Ministry of Trade Industry and Resources

Korea and China to launch joint research project for improving bilateral FTA implementation

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 24 that research institutes of Korea and China are to launch a joint research project for improving the implementation of the Korea-China Free Trade Agreement (FTA). During the fifth Korea-China FTA Joint Committee meeting held on December 4 in 2023 in Beijing, the two countries’ chief delegates agreed to launch a joint research program for improving the implementation of the bilateral FTA in 2025, the year marking th date2024-01-24

Korea and UK hold first official negotiating round for upgrading bilateral FTA

Trade Minister Inkyo Cheong attended the first official negotiating round for the upgrade of the Korea-UK Free Trade Agreement (FTA) on January 23 at Lotte Hotel Seoul. The trade minister stated that “the global trade order is changing more rapidly than ever, with the worldwide rise of protectionism and swift realignment of the global supply chain,” and asked both delegations to “jointly respond to internal and external uncertainties, while making sure to place the utmost prio date2024-01-23

Korea and UK hold first official negotiating round for upgrading bilateral FTA

Director General for FTA Policy Ahn Chang-yong at the Ministry of Trade, Industry and Energy (MOTIE) is heading the Korean delegation in the first round of official negotiations on upgrading the Korea-UK Free Trade Agreement (FTA) to be held through January 23-25 in Seoul. The UK delegation is led by Adam Fenn, Chief Negotiator at the UK's Department for Business and Trade. The existing Korea-UK FTA is the first FTA sealed with Asia by the UK in proceeding with Brexit and is assessed to have dr date2024-01-23

Anti-dumping duties on stainless steel bars terminate after 2 decades of imposition

The Korea Trade Commission under the Ministry of Trade, Industry and Energy (MOTIE) announced on January 21 that the imposition of anti-dumping duties on Japanese, Indian and Spanish stainless steel bars initiated since July 30, 2004, is to end on January 22, 2024, as SeAH Changwon Integrated Special Steel and other domestic producers have not requested for review. Moreover, as domestic producers have likewise not asked for a review on Taiwanese and Italian stainless steel bars, on which anti-d date2024-01-22

Minister Ahn chairs Industry and Energy R&D Innovation Roundtable

Trade, Industry and Energy Minister Dukgeun Ahn chaired the Industry and Energy R&D Innovation Roundtable on January 18 at Samsung Seoul R&D Campus to discuss ways to raise the Government's R&D investment efficiency and to gain powerful outcomes, where he announced measures for strategic investment and innovation in industry and energy R&D. Minister Dukgeun Ahn stated that “MOTIE plans to concentrate the Government’s industry and energy R&D capacity on devel date2024-01-19

MOTIE to push 4 major measures for industrial and energy R&D innovation

Trade, Industry and Energy Minister Dukgeun Ahn chaired the R&D Innovation Roundtable on January 18 at the Samsung Seoul R&D Campus and announced measures for innovation and strategic investment in industrial and energy R&D. After 20 separate meetings with approximately 500 researchers, the Ministry of Trade, Industry and Energy (MOTIE) has laid down four major measures for innovation. First, MOTIE will provide concentrated assistance for world-leading R&D projects that aim for date2024-01-19

Korea and Indonesia hold high-level dialogue on economic cooperation

Trade, Industry and Energy Deputy Trade Minister Yang Byeong-nae met Septian Hario Seto, the Deputy Minister for Indonesia’s Coordinating Ministry for Maritime and Investment Affairs, on January 17 at Signiel Seoul to discuss measures to strengthen economic cooperation between Korea and Indonesia. date2024-01-19

Deputy Trade Minister and U.S.' Solid Power COO discuss next-gen battery cooperation

Deputy Minister for Trade Yang Byeong-nae met with Derek Johnson, the Chief Operating Officer (COO) of Solid Power, on January 18 at the Ministry of Trade, Industry and Energy (MOTIE) to discuss measures for cooperation in next-generation battery areas. Solid Power is a U.S.-based firm known for its leading all-solid-state battery technology that has recently entered memorandums of understanding (MOUs) with a number of Korea’s private companies and public institutions like SK On date2024-01-18

Middle-market enterprises respond with positive economic forecast for Q1 2024

The Ministry of Trade, Industry and Energy (MOTIE) announced on January 18 the results of the economic forecast survey on Korea's middle-market enterprises for the first quarter (Q1) of 2024. MOTIE conducts the survey on a quarterly basis on approximately 800 middle-market companies. The survey revealed that six major indices, namely overall economy (up 3.2 percentage points to 92.7), exports (up 3.5 percentage points to 97.6), domestic demand (up 0.2 percentage points to 90.5), operating profi date2024-01-18

Korea and France seek measures for cooperation in advanced technology areas

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Economics and Finance of France held the 8th Korea-France New Industries Technology Cooperation Forum (“Forum”) on January 17 in Paris and agreed to expand the scope of bilateral cooperation in advanced technology areas. The Forum is in its eighth year since launched in 2014 with aim to share the two countries’ joint R&D outcomes, uncover industry-academia joint projects and sound out potential global pa date2024-01-17