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FTA/Economic Cooperation
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
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Trade/Investment
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
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Industry
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
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Industry
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
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Trade/Investment
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
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Industry
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
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Trade/Investment
Trade Minister Yoo meets with US Commerce Secretary Ross in Washington
Trade Minister Yoo Myung-hee (right) met with United States Department of Commerce Secretary Wilbur Ross in Washington, D.C., on May 14 (local time).During the meeting, the two top officials explored ways to expand trade and investment between the two countries. Trade Minister Yoo also explained Korea’s stance on Section 232 auto tariffs. date2019-05-15
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Industry
Industry Ministry hosts ‘Korea Eureka Day 2019’ in UK
Trade, Industry and Energy Vice Minister Cheong Seung-il (third from the left) delivered welcoming remarks at the opening ceremony of “Korea Eureka Day 2019” held in Manchester, UK, on May 14 (local time).During his speech, Vice Minister Cheong said in times of accelerating technological innovation and shifting global value chains, the competitiveness of products depends on that of core technologies. He also hoped that the EUREKA network would expand its scope and depth of cooperatio date2019-05-15
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Industry
Vice Minister Cheong attends EUREKA Global Innovation Summit 2019 in UK
Trade, Industry and Energy Vice Minister Cheong Seung-il (second from the left) received an appreciation plaque from UK Minister of State Chris Skidmore (left) for Korea’s 10-year participation in the EUREKA network at an event held in Manchester, UK, on May 14 (local time).Upon receiving the plaque at the EUREKA Global Innovation Summit, Vice Minister Cheong said the EUREKA network has expanded the horizon of technological cooperation between Korea and Europe. He also thanked EUREKA membe date2019-05-15
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Industry
Minister Sung meets with Uzbek Public Health Minister in Seoul
Trade, Industry and Energy Minister Sung Yun-mo (left) had a meeting with Uzbekistan’s Public Health Minister Shadmanov Alisher Kayumovich in the Government Complex Seoul on May 14.The two Ministers discussed bilateral cooperation in bio-health and digital healthcare as well as subsequent efforts following the presidential summit that took place in April. date2019-05-14