Ministry of Trade, Industry and Energy

Korea's major retailers come together to launch Korea Sale Festa 2023

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 10 the launching of the “Korea Sale Festa 2023 (“Festa”) to be held through November 11-30, where Korea’s major retailers and manufacturers come together with the Government to boost the domestic economy by aiming for a rebound of the currently weak consumer confidence amid inflation and other difficult conditions. The Festa Committee and MOTIE have selected former national volleyball team member an date2023-11-13

Korea and Czech Republic to expand industrial, trade & energy cooperation

Minister for Trade Dukgeun Ahn visited the Czech Republic as Special Presidential Envoy through November 9-11 and met with the Czech Minister of Industry and Trade Jozef Síkela and Deputy Minister of Foreign Affairs Jiří Kozák to discuss measures for expanding the scope of bilateral cooperation in trade, investment, clean energy and EU’s economic legislations, as well as to request support for World Expo 2030 Busan. First, Trade Minister Ahn met with the Czech Republ date2023-11-13

Korea-Middle East cooperation to enter new era of partnership

Trade, Industry and Energy Minister Bang Moon Kyu chaired the second Korea-Middle East Economic Cooperation Public-Private Joint Committee meeting, where they reviewed achievements and implementation methods, project progress by each department, and issues and suggestions from individual companies. MOTIE reported that since the start of the Yoon Suk Yeol administration, 143 contracts and memorandums of understanding (MOUs) were signed between the two sides worth approximately USD 87.4 billion, date2023-11-10

Global efforts for cooperation in GHG reduction gather in Busan

The Ministry of Trade, Industry and Energy (MOTIE) is holding “Global Net Zero Connection in Korea” through November 9-10 in Busan for discussions on measures for cooperation in the reduction of greenhouse gas (GHG) emissions with 10 other countries, including Bangladesh, Cambodia, Indonesia and Vietnam. Hosted by MOTIE and organized by the Korea Trade-Investment Promotion Agency (KOTRA), “Global Net Zero Connection in Korea” is an event bringing together government inst date2023-11-10

FTZ Innovation Strategy Forum lays out 30-year roadmap for Korea's free trade zones

The Ministry of Trade, Industry and Energy (MOTIE) held the first Free Trade Zone (FTZ) Innovation Strategy Forum on November 7, and discussed the strategic policy outlook for FTZs over the coming three decades with industry and regional experts, and business leaders. At the forum, a reassessment of the progress was made over the last 50 years, starting from the point when FTZs were first established. An interim report was also shared on the innovation strategy set to shape the development of F date2023-11-09

Korea to bolster economic cooperation with Tanzania

Minister for Trade Dukgeun Ahn visited Dodoma, the capital of Tanzania, on November 8 as a Special Presidential Envoy to strengthen economic cooperation with the East African nation amid the rising strategic importance of the African continent as a new export market and major reservoir of mineral resources. The trade minister’s visit was accompanied by a public-private joint economic delegation composed of representatives of relevant organizations and companies, including the Export-Impor date2023-11-09

Korea to strengthen economic cooperation with Trinidad and Tobago

Trade, Industry and Energy Minister Bang Moon Kyu visited the Republic of Trinidad and Tobago as Special Presidential Envoy to strengthen industrial and energy cooperation with Latin American nations on November 2, on the heels of his visit to Chile (Oct. 29-Nov.1). This is the first visit made to the Caribbean island country by Korea’s trade, industry and energy minister. The visit was accompanied by an economic delegation composed of 28 representatives of public and private organization date2023-11-09

Korea discusses trade and energy cooperation with Malta

Trade, Industry and Energy Vice Minister Kang Kyungsung met Ian Borg, Malta’s Minister for Foreign and European Affairs and Trade, on November 7 in Seoul and discussed measures for expanding trade and investment, eco-friendly energy cooperation and other bilateral economic collaboration measures. Vice Minister Kang noted that, while the bilateral trade volume between Korea and Malta is not large, there exists various aspects that call for greater trade and investment, such as Malta’ date2023-11-08