Ministry of Trade, Industry and Energy

Vice Minister and Airbus DS CEO discuss measures to advance cooperation

The Ministry of Trade, Industry and Energy (MOTIE)’s Vice Minister Youngjin Jang met with Michael Schoellhorn, CEO of Airbus Defense & Space (Airbus DS), on September 13 in Seoul to exchange views on measures to expand cooperation between Korea and Airbus. Issues discussed include the establishment of the Airbus Korea International Technology Center (AKITC) in Korea, joint development of the technologies for the next-generation aircraft and low earth orbit small satellites. MOTIE also date2023-09-14

Korea and U.S. discuss measures to bolster trade & economic cooperation

Deputy Minister for Trade Jeong Dae-jin met with Ramin Toloui, U.S. Assistant Secretary of State for Economics and Business Affairs, on September 13 in Seoul and discussed measures to bolster economic and trade cooperation between Korea and the U.S. Deputy Trade Minister Jeong assessed that the relationship between the two countries, which began as a traditional security alliance, is progressing to one that encompasses economy, advanced technology, and supply chain following the Korea-U.S.-Japa date2023-09-14

Korea hosts Global Bio & Pharma Plaza 2023

The Ministry of Trade, Industry and Energy (MOTIE) is hosting the Global Bio & Pharma Plaza 2023 (GBPP 2023) from September 14-15 in Jamsil, organized by Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Pharmaceutical Traders Association (KPTA). Approximately 200 companies, including 100 overseas buyers like Merck and other big pharma companies from 31 countries, gather at the Lotte Hotel World in Jamsil to participate in over 900 export consultations with Korean firms. An Open date2023-09-14

Korea holds H2 MEET 2023

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 13 that the world’s largest hydrogen exhibition H2 MEET 2023 is held through September 13-15 at the Korea International Exhibition Center (KINTEX) in Ilsan, Gyeonggi Province. H2 MEET 2023 introduces outstanding products and technologies in areas of hydrogen production, storage, transportation and utilization developed by 303 companies and institutions from 18 countries around the world. The exhibition features mo date2023-09-14

Korea and Mongolia discuss measures to strengthen rare metals cooperation

Trade, Industry and Energy Vice Minister Kang Kyungsung met with Mongolia’s Mining and Heavy Industry Minister Jambal Ganbaatar on September 12 in Seoul to discuss measures for strengthening Korea-Mongolia cooperation in rare metals. Mongolia is a resource-rich home to molybdenum, pewter and other various rare metals, with a notably large reserve of rare earth minerals. As follow-up to the memorandum of understanding (MOU) signed in February between Korea’s Ministry of Trade, Indus date2023-09-13

Korea and Uzbekistan sign TIPF deal

Deputy Minister for Trade Jeong Dae-jin met with Uzbekistan’s Investment, Industry and Trade Deputy Minister Khamrayev Oybek Nematovich on September 12 at the Lotte Hotel Seoul, where they signed the Korea-Uzbekistan Trade and Investment Promotion Framework (TIPF) agreement, Korea’s seventh TIPF deal and a first with a Central Asian country. The TIPF is a new cooperation framework on which MOTIE is placing emphasis lately, a mechanism that can expand mutual economic cooperation and date2023-09-12

Korea participates in the 5th round of IPEF negotiations

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 11 that MOTIE’s Deputy Minister for FTA Negotiations Roh Keon-ki is heading the Korean delegation in the fifth round of the Indo-Pacific Economic Framework for Prosperity (IPEF) negotiations held from September 10-16 in Bangkok, Thailand. Fourteen countries are participating in this round: Korea, the U.S., Japan, Australia, New Zealand, Singapore, Thailand, Vietnam, Brunei, Malaysia, the Philippines, Indonesia, Indi date2023-09-12

Korea and Western Australia discuss measures for stronger energy supply chain cooperation

The Ministry of Trade, Industry and Energy (MOTIE)’s Vice Minister Kang Kyungsung met with Western Australia’s Premier Roger Cook on September 8 in Seoul to discuss measures for cooperation in energy areas like CCS (carbon capture and storage), clean hydrogen, ammonia, green steel, critical minerals, and natural gas, as well as a Korea-Western Australia memorandum for understanding (MOU) in energy cooperation. A number of Korean firms like SK E&S and GS Caltex plan to carry out date2023-09-11