Ministry of Trade, Industry and Energy

Trade Minister Yoo meets with Canada’s Trade Diversification Minister

Trade Minister Yoo Myung-hee (left) had a meeting with Canadian International Trade Diversification Minister Jim Carr in Seoul on June 10.The Ministers discussed a range of issues with a focus on bilateral trade, including the implementation of the Korea-Canada Free Trade Agreement. date2019-06-10

Korea, UK sign bilateral free trade agreement in principle in Seoul

Trade Minister Yoo Myung-hee (left) signed a Korea-UK free trade agreement in principle with UK Secretary of State for International Trade Liam Fox in Seoul on June 10.The agreement was reached to ensure the stability and continuity of the trade between the two countries ahead of Britain’s exit from the European Union. date2019-06-10

Trade Minister Yoo meets with WTO Director-General Azevêdo

Trade Minister Yoo Myung-hee (right) met with World Trade Organization Director-General Roberto Azevêdo on June 9 on the occasion of the G20 Ministerial Meeting on Trade and Digital Economy held in Tsukuba, Japan.The two officials discussed various issues, including WTO reforms and concerns about the functioning of the WTO’s Appellate Body. date2019-06-10

Trade Minister Yoo attends G20 Ministerial Meeting on Trade and Digital Economy

Trade Minister Yoo Myung-hee (third from the left) attended the G20 Ministerial Meeting on Trade and Digital Economy held in Tsukuba, Japan, from June 8 to 9.During the discussion on the interface between trade and the digital economy, Trade Minister Yoo said creating rules for digital trade highlights a balance between free data flows and privacy protection as well as a multilateral agreement on minimum standards for technology and regulations. She emphasized that e-commerce negotiations at the date2019-06-10

Trade Minister Yoo meets with India’s Commerce Minister in Japan

Trade Minister Yoo Myung-hee (left) met with India’s Minister of Commerce and Industry Piyush Goyal on June 8 at the G20 Ministerial Meeting on Trade and Digital Economy held in Tsukuba, Japan.The Ministers reconfirmed the agreement that the two sides will strike a deal within this year to enhance the Korea-India Comprehensive Economic Partnership Agreement (CEPA). As part of this effort, they agreed to find ways to accelerate the negotiations at a June meeting. date2019-06-10

Minister Sung attends opening ceremony of ‘Startup Branch’ in Seoul

Trade, Industry and Energy Minister Sung Yun-mo delivered congratulatory remarks at the opening ceremony of the “Startup Branch” held at COEX in Seoul on June 4.Cooperating with overseas branches located in cities such as Seattle, New York, and Dubai, the Startup Branch is expected to serve as a local hub that supports startups for their exports, investment, strategic alliance, and technological innovation.The Startup Branch will run a range of programs to assist growth and innovatio date2019-06-04

Trade Minister Yoo visits job fair for foreign-invested firms in Korea

Trade Minister Yoo Myung-hee (second from the right) attended the opening ceremony of the 14th Job Fair for Foreign-Invested Companies held at COEX in Seoul on June 4.The job fair was organized to provide opportunities for both foreign companies and job seekers. Foreign businesses can promote themselves and recruit talented individuals while prospective job applicants can find quality employment.Scheduled to take place until June 5, the event attracted a total of 159 companies from Europe, Asia, date2019-06-04

Korea, Philippines launch free trade negotiations in Seoul

Trade Minister Yoo Myung-hee (right) and the Philippines’ Secretary of Trade and Industry Ramon M. Lopez signed a joint declaration to launch negotiations for a free trade agreement between Korea and the Philippines at a ceremony held in Seoul on June 3.During the event, Trade Minister Yoo said the Korea-Philippines FTA will provide opportunities for both countries to significantly expand their trade and investment. She emphasized that by removing tariffs and non-tariff barriers, the bilat date2019-06-03

Korea’s May exports decrease 9.4% to $45.9 billion

The Ministry of Trade, Industry and Energy announced on June 1 that Korea’s exports in May decreased 9.4 percent to USD 45.9 billion compared to the same period a year earlier. Imports fell 1.9 percent to $43.6 billion, resulting in a trade surplus of $2.3 billion.The slowdown in exports was mostly due to an intensifying U.S.-China trade dispute, a sluggish semiconductor industry, and a slowing Chinese economy. Exports in volume terms, however, inched up 0.7 percent, continuing to grow for date2019-06-01

Korea holds nationwide seminars on manufacturing robots

Trade, Industry and Energy Vice Minister Cheong Seung-il (right) made opening remarks at a presentation seminar held to promote the use of robots in the manufacturing industry in Siheung, southwest of Seoul, on May 30.At the seminar, potential robot users were introduced to the process and effectiveness of robot implementation from companies with the best practices of robot usage. Robot makers were also present to introduce their products and explain their applications. At the same time, researc date2019-05-30