Ministry of Trade, Industry and Energy

Korea and UK bolster nuclear energy cooperation on occasion of state visit

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 21 that a total of nine MOUs are to be sealed between Korea and the UK on the occasion of President Yoon Suk Yeol’s state visit to the UK. Korea’s strengths in nuclear reactor construction and manufacturing of equipment and materials, combined with the UK’s competitiveness in nuclear decommissioning and nuclear fuel, are viewed to create meaningful synergy. MOTIE’s Minister Bang Moon Kyu and the UK date2023-11-22

Korea and UK to join hands for Clean Energy Partnership

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 21 that on the occasion of President Yoon Suk Yeol’s state visit to the UK from November 20-23, MOTIE and the UK’s Department for Energy Security and Net Zero will be entering a Clean Energy Partnership. Through the Clean Energy Partnership, the two countries will be reaffirming their consensus on the initiatives of the Carbon Free (CF) Alliance, expanding technology collaboration in clean energy and installing date2023-11-22

Korea and UK take economic cooperation to new heights, marking 140 years of diplomatic relations

Trade, Industry and Energy Minister Bang Moon Kyu will be attending the Korea-UK Business Forum on November 22, co-hosted by the Federation of Korean Industries and the UK’s Department for Business and Trade on the occasion of Korean President Yoon Suk Yeol’s state visit to the UK. Approximately 200 persons will be attending the forum, consisting of Korea’s economic delegation members and both countries’ business leaders, to discuss cooperation in advanced industries, e date2023-11-22

Korea and UK to launch negotiations for upgrading bilateral FTA

Trade, Industry and Energy Minister Bang Moon Kyu and the UK’s Secretary of State for Business and Trade Kemi Badenoch will be signing on November 22 the joint declaration on the launch of negotiations for upgrading the Korea-UK free trade agreement (FTA) on the occasion of the Korean President Yoon Suk Yeol’s state visit to the UK. The existing Korea-UK FTA was the first FTA the UK entered with an Asia country during Brexit and contributed to swiftly resolving uncertainties that ex date2023-11-22

Korean businesses embark on new chapter of expansion into Latin American market

The Ministry of Trade, Industry, and Energy (MOTIE) held the 27th Korea-Latin America Business Forum in Seoul, on November 20, to support the expansion of Korean enterprises into the Latin American market. Co-hosted by MOTIE, the Korea International Trade Association (KITA), the Korea Institute for International Economic Policy (KIEP), the Korean Council on Latin America & the Caribbean, and the International Construction Association of Korea, the event was attended by diplomatic delegations date2023-11-21

Korea boosts rare metal collaboration with resource-rich Mongolia

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Foreign Affairs (MOFA) held the first Korea-Mongolia Rare Metals Cooperation Joint Committee meeting on November 20 in Ulaanbaatar. The committee is headed by Deputy Minister for Energy Policy Lee Ho-hyeon and the Mongolian delegation by Mongolia's Mining and Heavy Industry Minister Jambal Ganbaatar. The attendees discussed measures for bolstering cooperation in the supply chain of rare metals and other critical minerals. T date2023-11-21

Advanced industries' foreign investment contributors awarded at Foreign Company Day 2023

The Ministry of Trade, Industry and Energy (MOTIE) held Foreign Company Day 2023 on November 21 to award those who contributed to promoting foreign investment and to facilitate communication and exchanges with foreign-invested companies. Now in its 23rd year, Foreign Company Day 2023 was attended by approximately 300 persons, including members of diplomatic missions from various countries like Italy, Switzerland and the Czech Republic, as well as the representatives of the Japanese, Canadian a date2023-11-21

Korea and Singapore discuss cooperation in new industries and carbon neutrality

Minister for Trade Dukgeun Ahn held a trade ministers’ meeting with Singaporean counterparts on November 21 in Singapore and the two sides agreed to expand forward-looking cooperation in achieving carbon neutrality, supply chain and digital economy. The two countries are aiming to upgrade their economic cooperation in new industries and strengthen the intraregional economic security through attaining joint goals like net zero by 2050 and enhancing supply chain resiliency. Trade Minister date2023-11-21