Ministry of Trade Industry and Resources

Korea's auto exports value grows 28.5% in October

The Ministry of Trade, Industry and Energy announced on November 11 that Korea’s October automobile production, domestic sales and exports all recorded double-digit growth of 24.2 percent, 15.2 percent and 30.2 percent, respectively. Automobile exports in value increased 28.5 percent to USD 4.9 billion. Despite the identical number of operating days as those of previous year, automobile output in October climbed 24.2 percent to 327,486 units on the backs of a base effect from automotive date2022-11-11

Minister attends 6th Korea-Shandong Economic and Commercial Cooperation Exchange

Trade, Industry and Energy Minister Lee Chang-yang attended the sixth meeting of the Korea-Shandong Economic and Commercial Cooperation Exchange on November 9 and held talks with Li Ganjie, Communist Party Secretary of Shandong province, on bilateral cooperation across industrial sectors, supply chain, logistics and stronger substantial collaboration. date2022-11-11

MOTIE holds 6th Korea-Shandong Economic and Commercial Cooperation Exchange

Trade, Industry and Energy Minister Lee Chang-yang attended the sixth meeting of the Korea-Shandong Economic and Commercial Cooperation Exchange (hereinafter “Exchange”) on November 9, held via videoconferencing. Launched in 2016, the Exchange is an annual event where Korea and the Shandong province discuss economic cooperation and seek ways to support the stabilization of Korean companies located in the province. Approximately 120 persons attended this year’s Exchange. Prior date2022-11-11

MOTIE co-hosts 1st Korea-U.S. Exports Controls Working Group meeting

The Ministry of Trade, Industry and Energy (MOTIE) co-hosted the 1st Korea-U.S. Exports Controls Working Group meeting on November 8 in Seoul with the U.S. Department of Commerce (DoC). The Korean delegation was led by Moon Dong-min, MOTIE’s Deputy Minister for Trade and Investment, and the U.S.’ was led by Thea Kendler, Assistant Secretary of Commerce for Export Administration. The meeting is a follow-up to the Supply Chain and Commercial Dialogue (SCCD) MOU signed between MOTIE a date2022-11-08

MOTIE holds CBAM Countermeasures Conference

Minister for Trade Dukgeun Ahn presided the EU’s Carbon Border Adjustment Mechanism (CBAM) Countermeasures Conference on November 3 at the Korea Chamber of Commerce and Industry (KCCI) to led discussions on CBAM legislation progress and Korea’s response measures.   The conference was attended by representatives of various companies and organizations, including POSCO, Hyundai Steel, Korea Nonferrous Metal Association and Korea Petrochemical Industry Association.   &n date2022-11-04

Minister for Trade attends IPEF Symposium

Minister for Trade Dukgeun Ahn attended the Indo-Pacific Economic Framework for Prosperity (IPEF) Symposium on November 3 in Seoul, held under the theme of “Order in the Indo-Pacific Region and Korea’s Negotiation Strategy: Economic Security and Trade Cooperation.”   In his congratulatory message, Minister Ahn stated that “the international order is rapidly changing due to geopolitical factors like the intensifying U.S.-China competition and Ukraine situation,&rdqu date2022-11-04

MOTIE hosts Invest Korea Week 2022

The Ministry of Trade, Industry and Energy (MOTIE) announced on November 2 that it was hosting Invest Korea Week (IKW) 2022 with co-organizers Korea Trade-Investment Promotion Agency (KOTRA) and Korea International Broadcasting Foundation (KIBF) at Grand InterContinental Seoul Parnas over a period of three days from November 2 to November 4. IKW aims to share Korea’s attractive investment environment and all-time high FDI achievements in 2022, which are all the more meaningful amid the cu date2022-11-03

MOTIE attends Foreign Company Day 2022

Minister for Trade Dukgeun Ahn attended the Foreign Company Day 2022 ceremony on November 1 at Intercontinental Hotel Seoul to award 44 companies’ representatives orders and merits of honor for their contribution to boosting FDI.   Minister Ahn gave a congratulatory message, stating that “foreign-invested companies have played the catalyst in advancing Korea’s industrial structure and recently are even stabilizing the supply chain by investing in MPE (materials, parts, date2022-11-02

MOTIE holds 30th Trade Promotion Committee

Dukgeun Ahn, Minister for Trade, presided the 30th Trade Promotion Committee on November 2 at the Korea Chamber of Commerce and Industry (KCCI) to discuss countermeasures to EU’s Carbon Border Adjustment Mechanism (CBAM) legislation and agendas on Korea-Philippines Digital Partnership Agreement (DPA).   The meeting was attended by officials of MOTIE and other ministries, including the Ministry of Economy and Finance, Ministry of Foreign Affairs and the Office for Government Policy date2022-11-02

MOTIE holds 30th Trade Promotion Committee & 4th IRA Countermeasures TF

Dukgeun Ahn, Minister for Trade, presided the 30th Trade Promotion Committee on November 2 at the Korea Chamber of Commerce and Industry (KCCI) and spoke in his opening message on Korea’s progress in climate change response and industrial competitiveness with respect to legal and systemic enforcement. He emphasized that it is crucial for the Government and companies to take utmost care in responding to other countries’ policies so they do not end up facing limitations or discriminat date2022-11-02