Ministry of Trade, Industry and Energy

1st Vice Minister holds 21st Industrial Security TF Meeting

Trade, Industry and Energy 1st Vice Minister Park Jin-kyu held the 21st Industrial Security TF Meeting at the Korea Trade Insurance Corporation (K-SURE) headquarters in Seoul, to assess difficulties facing Korean businesses amidst the Russia-Ukraine crisis and to discuss viable countermeasures.   In his opening remarks, the Vice Minister stated that as “Russia-Ukraine situation is becoming more protracted and severe and major countries’ sanctions and risk factors are also incr date2022-03-14

Trade Minister holds Public-Private Russia Trade and Investment Countermeasures Meeting

Trade Minister Yeo Han-koo held an emergency Public-Private Russia Trade and Investment Countermeasures Meeting at the Korea Chamber of Commerce and Industry (KCCI) in Seoul on March 3 to address the Russian government’s announcement of 48 “unfriendly” countries list and related repercussions.   Minister Yeo gave an opening message stating that “Korea, as a responsible member of the international community, has decided to partake in the sanctions against Russia, as date2022-03-11

Trade Minister holds Korea-US talks on sanctions against Russia and related trade issues

Trade Minister Yeo Han-koo held talks with United States Deputy Secretary of Commerce Don Graves and Trade Representative (USTR) Katherine Tai in Washington D.C. on Mar 3 and Mar 4, respectively, to discuss Korea-US sanctions against Russia, the Indo-Pacific Economic Framework (IPEF), Section 232 steel tariffs, and related trade policy coordination issues.  date2022-03-11

Industrial Digital Transformation (DX) Task Force is launched

  Trade, Industry, and Energy Minister Moon Sung-wook announced on March 7 the launching of the “Industrial Digital Transformation (DX) Task Force” for a coordinated push to effectuate a digital transition across industry sectors. The aim of this move is to swiftly roll out the details settled under the “Special Act to Accelerate Industrial Digital Transformation” passed by the national assembly last December, set for enforcement on July 5, in order to accelerate t date2022-03-11

Minister Moon attends Technical University of Korea (TUKOREA) Vision Declaration Ceremony

Trade, Industry, and Energy Minister Moon Sung-wook attended the vision declaration ceremony of Technical University of Korea (TUKOREA) in Siheung City, Gyeonggi-do on March 4.   Formerly called Korea Polytechnic University, TUKOREA celebrated the launching of its new title at the declaration ceremony, where Minister Moon delivered a congratulatory message. Emphasizing the importance of nurturing tech-talented youth in achieving green and digital industry transformation, he expressed anti date2022-03-08

MOTIE holds 4th public-private joint offshore wind power TF meeting

Trade, Industry and Energy 2nd Vice Minister Park Ki-young held the 4th public-private joint offshore wind power TF meeting at the New and Renewable Energy Village Convention Hall in Buan-gun of North Jeolla Province on March 3 to inspect the 2GW project progress.   The Energy Minister delivered an opening message emphasizing that “offshore wind power is essential in achieving carbon neutrality and NDC goals”, and called for active participation of relevant institutions in man date2022-03-08

Korea and Ecuador agree to resume SECA negotiations

Trade Minister Yeo Han-koo held online talks with Ecuador’s Production, Foreign Trade, Investment and Fisheries Minister Julio José Prado on Mar 2 in Mexico City to hold a virtual signing ceremony for resuming the Korea-Ecuador Strategic Economic Complementation Agreement (SECA) negotiations after a 5-year hiatus. The trade chiefs addressed the commemoration of the 60th anniversary of Korea-Ecuador diplomatic relations, and agreed to put in efforts for reaching a SECA agreement by date2022-03-08

Korea and Mexico agree to resume FTA talks

Trade Minister Yeo Han-koo held talks with Mexican Secretary of Economy Tatiana Clouthier on Mar 1 in Mexico City and agreed to resume the two countries’ halted FTA talks after a 14-year hiatus, on the occasion of the 60th anniversary of the establishment of Korea-Mexico diplomatic relations. Korea and Mexico presently share the same concerns over the rising risks of global supply chains from COVID-19 and the Ukraine situation, but anticipate that a bilateral FTA will act as a strategic l date2022-03-07

Korea-Hungary Ministers hold Closing Ceremony of the 4th Joint Commission on Economic Cooperation

Trade, Industry, and Energy Minister Moon Sung-wook held the closing ceremony of the 4th Korean-Hungarian Joint Commission on Economic Cooperation on Mar 3 at the Plaza Hotel Seoul with Hungarian Finance Minister Mihály Varga.   The two leaders agreed to promote close cooperation between their countries’ public institutions with regard to resolving difficulties faced by Korean companies in Hungary, in order to not only improve the investment environment, but also to expand bi date2022-03-04

Korea and Ecuador restart SECA negotiations

Trade Minister Yeo Han-koo held online talks with Ecuador's Production, Foreign Trade, Investment and Fisheries Minister Julio José Prado on Mar 2 in Mexico City to hold a virtual signing ceremony for restarting the temporarily halted Korea-Ecuador Strategic Economic Complementation Agreement (SECA) negotiations.  They also agreed to broaden their cooperation on global trade issues like supply chain, digital, carbon reduction, as well as the Comprehensive and Progressive Agreem date2022-03-04