Ministry of Trade, Industry and Energy

Vice Minister Woo hosts 5th meeting of working group for Korea-US trade issues

Trade, Industry and Energy Vice Minister Woo Taehee (left) hosted the fifth meeting of the working group, created to respond to the changing environment in trade with the U.S., on January 19 at the Government Complex Seoul in central Seoul. At the meeting with about 20 officials from other ministries and public and private institutions, Vice Minister Woo shared the outcomes of the fourth Korea-U.S. FTA Joint Committee meeting  on January 12 and information on trade policies of the new U.S. date2017-01-19

Vice Minister Woo hosts 4th meeting of task force for Korea-China trade issues

The Ministry of Trade, Industry and Energy announced on January 17 that it hosted the fourth meeting of the pan-government task force on Korea-China trade issues to review the latest concerns raised by domestic industries.     Trade, Industry and Energy Vice Minister Woo Taehee presided the meeting, which was joined by officials from other relevant ministries including the Ministry of Foreign Affairs and the Ministry of Culture, Sports and Tourism as well as representatives from vari date2017-01-17

Industrial materials, components exports return to growth in 4Q

The Ministry of Trade, Industry and Energy announced on January 16 that exports of industrial materials and components returned to growth in the fourth quarter last year after six quarters of contraction.    Exports of materials and components rose by 2 percent to USD 66.3 billion from the same quarter of 2015, on the back of the recovery of export prices to positive territory for the first time in two years.   Imports in the sectors rebounded along in the fourth quarter, up 1 date2017-01-16

Korea, China hold 1st FTA Joint Committee meeting in Beijing

The Ministry of Trade, Industry and Energy announced on January 13 that the Korea-China Free Trade Agreement (FTA) Joint Committee held the first meeting in Beijing, China to review the implementation of the bilateral trade pact, one year after it entered into force in December 2015.    The high-level Joint Committee, established under the Korea-China FTA, oversees its implementation and resolves trade-related issues. Its first meeting was co-chaired by Director General for Trade Coo date2017-01-13

Korea, U.S. host 4th KORUS FTA Joint Committee meeting in Seoul

The Ministry of Trade, Industry and Energy announced on January 12 that the fourth meeting of the Korea-U.S. Free Trade Agreement (KORUS FTA) Joint Committee was held in Seoul to review the implementation of the bilateral trade pact.    The fourth meeting of the high-level Joint Committee, established under the KORUS FTA, was attended by Deputy Minister for Trade, Ministry of Trade, Industry and Energy Lee Inho, Assistant U.S. Trade Representative for Japan, Korea and APEC Michael Be date2017-01-13

Vice Minister Woo delivers speech at 1st 'Energy Future Forum' for 2017

Trade, Industry and Energy Vice Minister Woo Taehee delivered a speech on the 2017 energy policy direction at this year’s first 'Energy Future Forum' in Seoul on January 13.    The Energy Future Forum is a monthly meeting, first held in 2011, that provides the energy industry and other related industries with the opportunity to discuss the latest energy issues. This regular forum is organized by the Association of Energy Future Forum (AEFF), a non-profit organization with aroun date2017-01-13

Korea, China, Japan agree to accelerate FTA talks

The Ministry of Trade, Industry and Energy announced on January 12 that top trade officials from Korea, China and Japan agreed at a meeting held in Beijing last Monday to Wednesday to accelerate the free trade negotiations for the 11th round of Korea, China, Japan FTA talks.  The meeting, as the first trilateral high-level negotiation held since June last year, was attended by Deputy Minister for Trade Negotiations Lee Sang-jin of the Ministry of Trade, Industry and Energy, and his counter date2017-01-12

Korea, China and Japan hold 11th round of FTA talks in Beijing

Deputy Minister for Trade Negotiations Lee Sang-jin of Korea’s Ministry of Trade, Industry and Energy (right) poses with China’s Vice Minister of Commerce Wang Shouwen (center) and Japan’s Deputy Foreign Minister for Economic Affairs Keiichi Katakami (left) during the 11th round of trilateral FTA negotiations in Beijing on January 11.    This was the first trilateral gathering of senior-level trade officials since the decision to accelerate the free trade talks duri date2017-01-11

Korea’s auto production and sales decline in 2016

The Ministry of Trade, Industry and Energy announced on January 11 that Korea’s auto production, domestic sales and exports all appear to have slowed in 2016 despite some numbers having bounced back towards the year-end. Data revealed that although car production and exports in December rose 5.9 percent to 434,877 units and 6.3 percent to 300,242 units, respectively, from a year earlier, domestic sales dropped year-on-year by 7.2 percent to 186,035 units. However, when compared to the mon date2017-01-11

Vice Minister Woo hosts 'trade policy forum'

Trade, Industry and Energy Vice Minister Woo Taehee (second from right) held a 'trade policy forum' in Seoul on January 11 to discuss in advance some of the pending trade issues facing each industry and possibly construct potential countermeasures. Some of the key industry leaders including Kim Yong-geun, president and CEO of the Korea Automobile Manufacturers Association; Song Jae-bin, vice chairman of the Korea Iron and Steel Association; and Lim Seung-yoon, vice chairman of the Korea Petroch date2017-01-11