Ministry of Trade, Industry and Energy

Korea to invest 14 trillion won into new energy projects

The Ministry of Trade, Industry and Energy announced on January 4 that it expects Korea will invest nearly 14 trillion won into emerging energy industries, primarily driven by an increase in investments by the private sector.   Trade, Industry and Energy Minister Joo Hyunghwan hosted a meeting between himself, the financial sector, public sector, as well as other suppliers and business leaders, in order to share investment plans and introduce some of the new businesses that are currently date2017-01-04

Korea to unify charging method of electric cars

The Ministry of Trade, Industry and Energy announced on December 29 that it plans to standardize the charging mechanism for electric vehicles in Korea. The Korean Agency for Technology and Standards (KATS) recognizes the need to integrate the charging methods of electric cars -- especially given the country’s growing market for EVs -- and believes now is the most suitable time to begin making those changes for the long run. There are currently five major charging standards recognized by date2016-12-29

Minister Joo holds second public-private talk on Korea-U.S. trade issues

Trade, Industry and Energy Minister Joo Hyunghwan (second from left) on December 28 hosted a second meeting between government and private experts that convened last month in order to deal with potential U.S. protectionist measures amid the incoming Trump administration. Minister Joo and roughly 40 other business leaders and heads of research institutes including Kim In-ho, chairman and CEO of Korea International Trade Association; Lee Dong-geun, executive vice chairman of Korea Chamber of Comm date2016-12-28

Minister Joo attends investment forum on renewable energy business

Trade, Industry and Energy Minister Joo Hyunghwan(center) attended the ``New and Renewable Energy Business Investment Forum'' in Seoul on December 27, 2016.  Minister Joo emphasized the importance of expanding investment in renewable energy businesses in view of their enhanced stability. On the same day, he signed a memorandum of understanding (MOU) for financial investment in the Yeonggwang wind power station and Daesan’s hydrogen fuel cells.   The forum was attended by more t date2016-12-27

Vice Minister Jeong meets with Japanese business leaders in Korea

Trade, Industry and Energy Vice Minister Jeong Marn-ki (center) attended the Seoul Japan Club Leaders’ Meeting in Seoul on December 23, 2016.  The vice minister outlined his ministry’s policies for ensuring a stable economy and called for more active participation to maintain the rising trend of foreign investment. He encouraged investors to have confidence in the fundamentals of the Korean economy, stressing that the country plans to implement sound economic policies on a cons date2016-12-26

Minister Joo co-chairs Korea-EU FTA Joint Committee meeting

Trade, Industry and Energy Minister, Joo Hyunghwan (second from right), co-chaired the 6th Joint Committee meeting under Korea and the European Union FTA in Belgium on December 16 (local time). During the meeting co-hosted by Cecilia Malmström, the European Commissioner for Trade, Minister Joo assessed the benefits under the current free trade pact with roughly 40 other delegates from both sides. Korea and the EU have discussed ways to further improve the trade deal, since the free trade a date2016-12-19

Korea, UK discuss new ways of economic ties in the post-Brexit era

Minister of Trade, Industry and Energy Joo Hyunghwan (left) met with UK Secretary of State for International Trade Liam Fox (right) prior to the 3rd UK-Korea Joint Economic and Trade Committee (JETCO), on Dec 15 in London.The two ministers discussed establishing new economic ties between Korea and UK after Brexit in such fields as the emerging renewable energy industry. date2016-12-16

Ministry hosts emergency meeting for export policy check-up after impeachment vote

Led by the Trade-Industry-Energy MinisterJoo Hyunghwan, the Ministry hosted an urgent meeting to inspect current export environment and to predict the outlook for exports next year on Dec 13 in Seoul with key exporters and export promotion-related organizations like KOTRA and Korea Trade Insurance Corp. in its efforts to minimize the impact from the parliament’s impeachment vote against the President last Friday.    In an opening remark, Minister Joo underscored growing unce date2016-12-13

Minister Joo discusses ways of enhancing economic ties at 7th Korea-Vietnam Joint Committee meeting

Trade, Industry and Energy Minister Joo Hyunghwan (right) co-chaired the 7th meeting of the Joint Committee for Cooperation on Nuclear Power, Energy and Industry between Korea and Vietnam with his Vietnamese counterpart, Minister of Industry and Trade Vietnam Tran Tuan Anh (left), in Seoul on December 7. During the meeting, which was attended by about eighty government officials from the Korean and Vietnamese sides, the committee discussed ways of enhancing cooperation between the two countries date2016-12-08

Minister Joo meets with DTI secretary Ramon Lopez

Trade, Industry and Energy Minister Joo Hyunghwan (left) met with Philippine Department of Trade and Industry secretary Ramon Lopez (right) in Seoul on December 6. Minister Joo and his Philippine counterpart discussed the Regional Comprehensive Economic Partnership and other pending trade issues between the two countries, prior to their bilateral trade talks.   date2016-12-06