Ministry of Trade, Industry and Energy

Minister Ahn discusses response measures amid global uncertainties with RAND Corporation CEO

Trade, Industry and Energy Minister Dukgeun Ahn held talks with Jason Matheny, CEO and President of the U.S.-based thinktank RAND Corporation, on May 24 in Seoul.   Held on the occasion of President Matheny’s visit for meetings with Korean companies and experts concerning cooperation in defense, technology, and security, the talks covered Korea’s measures in responding to the rapidly changing trade landscape amid the U.S.-China conflict, Russia-Ukraine war, and other geopolitical uncertainties, as well as the intensifying global protectionism and technology and security competition.   They also discussed the impact on Korea from the U.S.’ recent announcement to levy new tariffs on Chinese imports and China’s complaint filed to the World Trade Organization (WTO) over U.S. subsidies under the Inflation Reduction Act (IRA). date2024-05-24

Trade Minister meets MEDEF France-Korea Business Council Chairman

Minister for Trade Inkyo Cheong met with François Jackow, Chairman of the France-Korea Business Council of MEDEF International, on May 23 at the FKI Tower in Seoul to discuss measures for advancing bilateral economic cooperation. date2024-05-24

Korea and Kazakhstan hold 10th meeting of Trade-Economic and Scientific-Technical Cooperation Commission

Trade, Industry and Energy Minister Dukgeun Ahn and Kazakhstan’s Industry and Construction Minister Sharlapaev Kanat Bisimbayevich held the 10th meeting of the intergovernmental Korea-Kazakhstan Commission on Trade-Economic and Scientific-Technical Cooperation on May 23 via teleconferencing.   Launched in accordance with the bilateral trade agreement that went into force in 1992, the above Commission is a high-level consultative group co-led by Korea’s Trade, Industry and Energy minister and Kazakhstan’s Industry and Construction minister, with the participation of related ministries and institutions. The Commission’s previous meeting was held four years ago in November 2020.   During the 10th meeting, both sides decided to strengthen cooperation across various areas, including critical minerals, energy, trade, investment, infrastructure, and science technology based on the shared understanding of the importance of economic security and wider energy cooperation, which were some of the issues discussed during the Korea-Kazakhstan summit held on the margins of the United Nations General Assembly in September 2023. date2024-05-24

Trade Minister speaks at 1st “Korea-France Business Dialogue for Our Future”

Minister for Trade Inkyo Cheong spoke at the first “Korea-France Business Dialogue for Our Future” jointly launched by the Movement of the Enterprises of France (MEDEF) and the Federation of Korean Industries (FKI) on May 23 in Seoul and discussed measures for bilateral cooperation in aerospace, future mobility, low carbon and other advanced technology and future strategic industry areas. date2024-05-24

Korea and France hold 1st "Business Dialogue for Our Future"

Minister for Trade Inkyo Cheong met with the Movement of the Enterprises of France (MEDEF), France’s largest employer federation, on May 23 in Seoul to discuss measures for Korea-France cooperation in aerospace, future mobility, low carbon and other advanced technology and future strategic industry areas.   Air Liquide CEO and France-Korea Business Council Chairman François Jackow led the French economic delegation composed of 32 representatives of 19 major French global companies, institutions, and organizations, including Airbus, TotalEnergies, and OPmobility, to jointly launch the first “Korea-France Business Dialogue for Our Future” with the Federation of Korean Industries (FKI) to build on the bilateral economic cooperative momentum spurred by Korea's two summit-level visits to France in 2023.   Trade Minister Inkyo Cheong held talks with French business leaders on investment in Korea and related issues, introducing the Korean government's investment attraction efforts and measures for greater cooperation between the two countries. In his congratulatory address, the trade chief noted that the Korea-France bilateral trade value last year hit a record high of USD 13.6 billion, surpassing $10 billion for the third consecutive year, as their cooperation is increasingly expanding to advanced and future strategic industries like aerospace, future mobility, and low carbon.   Addressing the rapidly changing economic and trade landscape, he also stated that solid private sector partnerships will serve as the backbone for not only successful business pursuits, but also for strengthening cooperation across a wide range of areas like politics, economy, society, culture, and security, and highlighted the proactive role of both countries’ entrepreneurs. date2024-05-24

MOTIE, North Gyeongsang Province & Gumi City enter MOU with Toray Industries

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 22 that it entered an investment cooperation memorandum of understanding (MOU) on May 22 in Seoul with Gumi City, North Gyeongsang Province, and Japan’s Toray Industries on the establishment of an advanced materials production plant.   Attendees included Korean lawmakers Kim Young-sik and Koo Ja-geun, North Gyeongsang Province Governor Lee Cheol-woo, Gumi City Mayor Kim Jang-ho, and Toray Industries President Mitsuo Ohya. date2024-05-24

2nd Carbon Composites Jump Up Partnership Meeting

Deputy Minister for Industrial Policy Lee Seung-ryeol chaired the second meeting of the Carbon Composites Jump Up Partnership on May 22 at the Korean Federation of Science and Technology Societies (KOFST), where representatives of related supplier and buyer companies and certification authorities gathered to share and discuss the Domestic Aerospace Carbon Composites Technology Development and Certification Roadmap. date2024-05-24

Deputy Trade Minister chairs “Joint Nurturing of Global South Industrial Talent” seminar

Deputy Minister for Trade Yang Byeong-nae chaired a seminar on May 22 at the Korea Chamber of Commerce and Industry (KCCI) in Seoul on “Joint Nurturing of Global South Industrial Talent” and discussed measures for training and utilizing local talents in the Global South.   Attending the meeting were representatives of Korea Institute for Advancement of Technology (KIAT), Korea Institute of Industrial Technology (KITECH), and Korea Association of Machinery Industry (KOAMI) among other relevant industries, academia, and institutions. date2024-05-24

Minister Ahn chairs 31st Energy Commission meeting

Trade, Industry and Energy Minister Dukgeun Ahn chaired the 31st Energy Commission meeting with related ministries and energy experts on May 22 to discuss measures for overseas renewable energy market entry support, electric power market system improvement, and the strategy for nurturing the carbon capture and storage (CCS) industry. date2024-05-24

Korea and Czech Republic discuss economic cooperation

Deputy Minister for Energy Policy Lee Ho-hyeon met with the Czech Deputy Minister of Industry and Trade Petr Třešňák on May 22 in Seoul to discuss stronger economic cooperation in energy, industries, and trade. date2024-05-24