Ministry of Trade, Industry and Energy

Korea-Middle East cooperation to enter new era of partnership

Trade, Industry and Energy Minister Bang Moon Kyu chaired the second Korea-Middle East Economic Cooperation Public-Private Joint Committee meeting, where they reviewed achievements and implementation methods, project progress by each department, and issues and suggestions from individual companies. MOTIE reported that since the start of the Yoon Suk Yeol administration, 143 contracts and memorandums of understanding (MOUs) were signed between the two sides worth approximately USD 87.4 billion, date2023-11-10

Global efforts for cooperation in GHG reduction gather in Busan

The Ministry of Trade, Industry and Energy (MOTIE) is holding “Global Net Zero Connection in Korea” through November 9-10 in Busan for discussions on measures for cooperation in the reduction of greenhouse gas (GHG) emissions with 10 other countries, including Bangladesh, Cambodia, Indonesia and Vietnam. Hosted by MOTIE and organized by the Korea Trade-Investment Promotion Agency (KOTRA), “Global Net Zero Connection in Korea” is an event bringing together government inst date2023-11-10

FTZ Innovation Strategy Forum lays out 30-year roadmap for Korea's free trade zones

The Ministry of Trade, Industry and Energy (MOTIE) held the first Free Trade Zone (FTZ) Innovation Strategy Forum on November 7, and discussed the strategic policy outlook for FTZs over the coming three decades with industry and regional experts, and business leaders. At the forum, a reassessment of the progress was made over the last 50 years, starting from the point when FTZs were first established. An interim report was also shared on the innovation strategy set to shape the development of F date2023-11-09

Korea to bolster economic cooperation with Tanzania

Minister for Trade Dukgeun Ahn visited Dodoma, the capital of Tanzania, on November 8 as a Special Presidential Envoy to strengthen economic cooperation with the East African nation amid the rising strategic importance of the African continent as a new export market and major reservoir of mineral resources. The trade minister’s visit was accompanied by a public-private joint economic delegation composed of representatives of relevant organizations and companies, including the Export-Impor date2023-11-09

Korea to strengthen economic cooperation with Trinidad and Tobago

Trade, Industry and Energy Minister Bang Moon Kyu visited the Republic of Trinidad and Tobago as Special Presidential Envoy to strengthen industrial and energy cooperation with Latin American nations on November 2, on the heels of his visit to Chile (Oct. 29-Nov.1). This is the first visit made to the Caribbean island country by Korea’s trade, industry and energy minister. The visit was accompanied by an economic delegation composed of 28 representatives of public and private organization date2023-11-09

Korea discusses trade and energy cooperation with Malta

Trade, Industry and Energy Vice Minister Kang Kyungsung met Ian Borg, Malta’s Minister for Foreign and European Affairs and Trade, on November 7 in Seoul and discussed measures for expanding trade and investment, eco-friendly energy cooperation and other bilateral economic collaboration measures. Vice Minister Kang noted that, while the bilateral trade volume between Korea and Malta is not large, there exists various aspects that call for greater trade and investment, such as Malta’ date2023-11-08

Global companies pledge $940 mln investment into Korea at Invest Korea Summit 2023

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 7 that the nation’s largest investment promotion event, the Invest KOREA Summit, held that day at BEXCO in Busan drew in approximately USD 940 million (KRW 1 trillion) worth of investments into Korea. Prime Minister Han Duck-soo attended the investment declaration ceremony held during the Summit, where five global companies pledged investments of $940 million into Korea and submitted declarations to MOTIE Minister Ba date2023-11-08

Korea and Japan discuss future economic cooperation at 16th Industrial Technology Fair

The Ministry of Trade, Industry and Energy (MOTIE), together with the Korea-Japan Cooperation Foundation for Industry and Technology and Japan-Korea Cooperation Foundation for Industry and Technology, launched the 16th Korea-Japan Industrial Technology Fair on November 7 and proposed future directions for bilateral economic cooperation. Launched in 2008, the 16th Korea-Japan Industrial Technology Fair has served as the primary venue for Korea-Japan business exchanges between both countries&rsqu date2023-11-07