Ministry of Trade, Industry and Energy

Minister holds meeting with Korean companies operating in the Czech Republic

Trade, Industry and Energy Minister Dukgeun Ahn held a meeting with Korean companies operating in the Czech Republic on April 25 at the Korean embassy in Prague to listen to suggestions and local business issues. The meeting was attended by representatives of companies like Hyundai Motor, Hanwha Advanced Materials, Nexen Tire, and related institutions like KOTRA and KITA. date2024-04-26

Minister meets Czech Finance Minister

Trade, Industry and Energy Minister Dukgeun Ahn met with the Czech Finance Minister Zbynĕk Stanjura on April 25 in the Czech Republic to discuss measures for stronger bilateral cooperation. date2024-04-26

Deputy Trade Minister meets Poland’s Economic Development and Technology Deputy Minister

Deputy Minister for Trade Yang Byeong-nae met with Poland’s Economic Development and Technology Deputy Minister Jacek Tomczak on April 25 in Seoul and discussed measures for bolstering cooperation in trade, investment, industrial technology, and clean energy. date2024-04-26

Deputy Trade Minister meets Netherlands’ Infrastructure and Water Management Vice Minister

Deputy Minister for Trade Yang Byeong-nae met with the Netherlands’ Infrastructure and Water Management Vice Minister Kees Van der Burg on April 25 in Seoul and discussed measures for strengthening bilateral cooperation in mobility, battery, and supply chains. date2024-04-26

Trade Minister holds meeting for Korean youth's stronger WTO internship opportunities

Minister for Trade Inkyo Cheong held a conference on April 25 in Seoul with the presidents of nine domestic universities’ graduate schools of international studies and discussed measures for increasing internship opportunities for Korean university students at the World Trade Organization (WTO). date2024-04-26

Government and academia leaders discuss Korean youth's stronger WTO internship participation

Minister for Trade Inkyo Cheong held a conference on April 25 with the presidents of nine domestic universities’ graduate schools of international studies and discussed measures for increasing internship opportunities for young Korean talent at the World Trade Organization (WTO).   At the conference, government officials and academic leaders discussed ways to enable Korean youth’s stronger participation in WTO internship programs, including recommending outstanding students taking master’s and doctoral courses, considering alternative credit incentives for the selected student, and providing government support for living and flight expenses.   Noting the relatively low number of Korean students with career experience as WTO employee or intern despite the country ranking sixth in terms of global trade as of 2022, President Yoon Suk Yeol requested that the WTO increase internship participation opportunities for Korean students during bilateral talks with WTO Director General Ngozi Okonjo-Iweala in May 2023.   Trade Minister Cheong said that WTO work experience for Korean youth is key to enlarging Korea’s role within WTO and in training proficient trade experts, adding that efforts will be made to help Korea’s young talent to accumulate practical work experience and competitiveness through WTO internship programs and gain broader opportunities of working at international organizations. date2024-04-26

Deputy Trade Minister meets U.S. DOC Assistant Secretary

Deputy Minister for Trade Yang Byeong-nae met Ramin Toloui, Assistant Secretary for the Bureau of Economic and Business Affairs at the U.S. Department of State, on April 25 in Seoul to discuss measures for strengthening bilateral semiconductor industrial cooperation and investment. date2024-04-26

Trade Minister meets AfCFTA Secretary General

Minister for Trade Inkyo Cheong met with Wamkele Mene, Secretary General of the African Continental Free Trade Area (AfCFTA), on April 24 in Korea and exchanged views on expanding trade between Korea and African countries. date2024-04-26

Korea and U.S. discuss stronger semiconductor industrial cooperation and investment

Deputy Minister for Trade Yang Byeong-nae met Ramin Toloui, Assistant Secretary for the Bureau of Economic and Business Affairs at the U.S. Department of State, on April 25 in Seoul to discuss measures for strengthening bilateral semiconductor industrial cooperation and investment.   Deputy Minister Yang addressed the expanding Korea-U.S. cooperation in advanced industries and supply chains driven by Korean companies’ recently increasing investment in the U.S., stating that he looks forward to seeing synergy between Korean chip companies and U.S. firms and requested the U.S.’ support with respect to the CHIPS Act incentives in facilitating Korean firms’ investment in the U.S.   Moreover, he articulated Korean firms’ concerns over the extensive scope of the U.S.’ ongoing anti-dumping investigations on Korean aluminum extrusions and recent issues on visas required for Korean companies’ overseas personnel education and plant equipment handling, asking for interest and cooperation at the U.S. State Department level.   Assistant Secretary Toloui noted the strengthening public-private cooperation between the two countries and said that careful consideration will be given with regard to the above requests. date2024-04-25

Trade Minister and AfCFTA Secretary General discuss stronger Korea-Africa trade cooperation

Minister for Trade Inkyo Cheong met with Wamkele Mene, Secretary General of the African Continental Free Trade Area (AfCFTA), on April 24 in Korea on the occasion of the upcoming Korea-Africa Summit (June 2024) and exchanged views on expanding trade between Korea and African countries.   Noting the global rise of protectionism, Trade Minister Cheong highly assessed African countries’ efforts to achieve growth based on intraregional free trade and through the launch of AfCFTA (January 2021), assuring Korea’s strong support in the process.   Moreover, he warmly welcomed Secretary General Mene’s planned participation in the Korea-Africa Summit 2024, an event for establishing mutually beneficial, sustainable, and long-term cooperative ties between Korea and Africa. The trade chief also asked for interest and support towards the Economic Partnership Agreement (EPA) underway on the margins of the Summit among Korea and three African countries, namely Morocco, Kenya, and Tanzania.   Meanwhile, MOTIE plans to hold a business summit on the occasion of the bilateral Summit in June with joint organization by five major economic groups, led by the Korea International Trade Association (KITA). On the sidelines, Korea Trade-Investment Promotion Agency (KOTRA) will hold a business partnership event for bolstering economic cooperation and creating opportunities for tangible business outcomes between Korea and African countries. date2024-04-25