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Trade/Investment
Trade Minister meets with India's Commerce and Industry Minister
Minister for Trade Dukgeun Ahn met with Piyush Goyal, India’s Minister of Commerce and Industry, on November 13 in San Francisco on the sidelines of attending the Indo-Pacific Economic Framework for Prosperity (IPEF) & Asia-Pacific Economic Cooperation (APEC) summit and held talks on improving the Korea-India Comprehensive Economic Partnership Agreement (CEPA), measures for stronger economic cooperation, and multilateral trade issues. date2023-11-20
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FTA/Economic Cooperation
Trade Minister attends IPEF ministerial meeting
Minister for Trade Dukgeun Ahn attended the Indo-Pacific Economic Framework for Prosperity (IPEF) Pillar 1 session on November 13 in San Francisco to review outcomes and expressed commitment to continue efforts for further progress. date2023-11-20
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Trade/Investment
Trade Minister meets with New Zealand’s Trade and Export Growth Minister
Minister for Trade Dukgeun Ahn met with New Zealand’s Trade and Export Growth Minister Damien O'Connor on November 12 in San Francisco on the sidelines of attending the Indo-Pacific Economic Framework for Prosperity (IPEF) & Asia-Pacific Economic Cooperation (APEC) summit to discuss the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and IPEF among other trade issues, and reaffirmed their commitment on clean energy cooperation. date2023-11-20
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Trade/Investment
Trade Minister meets with Australia’s Trade and Tourism Minister
Minister for Trade Dukgeun Ahn met with Australia’s Trade and Tourism Minister Don Farrell on November 12 in San Francisco on the sidelines of attending the Indo-Pacific Economic Framework for Prosperity (IPEF) & Asia-Pacific Economic Cooperation (APEC) summit to discuss trade issues including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and IPEF, and asked support for World Expo 2030 Busan. date2023-11-20
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Trade/Investment
Trade Minister meets with U.S. Trade Representative to discuss trade issues
Minister for Trade Dukgeun Ahn met with U.S. Trade Representative Katherine Tai on November 12 in San Francisco on the sidelines of attending the IPEF ministerial meetings and APEC summit to discuss major trade issues and summit outcomes. date2023-11-20
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Industry
Outdoor mobile robots now permitted for business use
The Ministry of Trade, Industry and Energy (MOTIE) and the National Police Agency announced on November 16 that following the implementation of the revised Intelligent Robots Act starting November 17, it is now permissible to engage in new business activities like delivery and patrolling services utilizing outdoor mobile robots. Until now, outdoor mobile robots were prohibited from operating on sidewalks. However, this has changed with the recent amendments and implementations of the Intelligen date2023-11-17
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Energy
Korea to participate in MMRV framework as one of 13 founding members
The Ministry of Trade, Industry and Energy (MOTIE) announced on November 16 that Korea will participate in the measurement, monitoring, reporting, and verification framework (MMRV Framework) as one of the 13 founding members along with the U.S., EU, Japan, and Australia in order to create an objective system for measuring methane emissions across the natural gas supply chain. Methane (CH4), the main component of natural gas at around 80%, is known as the second cause of global warming after car date2023-11-17
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FTA/Economic Cooperation
IPEF Pillars reach substantial conclusion and outcomes within 18 months of launch
The Republic of Korea participated in the Indo-Pacific Economic Framework for Prosperity (IPEF) ministerial meetings held through November 13-14 in San Francisco along with other 13 member countries to announce the outcomes gained from the last 18 months of negotiations. Member countries signed the Pillar II (Supply Chain) Agreement, which was already concluded in May this year, and also concluded negotiations for the Clean Economy Pillar and the Fair Economy Pillar. They took stock of the nego date2023-11-17
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Energy
Minister Bang promotes CF Alliance & supply chain stabilization on sidelines of APEC summit
Trade, Industry and Energy Minister Bang Moon Kyu held talks with major countries’ ministers, U.S. companies and Korean firms operating in the U.S. on the sidelines of attending the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco. First, Minister Bang met with U.S.’ Under Secretary for Economic Growth, Energy, and the Environment Jose W. Fernandez to co-chair the Korea-U.S. Clean Energy Business Roundtable in response to climate change, and requested active support date2023-11-17
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FTA/Economic Cooperation
IPEF leaders reach substantial conclusion on critical minerals and other cooperation agendas
The Ministry of Trade, Industry and Energy (MOTIE) announced on November 17 that President Yoon Suk Yeol attended the Indo-Pacific Economic Framework for Prosperity (IPEF) summit on November 16, hosted by U.S. President Joe Biden, and attended by the leaders of 14 countries, including Japanese Prime Minister Kishida Fumio. IPEF is a cooperative system established for joint response of major countries in the Indo-Pacific region against newly emerging global trade issues like supply chain and cli date2023-11-17