiced across industry circles. date2022-06-10

Trade Minister holds talks on the sidelines of OECD 2022 Ministerial Council

Trade Minister Ahn Duk-geun held bilateral talks with EU Trade Commissioner Valdis Dombrovskis and OECD Secretary-General Mathias Cormann, respectively, on the occasion of the OECD 2022 Ministerial Council Meeting through June 9-10 in Paris. First, Minister Ahn met with Commissioner Valdis Dombrovskis on June 9, where the two trade chiefs discussed the Korea-EU FTA, digital, supply chain, environment and other new trade issues. Trade Minister Ahn urged the EU to closely coordinate with the Sou date2022-06-10

Minister Lee meets with UAE Industry and Advanced Tech Minister

Trade, Industry and Energy Minister Lee Chang-yang held talks with Sultan Ahmed Al-Jaber, Minister of Industry and Advanced Technology of UAE on June 8 at the Lotte Hotel Seoul to discuss Korea-UAE industrial technology and energy supply chain cooperation. date2022-06-10

Korea and UAE to kick energy and tech cooperation into high gear

Trade, Industry and Energy Minister Lee Chang-yang met with Sultan Ahmed Al-Jaber, Minister of Industry and Advanced Technology of UAE and CEO of Abu Dhabi National Oil Company (ADNOC) at the Lotte Hotel Seoul on June 8 to discuss industrial technology and energy supply chain cooperation. The two industry chiefs agreed to expand economic cooperation onto new industries like digital transition, e-learning and bio based on the recent joint accomplishments, including the Barakah power plant, oilfi date2022-06-10

5th round of Korea-GCC FTA negotiations

The Ministry of Trade, Industry and Energy (MOTIE) chief FTA negotiator Lee Kyung-sik led the South Korean delegation in the 5th round of Korea-GCC FTA negotiations held through June 6-9 in Riyadh, Saudi Arabia. The 4th round of negotiations were held in March this year after a 13-year hiatus, where the two sides discussed their respective areas of interest. In the 5th round, talks cover products, services, investment, e-commerce, customs clearance, sanitary and phytosanitary measures (SPS), te date2022-06-09