Ministry of Trade, Industry and Energy

423rd Korea Trade Commission gives final conclusion on anti-dumping investigations

The Ministry of Trade, Industry, and Energy (MOTIE) held the 423rd Korea Trade Commission meeting on April 14, where Chairperson Chang Seung-wha announced the final conclusions of anti-dumping investigations on Chinese presensitized aluminum plates with double-layered coating for offset printing (hereinafter referred to as “double-layer offset printing plate”) and unfair trade practices investigations on the fin field-effect transistor (finFET) patent infringement. The Commission als date2022-04-18

Korea's automobile exports achieve $4.0 billion in March

The Ministry of Trade, Industry, and Energy announced on April 15 that Korea’s March automobiles exports reached 179,630 units (down 7.7 percent) and USD 4.0 billion (down 9.7 percent) in value. Korea’s automobile production suffered from less operating days, semiconductor supply crisis, and China’s production halt in car parts, due to shutdown of local production lines from surging local COVID-19 cases. Only two of Korean car manufacturers achieved positive growth, namely Ssa date2022-04-15

Korea's ICT exports achieve a record-breaking $23.3 billion in March

The Ministry of Trade, Industry, and Energy announced on April 14 that Korea’s outbound shipments of information and communications technology (ICT) goods surpassed all previous records in March, achieving 33.6 percent growth year-on-year and reaching USD 23.3 billion. March 2022 saw the highest ever ICT exports in history since first statistic record in 1996. ICT exports have posted double-digit growth for 12 consecutive months since April of 2021, and take up a whopping 36.6 percent of date2022-04-15

MOTIE announces Jeju-style Distributed Energy Masterplan

The Ministry of Trade, Industry, and Energy announced the Jeju-style Distributed Energy Masterplan at the CFI Energy Future Hall on Jeju Island on April 12. The Ministry aims to propel the masterplan under the Distributed Energy Promotion Strategy, in a way finetuned to the conditions of Jeju Island. The plan entails the establishment of distributed energy-friendly infrastructure, distributed energy-based new power industries development, and measures for improving local sentiments toward the date2022-04-13

Korea and Indonesia hold talks regarding CEPA, IPEF, and other trade issues

Trade, Industry, and Energy Minister Moon Sung-wook held a videoconference with Indonesia’s Trade Minister Muhammad Lutfi on April 11 to discuss the Korea-Indonesia Comprehensive Economic Partnership Agreement (CEPA), Indo-Pacific Economic Framework (IPEF), and other trade issues. This meeting was a follow-up to further the Korea-Indonesia Economic Cooperation Committee talks held in Jakarta on February 22. The two trade chiefs concurred that it would be vital for both countries to conti date2022-04-12

Korea and EU hold 10th Goods Trade Committee

The Ministry of Trade, Industry, and Energy (MOTIE) held the 10th Goods Trade Committee (GTC) with the EU delegation via teleconference for promoting Korea-EU trade of goods under the FTA framework. MOTIE's Director General for International Trade Affairs Kim Wan-ki headed the Korean delegation, which comprised officials from various ministries, including the Science and Technology Ministry, Environment Ministry, and the Food and Drug Safety Ministry. In the meeting, Korea and EU assessed the date2022-04-08

FDI to Korea jumps 14.9 percent in Q1, achieving $5.5 billion

The Ministry of Trade, Industry, and Energy announced on April 7 that foreign direct investments (FDIs) pledged to Korea in the first quarter of this year jumped 14.9 percent year-on-year to USD 5.5 billion, a historic high. The FDIs that actually arrived in Korea over the same period inched down by 2.6 percent to $4.3 billion, still the second highest amount in history. In spite of unstable global investment conditions like the Russia-Ukraine crisis, surging oil prices and raw materials prices date2022-04-08

Trade Minister holds 5th Korea-Australia FTA Joint Committee Meeting

Trade Minister Yeo Han-koo held the 5th Korea-Australia FTA Joint Committee Meeting with Australia’s Minister for Trade, Tourism and Investment Dan Tehan on April 5 via teleconference. The meeting was held at ministerial level in consideration of the two countries’ stronger bilateral ties ensuing the elevation from the former expanding partnership to the current comprehensive and strategic partnership. Minister Tehan anticipated that the U.S. will be officially launching the Indo- date2022-04-07