Ministry of Trade, Industry and Energy

MOTIE holds conference for sharing foreign investment regulatory improvement outcomes & future direction

The Ministry of Trade, Industry and Energy (MOTIE) held a conference on December 18 at the Korea Chamber of Commerce and Industry (KCCI), chaired by MOTIE's International Trade & Investment Deputy Minister Kim Wan-ki, to share foreign investment policy trends, regulatory improvement outcomes and discuss the challenges voiced by foreign-invested companies. The conference was attended by approximately 20 persons, consisting of representatives of the Chambers of Commerce of seven countries, in date2023-12-19

Korea and Mongolia launch first official negotiating round for EPA

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 18 that the first round of official negotiations for the Korea-Mongolia Economic Partnership Agreement (EPA) will be held through December 18-20 in Seoul. Ahn Chang-yong, MOTIE’s Director General for FTA Policy, and Batkhuu Idesh, State Secretary of Mongolia’s Ministry of Economy and Development, are each heading their respective delegations composed of a total of approximately 100 members from both countries. date2023-12-18

MOTIE to disclose and receive public opinion on Korea-Ecuador SECA draft

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 17 that the ministry will disclose on the Korean government's Free Trade Agreement (FTA) website (www.fta.go.kr) both the Korean and English draft versions of the Korea-Ecuador Strategic Economic Cooperation Agreement (SECA) from December 18, 2023, to January 6, 2024, on which the ministry will also receive public opinion. Public opinions are to be received in accordance with MOTIE’s rules on procedural regulations f date2023-12-18

Korea and Saudi Arabia follow up on economic summit diplomacy outcomes for cooperation in EVs and bio

Trade, Industry and Energy Minister Bang Moon Kyu met with Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef on December 15 in Seoul to review Korea-Saudi economic summit diplomacy outcomes and discuss follow-up measures. Minister Alkhorayef is the first Saudi high-level official to visit Korea following the state visit made by President Yoon Suk Yeol in October. During the talks between the two industry ministers, Minister Bang affirmed that the implemen date2023-12-18

MOTIE announces vision and strategy for advanced robotics industry as new growth engine

Trade, Industry and Energy Minister Bang Moon Kyu chaired the Advanced Robotics Industrial Strategy Meeting on December 14 at Mando NEXT M in Pangyo and presented the “Advanced Robotics Industry Vision and Strategy” that aims to heighten the industry’s productivity, respond to demographic changes and nurture the robotics industry into the nation’s new growth engine. For the advanced robotics industry, the scope of downstream industries is not limited to traditional manuf date2023-12-15

Korea's accumulated auto exports hit record-breaking $64.5 bln in November

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 14 that Korea’s automobile export value for January-November this year in accumulation reached a record-breaking USD 64.5 billion, and the annual automobile export value for 2023 is anticipated to surpass $70 billion for the first time in auto export history. November export value for automobiles also recorded a monthly all-time high of $6.53 billion, surpassing the previous all-time high of $6.50 billion in March th date2023-12-15

Korea's ICT exports grow 7.6% in November

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 14 that Korea's exports and imports of information and communications technology (ICT) goods for November recorded USD 17.9 billion (up 7.6 percent year-on-year) and $11.4 billion (down 10.9 percent), respectively. The trade balance stood at a surplus of $6.4 billion. ICT exports snapped the losing streak after 17 months of decline as semiconductor exports posted growth for the first time in 16 months. By item, semiconduc date2023-12-15

Total of 19 MOUs sealed at Korea-Netherlands Business Forum for cooperation in advanced industries and more

Minister for Trade Dukgeun Ahn and the Netherlands' Minister of Economic Affairs and Climate Policy Micky Adriaansens attended the Korea-Netherlands Business Forum on December 13, co-hosted by the Korea International Trade Association (KITA), the Dutch Foreign Affairs Ministry and VNO-NCW, the Dutch employers' federation. This was the first large-scale business forum held by the two countries, attended by approximately 200 business representatives to discuss measures for widening bilateral coope date2023-12-14