Ministry of Trade, Industry and Energy

2nd special session of KORUS FTA Joint Committee takes place in Washington DC

Trade Minister Kim Hyun-chong (third from right) and United States Trade Representative Robert Lighthizer (third from left) co-chaired the second special session of the Korea-U.S. Free Trade Agreement (KORUS FTA) Joint Committee on October 4 in Washington, D.C.  The Korean and U.S. governments held the second special session of the KORUS FTA Joint Committee in order to continue discussions on the bilateral trade pact with a view to further improving its benefits to both sides.  The s date2017-10-05

2nd special session of KORUS FTA Joint Committee held in Washington DC

The Ministry of Trade, Industry and Energy announced that the Ministry and the United States Trade Representative (USTR) convened the second session of the Korea-U.S. Free Trade Agreement (KORUS FTA) Joint Committee on October 4 in Washington, D.C. to continue discussions on the bilateral trade deal.    Trade Minister Kim Hyun-chong and U.S. Trade Representative Robert Lighthizer co-chaired the special session of the Joint Committee established under the KORUS FTA. Trade Minister Kim date2017-10-05

Korea’s exports hit a record $55.1 billion in September

The Ministry of Trade, Industry and Energy announced on October 1 that Korea’s exports reached an all-time high of USD 55.1 billion in September, soaring 35 percent from a year earlier.   The strongest performance since the Korean government started tracking trade data in 1956 was achieved as exports of semiconductors and steel hit record highs and various sectors posted double-digit growths in exports.    The growth rate is the highest in 80 months since January 2011, a date2017-10-01

Fast growing e-commerce boosts retail sales by 4.3% in August

The Ministry of Trade, Industry and Energy announced on September 29 that retail sales increased 4.3 percent to 9.81 trillion won in August on a double-digit growth in online revenues.   Online sales, which account for about a third of the total retail sales, jumped 13.1 percent from a year earlier, while in-store revenues inched up 0.4 percent.    Web-based sales returned to a double-digit year-on-year growth after recording a 4.4-percent increase in July. In-store sales grew date2017-09-29

Minister Paik shares policy directions with foreign investors

Trade, Industry and Energy Minister Paik Ungyu (second from left) spoke at the Ministerial Roundtable for Investors in a hotel in downtown Seoul on September 26. The Ministerial Roundtable for Investors was organized by the Ministry of Trade, Industry and Energy to inform foreign investors the directions of the new government’s economic policies and stable policies on foreign investment. The roundtable was also designed to resolve foreign investors’ concerns stemming from external a date2017-09-26

Korea, India sign agreed minutes at 3rd CEPA Joint Committee meeting

Trade Minister Kim Hyun-chong (left) and India’s Minister of Commerce and Industry Suresh Prabhu posed for a photo with the signed agreed minutes at the third meeting of the Joint Committee on the Korea-India Comprehensive Economic Partnership Agreement (CEPA) held on September 23 at the COEX in southern Seoul. Trade Minister Kim and Minister Prabhu signed the agreed minutes after discussing the Korea-India CEPA, bilateral industrial and technological cooperation, import regulations, and date2017-09-23

Ministry hosts 7th ASEM Economic Ministers’ Meeting in Seoul

Trade, Industry and Energy Minister Paik Ungyu (center) delivered a speech at the opening ceremony of the seventh ASEM (Asia-Europe Meeting) Economic Ministers’ Meeting (ASEM EMM) at the COEX in southern Seoul on September 22. In his opening remarks, Minister Paik called for ASEM member countries’ joint responses to protectionism and support for multilateral trade system.  During the meeting, themed “Innovative Partnership for Inclusive Prosperity of Asia and Europe,&rdq date2017-09-22

ASEM economic ministers voice support for free, multilateral trade system

The Ministry of Trade, Industry and Energy announced on September 22 that members of the Asia-Europe Meeting (ASEM) voiced their support for free trade and multilateral trade regime at the seventh ASEM Economic Ministers’ Meeting (ASEM EMM) in Seoul.    Economic ministers and high-level officials from the 51 ASEM members adopted a joint statement that supports multilateral trade system and calls for joint response to protectionism. The statement also urged ASEM members to make date2017-09-22

Minister Paik discusses economic cooperation with Swedish Trade Minister

Trade, Industry and Energy Minister Paik Ungyu (left) posed for a photo with Sweden’s Minister for EU Affairs and Trade Ann Linde during their meeting at the Government Complex Seoul in downtown Seoul on September 20.  Minister Paik expressed his gratitude for the Swedish Minister’s participation in the seventh ASEM (Asia-Europe Meeting) Economic Ministers’ Meeting, which the Ministry of Trade, Industry and Energy is hosting in Seoul on September 21 and 22. The two Minist date2017-09-20

Korean, US trade ministers meet in Washington DC

The Ministry of Trade, Industry and Energy announced that Trade Minister Kim Hyun-chong met with United States Trade Representative (USTR) Robert Lighthizer on September 20 in Washington D.C. to discuss the Korea-U.S. Free Trade Agreement (KORUS FTA).    During the meeting, the Korean side proposed a second special session of the Joint Committee under the KORUS FTA to continue talks on matters discussed in the first special session held on August 22 in Seoul.    Based on date2017-09-20