Ministry of Trade Industry and Resources

Trade Minister visits data-driven smart farm complex

Trade Minister Yeo Han-koo visited the Korean-style data-driven smart farm test complex and exports-focused cultivation site located in Wonbuk-myeon, Taean-gun, Chungcheongnam-do on April 13 to check the progress of domestic support projects pushed in response to Free Trade Agreements.   Operated by Wonbuk-myeon Agricultural Cooperative and contractor company Culti Labs, the data-driven smart farm is powered by using the thermal discharge of nearby Taean Thermal Power Station to grow its date2022-04-14

MOTIE announces Jeju-style Distributed Energy Masterplan

The Ministry of Trade, Industry, and Energy announced the Jeju-style Distributed Energy Masterplan at the CFI Energy Future Hall on Jeju Island on April 12. The Ministry aims to propel the masterplan under the Distributed Energy Promotion Strategy, in a way finetuned to the conditions of Jeju Island. The plan entails the establishment of distributed energy-friendly infrastructure, distributed energy-based new power industries development, and measures for improving local sentiments toward the date2022-04-13

2nd Vice Minister attends Jeju-type Distributed Energy Masterplan Presentation

Trade, Industry, and Energy 2nd Vice Minister Park Ki-young attended the Jeju-type Distributed Energy Masterplan Presentation on April 12 at the CFI Energy Future Hall, held to promote the importance of distributed energy and central-local cooperation.   In his opening remarks, the Vice Minister stated that “the Ministry will push the momentum for distributed energy based on close cooperation between central and local experts.” After listening to the Jeju-type Distributed Ener date2022-04-13

Korea and Indonesia hold talks regarding CEPA, IPEF, and other trade issues

Trade, Industry, and Energy Minister Moon Sung-wook held a videoconference with Indonesia’s Trade Minister Muhammad Lutfi on April 11 to discuss the Korea-Indonesia Comprehensive Economic Partnership Agreement (CEPA), Indo-Pacific Economic Framework (IPEF), and other trade issues. This meeting was a follow-up to further the Korea-Indonesia Economic Cooperation Committee talks held in Jakarta on February 22. The two trade chiefs concurred that it would be vital for both countries to conti date2022-04-12

Minister Moon holds Korea-Indonesia trade talks

Trade, Industry, and Energy Minister Moon Sung-wook held a videoconference with Indonesia’s Trade Minister Muhammad Lutfi on April 11 at the Government Complex Sejong to discuss the Korea-Indonesia Comprehensive Economic Partnership Agreement (CEPA), Indo-Pacific Economic Framework (IPEF), and supply chain cooperation. date2022-04-12

Korea and EU hold 10th Goods Trade Committee

The Ministry of Trade, Industry, and Energy (MOTIE) held the 10th Goods Trade Committee (GTC) with the EU delegation via teleconference for promoting Korea-EU trade of goods under the FTA framework. MOTIE's Director General for International Trade Affairs Kim Wan-ki headed the Korean delegation, which comprised officials from various ministries, including the Science and Technology Ministry, Environment Ministry, and the Food and Drug Safety Ministry. In the meeting, Korea and EU assessed the date2022-04-08

Korea-Brunei hold talks on CPTPP and other trade issues

Trade Minister Yeo Han-koo held a teleconference with Brunei’s Finance Deputy Minister Dato Mohd Amin Liew Abdullah on April 7 at the Korea Chamber of Commerce and Industry (KCCI) to discuss the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and other trade issues.   Minister Yeo mentioned the recent public hearing held on March 25, among other procedures, to share an update of the efforts Korea is putting forth for CPTPP accession. The two Ministers date2022-04-08

Vice Minister Park inspects Muju pumped storage power plant

Trade, Industry, and Energy 2nd Vice Minister Park Ki-young visited the Muju pumped storage power plant on April 7 in time for springtime inspections and to hold talks with energy sector public companies on power stabilization measures.   As part of preventive maintenance, Vice Minister Park assessed the domestic pumped storage power generation situation and new projects progress, noting that pumped storage power plant facilities play a key role in peak load response and overcoming limita date2022-04-08

Minister Moon presides Korea Root Industries Conference

Trade, Industry, and Energy Minister Moon Sung-wook presided the Root Industries Conference at the Korea Federation of SMEs (KBIZ) on April 6 to facilitate public-private discussions for strategic development of Korea’s 14 major industries.   “Root industries” refer to industries employing technologies that serve as the foundation of all manufacturing sectors, including casting, welding, molding, and heat processing. Minister Moon delivered opening remarks and presided d date2022-04-08

FDI to Korea jumps 14.9 percent in Q1, achieving $5.5 billion

The Ministry of Trade, Industry, and Energy announced on April 7 that foreign direct investments (FDIs) pledged to Korea in the first quarter of this year jumped 14.9 percent year-on-year to USD 5.5 billion, a historic high. The FDIs that actually arrived in Korea over the same period inched down by 2.6 percent to $4.3 billion, still the second highest amount in history. In spite of unstable global investment conditions like the Russia-Ukraine crisis, surging oil prices and raw materials prices date2022-04-08