Ministry of Trade Industry and Resources

Trade Minister attends Digital Trade International Conference 2022

Minister for Trade Dukgeun Ahn attended the Digital Trade International Conference 2022 on December 12 at COEX in Seoul, held for sharing international trade regulation issues and rapid changes in the trade environment from digital transition, in order to seek opportunities and meet challenges.   The Trade Minister gave a keynote speech on how “digital trade is a critical agenda for Korean industries’ future competitiveness,” and stated that proactive digital trade polic date2022-12-13

Korea's automobile export value grows 31.0% in November

The Ministry of Trade, Industry and Energy announced on December 12 that Korea’s automobile production, domestic sales and exports (units) all recorded double-digit growth of 25.4 percent, 8.4 percent and 25.0 percent, respectively. Automobile exports in value increased 31.0 percent to USD 5.4 billion. This is the fourth consecutive month for all the indices above to show growth. Automobile output in November climbed 25.4 percent to 379,797 units, rising for the seventh consecutive mont date2022-12-13

Korea attends 1st official round of IPEF negotiations

Trade, Industry and Energy Ministry’s Deputy Minister for Trade Negotiations Kim Jeong-hoi is heading the Korean delegation attending the first official round of negotiations of the Indo-Pacific Economic Framework for Prosperity (IPEF) in Australia through December 10-15 to discuss supply chain, digital, clean energy and other new trade issues that are gaining in importance since the pandemic. The delegation is composed of officials from the Ministry of Trade, Industry and Energy (MOTIE), date2022-12-13

Government and National Assembly joint delegation visit U.S. to discuss IRA

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 9 that the Korean government and National Assembly’s joint delegation visited the U.S. through December 5-9 to meet with key members of the Biden Administration and U.S. Congress to discuss the Inflation Reduction Act (IRA). As the Biden administration is in the process of drawing up the IRA guidance based on opinions gathered from negotiations with major countries thus far, the delegation requested that Korea’ date2022-12-12

Trade Minister discusses IRA in Washington D.C.

Minister for Trade Dukgeun Ahn met with U.S. Trade Representative (USTR) Katherine Tai during his visit to Washington D.C. on December 8 and discussed possible solutions for Inflation Reduction Act (IRA), WTO reform and GSSA.    Trade Minister Ahn also met with Wally Adeyemo, U.S. Deputy Secretary of the Treasury, to discuss matters on IRA.    date2022-12-12

MOTIE announces measures to improve foreign investment environment

The Ministry of Trade, Industry and Energy (MOTIE) announced on December 8 the measures to revise unreasonable regulations and improve investment environment, prepared together with relevant Ministries for enhancing investment conditions for foreign-invested companies. The Government began a survey on foreign-invested companies in June via conferences via Korea Chamber of Commerce and Industry (KCCI) and direct surveys, gathering 454 opinions which were then narrowed down to 40 specific im date2022-12-09

Trade Minister attends Korea-U.S. Industrial Technology Cooperation Forum

Minister for Trade Dukgeun Ahn visited Washington D.C. on December 8 to attend the Korea-U.S. Industrial Technology Cooperation Forum and met with high-ranking U.S. officials and industry leaders to discuss high-tech and supply chain cooperation.   Attendees included Darren Soto, U.S. Representative, Bart Maroney, Acting Deputy Assistant Secretary for Manufacturing and Executive Director of the Office of Manufacturing Industry and Analysis, and Semiconductor Industry Association (SIA) Cha date2022-12-09

MOTIE holds 59th Trade Day

The Ministry of Trade, Industry and Energy (MOTIE) held the 59th Trade Day ceremony on December 5 at COEX in Seoul with the Korea International Trade Association (KITA). This year’s ceremony is meaningful in that Korea recorded highest-ever exports amid the COVID pandemic, Russia-Ukraine war and numerous countries’ interest hikes. Contributors to trade advancement were awarded various Tower Orders of Industrial Service Merit. To commemorate the first Trade Day since inauguration, t date2022-12-07

Trade Minister attends 59th Trade Day with President Yoon

Trade, Industry and Energy Minister Lee Chang-yang attended the 59th Trade Day ceremony on December 5 at COEX with President Yoon Suk-yeol, held under the slogan, “Taking on the Trade Powerhouse Challenge! South Korea takes the Leap!”    The ceremony was attended by various trade and industry representatives, including Korea International Trade Association (KITA) Chairman Koo Ja-yeol.   date2022-12-07

Korean delegation visits U.S. to negotiate IRA amendment

Minister for Trade Dukgeun Ahn will be visiting Washington D.C. through December 5-9 (local time) as member of South Korea’s delegation to negotiate the Inflation Reduction Act (IRA) with key figures of the Biden administration and U.S. Congress. The delegation is composed of Government officials and National Assembly members, including the Trade, Industry and Energy Ministry’s Small and Medium Venture Business Committee Chairman Yoon Kwan-seok. The delegation will be discussing IR date2022-12-06