Ministry of Trade, Industry and Energy

Korea Seeks Cooperation With 15 African Countries

High-level officials and business leaders from 15 African countries visited Korea last week to attend the fourth Korea-Africa Industry Cooperation Forum. It was a valuable opportunity to establish a network with potential partners in Korea and exchange information about projects in the energy, resources and construction sectors. African government officials showcased promising projects and presented economic cooperation plans in three separate sessions, each dealing with a different business area. Minister of Knowledge Economy Choi Joong-Kyung said in his opening remarks that Africa, with its abundant energy and mineral resources and a population of about 1 billion, would emerge as a superpower within the next decade just as China and India are now. Minister Choi also met separately with Ministers from Ghana, Zimbabwe, South Sudan, the Republic of the Congo and Niger to discuss cooperation in the energy, resources and construction sectors. The Minister also said Korea’s development experience and technology could help Africa strengthen its capacity for self-reliance in achieving sustainable economic development. * Released by the Middle East and Africa Division date2011-11-07

Korea Takes an Active Role in Indonesia’s Economic Development

The task force hopes to develop practical strategies to promote cooperation on the master plan, as well as landmark projects that will symbolize the strong ties between Korea and Indonesia. Composed of government officials and business leaders representing both countries, it held its initial meeting in Indonesia five months ago. Following this second working-level meeting, Minister of Knowledge Economy Choi Joong-Kyung met separately with his Indonesian counterpart, Coordinating Minister for Economic Affairs Hatta Rajasa, to evaluate the outcome. Both Ministers expressed satisfaction with the working-level delegates’ efforts and reaffirmed the importance of bilateral economic cooperation. * Released by the Southeast Asia and Oceania Division; the Components and Materials Division; and the Oil, Gas and Mineral Resources Development Division date2011-11-02

Vice Minister greets his Saudi Arabian counterpart

Vice Minister for Industry and Technology Yoon Sang-Jick greets his Saudi Arabian counterpart, Vice Minister of Economy and Planning Ahmed I. Al Hakami, on October 18 in Gwacheon. The two officials exchanged views on bilateral cooperation involving energy, construction, plants, industry and knowledge sharing. date2011-10-31

Vice Minister Meets with Indian Counterpart

Vice Minister Meets with Indian Counterpart Vice Minister for Industry and Technology Yoon Sang-Jick (fourth from left) meets with his Indian counterpart, Secretary to the Department of Chemicals and Petrochemicals Jose Cyriac (second from left), on October 5 in Seoul. The two officials shared ideas about how to develop the chemical industry. date2011-10-07

Korea Stepping Up Cooperation with China`s Guangdong Province

Korea and the Chinese province of Guangdong recently held the second Korea-Guangdong Economic and Trade Development Forum. With high-profile business leaders from both sides in attendance, the forum was a valuable opportunity to discuss bilateral collaboration in the energy and high-tech industrial sectors. Guangdong is leading the Chinese economy thanks to its active efforts to open its markets; for 22 years it has consistently recorded the highest GDP among China’s 22 provinces, four municipalities and five autonomous regions. With the sole exception of Gansu province, Guangdong also leads the rest of China in trade with Korea. date2011-09-27

Korea Stepping Up Investment Cooperation with Hong Kong and Singapore

Korea Stepping Up Investment Cooperation with Hong Kong and Singapore Vice Minister for Trade and Energy Kim Junggwan travelled to Hong Kong and Singapore recently to promote investment partnerships. At forums in both countries, Vice Minister Kim encouraged investors to take an active role in forming partnerships and explained promising projects in diverse industries: finance, real estate, green business, and parts and materials. “Hong Kong and Singapore are among Korea’s key tradi date2011-09-14

Korea, Uzbekistan Strengthen Industrial Partnership

Korea, Uzbekistan Strengthen Industrial Partnership During President Lee Myung-bak’s recent trip to Central Asia, Korea and Uzbekistan stepped up industrial and energy cooperation at the Korea-Uzbekistan Business Forum. The forum resulted in memorandums of understanding in seven areas—most notably textile manufacturing, rare metals, and a package-type project to develop Uzbekistan’s Surgil gas field and build gas and chemical plants. The national leaders of the two countries e date2011-09-01

Korea, Mongolia Pursuing Stronger Energy Ties

Korea, Mongolia Pursuing Stronger Energy Ties Korea and Mongolia have decided to broaden the scope of their energy ties with active government-level cooperation on power generation, renewable energy and climate change. Previously, energy cooperation between the two countries centered almost exclusively on mineral resources development. Minister of Knowledge Economy Choi Joong-Kyung and his Mongolian counterpart, Minister of Mineral Resources Zorigt Dashdorj signed a memorandum of understanding date2011-08-26

Korea, Colombia to Cooperate on Green Growth

Korea, Colombia to Cooperate on Green Growth Minister of Knowledge Economy Choi Joong-Kyung and Colombian Minister of Mines and Energy Carlos Enrique Rodado shake hands after signing a memorandum of understanding on September 14 in Seoul. The deal will enhance bilateral cooperation on mineral resources and green industries. date2011-08-23

Korea, Africa Cultivate Friendship

Vice Minister for Trade and Energy Kim Junggwan (fifth from left) stands with African partners at the third Korea-Africa Round Table Meeting on June 29 in Seoul. Ambassadors from 16 African countries and representatives from Korean companies with operations in Africaworkedcloselytoshareinformation. date2011-07-07