Ministry of Trade, Industry and Energy

Minister Paik discusses energy ties with UK’s Energy Secretary

Trade, Industry and Energy Minister Paik Ungyu (right) posed for a photo with Secretary of State for Business, Energy and Industrial Strategy (BEIS) Greg Clark during his visit to London, United Kingdom, on November 27.  During their meeting, Minister Paik and his counterpart Secretary Clark discussed ways of expanding cooperation in the nuclear power sector, ranging from construction and decommissioning of nuclear power plants, and promoting technological cooperation as part of efforts to date2017-11-27

Minister Paik attends Korea-Uzbekistan Business Forum

Trade, Industry and Energy Minister Paik Ungyu (third from left) posed for a photo with Uzbekistan’s President Shavkat Mirziyoyev (center) as well as government officials and business leaders from Korea and Uzbekistan at the Korea-Uzbekistan Business Forum at a hotel in Seoul on November 23.  The Korea Chamber of Commerce and Industry (KCCI) hosted the Business Forum with the Ministry of Trade, Industry and Energy and Uzbekistan’s National Investment Commission to celebrate the date2017-11-23

Trade Minister discusses economic cooperation with Russia’s Deputy Minister of Economic Development

Trade Minister Kim Hyun-chong (left) shook hands with Russia’s Deputy Minister of Economic Development Aleksey Gruzdev during his visit to Moscow, Russia on November 21.  Trade Minister Kim and Deputy Minister Gruzdev exchanged views on bilateral economic cooperation as well as a potential free trade agreement between Korea and the Eurasian Economic Union (EAEU). Member states of the EAEU include Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.    date2017-11-21

Minister Paik meets Uzbekistan’s Deputy Prime Minister

Trade, Industry and Energy Minister Paik Ungyu (left) greeted Uzbekistan’s Deputy Prime Minister Jamshid Anvarovich Kuchkarov in his office at the Government Complex in Sejong on November 20. During the meeting, Minister Paik and Deputy Prime Minister Kuchkarov exchanged views on establishing a platform for e-commerce between the two countries. They also discussed assistance for Uzbekistan’s accession to the World Trade Organization (WTO) and joint studies into a free trade agreemen date2017-11-20

ICT exports rise 20.6% to $18 billion in October

The Ministry of Trade, Industry and Energy announced on November 15 that exports of information and communication technology goods rose by 20.6 percent to USD 18 billion, the second highest on record, in October from a year ago.   For nine consecutive months between February and October, Korea’s ICT sector posted record-high exports for each respective month. Exports of ICT goods also grew at double-digit rates for 11 straight months.   Imports in the ICT sector advanced 11 p date2017-11-15

Korea, Philippines hold bilateral ministerial meeting

Trade, Industry and Energy Minister Paik Ungyu (second from right) spoke with the Philippine’s Secretary of Trade and Industry Ramon M. Lopez (second from left) during the bilateral ministerial meeting in a resort in Danang, Vietnam.  Minister Paik and Secretary Lopez discussed bilateral trade as well as a wide range of cooperation including in fields of electric vehicles and infrastructure.    date2017-11-13

Minister Paik discusses trade, investment with Vietnam’s Industry Minister

Trade, Industry and Energy Minister Paik Ungyu (fourth from left) discussed bilateral trade and investment with Vietnam’s Industry and Trade Minister Tran Guan Anh (third from right) during a ministerial meeting at the Vietnamese Minister’s office in Hanoi, Vietnam on November 13.  At the meeting, Minister Paik and Minister Tran exchanged views on cooperation on energy infrastructure, trade issues, and support for Korean companies operating in Vietnam.    date2017-11-13

Fewer working days drive down automobile production, exports in October

The Ministry of Trade, Industry and Energy announced on November 9 that automobile production, domestic sales and exports decreased at double-digit rates in October due to fewer working days in the month.    October this year had four fewer working days compared to a year ago because Korea celebrated the Chuseok holiday. The national holiday was in September last year.   Five domestic carmakers – Hyundai Motor, Kia Motors, GM Korea, Ssangyong Motor, and Renault Samsung M date2017-11-09

Minister Paik promotes investment at 2017 Foreign Company Day

Trade, Industry and Energy Minister Paik Ungyu spoke at the 17th Foreign Company Day at a hotel in Seoul on November 7.  The Ministry of Trade, Industry and Energy and the Korea Foreign Company Association (FORCA) co-hosted the annual event to promote foreign investment into Korea.  In his speech, Minister Paik underscored the contribution of foreign companies to the Korean economy – There are more than 17,000 foreign-invested firms registered in Korea and they represent 12 per date2017-11-07

Minister Paik discusses energy cooperation with Russian Minister for Far East Development

Trade, Industry and Energy Minister Paik Ungyu (left) posed for a photo with Russian Minister for the Development of the Russian Far East Alexander Galushka during their meeting at a hotel in Seoul on November 6.  At the meeting, Minister Paik and Minister Galushka exchanged views on stepping up bilateral industrial and energy cooperation. The ministers also discussed new investment projects in the Russian Far East.   date2017-11-06