Ministry of Trade Industry and Resources

Trade Minister holds pan-ministerial 25th Trade Committee Meeting

Trade Minister Yeo Han-koo held the pan-ministerial 25th Trade Committee Meeting in Government Complex Seoul on February 24 to discuss response measures in light of the Russia-Ukraine crisis, changing landscape of the Asia-Pacific region’s trade order, and future pursuits for digital trade partnerships. The trade chief stressed the following two points at the beginning of the meeting. One is that the meeting aims to assess the impact of Russia-Ukraine situation on the region’s real date2022-02-28

Korea and Australia sign MOUs on critical minerals and supply chain

Energy Vice Minister Park Ki-young attended the 1st Critical Minerals Working Group Meeting held in Canberra, Australia on February 24 to discuss the two countries’ bilateral cooperation on critical minerals and supply chain. At the meeting, Vice Minister Park delivered opening remarks and exchanged views with Australian counterparts on Korea-Australia critical minerals strategy and R&D cooperation measures. He also attended the signing ceremony of 6 MOUs between the two countries&rsq date2022-02-28

MOTIE holds 25th Trade Committee Meeting

Trade Minister Yeo Han-koo held the 25th Trade Committee Meeting in Government Complex Seoul on February 24 in the presence of relevant ministries’ officials in order to assess the economic impact from the current Russia-Ukraine crisis and push prompt measures in response to the changing Asia-Pacific trade landscape.   The trade chief delivered an opening message, in which he addressed the current military tension buildup and need for an overall monitoring of trade and commerce envi date2022-02-28

MOTIE holds Meeting on Russia-Ukraine Crisis Impact on Major Businesses & Exports

Trade Minister Yeo Han-koo presided the “Russia-Ukraine Crisis Impact Assessment on Major Businesses & Exports' meeting on February 22 at the K-Sure headquarters in Seoul in light of the recent geopolitical situation. This meeting was convened for the purpose of assessing repercussions from the current Russia-Ukraine conflict escalation on Korea’s businesses and exports, and to provide exports stimulus through support measures. Minister Yeo discussed future import and export pro date2022-02-23

Minister Moon attends Dialogue with Foreign-Invested Companies

Trade, Industry, and Energy Minister Moon Sung-wook attended the Dialogue with Foreign-Invested Companies presided by President Moon Jae-in at the Blue House on February 17, where representatives of Chambers of Commerce, foreign-invested companies, government officials, and Korea Trade-Investment Promotion Agency (KOTRA) gathered under the theme of “K Dream,” promoting win-win growth of Korea’s economy and foreign-invested companies. The event was convened amidst Korea’s date2022-02-22

Korea and Indonesia sign MOU on “Cooperation of Critical Minerals”

Trade, Industry, and Energy Minister Moon Sung-wook held talks with Indonesia’s Energy and Mineral Resources Minister Arifin Tasrif in Jakarta on February 21, where the two countries signed the Korea-Indonesia MOU on “Cooperation of Critical Minerals.”   During the meeting, the two Ministers shared views on bilateral cooperation across various areas, including core minerals like nickel and rare earth elements, LG Energy Solution Grand Package (mineral lot), electric date2022-02-22

Trade Minister attends 14th Trade Advisory Committee Meeting 

Trade Minister Yeo Han-koo attended the 14th Private Sector Trade Advisory Committee Meeting at the Lotte Hotel Seoul on February 16 to discuss national wealth creating trade implementation plans and government policy directions.   After his opening message, Minister Yeo went on to discuss various issues, including the status quo and future plans for national wealth creating trade, Korea’s application and follow-up measures for the Comprehensive and Progressive Agreement for Trans-P date2022-02-17

Trade Minister holds Korea-New Zealand talks

Trade Minister Yeo Han-koo held an online meeting with New Zealand Trade and Export Growth Minister Damien O’Connor on February 15. The two trade chiefs exchanged views on major trade issues, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Digital Economy Partnership Agreement (DEPA), and the Indo-Pacific economic framework. Minister Yeo extended request for New Zealand’s support as Korea is currently seeking to submit an official appli date2022-02-17

Korea's automobile exports record $4.1 billion in January

The Ministry of Trade, Industry and Energy announced on February 15 that Korea’s automobile output, domestic sales, and exports (units) in January all experienced setbacks and declined 13.7 percent, 19.2 percent, and 6.4 percent, respectively. Exports value climbed by 2.3 percent. Total automobile output in January by Korean automakers dropped 13.7 percent to 271,054 units. Productions slowed due to several factories closing temporarily during national holiday period, and were particularl date2022-02-16

ICT exports achieve $19.7 billion for January

The Ministry of Trade, Industry and Energy announced on February 14 that Korea's exports of information and communications technology (ICT) goods in January expanded 20.7 percent to USD 19.7 billion, recording a historic high export value for January. Imports of ICT products grew 14.4 percent to $12.3 billion, and the trade balance stood at an estimated surplus of $7.3 billion. Month of January saw steady exports growth across small and mid-sized companies (up 24.9 percent to $4.9 billion), d date2022-02-14