Ministry of Trade, Industry and 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

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

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

Korea-Qatar business partnerships take off in energy & new industries

Hosted by the Ministry of Trade, Industry and Energy (MOTIE) and organized by the Korea Trade-Investment Promotion Agency (KOTRA) on October 25 at the St. Regis Doha, the “Korea-Qatar Business Partnership” trade show was launched to serve as a venue for 117 one-on-one meetings between 20 Korean SMEs and middle-market companies and 54 Qatari companies in energy, plant, construction, smart farm, smart city and bio. The trade show is expected to further not only traditional cooper date2023-10-27

Korea and Canada discuss cooperation in critical minerals for batteries

Deputy Minister for Trade Yang Byeong-nae met Mark Schaan, Canada’s Senior Assistant Deputy Minister for Strategy and Innovation Policy at the Department of Innovation, Science and Economic Development (ISED) on October 25 in Korea to discuss measures to strengthen bilateral cooperation in economy and trade. Deputy Trade Minister Yang stated that following the U.S. Inflation Reduction Act (IRA)’s entry into force and Korean companies’ growing awareness of the importance of Can date2023-10-27

Korea, China, Japan & Vietnam to strengthen digital materials development cooperation

The Ministry of Trade, Industry and Energy (MOTIE) held the Asian Materials Data Symposium 2023 at the Interburgo Hotel Daegu through October 25-26, and pushed materials data cooperation with major institutions of the U.S., China, Japan, Vietnam, Taiwan and Germany. The U.S., Japan and China are among a number of countries that have been preemptively developing digital materials through data accumulation, and their respective presenters spoke on major success cases at the symposium. Meanwhile, date2023-10-27

Trade Minister visits Kazakhstan & Armenia as Special Presidential Envoy

Minister for Trade Dukgeun Ahn visited Kazakhstan and Armenia through October 23-24 as a Special Presidential Envoy to strengthen substantial economic cooperation with the Commonwealth of Independent States (CIS), the strategic importance of which is recently increasing. The trade chief led an economic delegation composed of 27 representatives of both public and private sectors, including those from the Ministry of Trade, Industry and Energy (MOTIE), Korean embassies in Russia and Kazakhstan, K date2023-10-27

MOTIE and U.S. Bureau of Industry & Security discuss industrial security cooperation

Trade, Industry and Energy Vice Minister Youngjin Jang met with Alan F. Estevez, U.S. Under Secretary of Commerce for Industry and Security, on October 24 in Seoul to discuss semiconductor export control, sanctions against Russia, multilateral export controls and other bilateral trade issues. Vice Minister Jang assessed that Korean companies’ investment and management uncertainties of operating in China have been mitigated by the U.S.’ designation of Samsung Electronics’ and S date2023-10-26