Ministry of Trade Industry and Resources

Korea's ICT exports achieve 13.9% growth in May

The Ministry of Trade, Industry and Energy announced on June 14 that Korea’s information and communications technology (ICT) industry exported $20.2 billion (up 13.9 percent) worth of goods in May. Imports expanded 19.8 percent to $12.6 billion, and the trade balance was a surplus of $7.6 billion, a historic high for May. Outbound shipments of all major products achieved growth, namely semiconductors, displays, computers and peripherals and mobile phones. Semiconductor exports advanced date2022-06-14

Trade Minister holds talks on sidelines of OECD 2022 Ministerial Council

Trade Minister Ahn Duk-geun met with European Commissioner for Trade Valdis Dombrovskis on June 9 at the OECD Paris Headquarters on the sidelines of the “2022 Meeting of the OECD Council at the Ministerial Level (MCM)” and discussed the new Korean regime’s vision and goals based on freedom, creativity and fairness, and exchanged views regarding the Korea-EU FTA implementation, climate change, digital economy and supply chain cooperation.   Minister Ahn also met with Sout date2022-06-14

Trade Minister attends OECD Ministerial Meeting

Trade Minister Ahn Duk-geun attended the '2022 Meeting of the OECD Council at the Ministerial Level (MCM)' in Paris on June 10 under the theme of 'The future we want: better policies for the next generation and a sustainable transition.”   Minister Ahn discussed measures for preventing unfair competition from trade distortions and carbon leakage, carbon reduction policy adjustments and efficiency improvement.   The meeting was attended by 38 countries, consisting of both OECD date2022-06-13

Trade Minister meets U.S. Senator to discuss mutual investment

Trade Minister Ahn Duk-geun held talks with U.S. Senator Tammy Duckworth at the Grand Hyatt Seoul on June 3 regarding the recent Korea-U.S. summit outcomes and measures for mutual expansion of investments. date2022-06-08

Trade Minister attends 54th South Korea-Japan Business Conference

Trade Minister Ahn Duk-geun attended the 54th South Korea-Japan Business Conference at the Lotte Hotel Seoul on May 30 to discuss joint response to global value chain paradigm changes and bilateral youth exchanges under the theme of “Opening the New Stage in South Korea-Japan Economic Connections.”   In his congratulatory message, Minister Ahn thanked the companies of both countries 'for their efforts to stimulate trade and investment amid the pandemic and difficult trade envi date2022-06-07

Trade Minister presides 27th Trade Promotion Committee meeting

Trade Minister Ahn Duk-geun presided the 27th Trade Promotion Committee on May 27 at the Government Complex Seoul in the attendance of various relevant ministries to discuss the Indo-Pacific Economic Framework (IPEF), Korea-U.S. summit follow-up measures and its economic implications. The Committee meeting was attended by officials from relevant ministries, including the Ministry of Economy and Finance, the Ministry of Foreign Affairs and the Ministry of Employment and Labor. In his opening re date2022-06-03

Trade Minister holds talks with Ambassador of the EU to the Republic of Korea

Trade Minister Ahn Duk-geun had talks with Maria Castillo-Fernandez, Ambassador of the European Union to the Republic of Korea, on May 27 at the Government Complex Seoul to discuss future industries and supply chain cooperation between Korea and the EU.   Minister Ahn stated that “EVs, batteries and semiconductors, and such future industries currently show very robust Korea-EU supply chain cooperation,” and added that “based on these bilateral collaborations, K date2022-06-03

Trade Minister holds 27th Trade Promotion Committee meeting

Trade Minister Ahn Duk-geun presided the 27th Trade Promotion Committee on May 27 at the Government Complex Seoul in the attendance of various relevant ministries to discuss the Indo-Pacific Economic Framework (IPEF), Korea-U.S. summit follow-up measures and its economic implications.   Minister Ahn delivered his opening remarks and facilitated discussions on the IPEF progress and future directions, in addition to the economic outcomes of the recent Korea-U.S. summit.    The C date2022-06-02

Korea's exports achieve 21.3% growth in May

The Ministry of Trade, Industry and Energy announced on June 1 that Korea’s May exports increased 21.3 percent to USD 61.5 billion. Imports expanded 32.0 percent to $63.2 billion, resulting in a trade deficit of $1.7 billion. Despite high interest rates, high prices and continued global supply chain instabilities, exports achieved positive growth for 19 months running, which is the third longest period of consecutive growth since 2000. Monthly exports recorded second in value to month of date2022-06-02

Minister Lee visits KITA and Global Supply Chain Analysis Center

Trade, Industry and Energy Minister Lee Chang-yang visited the Korea International Trade Association (KITA) and the Global Supply Chain Analysis Center located in Seoul on May 27 to receive a briefing on the recent supply chain and logistics concerns, and to discuss current global supply chain impact and future government trade policy directions.   At the Global Supply Chain Analysis Center, Minister Lee encouraged the site employees and had talks with KITA Chairman Koo Ja-yeol, during wh date2022-05-31