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Trade/Investment
Global companies pledge $940 mln investment into Korea at Invest Korea Summit 2023
The Ministry of Trade, Industry and Energy (MOTIE) announced on November 7 that the nation’s largest investment promotion event, the Invest KOREA Summit, held that day at BEXCO in Busan drew in approximately USD 940 million (KRW 1 trillion) worth of investments into Korea. Prime Minister Han Duck-soo attended the investment declaration ceremony held during the Summit, where five global companies pledged investments of $940 million into Korea and submitted declarations to MOTIE Minister Ba date2023-11-08
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FTA/Economic Cooperation
Korea and Japan discuss future economic cooperation at 16th Industrial Technology Fair
The Ministry of Trade, Industry and Energy (MOTIE), together with the Korea-Japan Cooperation Foundation for Industry and Technology and Japan-Korea Cooperation Foundation for Industry and Technology, launched the 16th Korea-Japan Industrial Technology Fair on November 7 and proposed future directions for bilateral economic cooperation. Launched in 2008, the 16th Korea-Japan Industrial Technology Fair has served as the primary venue for Korea-Japan business exchanges between both countries&rsqu date2023-11-07
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Industry
Korea's semiconductor assembly technology poised to set global standards
Korea is at the forefront of shaping global standards for electronic assembly technology, a crucial aspect of semiconductor product manufacturing. The Korea Agency for Technology and Standards (KATS) is hosting the International Electrotechnical Commission's Technical Committee (IEC/TC 91) meeting on electronic assembly technology for five days from November 6–10 on Jeju Island. This event brings together around 50 experts from nine member countries, including the U.S., Germany, Japan, and date2023-11-07
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Trade/Investment
CIIE 2023 draws 212 Korean companies with eye on Chinese market
Trade, Industry and Energy Ministry's Deputy Minister for Trade Yang Byeong-nae attended the China International Import Expo 2023 (6th CIIE) held through November 5-10 in Shanghai, in which a total of 212 Korean companies are participating. Hosted by the Chinese government with aim to further open China’s markets and enhance imports, CIIE has been held on an annual basis since its first launch in 2018. Chinese local governments, as well as both state-owned and private companies have parti date2023-11-07
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FTA/Economic Cooperation
Korean delegation participates in the 7th IPEF negotiating round
Trade, Industry and Energy Ministry’s Deputy Minister for Trade Negotiations Roh Keon-ki is heading the Korean delegation from November 5-12 in the seventh round of official in-person negotiations for the Indo-Pacific Economic Framework for Prosperity held in San Francisco, U.S. The Korean delegation is composed of representatives of approximately 20 government ministries. The seventh negotiating round was launched 10 days on the heels of the sixth negotiating round held in Malaysia date2023-11-07
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FTA/Economic Cooperation
Korea and Georgia hold EPA Business Roundtable
Minister for Trade Dukgeun Ahn attended the Korea-Georgia Economic Partnership Agreement (EPA) Business Roundtable held on November 2 on the sidelines of the announcement of the launch of official EPA negotiations. The roundtable was attended by Georgia’s Deputy Minister of Economy and Sustainable Development Genadi Arveladz, as well as both countries’ delegations and private sector groups in promising areas for cooperation, such as critical minerals, energy and supply chain. date2023-11-06
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Trade/Investment
Invest Korea Summit 2023 launched in Busan
The Ministry of Trade, Industry and Energy (MOTIE) is hosting the Invest KOREA Summit (IKS) 2023 through November 6-8 in Busan. As Korea’s largest foreign investment promotion event, IKS this year is to draw approximately 1,500 participants from both Korean and overseas companies, Chambers of Commerce, Government ministries and local government bodies. The Korean government plans to not only share the investment outcomes achieved thus far, but also present a vision of nurturing Korea into date2023-11-06
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Trade/Investment
Korea and Ireland discuss cooperation in trade and investment
Minister for Trade Dukgeun Ahn met Simon Coveney, Ireland’s Minister for Enterprise, Trade and Employment, on November 2 at the Plaza Hotel Seoul and discussed measures for expanding trade and facilitating investment between the two countries. date2023-11-06
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FTA/Economic Cooperation
Korea and Georgia announce commencement of EPA negotiations
Minister for Trade Dukgeun Ahn and Georgia’s Deputy Minister of Economy and Sustainable Development Genadi Arveladze announced on November 2 at the Le Meridien Seoul the commencement of the official negotiation process for the Korea-Georgia Economic Partnership Agreement (EPA). date2023-11-06
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Energy
Minister holds talks with Chile’s Mining Minister
Trade, Industry and Energy Minister Bang Moon Kyu held talks with Chile’s Mining Minister Aurora Williams on October 31 in Chile on measures to bolster cooperation in critical minerals, hydrogen, trade and investment. The minister’s visit to Chile was accompanied by an economic delegation composed of representatives of relevant organizations and companies, including the Korea Trade-Investment Promotion Agency (KOTRA), Export-Import Bank of Korea, Hyundai Motor, Samsung Elect date2023-11-06