Ministry of Trade, Industry and Energy

Korea and GCC hold 7th round of FTA negotiations

The Ministry of Trade, Industry and Energy (MOTIE) is heading the Korean delegation for the seventh round of the Korea-GCC (Gulf Cooperation Council) Free Trade Agreement (FTA) official negotiations held through February 14-16 in Riyadh, Saudi Arabia. Led by chief negotiator Kwon Hye-jin of MOTIE, the Korean delegation consists of approximately 30 representatives of relevant ministries, including the Ministry of Economy and Finance (MOEF), Ministry of Oceans and Fisheries (MOF) and the Ministry date2023-02-15

Korea's ICT trade records surplus of $0.9 billion in January

The Ministry of Trade, Industry and Energy announced on February 14 that Korea's exports and imports of information and communications technology (ICT) goods in January recorded USD 13.1 billion (down 33.2 percent year-on-year) and $12.2 billion (down 1.1 percent), respectively, and the trade balance stood at a surplus of $0.9 billion. The decline in exports is attributable to the global economic downturn and continued slump across the semiconductor industry. By item, shipments of major export date2023-02-14

MOTIE holds 1st Trade Industry Forum to discuss major tasks for exports growth

Trade, Industry and Energy Minister Lee Chang-yang presided the first Trade Industry Forum for 2023 on January 13 at the Korea International Trade Association (KITA) in Seoul together with KITA Chairman Koo Ja-yeol to forecast this year’s economic and trade environment and discuss the 10 key tasks for reaching positive growth in exports and investment in 2023. Government officials, relevant institutions' personnel and academia experts attended the forum. Minister Lee assessed that “ date2023-02-14

Korea participates in U.S. HFCS & cohosts hydrogen roundtable

The Ministry of Trade, Industry and Energy (MOTIE) participated in the Hydrogen & Fuel Cell Seminar (HFCS) in California on February 7-9 and held a public-private joint roadshow for entering the U.S. hydrogen market. Organized by the U.S.’ Fuel Cell and Hydrogen Energy Association (FCHEA), HFCS is North America’s largest hydrogen event with over 40 years of history, offering a business exchange venue of opportunities for at least 70 companies and institutions to come together to date2023-02-10

MOTIE attends IPEF Pillars 2-4 special negotiation round

The Ministry of Trade, Industry and Energy (MOTIE) will be attending the special negotiation round for Pillars 2-4 of the Indo-Pacific Economic Framework for Prosperity (IPEF) to be held through February 8-11 in New Delhi, India, as part of the Korean delegation composed of officials of relevant ministries, including the Ministry of Economy and Finance (MOEF), Ministry of Foreign Affairs (MOFA) and the Ministry of Agro-Fisheries, Food and Rural Affairs (MAFRA), headed by MOTIE’s Deputy Min date2023-02-09

MOTIE attends MSP meeting for critical minerals supply chain

The Ministry of Trade, Industry and Energy (MOTIE), as part of the Korean delegation, attended on February 7 the Mineral Security Partnership (MSP) meeting presided by the U.S. Department of State on occasion of the Investing in African Mining Indaba conference (February 6-9) held in Cape Town, South Africa. The Korean delegation was led by the 2nd Vice Minister of the Ministry of Foreign Affairs (MOEF), and included representatives of relevant institutions like Korea Mine Rehabilitation and Mi date2023-02-08

Korea and EU discuss major trade issues

Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin met with Maria Martin-Prat de Abreu, Deputy Director-General of the European Commission's Directorate-General for Trade, on February 6 to discuss Korea-EU trade issues, bilateral digital trade cooperation measures and joint response to the U.S. Inflation Reduction Act (IRA). Deputy Trade Minister Jeong stated that the Korea-EU partnership is important and emphasized the importance of their close cooperation amid ris date2023-02-07

Minister holds evaluation meeting on World Expo 2030 Busan promotion progress

Trade, Industry and Energy Minister Lee Chang-yang held a meeting on February 6 to evaluate the progress of World Expo 2030 Busan bid promotion and plans. With the final selection coming up in November this year, the meeting aimed to assess promotion activities in detail, including plans regarding overseas negotiation, upcoming enquiry mission of the Bureau International des Expositions (BIE), presentation competition, economic mission and public-private joint promotion collaboration. date2023-02-07