Ministry of Trade, Industry and Energy

Korea's economic delegation promotes World Expo 2030 Busan in Austria & Croatia

Minister for Trade Dukgeun Ahn is leading Korea’s public-private joint economic delegation to Austria and Croatia through February 15-17 for bilateral talks on expanding cooperation in economy and trade, and to draw support for Korea’s bid to host World Expo 2030 in Busan. As Europe is home to the largest number of Bureau International des Expositions (BIE) member states, the economic delegation will visit a total of 13 countries across the continent to promote World Expo 2030 Busan date2023-02-17

MOTIE launches public-private committee for Korea-Middle East economic cooperation

Trade, Industry and Energy Minister Lee held a meeting on February 16 with relevant ministries, institutions and private sector companies launching the Public-Private Joint Committee for Korea-Middle East Economic Cooperation (hereinafter “Committee”) at the Lotte Hotel Seoul. In his opening message, Minister Lee stated that amid recent difficult external and internal economic conditions, Korea successfully secured 58 B2B memorandums of understanding (MOUs) and agreements with Saudi date2023-02-16

Korea and GCC hold 7th round of FTA negotiations

The Ministry of Trade, Industry and Energy (MOTIE) is heading the Korean delegation for the seventh round of the Korea-GCC (Gulf Cooperation Council) Free Trade Agreement (FTA) official negotiations held through February 14-16 in Riyadh, Saudi Arabia. Led by chief negotiator Kwon Hye-jin of MOTIE, the Korean delegation consists of approximately 30 representatives of relevant ministries, including the Ministry of Economy and Finance (MOEF), Ministry of Oceans and Fisheries (MOF) and the Ministry date2023-02-15

Korea's ICT trade records surplus of $0.9 billion in January

The Ministry of Trade, Industry and Energy announced on February 14 that Korea's exports and imports of information and communications technology (ICT) goods in January recorded USD 13.1 billion (down 33.2 percent year-on-year) and $12.2 billion (down 1.1 percent), respectively, and the trade balance stood at a surplus of $0.9 billion. The decline in exports is attributable to the global economic downturn and continued slump across the semiconductor industry. By item, shipments of major export date2023-02-14

MOTIE holds 1st Trade Industry Forum to discuss major tasks for exports growth

Trade, Industry and Energy Minister Lee Chang-yang presided the first Trade Industry Forum for 2023 on January 13 at the Korea International Trade Association (KITA) in Seoul together with KITA Chairman Koo Ja-yeol to forecast this year’s economic and trade environment and discuss the 10 key tasks for reaching positive growth in exports and investment in 2023. Government officials, relevant institutions' personnel and academia experts attended the forum. Minister Lee assessed that “ date2023-02-14

Korea participates in U.S. HFCS & cohosts hydrogen roundtable

The Ministry of Trade, Industry and Energy (MOTIE) participated in the Hydrogen & Fuel Cell Seminar (HFCS) in California on February 7-9 and held a public-private joint roadshow for entering the U.S. hydrogen market. Organized by the U.S.’ Fuel Cell and Hydrogen Energy Association (FCHEA), HFCS is North America’s largest hydrogen event with over 40 years of history, offering a business exchange venue of opportunities for at least 70 companies and institutions to come together to date2023-02-10

MOTIE attends IPEF Pillars 2-4 special negotiation round

The Ministry of Trade, Industry and Energy (MOTIE) will be attending the special negotiation round for Pillars 2-4 of the Indo-Pacific Economic Framework for Prosperity (IPEF) to be held through February 8-11 in New Delhi, India, as part of the Korean delegation composed of officials of relevant ministries, including the Ministry of Economy and Finance (MOEF), Ministry of Foreign Affairs (MOFA) and the Ministry of Agro-Fisheries, Food and Rural Affairs (MAFRA), headed by MOTIE’s Deputy Min date2023-02-09

MOTIE attends MSP meeting for critical minerals supply chain

The Ministry of Trade, Industry and Energy (MOTIE), as part of the Korean delegation, attended on February 7 the Mineral Security Partnership (MSP) meeting presided by the U.S. Department of State on occasion of the Investing in African Mining Indaba conference (February 6-9) held in Cape Town, South Africa. The Korean delegation was led by the 2nd Vice Minister of the Ministry of Foreign Affairs (MOEF), and included representatives of relevant institutions like Korea Mine Rehabilitation and Mi date2023-02-08