Ministry of Trade, Industry and Energy

Korea and Bulgaria discuss measures for stronger trade and industrial cooperation

Minister for Trade Dukgeun Ahn met with Bulgaria’s Economy and Industry Minister Bogdan Bogdanov on December 6 in Seoul and discussed measures for stronger economic, trade, investment and industrial cooperation between the two countries. Noting that the two countries' collaboration, which used to revolve around photovoltaic power generation, is recently diversifying and expanding to other areas like automotive parts, Trade Minister Ahn said that he looks forward to their future cooperatio date2023-12-06

Korea holds roundtable for spreading CFE initiatives on sidelines of COP28

The Ministry of Trade, Industry and Energy (MOTIE) announced that it hosted a roundtable, organized by the Carbon Free (CF) Alliance, on December 5 in the United Arab Emirates (UAE) on the sidelines of the United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP28) for promoting the global diffusion of the carbon-free energy initiatives led by the CF Alliance. The roundtable was held to promote Korea’s carbon-free energy (CFE) initiatives to the i date2023-12-06

Korea to launch global projects to secure 180 vital and proprietary technologies

Trade, Industry and Energy Minister Bang Moon Kyu chaired the Chief Technology Officers’ Conference on December 5 at the Four Seasons Hotel Seoul with the chief technology officers (CTOs) of major companies and presented the Comprehensive Strategy for Global Technology Cooperation. Beginning 2024, the Ministry of Trade, Industry and Energy (MOTIE) plans to swiftly secure 80 “super gap” technologies and 100 industrial proprietary technologies by launching joint R&D projects date2023-12-05

Korea and EU hold 1st Industrial Supply Chain Policy Dialogue meeting

Trade, Industry and Energy Vice Minister Youngjin Jang and Kerstin Jorna, Director General of the European Commission’s Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW), held the first Korea-EU Industrial Supply Chain Policy Dialogue meeting on December 5 via videoconferencing, as follow-up to the agreement made in May on the occasion of the Korea-EU summit to expand the Korea-EU Industrial Policy Dialogue, launched in 2013, to cover cooperation in the date2023-12-05

Korea and China to strengthen service and supply chain cooperation through FTA

Minister for Trade Dukgeun Ahn led the Korean delegation in the fifth Korea-China Free Trade Agreement (FTA) Joint Committee meeting on December 4 in Beijing to discuss measures for expanding bilateral economic cooperation. The Chinese delegation was headed by International Trade Representative Wang Shouwen. With this year marking the ninth year since the FTA entered into force, Korea and China are seeing their bilateral trade volume increase 36.5 percent year-on-year in 2023. In commemoration date2023-12-04

Korea expands catered support for foreign investment in advanced industries

The Ministry of Trade, Industry and Energy (MOTIE) held the 113rd Foreign Investment Committee meeting to deliberate and vote on the revised bills of the Operation Guidelines for the Cash Grant System and the Guidelines for Operation of Foreign Investment Zones, which aim to expand foreign investment in advanced industries. The bills went into effect on December 3. First, with the revision of the Operation Guidelines for the Cash Grant System, foreign investment in advanced industries will be r date2023-12-04

Korea among 22 nations to declare support for the NetZero Nuclear Initiative

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 3 that 22 countries around the world, including Korea, the U.S., France, the UK and Sweden, have adopted the declaration on supporting the NetZero Nuclear Initiative. The NetZero Nuclear Initiative is a global climate agenda established for resolving climate crises by recognizing nuclear energy as clean energy, drawing international commitment on expanding the global nuclear power capacity three-fold by 2050, and spurring date2023-12-04

MOTIE and Japan's METI kick bilateral exchange into high gear

The Ministry of Trade, Industry and Energy (MOTIE) and Japan’s Ministry of Economy, Trade and Industry (METI) kicked bilateral exchanges into high gear by breaking the five-year hiatus of their respective soccer clubs’ joint activities on December 2 by resuming the exchange game in Osaka, Japan. MOTIE Minister Bang Moon Kyu and METI Minister Nishimura Yasutoshi both attended the sports exchange, and the two leaders held a luncheon conference that day to express commitment on invigo date2023-12-04