Ministry of Trade Industry and Resources

Korea and Saudi Arabia hold trade show on occasion of President Yoon's state visit

The Ministry of Trade, Industry and Energy (MOTIE) hosted the Korea-Saudi Trade Show (organized by the Korea Trade-Investment Promotion Agency (KOTRA)) on October 22 at the Riyadh Fairmont Hotel in Saudi Arabia on the occasion of President Yoon Suk Yeol’s state visit, where approximately 30 middle-market firms and SMEs, along with 78 Saudi buyers and client companies, held a total of 190 plus one-on-one business meetings in major bilateral cooperation areas like plant, construction, eco-fr date2023-10-23

MOTIE holds 15th Smart Start Bio Investor Briefing

The Ministry of Trade, Industry and Energy (MOTIE) held the 15th Smart Start Bio Investor Briefing on October 19 in Seoul together with the Korea Biotechnology Industry Organization and New Industry Organization for Investment to support the stable growth of top bio companies and help resolve their financial challenges. Bio is an area that requires continued investment since much time and cost go into the entire process from development to licensing and production. Korea Exchange (KRX) personne date2023-10-19

Korea and India hold Industry Vice Ministers' Meeting

Trade, Industry and Energy Vice Minister Youngjin Jang met Shri Rajesh Kumar Singh, Secretary of the Department for Promotion of Industry and Internal Trade at India’s Ministry of Commerce and Industry, on October 17 at the Lotte Hotel Seoul and discussed measures to expand bilateral cooperation in new industries, supply chain and carbon neutrality. date2023-10-18

Korea and India to bolster cooperation in new industries

Trade, Industry and Energy Vice Minister Youngjin Jang met Shri Rajesh Kumar Singh, Secretary of the Department for Promotion of Industry and Internal Trade at India’s Ministry of Commerce and Industry, on October 17 at the Lotte Hotel Seoul on the occasion of Secretary Singh’s visit to Korea to attend the Trade Promotion and Investment Roadshow, and discussed measures to expand bilateral industrial cooperation. Vice Minister Jang extended his congratulations on India’s succes date2023-10-18

Korea holds KFEZ 20th Anniversary International Forum

Trade, Industry and Energy Vice Minister Youngjin Jang attended the Korea Free Economic Zone (KFEZ) 20th Anniversary International Forum on October 17 at the Sheraton Grand Incheon Hotel, held to create a momentum for the KFEZ to be newly launched as the global high-tech business base.   In his congratulatory message, Vice Minister Jang stated that “the FEZs attracted USD 22.1 billion worth of foreign direct investment (FDI), approximately 7,100 companies from within Korea and overs date2023-10-17

Free economic zones, Korea's new base for global business

The Ministry of Trade, Industry and Energy (MOTIE) and the Incheon Free Economic Zone Authority (IFEZA) are co-hosting an international forum in commemoration of the 20th anniversary of the launching of Korea's free economic zones (KFEZs), from October 17-18 at the Sheraton Grand Incheon Hotel. Approximately 300 persons are attending the forum, including MOTIE’s Vice Minister Youngjin Jang, Incheon Mayor Yoo Jeong-bok, free economic zone authorities’ directors, relevant personnel of date2023-10-17

Korea's ICT exports decline 13.4% in September

The Ministry of Trade, Industry and Energy (MOTIE) announced on October 16 that Korea's exports and imports of information and communications technology (ICT) goods for September recorded USD 18.1 billion (down 13.4 percent year-on-year) and $10.8 billion (down 16.8 percent), respectively. The trade balance stood at a surplus of $7.3 billion. The ICT export decline rate recorded the lowest year-on-year as semiconductors hit all-time highs in export value for this year. Exports of semiconductor date2023-10-16

Korea holds Seoul International Forum on Trade Remedies 2023

The Ministry of Trade, Industry and Energy (MOTIE) held the Seoul International Forum on Trade Remedies 2023 on October 13 under the theme of “Challenges and Tasks of Trade Remedies in the Digital Era” at COEX in Seoul, where representatives of major global trade remedy organizations gathered to discuss response measures amid the changing trade landscape and share various cases and experiences of different countries. Approximately 110 representatives, experts and corporate date2023-10-13

Trade Minister discusses cooperation with Chile's Economy Minister

Minister for Trade Dukgeun Ahn held talks with Chile’s Economy, Development and Tourism Minister Nicolas Grau on October 12 in Seoul regarding measures for bilateral cooperation in trade, critical minerals supply chain and green energy, and asked for Chile’s support for Korea’s bid to host World Expo 2030 in Busan. date2023-10-13

Korea and Ecuador hold business forum

Deputy Minister for Trade Yang Byeong-nae attended the Korea-Ecuador Business Forum held on October 11 at the Lotte Hotel Seoul and gave a congratulatory message.   The forum was attended by approximately 100 persons, including both countries’ economic delegation members and companies, as well as Ecuador’s Foreign Affairs Minister Gustavo Miranda. date2023-10-12