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Industry
Vice Minister attends completion ceremony of Korea's first neodymium REPM plant
Trade, Industry and Energy Vice Minister Youngjin Jang attended on October 27 the completion ceremony of Sunglim Advanced Industrial’s Hyunpoong Plant in Daegu, Korea’s very first producer of neodymium-based rare earth permanent magnets (REPMs), which are core components of EV motors. The ceremony was attended by representatives of relevant companies and organizations, including Daegu City Executive Mayor Kim Jong-han, Korea Automotive Technology Institute (KATECH) President date2023-10-31
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Energy
CF Alliance takes off to lead global discussions on carbon neutrality standards
Trade, Industry and Energy Minister Bang Moon Kyu attended the launching ceremony for the Carbon Free (CF) Alliance on October 27 at the Korea Chamber of Commerce and Industry (KCCI). The event was also attended by Prime Minister Han Duck-soo, heads of national policy research institutes and representatives of member companies, including SK Hynix, Hyundai Motor, LG Chem and POSCO. date2023-10-31
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Energy
CF Alliance takes off to lead global discussions on carbon neutrality standards
The Ministry of Trade, Industry, and Energy (MOTIE) announced that the launching ceremony for the Carbon Free (CF) Alliance took place on October 27 at the Korea Chamber of Commerce and Industry (KCCI), attended by Korea’s Prime Minister Han Duck-soo, representatives of member companies, and heads of national policy research institutes. The Alliance is viewed to play a crucial role in promoting the Carbon Free Energy (CFE) Initiative, as proposed by President Yoon Suk Yeol during his keyno date2023-10-30
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Energy
Korea paves the way for global recognition of domestic carbon footprint verification system
The Ministry of Trade, Industry, and Energy (MOTIE) announced on October 26 that the Korea Institute of Industrial Technology (KITECH) signed a memorandum of understanding (MOU) with the Carbon Footprint International Alliance (CFIA), a coalition consisting of carbon footprint verification system operators from various countries for mutual acknowledgement and validation of each country’s carbon footprint verification process. The MOU aims to attain global accreditation for the global carbo date2023-10-30
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Energy
Minister Bang discusses cooperation with Qatari Minister of State for Energy Affairs
Trade, Industry and Energy Minister Bang Moon Kyu met Qatar's Minister of State for Energy Affairs and QatarEnergy CEO Saad Sherida Al-Kaabi on October 25 in Qatar to discuss measures for bilateral energy cooperation. date2023-10-30
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FTA/Economic Cooperation
Minister to visit Chile & Trinidad and Tobago for stronger cooperation with Latin America
Trade, Industry and Energy Minister Bang Moon Kyu will be visiting the Republic of Chile and the Republic of Trinidad and Tobago starting October 28 to strengthen industrial and energy cooperation with Latin American nations. For Chile, this visit by the MOTIE Minister is one in eight years since April 2015, while for Trinidad and Tobago, this will be the very first. The minister is to be accompanied by an economic delegation composed of 40 representatives from both public and private organizati date2023-10-30
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Industry
Korea and Qatar expand scope of collaboration to self-driving, smart farm and healthcare
Trade, Industry and Energy Minister Bang Moon Kyu and Qatar’s Commerce and Industry Minister Mohammed bin Hamad bin Qassim Al Abdullah Al Thani attended the Korea-Qatar Business Forum on October 25 in Qatar, held by the Korea Chamber of Commerce and Industry and the Qatar Chamber of Commerce and Industry, where a total of 10 memorandums of understanding (MOUs) were signed between the two countries. In energy, Samsung C&T and the Qatar Free Economic Zone Authority entered a total of tw date2023-10-30
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Energy
Korea and Qatar upgrade LNG partnership to cooperation in trade and new industries
The Ministry of Trade, Industry and Energy (MOTIE) announced on October 25 that one agreement and two memorandums of understanding (MOUs) were signed between Korea and Qatar on the occasion of the Korea-Qatar summit meeting held on October 25 in Doha, Qatar. First, MOTIE Minister Bang Moon Kyu and Qatar’s Commerce and Industry Minister Mohammed bin Hamad bin Qassim Al Abdullah Al Thani signed the Trade and Investment Promotion Framework (TIPF) MOU for the diversifying of bilateral coopera date2023-10-30
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Trade/Investment
Korea deposits instrument of acceptance of the WTO Fisheries Subsidies Agreement
The Ministry of Trade, Industry and Energy (MOTIE) announced on October 24 that the Korean government has formally deposited the instrument of acceptance for the Protocol Amending the Marrakesh Agreement Establishing the World Trade Organization to accept the World Trade Organization (WTO) Fisheries Subsidies Agreement on October 23 on the occasion of attending the Senior Officials Meeting (SOM) held in Geneva, Switzerland (October 23-24). The Fisheries Subsidies Agreement, negotiated sin date2023-10-27
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Industry
Korea and Vietnam discuss economic collaboration & advancing carbon free initiatives
Trade, Industry and Energy Vice Minister Youngjin Jang held a meeting on October 17 in Seoul with Tran Tuan Anh, head of the Vietnamese Communist Party Central Committee's Economic Commission, and discussed implementation measures following the Korea-Vietnam summit. Since the state visit to Vietnam in June, there has been active high-level dialogues between the two countries aimed at bolstering economic cooperation. Some of the issues discussed include enhancing bilateral trade and date2023-10-27