Ministry of Trade, Industry and Energy

Trade Minister holds Korea-New Zealand talks

Trade Minister Yeo Han-koo held an online meeting with New Zealand Trade and Export Growth Minister Damien O’Connor on February 15. The two trade chiefs exchanged views on major trade issues, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Digital Economy Partnership Agreement (DEPA), and the Indo-Pacific economic framework. Minister Yeo extended request for New Zealand’s support as Korea is currently seeking to submit an official appli date2022-02-17

Trade Minister holds Korea-New Zealand talks

Trade Minister Yeo Han-koo held an online meeting with New Zealand Trade and Export Growth Minister Damien O’Connor on February 15.   The two trade chiefs exchanged views on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Indo-Pacific economic framework, and other major trade issues. The CPTPP involves 11 nations, including New Zealand, Japan, Australia, Canada and Mexico, which accounted for 15 percent of global trade volume as of 2019. &nbsp date2022-02-16

Korea's automobile exports record $4.1 billion in January

The Ministry of Trade, Industry and Energy announced on February 15 that Korea’s automobile output, domestic sales, and exports (units) in January all experienced setbacks and declined 13.7 percent, 19.2 percent, and 6.4 percent, respectively. Exports value climbed by 2.3 percent. Total automobile output in January by Korean automakers dropped 13.7 percent to 271,054 units. Productions slowed due to several factories closing temporarily during national holiday period, and were particularl date2022-02-16

Vice Minister visits Hyundai Motor R&D Center

Trade, Industry and Energy 1st Vice Minister Park Jin-kyu visited the Hyundai Motor Namyang R&D Center in Hwaseong-si, Gyeonggi-do on February 15 for a site tour on the company’s future car development and commercialization. During the visit, Minister Park addressed the employees with an opening message emphasizing the importance of securing technological competitiveness for Korea’s global automobile leadership. Moreover, he assured the Ministry’s continued commitment to p date2022-02-16

Trade Minister visits Switzerland to promote multilateral trade order

Trade Minister Yeo Han-koo visited Geneva, Switzerland through February 9-10 and met with various counterparts to discuss measures for strengthening the multilateral trade order. Minister Yeo met with International Trade Center Executive Director Pamela Coke-Hamilton and discussed prospects for cooperation in training up trade personnel. The meeting was followed by an online trade specialist session together with a local international trade law professor at the Permanent Mission of the Republ date2022-02-15

Minister Moon attends Carbon Neutrality Public-Private Exchange Forum

Trade, Industry, and Energy Minister Moon Sung-wook attended the Energy Industry Carbon Neutrality Public-Private Exchange Forum held at the the Westin Josun Seoul Hotel on February 11 to share energy policy outcomes and future directions. Minister Moon delivered a congratulatory message, which was followed by the event’s keynote speech on the theme of “public-private solidarity and cooperation for technological energy innovation of carbon neutrality.” The forum was organized date2022-02-14

ICT exports achieve $19.7 billion for January

The Ministry of Trade, Industry and Energy announced on February 14 that Korea's exports of information and communications technology (ICT) goods in January expanded 20.7 percent to USD 19.7 billion, recording a historic high export value for January. Imports of ICT products grew 14.4 percent to $12.3 billion, and the trade balance stood at an estimated surplus of $7.3 billion. Month of January saw steady exports growth across small and mid-sized companies (up 24.9 percent to $4.9 billion), d date2022-02-14

Trade Minister holds inaugural Korea-UK FTA Committee Meeting

Trade Minister Yeo Han-koo held the inaugural Korea-UK FTA trade committee meeting with UK’s International Trade Secretary Anne-Marie Trevelyan in London on February 7, a first post-Brexit trade talks between the two countries. This meeting enabled the assessment of the Korea-UK FTA execution status as part of the follow-up measure of the Korea-UK summit talks held in New York in September of last year. Mutual efforts toward their applications to join the Comprehensive and Progressive Agr date2022-02-14

Trade Minister visits Switzerland to promote multilateral trade order

Trade Minister Yeo Han-koo held talks with World Trade Organization Director General Ngozi Okonjo-Iweala on February 10 in Geneva, Switzerland for talks on COVID-19 response, major trade issues, and expanding the Korean presence at the WTO Secretariat. During the two-day stay in Switzerland, the Minister held multiple talks with the chiefs of a number of different international organizations. He met the U.N. Conference on Trade and Development (UNCTAD) Secretary-General Rebeca Grynspan and agre date2022-02-11

Trade Minister holds inaugural Korea-UK FTA Committee Meeting

Trade Minister Yeo Han-koo held the inaugural Korea-UK FTA Committee meeting with UK’s International Trade Secretary Anne-Marie Trevelyan on February 7 in London to discuss the expansion of bilateral trade and collaboration across various areas.   The two trade chiefs touched upon issues ranging from supply chain issues, digital, and climate change response. Also on the table were the Korea-UK new strategic agreement for building supply chain resilience, which is a first for UK wi date2022-02-11