Ministry of Trade, Industry and Energy

Trade Minister meets Morrocco's Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates

Minister for Trade Inkyo Cheong met Morrocco’s Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates Nasser Bourita on June 2 at the Lotte Hotel Seoul and discussed measures for bilateral economic cooperation, including the Korea-Morrocco Economic Partnership Agreement (EPA) and signed the agreement on launching related negotiations. date2024-06-07

Trade Minister meets Rwanda’s Minister of Foreign Affairs and International Cooperation

Minister for Trade Inkyo Cheong met Rwanda’s Minister of Foreign Affairs and International Cooperation Vincent Biruta on June 4 at the Lotte Hotel Seoul and signed the Korea-Rwanda Trade and Investment Promotion Framework (TIPF) agreement and discussed bilateral trade and investment cooperation measures. date2024-06-07

Trade Minister meets Tanzania’s Minister for Investment, Industry and Trade

Minister for Trade Inkyo Cheong met Tanzania’s Minister for Investment, Industry and Trade Ashatu Kijaji on June 4 at the Lotte Hotel Seoul to discuss measures for accelerating the bilateral Economic Partnership Agreement (EPA). date2024-06-07

Korea-Madagascar Critical Minerals MOU signing ceremony

Minister for Trade Inkyo Cheong attended the Korea-Madagascar Critical Minerals MOU signing ceremony in the presence of both countries’ government delegations and Madagascar’s President Andry Nirina Rajoelina on June 4 at the Lotte Hotel Seoul. date2024-06-07

Trade Minister meets Côte d'Ivoire's Minister of Commerce and Industry

Minister for Trade Inkyo Cheong met Souleymane Diarrassouba, Minister of Commerce and Industry for the Republic of Côte d'Ivoire, on June 4 at the Lotte Hotel Seoul to sign the Korea- Côte d'Ivoire Trade and Investment Promotion Framework (TIPF) agreement and discuss measures for bilateral trade, investment, and economic cooperation. date2024-06-07

Trade Minister meets Malawi’s Minister of Finance and Economic Affairs

Minister for Trade Inkyo Cheong met Sosten Gwengwe, Malawi’s Minister of Finance and Economic Affairs, on June 4 at the Lotte Hotel Seoul to sign the Korea-Malawi Trade and Investment Promotion Framework (TIPF) agreement and discuss measures for bilateral trade, investment, and energy cooperation. date2024-06-07

Trade Minister meets Sierra Leone’s Minister of Trade and Industry

Minister for Trade Inkyo Cheong met Ibrahim Alpha Sesay, Sierra Leone’s Minister of Trade and Industry, on June 4 at the Lotte Hotel Seoul to discuss measures for bilateral trade and investment cooperation. date2024-06-07

Trade Minister meets Kenya’s Principal Secretary-State Department for Investment Promotion

Minister for Trade Inkyo Cheong met Abubakar Hassan Abubakar, Principal Secretary-State Department for Investment Promotion at Kenya’s Ministry of Investment, Trade and Industry, on June 4 at the Lotte Hotel Seoul to discuss measures for bilateral trade and investment cooperation. date2024-06-07

Trade Minister attends Korea-Africa Business Partnership 2024

Minister for Trade Inkyo Cheong attended the Korea-Africa Business Partnership 2024 on June 4 at COEX, along with representatives of African countries’ governments, public institutions, and companies, as well as Korean companies and related institutions. date2024-06-07

Korea and Africa boost business partnerships on margins of bilateral summit

The Ministry of Trade, Industry and Energy (MOTIE) co-hosted the Korea-Africa Business Partnership 2024 with the Ministry of SMEs and Startups (MSS) and the Public Procurement Service (PPS) on the margins of the Korea-Africa Summit 2024 on June 4 at InterContinental Seoul COEX, co-organized by Korea Trade-Investment Promotion Agency (KOTRA) and Korea SMEs and Startups Agency (KOSMES).   A total of 17 African countries and their 55 companies in areas of trade, energy, plant, and critical minerals participated in the Business Partnership and held 508 business meetings with 194 Korean firms, generating an estimated USD 0.1 billion worth of potential business deals. Further outcomes are anticipated in terms of export diversification, project win competitiveness, and stronger supply chain cooperation.   A Korean food product exporter and retailer “A” managed to ink a $1 million export contract with a South African company “M” after a one-on-one meeting at the Business Partnership. Another Korean firm “W” entered a joint venture memorandum of understanding (MOU) for establishment of local manufacturing facilities in the East African home appliances market with Kenyan company “D” and Ethiopian company “B.” “W” will be the first Korean company to seal a manufacturing facility joint venture in Kenya and Ethiopia should the MOU translate into actual investment.   Korea-Africa Business Partnership 2024 was the first and largest singular business consultation event held in Korea with exclusive focus on Africa, reaffirming the two sides’ mutual commitment for expanding economic cooperation. MOTIE, along with five other ministries and related institutions, plan to continue with follow-up support through KOTRA’s head office and regional headquarters in Africa so that the business consultations can lead to concrete export deals and bid project wins. date2024-06-04