Ministry of Trade, Industry and Energy

Korea paves the way for global recognition of domestic carbon footprint verification system

The Ministry of Trade, Industry, and Energy (MOTIE) announced on October 26 that the Korea Institute of Industrial Technology (KITECH) signed a memorandum of understanding (MOU) with the Carbon Footprint International Alliance (CFIA), a coalition consisting of carbon footprint verification system operators from various countries for mutual acknowledgement and validation of each country’s carbon footprint verification process. The MOU aims to attain global accreditation for the global carbo date2023-10-30

Minister to visit Chile & Trinidad and Tobago for stronger cooperation with Latin America

Trade, Industry and Energy Minister Bang Moon Kyu will be visiting the Republic of Chile and the Republic of Trinidad and Tobago starting October 28 to strengthen industrial and energy cooperation with Latin American nations. For Chile, this visit by the MOTIE Minister is one in eight years since April 2015, while for Trinidad and Tobago, this will be the very first. The minister is to be accompanied by an economic delegation composed of 40 representatives from both public and private organizati date2023-10-30

Korea and Qatar expand scope of collaboration to self-driving, smart farm and healthcare

Trade, Industry and Energy Minister Bang Moon Kyu and Qatar’s Commerce and Industry Minister Mohammed bin Hamad bin Qassim Al Abdullah Al Thani attended the Korea-Qatar Business Forum on October 25 in Qatar, held by the Korea Chamber of Commerce and Industry and the Qatar Chamber of Commerce and Industry, where a total of 10 memorandums of understanding (MOUs) were signed between the two countries. In energy, Samsung C&T and the Qatar Free Economic Zone Authority entered a total of tw date2023-10-30

Korea and Qatar upgrade LNG partnership to cooperation in trade and new industries

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 25 that one agreement and two memorandums of understanding (MOUs) were signed between Korea and Qatar on the occasion of the Korea-Qatar summit meeting held on October 25 in Doha, Qatar. First, MOTIE Minister Bang Moon Kyu and Qatar’s Commerce and Industry Minister Mohammed bin Hamad bin Qassim Al Abdullah Al Thani signed the Trade and Investment Promotion Framework (TIPF) MOU for the diversifying of bilateral coopera date2023-10-30

Korea deposits instrument of acceptance of the WTO Fisheries Subsidies Agreement   

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 24 that the Korean government has formally deposited the instrument of acceptance for the Protocol Amending the Marrakesh Agreement Establishing the World Trade Organization to accept the World Trade Organization (WTO) Fisheries Subsidies Agreement on October 23 on the occasion of attending the Senior Officials Meeting (SOM) held in Geneva, Switzerland (October 23-24).  The Fisheries Subsidies Agreement, negotiated sin date2023-10-27

Korea and Vietnam discuss economic collaboration & advancing carbon free initiatives  

  Trade, Industry and Energy Vice Minister Youngjin Jang held a meeting on October 17 in Seoul with Tran Tuan Anh, head of the Vietnamese Communist Party Central Committee's Economic Commission, and discussed implementation measures following the Korea-Vietnam summit. Since the state visit to Vietnam in June, there has been active high-level dialogues between the two countries aimed at bolstering economic cooperation. Some of the issues discussed include enhancing bilateral trade and date2023-10-27

Korea-Qatar business partnerships take off in energy & new industries

Hosted by the Ministry of Trade, Industry and Energy (MOTIE) and organized by the Korea Trade-Investment Promotion Agency (KOTRA) on October 25 at the St. Regis Doha, the “Korea-Qatar Business Partnership” trade show was launched to serve as a venue for 117 one-on-one meetings between 20 Korean SMEs and middle-market companies and 54 Qatari companies in energy, plant, construction, smart farm, smart city and bio. The trade show is expected to further not only traditional cooper date2023-10-27

Korea and Canada discuss cooperation in critical minerals for batteries

Deputy Minister for Trade Yang Byeong-nae met Mark Schaan, Canada’s Senior Assistant Deputy Minister for Strategy and Innovation Policy at the Department of Innovation, Science and Economic Development (ISED) on October 25 in Korea to discuss measures to strengthen bilateral cooperation in economy and trade. Deputy Trade Minister Yang stated that following the U.S. Inflation Reduction Act (IRA)’s entry into force and Korean companies’ growing awareness of the importance of Can date2023-10-27