-
FTA/Economic Cooperation
Minister Paik discusses with US Trade Representative
Trade, Industry and Energy Minister Paik Ungyu (right) and United States Trade Representative (USTR) Robert Lighthizer discussed the progress of writing a draft for Korea-U.S. Free Trade Agreement (FTA) amendments during his visit to the Office of the USTR in Washington, D.C. on April 23 (U.S. Eastern time).Accompanied by the Korean delegation for Korea-U.S. FTA negotiations, Minister Paik confirmed with Trade Representative Lighthizer that both sides have made a significant step forward in the date2018-04-24
-
FTA/Economic Cooperation
Trade Minister Kim meets with Myanmarese counterpart
Trade Minister Kim Hyun-chong (right) co-chaired a meeting with Myanmar’s Commerce Minister Than Myint to have detailed discussion on economic cooperation between the two countries during his visit to Naypyidaw, Myanmar on April 23 (Myanmar time).During the meeting, Trade Minister Kim suggested the designation of special economic zone for the Korea-Myanmar Economic Cooperation Industrial Complex that is currently under development in the north of Yangon to provide benefits, such as date2018-04-23
-
FTA/Economic Cooperation
Korea to enhance economic ties with Myanmar
Trade Minister Kim Hyun-chong (third from left) met with Myanmar’s State Counsellor Daw Aung San Suu Kyi (center) to have a discussion on efforts to enhance economic ties between the two countries in Naypyidaw, Myanmar on April 23 (Myanmar time).The visit to Myanmar by Trade Minister Kim was the first by a Korean ministerial-level official since President Moon Jae-in’s administration took office in May last year.During the meeting, Trade Minister Kim said that Korea’s economic date2018-04-23
-
FTA/Economic Cooperation
Minister Paik seeks energy cooperation with IDB in Washington, DC
Trade, Industry and Energy Minister Paik Ungyu (right) signed a memorandum of understanding for energy cooperation with Inter-American Development Bank (IDB) President Luis Alberto Moreno at the IDB president’s office in Washington, D.C. on April 19 (Eastern U.S. time).During his visit to the IDB, Minister Paik emphasized that Korea’s expertise in plant and infrastructure construction can contribute to economic development in Central and South America.Key areas of energy cooperation date2018-04-20
-
Trade/Investment
Vice Minister Lee discusses with Ghanaian ministers in Sejong
Trade, Industry and Energy Vice Minister Lee Inho (third from left) discussed with Ghanaian Education Minister Matthew Opoku Prempeh (third from right) and Energy Deputy Minister Joseph Cudjoe (second from right) at the Government Complex in Sejong on April 19.During the discussion, the ministers exchanged views on industrial and economic cooperation between the two countries regarding trade and investment as well as construction of energy infrastructure. date2018-04-19
-
Industry
Trade surplus in industrial materials, components exports set record $30.8 billion in Q1
The Ministry of Trade, Industry and Energy announced on April 19 that trade surplus in industrial materials and components in the first quarter of 2018 set a record USD 30.8 billion.Exports of 11 types of materials and components rose 13.3 percent year-on-year to $74.4 billion, the second highest value of all-time. Exports of both materials and components achieved double-digit growths of 14.0 percent and 13.0 percent, respectively.Imports in this sector grew to $43.6 billion, up 8.2 percent from date2018-04-19
-
Trade/Investment
Minister Paik presides over investment roundtable in New York
Trade, Industry and Energy Minister Paik Ungyu (center) posed for a photo with American investors at the 2018 Korea-U.S. Investment Roundtable at a hotel in New York on April 18.The Ministry organized the event to attract more investment from the U.S., promoting cooperation between the two countries for technology development in preparation for the Fourth Industrialization Revolution.In his opening remarks, Minister Paik emphasized that Korea’s exemption from U.S. steel tariffs and the agr date2018-04-19
-
Trade/Investment
ICT exports post second highest record of $19.1 billion in March
The Ministry of Trade, Industry and Energy announced on April 18 that exports of information and communication technology (ICT) goods posted the second highest monthly record of USD 19.1 billion in March.Exports of ICT goods were up 18.6 percent from a year earlier, achieving double-digit year-on-year growth for the 16th consecutive month since December 2016.ICT imports also rose 4.5 percent year-on-year to $9.1 billion, and the trade surplus in this sector stood at $10.1 billion.The double-digi date2018-04-18
-
Trade/Investment
Ministry hosts Global Project Plaza 2018 in Seoul
Deputy Minister for Trade Kang Sung-chun (center) posed for a photo with representatives of foreign agencies that are planning industrial projects at the Global Project Plaza 2018 in Seoul on April 17.The Global Project Plaza 2018, scheduled to be held from April 17 to 19, is hosted by the Ministry of Trade, Industry and Energy together with the Korea Trade-Investment Promotion Agency (KOTRA) and Korea Plant Industries Association (KOPIA) to help Korean construction companies and plant builders date2018-04-17
-
Energy
Vice Minister Lee speaks at 16th International Energy Forum in New Delhi
Trade, Industry and Energy Vice Minister Lee Inho (center) explained Korea’s cases of energy innovation at the 16th International Energy Forum held in New Delhi, India from April 10 to 12 (India time).During a presentation on the last day of the three-day forum, Vice Minister Lee highlighted the importance of technology innovation for improving energy efficiency and sustainability, gave examples of Korea’s original energy technologies, and introduced Korea’s energy transformati date2018-04-12