Ministry of Trade, Industry and Energy

Minister Sung attends Korea-Malaysia MOU signing ceremony

Trade, Industry and Energy Minister Sung Yun-mo (center) attended a memorandum of understanding (MOU) signing ceremony between Korea and Malaysia held in Kuala Lumpur on March 13 (local time).At the ceremony, agencies, companies, and associations from both countries signed a total of three MOUs on industry and energy sectors.During the event, Minister Sung asked for continued efforts, underlining that economic cooperation between the private sectors of the two sides can increase bilateral trade. date2019-03-14

Trade Minister Yoo meets with Slovak Economy Minister Peter Ziga

Trade Minister Yoo Myung-hee (second from the left) had a meeting with Slovakia’s Minister of Economy Peter Ziga (second from the right) in Seoul on March 8.The two ministers discussed a range of issues, including expansion of trade and investment between the two countries. date2019-03-08

Minister Sung presides over meeting with Korean renewable energy leaders

Trade, Industry and Energy Minister Sung Yun-mo (third from the right) presided over a meeting with Korea’s renewable energy leaders at the Korea Chamber of Commerce and Industry (KCCI) in Seoul on March 7.During his opening remarks, Minister Sung emphasized that the nation’s renewables sector needs further growth in order not to miss the opportunity to stay competitive in the global market. In this regard, he asked for more investment activities and overseas expansion efforts.Among date2019-03-07

Minister Sung discusses with Korean businesses in Kazakhstan

Trade, Industry and Energy Minister Sung Yun-mo (third from the left) discussed with Korean businesses in Kazakhstan during his visit to Almaty on March 5 (local time).At the meeting, Minister Sung said that the Korean government seeks to promote economic cooperation with Kazakhstan. He added that the Ministry will explore ways to boost ties between the two countries in areas ranging from industry to energy through bilateral economic meetings.Among the participants in the discussion were Korean date2019-03-07

New Trade Minister takes office

The Ministry of Trade, Industry and Energy’s new Trade Minister Yoo Myung-hee delivered an inaugural speech at her inauguration ceremony held in the Government Complex Sejong on March 5.The ceremony was attended by all members of the Ministry and officials at the director-level or above from the Korean Agency for Technology and Standards (KATS).Trade Minister Yoo’s previous post was Deputy Minister for FTA Negotiations at the Ministry. date2019-03-05

Minister Sung meets with Uzbek Prime Minister Aripov to discuss bilateral economic ties

Trade, Industry and Energy Minister Sung Yun-mo (left) met with Uzbekistan Prime Minister Abdulla Nigmatovich Aripov in Tashkent on March 4.During the meeting, the two ministers discussed means to enhance economic cooperation between the two countries in various areas such as trade, investment, industry, and plant construction. date2019-03-04

Korea, Uzbekistan hold 9th trade and economy meeting in Tashkent

Trade, Industry and Energy Minister Sung Yun-mo (right) co-chaired with Uzbekistan Deputy Prime Minister Ganiev Elyor Majidovich the ninth Korea-Uzbekistan Joint Committee for Trade and Economic Cooperation Meeting held at the International Business Center in Tashkent on March 4 (local time).The two delegations discussed ways of enhancing bilateral ties in an array of areas such as trade and investment, industry and technology, and energy and resources.During his opening remarks at the event, Mi date2019-03-04

Trade Minister Kim gives speech to government officials at his farewell ceremony in Sejong

Trade Minister Kim Hyun-chong delivered a speech to government officials at his farewell ceremony at the Sejong Government Complex on March 4.Among the attendees at the event were all Ministry officials and senior staff from the Korean Agency for Technology and Standards (KATS).Trade Minister Kim was appointed second vice chief of the National Security Office on February 28. date2019-03-04

Korea’s exports decrease 11.1 percent to $39.6 billion in February

The Ministry of Trade, Industry and Energy announced on March 1 that Korea’s exports in February reached USD 39.6 billion, down 11.1 percent from the same period last year.Imports also went down 12.6 percent to $36.5 billion, but the trade balance recorded $3.1 billion, remaining positive for 85 consecutive months.Last month’s exports fell at a faster rate compared to January’s outbound shipments, which declined 5.9 percent year-on-year. However, average exports per working day date2019-03-01

2nd committee meeting approves ‘regulatory sandbox’ program requests for five new business models

Trade, Industry and Energy Minister Sung Yun-mo chaired the second committee meeting on deliberating regulatory exemption and temporary permission requests for five new, high-tech business models at the Korea Technology Center in Seoul on February 27.The primary aim for approving regulatory sandbox programs is to bolster innovation-driven growth by allowing companies and enterprises to keep pace with rapid technological and market changes.After the reviews, the committee agreed to accept all of date2019-02-27