Ministry of Trade Industry and Resources

Minister discusses investment with Toray Industries CEO

Trade, Industry and Energy Minister Lee Chang-yang met with Akihiro Nikkaku, the CEO of Toray Industries, Inc. on February 22 at the Lotte Hotel Seoul to discuss production and investment expansion measures for high-performance carbon fibers in Korea. date2023-02-22

Korea's auto output, domestic sales & exports all increase in January

The Ministry of Trade, Industry and Energy announced on February 20 that Korea’s automobile industry in January increased in all of production, domestic sales and exports year-on-year. In spite of lower number of operating days from the Seollal holidays, Korea’s auto output in January rose 13.2 percent to approximately 0.3 million units, thanks to improved conditions for supply of semiconductors. Hyundai Motor and Kia each saw production rise 18.8 percent and 5.3 percent, respect date2023-02-21

Trade Minister holds talks with Prime Minister of Croatia

Minister for Trade Dukgeun Ahn met with Croatia’s Prime Minister Andrej Plenković on February 16 at the Prime Minister’s Office of the Government of the Republic of Croatia to discuss bilateral economic and trade cooperation and requested support for Korea’s bid to host World Expo 2030 Busan. date2023-02-20

MOTIE launches public-private committee for Korea-Middle East economic cooperation

Trade, Industry and Energy Minister Lee held a meeting on February 16, launching the Public-Private Joint Committee for Korea-Middle East Economic Cooperation at the Lotte Hotel Seoul and discussed plans for economic cooperation “shuttle group” and subcommittee project support.   The committee meeting for the launching ceremony was attended by representatives of companies and institutions concerning the Korea-Middle East economic summit diplomacy outcomes, including Korea Trad date2023-02-17

Korea's economic delegation promotes World Expo 2030 Busan in Austria & Croatia

Minister for Trade Dukgeun Ahn is leading Korea’s public-private joint economic delegation to Austria and Croatia through February 15-17 for bilateral talks on expanding cooperation in economy and trade, and to draw support for Korea’s bid to host World Expo 2030 in Busan. As Europe is home to the largest number of Bureau International des Expositions (BIE) member states, the economic delegation will visit a total of 13 countries across the continent to promote World Expo 2030 Busan date2023-02-17

MOTIE launches public-private committee for Korea-Middle East economic cooperation

Trade, Industry and Energy Minister Lee held a meeting on February 16 with relevant ministries, institutions and private sector companies launching the Public-Private Joint Committee for Korea-Middle East Economic Cooperation (hereinafter “Committee”) at the Lotte Hotel Seoul. In his opening message, Minister Lee stated that amid recent difficult external and internal economic conditions, Korea successfully secured 58 B2B memorandums of understanding (MOUs) and agreements with Saudi date2023-02-16

Korea and Austria discuss trade, investment and economic cooperation

Minister for Trade Dukgeun Ahn met with Martin Kocher, Austria’s Federal Minister for Labor and Economy, and Karl Nehammer, Chancellor of Austria, on February 15 in Vienna, respectively, to discuss expansion and strengthening of cooperation in trade, investment, industrial technology and economy, and requested support for Korea’s bid to host World Expo 2030 Busan. date2023-02-16

Korea's ICT trade records surplus of $0.9 billion in January

The Ministry of Trade, Industry and Energy announced on February 14 that Korea's exports and imports of information and communications technology (ICT) goods in January recorded USD 13.1 billion (down 33.2 percent year-on-year) and $12.2 billion (down 1.1 percent), respectively, and the trade balance stood at a surplus of $0.9 billion. The decline in exports is attributable to the global economic downturn and continued slump across the semiconductor industry. By item, shipments of major export date2023-02-14

MOTIE holds 1st Trade Industry Forum to discuss major tasks for exports growth

Trade, Industry and Energy Minister Lee Chang-yang presided the first Trade Industry Forum for 2023 on January 13 at the Korea International Trade Association (KITA) in Seoul together with KITA Chairman Koo Ja-yeol to forecast this year’s economic and trade environment and discuss the 10 key tasks for reaching positive growth in exports and investment in 2023. Government officials, relevant institutions' personnel and academia experts attended the forum. Minister Lee assessed that “ date2023-02-14

MOTIE holds 1st Trade Industry Forum

Trade, Industry and Energy Minister Lee Chang-yang presided the 1st Trade Industry Forum on February 13 held at Korea International Trade Association (KITA) in Seoul together with KITA Chairman Koo Ja-yeol to share forecasts on this year’s global economy and trade environment and to discuss major tasks for achieving positive exports growth in 2023.   Minister Lee gave an opening message and led discussions on Korea’s 10 major trade tasks and global economic prospects for 2023. date2023-02-13