Ministry of Trade Industry and Resources

Public and private sectors join hands for global standards leadership in hydrogen and fuel cells

Korean Agency for Technology and Standards (KATS) President Jin Jong-wook under the Ministry of Trade, Industry and Energy (MOTIE) held a business conference on March 19 at a hydrogen fuel tank manufacturing site to strengthen international standards in hydrogen and fuel cells in line with reaching the national policy targets for sustainable carbon neutrality.   KATS representatives attending the conference shared the current progress and policy directions in hydrogen and fuel cell standards development and gathered opinions and suggestions from firms participating in related projects.   Companies suggested that, in view of the technology and market of hydrogen and fuel cells still being in their early stages of development, firms be given support through standards development of Korean technologies in future key areas like hydrogen mobility, liquid hydrogen storage and transport, which can serve as a springboard for export to global markets.   KATS President Jin remarked that “based on today’s discussions, KATS will newly install and operate the ‘International Standards Forum on Hydrogen Technology’ for supporting companies’ participation and Korea’s leadership in international standards development.” date2024-03-19

Korea and UK to hold 2nd official negotiating round on upgrading bilateral FTA

Director General for FTA Negotiations Chang Sung-gil at the Ministry of Trade, Industry and Energy (MOTIE) is heading the Korean delegation in the second official round of negotiations for upgrading the Korea-UK Free Trade Agreement (FTA) to be held through March 19-22 in London. The UK delegation will be led by Adam Fenn, Chief Negotiator at the UK's Department for Business and Trade.   With the Korea-UK FTA signed in 2019 and having come into force in 2021 on the heels of Brexit, the two countries declared the launch of negotiations for the upgrade of the bilateral FTA upon the occasion of President Yoon Suk Yeol’s state visit to the UK last November, and the first negotiating round was held this January in Seoul.   In this second negotiating round, the Korean government aims to strengthen comprehensive and cooperative trade relations and discuss the introduction of new trade rules through negotiations on service, digital, SMEs and Good Regulatory Practices (GRP).   Korea anticipates that the upgrade of the bilateral FTA will contribute to expanding exports and investment through reinforcing advanced trade solidarity with the UK, one of Korea’s core friendly nations, while also stabilizing the supply chain and enhancing cooperation in areas like gender and clean energy. date2024-03-19

Trade Minister meets McLarty Associates' Senior Managing Director

Minister for Trade Inkyo Cheong met with Robert O. Blake, Jr., McLarty Associates' Senior Managing Director leading the Southeast Asia and Climate practices, on March 15 in Washington D.C. to exchange views on future U.S. trade policies, outlook and Korea-U.S. trade issues. date2024-03-19

Trade Minister attends 7th Korea-U.S. FTA Joint Committee meeting

Minister for Trade Inkyo Cheong met with U.S. Trade Representative Katherine Tai on March 15 in Washington D.C. for the 7th Korea-U.S. FTA Joint Committee meeting, where they discussed FTA implementation outcomes, future plans and held a signing ceremony on modifications to certain textile and apparel rules of origin. date2024-03-19

Trade Minister holds talks with Governor of Alabama

Minister for Trade Inkyo Cheong held talks with Governor of Alabama Kay Ellen Ivey on March 14 in Washington D.C. via telephone to discuss CHIPS Act subsidies, Inflation Reduction Act (IRA), visa issues and measures for resolving Korean firms’ U.S. investment challenges. date2024-03-18

Trade Minister chairs meeting with Korean companies operating in the U.S.

Minister for Trade Inkyo Cheong chaired a conference with representatives of Korean companies operating in the local U.S. market on March 14 in Washington D.C. to gather corporate opinions on business issues.   The conference was attended by representatives of Korean firms and related institutions, including Samsung Electronics, LG Group, Hyundai Motor and Korea Institute for Advancement of Technology (KIAT). date2024-03-18

Trade Minister meets Heritage Foundation's Senior Research Fellow

Minister for Trade Inkyo Cheong met with Bruce Klingner, Senior Research Fellow for Northeast Asia in the Asian Studies Center at the Heritage Foundation, on March 14 in Washington D.C. to discuss the U.S.’ trade policies, future outlook and Korea-U.S. trade issues. date2024-03-18

Trade Minister meets U.S. Representative

Minister for Trade Inkyo Cheong met with U.S. Representative Mike Kelly on March 14 in Washington D.C. to discuss CHIPS Act subsidies, Inflation Reduction Act (IRA), visa issues and measures to resolve Korean companies’ U.S. investment challenges. date2024-03-18

Trade Minister meets Senior U.S. Senator

Minister for Trade Inkyo Cheong met with Senior U.S. Senator Jon Ossoff on March 14 in Washington D.C. to discuss CHIPS Act subsidies, Inflation Reduction Act (IRA), visa issues and measures to resolve Korean companies’ investment challenges. date2024-03-18

Trade Minister meets U.S. Deputy National Security Adviser

Minister for Trade Inkyo Cheong met with Daleep Singh, Deputy National Security Adviser, on March 14 in Washington D.C. to discuss CHIPS Act subsidies, Inflation Reduction Act (IRA), visa issues and measures to resolve Korean companies’ investment challenges. date2024-03-18