Ministry of Trade, Industry and Energy

Industry Ministry, China’s Jiangsu Province to advance trade, investment ties

Trade, Industry and Energy Minister Sung Yun-mo (left) met with Communist Party Secretary of China’s Jiangsu Province Lou Qinjian in Seoul on May 27.Minister Sung and Secretary Lou discussed ways to promote cooperation between the two sides in industry, trade, and investment.As part of this effort, the two officials signed a memorandum of understanding on improving economic and trade ties. Both sides agreed to enhance collaboration in new industries as well as industrial complexes located date2019-05-27

Trade Minister Yoo meets with Brazil’s Foreign Minister Araújo in Paris

Trade Minister Yoo Myung-hee (left) had a bilateral meeting with Brazil’s Minister of Foreign Affairs Ernesto Araújo on May 23 during her visit to Paris for the 2019 OECD Ministerial Council Meeting.The two sides celebrated the 60th anniversary of bilateral relations between Korea and Brazil, confirmed the necessity of accelerating negotiations for signing the Korea-MERCOSUR trade agreement, and agreed to expand cooperation in various areas such as investment and infrastructure. date2019-05-24

Trade Minister Yoo speaks at 2019 OECD Ministerial Council Meeting in Paris

Trade Minister Yoo Myung-hee (third from the right) spoke at the trade and investment session titled “Reaping and Diversifying the Benefits of Trade in the Digital Era” of the 2019 OECD Ministerial Council Meeting held in Paris from May 22 to 23.To address challenges in the digital era, Trade Minister Yoo suggested ways of building an inclusive digital ecosystem through the promotion of innovation in small and medium-sized enterprises and the expansion of open data. She also mentione date2019-05-24

Minister Sung visits hydrogen fueling station in Anseong

Trade, Industry and Energy Minister Sung visited a hydrogen fueling station in a rest area along an expressway in Anseong, south of Seoul, on May 23.Minister Sung charged his hydrogen vehicle for official use at the site after checking the status of the facility. date2019-05-23

Korea, Brazil to strengthen trade, investment ties

Deputy Minister for FTA Negotiations Yeo Han-koo (left) met with Brazilian Minister of Foreign Affairs Ernesto Araújo to exchange views on a range of issues between the two countries, including the Korea-MERCOSUR trade agreement, in Brasilia on May 20 (local time).Deputy Minister Yeo also gave an opening speech at the Korea-Brazil Forum for Industrial Cooperation held in São Paulo on the following day.During his speech, Deputy Minister Yeo said that the potential for trade expansio date2019-05-22

Exports of Korean ICT goods total $15.2 billion in April

The Ministry of Trade, Industry and Energy announced on May 21 that exports of the Korean information and communications technology (ICT) goods in April totaled USD 15.2 billion, down 10.6 percent compared to a year earlier.Imports grew 9.4 percent to $9.5 billion, and the trade balance stood at a surplus of $5.7 billion.Exports experienced year-on-year declines for six straight months because of a continuous slowdown in semiconductors and displays.By item, shipments of semiconductors, displays, date2019-05-21

Vice Minister Cheong discusses industrial ties with his UK counterparts in London

Trade, Industry and Energy Vice Minister Cheong Seung-il (second from the left) had a series of meetings with the UK’s Parliamentary Under Secretary of State Andrew Stephenson and Permanent Secretary Alex Chisholm at the Department for Business, Energy and Industrial Strategy in London on May 15 (local time).The two sides shared each other’s policy directions and agreed to closely cooperate in new future industries such as artificial intelligence, future cars, and biotechnology as a date2019-05-16

Korean auto industry sees improvement in exports, production in April

The Ministry of Trade, Industry and Energy announced on May 16 that the Korean auto industry exported 223,235 vehicles in April, up 3 percent from a year earlier.The improvement in exports was largely due to robust sales of sport utility vehicles (SUVs) and eco-friendly vehicles in North America and Europe. In terms of value, exports grew 5.8 percent year-on-year to USD 3.8 billion.Outbound shipments of green cars were particularly strong as they amounted to 20,281 units. This 39.3 percent year- date2019-05-16

Trade Minister Yoo meets with US NEC Director Kudlow in Washington

Trade Minister Yoo Myung-hee (left) met with U.S. National Economic Council Director Larry Kudlow to explain Korea’s stance on Section 232 auto tariffs in Washington, D.C., on May 15 (local time). date2019-05-16

Korea strives to spur innovation in bio-health industry

Trade, Industry and Energy Minister Sung Yun-mo (center in the front row) – together with Science and ICT Minister You Young-min, Health and Welfare Minister Park Neung-hoo, Food and Drug Safety Minister Lee Eui-kyung, and Economy and Finance Deputy Minister Bang Ki-sun – joined a public-private discussion for innovation in the bio-health industry in Seoul on May 15.At the meeting, the Ministers and Korean bio-health businesses explored a range of topics including securing technologi date2019-05-15