Ministry of Trade, Industry and Energy

Vice Minister Woo meets Nepal’s Energy Minister

Trade, Industry and Energy Vice Minister Woo Taehee (right) met with Nepal’s Minister for Energy Janardan Sharma (second from left) and his delegation in southern Seoul on Monday 20. Vice Minister Woo and Minister Sharma discussed the two countries’ cooperation in the fields of energy and resources. date2017-03-20

Korea, Israel hold 3rd round of FTA negotiations in Seoul

The Ministry of Trade, Industry and Energy announced on March 20 that the third round of negotiations for the Korea-Israel Free Trade Agreement kicked off in Seoul.   The negotiations for the proposed FTA, which will last until March 24, are led by Trade, Industry and Energy Director General for Trade Policy Yeo Han-koo and Foreign Trade Administration Director Rachel Hirshler of Israel’s Ministry of Economy and Industry. The Korean delegation is joined by officials from other relev date2017-03-20

Minister Joo visits 4th International Electric Vehicle Expo

Trade, Industry and Energy Minister Joo Hyunghwan (right) checked out an electric three-wheeler at the fourth International Electric Vehicle Expo (IEVE) held in Yeomiji Botanic Garden in Jeju Island, on March 17.  Minister Joo delivered a congratulatory speech at the opening ceremony of the IEVE and visited the exhibition center.  Launched in 2014 in Jeju Island by the Ministry, the IEVE is the world’s only motor show exclusively for EVs. This year’s expo is held under th date2017-03-17

Minister Joo meets ambassadors of five Gulf states

Trade, Industry and Energy Minister Joo Hyunghwan (third from left) posed for a photo with ambassadors of five member countries of the Gulf Cooperation Council at a dinner in Yeouido, Seoul, on March 16.  From left are Trade, Industry and Energy Director General for Trade Cooperation Kang Myung-soo, Qatari Ambassador to Korea Mohamed bin Abdullah Al-Dehaimi, Minister Joo, Omani Ambassador Mohamed Salim Alharthy, Saudi Ambassador Riyadh bin Ahmed Al-Mubaraki, UAE Ambassador Abdullah Saif Al date2017-03-16

Korea’s ICT exports sets new record in February

The Ministry of Trade, Industry and Energy announced on March 15 that exports of information and communication technology (ICT) goods surged 22.8 percent to USD 14.1 billion in February from a year earlier, setting a new record for the month of February.    Exports of ICT goods grew year-on-year for the fourth consecutive month – and at double-digit rates for the third straight month – on large increases in outbound shipments of semiconductors, displays, and computers and date2017-03-15

Auto production, sales improve in February

The Ministry of Trade, Industry and Energy announced on March 15 that production, domestic sales and exports of automobiles all improved in February from a year earlier, signaling a recovery in the auto sector.   Five domestic carmakers – Hyundai Motor, Kia Motors, GM Korea, SsangYong Motor and Renault Samsung Motors – produced a total of 336,032 vehicles in February, up 9.8 percent from a year earlier on more working days in the month and higher sales at home and abroad.&nbsp date2017-03-15

Minister Joo attends KORUS FTA 5th anniversary seminar

Trade, Industry and Energy Minister Joo Hyunghwan (center) posed for a photo with key Korean and U.S. officials involved in the negotiations or implementation of the Korea-U.S. Free Trade Agreement (KORUS FTA) at the KORUS FTA 5th Anniversary Seminar held in the COEX, southern Seoul, on March 14.  At the event, Minister Joo delivered a congratulatory speech, highlighting the mutually beneficial outcomes of the KORUS FTA and the importance of continuous expansion of bilateral cooperation in date2017-03-14

Korea, 5 Central American nations initial FTA

The Ministry of Trade, Industry and Energy announced on March 13 that Korea and five Central American nations initialed the Korea-Central America Free Trade Agreement, a comprehensive trade pact that will eliminate tariffs and other barriers and consolidate bilateral and multilateral economic cooperation.    On March 10, in San José, Costa Rica, Trade, Industry and Energy Director for FTA Negotiation Coordination Kwon Hyouk-woo and his counterparts from five Central American c date2017-03-13

Minister Joo meets with US counterpart

Trade, Industry and Energy Minister Joo Hyunghwan (right) poses with US Secretary of Commerce Wilbur Ross in Washington on March 8, 2017 (local time).    Korea's trade minister met his new U.S. counterpart during his outreach trip to the U.S., designed to build a channel for economic cooperation and bilateral communication under Donald Trump's administration.  date2017-03-09

Vice Minister Woo discusses economic cooperation with Saudi Arabia’s Economy and Planning Minister

Trade, Industry and Energy Vice Minister Woo Taehee (right) posed for a photo with Saudi Arabian Minister of Economy and Planning Adel M. Fakeih during their meeting at the Government Complex Seoul on March 9. Vice Minister Woo and Minister Fakeih discussed bilateral cooperation in the field of energy resources as well as on Vision 2030, the Kingdom’s new roadmap for development. Saudi Arabia is the leading supplier of crude oil to Korea and the largest overseas market for the Korean cons date2017-03-09