Ministry of Trade, Industry and Energy

Korean delegation attends 2nd round of IPEF negotiations

Trade, Industry and Energy Ministry’s Deputy Minister for FTA Negotiations Roh Keon-ki headed the Korean delegation at the second official round of negotiations for the Indo-Pacific Economic Framework for Prosperity (IPEF) in Indonesia on March 13-19. The Korean delegation is composed of representatives of relevant ministries and Government agencies, including the Ministry of Economy and Finance (MOEF), Ministry of Foreign Affairs (MOFA), Ministry of Agriculture, Food and Rural Affairs (M date2023-03-15

Korea's ICT exports reach $12.8 billion in February

The Ministry of Trade, Industry and Energy announced on March 14 that Korea's exports and imports of information and communications technology (ICT) goods in February recorded USD 12.8 billion (down 32.0 percent year-on-year) and $11.0 billion (down 3.6 percent), respectively, and the trade balance stood at a surplus of $1.8 billion. The exports decline is seen to be caused by slowdowns in the global economy and semiconductor industry. Semiconductors (down 41.5 percent to $6.1 billion) continu date2023-03-14

MOTIE attends 3rd World Expo 2030 Busan Bid Committee meeting

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 10 that Prime Minister Han Duck-soo and Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won co-presided the third World Expo 2030 Busan Bid Committee (hereinafter “Committee”) meeting at the Four Seasons Hotel Seoul. This meeting was held to gather public-private efforts for bid winning and to discuss upcoming promotion measures in detail, as the final bid winner election is coming up in November t date2023-03-14

MOTIE discusses deconcentration measures for datacenters

Trade, Industry and Energy 1st Vice Minister Jang Young-jin attended the 18th National Policy Agenda Ministerial Meeting presided by Prime Minister Han Duck-soo on March 9 at the Government Complex Seoul, where he led discussions on measures for mitigating the concentration of datacenters in the Seoul metropolitan area. Discussions focused on datacenter dispersion measures that relevant ministries can collaborate on more closely, building around measures announced by MOTIE this January. The da date2023-03-10

World Expo 2030 Busan Bid Committee signs MOU with Busan City and Lotte for joint promotion

The Ministry of Trade, Industry and Energy (MOTIE) announced on March 8 that the Bid Committee for World Expo 2030 Busan (hereinafter “Committee”) signed a cooperation memorandum of understanding (MOU) with Busan Metropolitan City and Lotte Holdings for promotion of Korea’s bid to host World Expo 2030 in Busan. The main purpose of the cooperation MOU is to prepare for enquiry mission by the Bureau International des Expositions (BIE), which will take place April 3-7, and to dra date2023-03-10

MOTIE makes announcement on Korea-Japan export control status

The Ministry of Trade, Industry and Energy (MOTIE) announced as follows on March 6 regarding Korea-Japan export control issues: Governments of both countries have decided to swiftly proceed with relevant bilateral talks for them to return to the export control status prior to July 2019. The Korean government will be halting the World Trade Organization (WTO) dispute settlement resolution procedures while above talks proceed. The Japanese government will be holding a Korea-Japan expo date2023-03-09

Minister holds meeting with commercial attachés to bolster exports

Trade, Industry and Energy Minister Lee Chang-yang held an emergency meeting with the Ministry’s 29 commercial attachés stationed in 26 countries, so as to achieve export growth for 2023 and seek preemptive action against major countries’ trade protectionism measures amid difficult export conditions. MOTIE’s commercial attachés are stationed across a total of 36 countries where they monitor various trade and market conditions and engage in negotiations with gover date2023-03-09

Korea and Uzbekistan hold 1st bilateral energy dialogue

The Ministry of Trade, Industry and Energy (MOTIE)’s Energy Industry Deputy Minister Cheon Young-gil held the 1st Korea-Uzbekistan Energy Dialogue with Azim Israilovich Akhmedkhajaev, First Deputy Minister at Ministry of Energy of the Republic of Uzbekistan, on March 7 in Seoul to share energy policies and discuss measures to expand cooperation in renewable energy and energy efficiency. The meeting is meaningful in that it is the first official Korea-Uzbekistan energy dialogue held in acc date2023-03-08