Ministry of Trade, Industry and Energy

Korea and U.S. hold Clean Energy Business Roundtable

The Republic of Korea and the United States hold the Clean Energy Business Roundtable - Sharing public-private dialogue between Korea's Carbon-Free (CF) Alliance and the U.S.'s Clean Energy Demand Initiative (CEDI) - Discussion on ways to utilize carbon-free energy and expand investment in clean power ensued The Ministry of Trade, Industry, and Energy led by Minister Bang Moon Kyu and U.S. Under Secretary of State for Economic Growth, Energy, and the Environment Jose W. Fernandez led the 'Kor date2023-11-17

Korean and U.S. institutions join hands for technology cooperation in advanced industries

Trade, Industry and Energy Minister Bang Moon Kyu met with Stanford University President Richard Saller and other professors in the field of bio and robotics, on November 17 on the occasion of attending the Asia-Pacific Economic Cooperation (APEC) summit meetings, and discussed measures for expanding the scope of Korea-U.S. cooperation in advanced technologies. During the meeting, Minister Bang laid out three measures he plans to carry out next year: drastically increase support for internation date2023-11-17

Trade Minister attends trade & foreign ministerial APEC meeting in San Francisco

Minister for Trade Dukgeun Ahn attended Session II of the Asia-Pacific Economic Cooperation (APEC) trade and foreign ministerial meetings held on November 15 in San Francisco, chaired by U.S. Trade Representative Katherine Tai, and proposed two reform measures for establishing a more connected and resilient trade and investment system for the Asia-Pacific region. First, Trade Minister Ahn stated that the World Trade Organization (WTO) MC13, to be held in the United Arab Emirates (UAE) in 2024, date2023-11-17

Minister Bang and U.S. Secretary of Commerce discuss cooperation in advanced industries and trade issues

Trade, Industry and Energy Minister Bang Moon Kyu, on the occasion of attending the Asia-Pacific Economic Cooperation (APEC) summit meetings held through November 15-17 in San Francisco, met with U.S. Secretary of Commerce Gina Raimondo on November 15 and discussed measures for expanding bilateral cooperation in semiconductors and advanced industries, and requested continued cooperation in major trade issues. Minister Bang assessed that the two countries have been expanding collaboration in var date2023-11-16

Trade Minister holds bilateral talks on sidelines of IPEF & APEC meetings

Minister for Trade Dukgeun Ahn held bilateral talks with the trade leaders of five countries on the sidelines of the Indo-Pacific Economic Framework for Prosperity (IPEF) ministerial meetings and Asia-Pacific Economic Cooperation (APEC) summit, held through November 12-16 in San Francisco, to discuss trade issues. He also asked other countries’ support for World Expo 2030 Busan and their participation in the Carbon Free (CF) Alliance. Trade Minister Ahn first met with Katherine Tai, the U date2023-11-16

Korea's auto exports for Jan-Oct surpass last year's record

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 15 that Korea’s accumulated automobile export value from January through October nears USD 58 billion, already surpassing the annual export value of last year ($54.1 billion), a previous all-time high, and also exceeding the $57 billion that was set (announced May 23) as this year’s total automobile export target. The monthly automobile export value has been on a growth streak for 16 consecutive months since Ju date2023-11-16

Korea's ICT exports fall 4.5% in October

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 14 that Korea's exports and imports of information and communications technology (ICT) goods for October recorded USD 17.1 billion (down 4.5 percent year-on-year) and $12.6 billion (down 8.3 percent), respectively. The trade balance stood at a surplus of $4.4 billion. The ICT export decline rate recorded the lowest year-on-year as the unit price of memory chips rose and their export value posted growth for the first time i date2023-11-16

137th FEZ Committee reviews plans for new district additions

The Korean government held the 137th Free Economic Zone Committee meeting on November 13, chaired by Trade, Industry and Energy Minister Bang Moon Kyu, to review new district proposals and changes in development plans aimed at expanding key strategic industries and associated sectors. The Ulsan Free Economic Zone submitted an application to the Committee for three additional districts, in response to the need to surpass the growth limitations of current industries and foster new growth sectors date2023-11-15