Ministry of Trade, Industry and Energy

Korea and UAE follow up on summit diplomacy outcomes

Minister for Trade Dukgeun Ahn visited the United Arab Emirates (UAE) through March 15-16 to advance economic diplomacy between the two countries, activating the Korea-UAE economic cooperation channel and dispatching the “shuttle group” as part of carrying out the economic summit diplomacy follow-up measures through creating a new Middle East boom for economic vitalization. On the first day of arrival, Trade Minister Ahn met with UAE Minister of State for Foreign Trade Thani bin Ahm date2023-03-20

Korea and Netherlands sign 7 MOUs for industrial & energy cooperation

Minister for Trade Dukgeun Ahn met with Liesje Schreinemacher, the Dutch Minister for Foreign Trade and Development Cooperation, and attended the memorandum of understanding (MOU) signing ceremony where the two countries signed seven MOUs on eco-friendly mobility and renewable energy cooperation. The ceremony was held on occasion of Dutch Minister Schreinemacher’s visit to Korea (March 13-15) as trade delegation head and as follow-up to the Korea-Netherlands summit talks held last Novembe date2023-03-17

MOTIE announces outcome of 9th Korea-Japan export control policy dialogue

The Ministry of Trade, Industry and Energy (MOTIE) held the 9th Korea-Japan Export Control Policy Dialogue with Japan’s Ministry of Economy, Trade and Industry (METI) on March 14-16 following the bilateral agreement announcement (March 6) on restoring the trade regulatory status. During the policy dialogue, the two countries exchanged views on their export control systems, enforcement, follow-up measures and export control’s effectiveness. Based on these exchanges, Japan decided to date2023-03-16

Minister holds Pan-Ministerial Energy Efficiency Innovation Consultative Meeting

Trade, Industry and Energy Minister Lee Chang-yang held the Pan-Ministerial Energy Efficiency Innovation Consultative Meeting on March 14 at the Government Complex Seoul with 13 other ministries related to energy efficiency and conservation. The Korean government is recently focusing policy efforts on fundamentally reducing burden on companies and households caused by the protracted energy crisis, rising energy costs and high inflation. The consultative meeting was held to gather pan-ministeri date2023-03-16

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