Ministry of Trade, Industry and Energy

Korea’s auto output, exports in May see year-on-year increases

The Ministry of Trade, Industry and Energy announced on June 13 that the Korea’s automobile production increased 4.1 percent to 366,152 vehicles in May compared to the same period last year.This growth in output was mostly attributable to higher overseas demand and more working days. The local car manufacturers are Hyundai Motor, Kia Motors, GM Korea, Ssangyong Motor, Renault Samsung Motors, Zyle Daewoo Bus, and Tata Daewoo.Exports also improved 6.1 percent year-on-year to 226,096 vehicles date2019-06-13

Korea, Norway to cooperate on shipbuilding, robotics

Trade, Industry and Energy Minister Sung Yun-mo (fourth from the left) attended a memorandum of understanding (MOU) signing ceremony for industrial cooperation between Korea and Norway held in Oslo on June 12 (local time).On the occasion of President Moon Jae-in’s state visit to Norway, a total of four MOUs on shipbuilding and robotics were signed and two Korean ship construction technologies were approved between Seoul and Oslo’s industries.With the MOUs, concerted efforts will be m date2019-06-13

Minister Sung tours Institute for Molecular Medicine Finland

Trade, Industry and Energy Minister Sung Yun-mo (second from the left) and Science and Technology Advisor to the President Lee Kong-joo toured the Institute for Molecular Medicine Finland (FIMM) located in Helsinki on June 11 (local time) on the occasion of President Moon Jae-in’s state visit to Finland.At the research center, the top officials were briefed by FIMM’s Director Mark Daly and Research Director Johan Lundin on FinnGen, a large scale genome study, as well as digital diagn date2019-06-12

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