Ministry of Trade Industry and Resources

Trade Minister holds 5th Korea-Australia FTA Joint Committee Meeting

Trade Minister Yeo Han-koo held the 5th Korea-Australia FTA Joint Committee Meeting with Australia’s Minister for Trade, Tourism and Investment Dan Tehan on April 5 via teleconference. The meeting was held at ministerial level in consideration of the two countries’ stronger bilateral ties ensuing the elevation from the former expanding partnership to the current comprehensive and strategic partnership. Minister Tehan anticipated that the U.S. will be officially launching the Indo- date2022-04-07

Trade Minister holds 5th Korea-Australia FTA Joint Committee Meeting

Trade Minister Yeo Han-koo held the 5th Korea-Australia FTA Joint Committee Meeting via teleconference on April 5 with Australia’s Minister for Trade, Tourism and Investment Dan Tehan to discuss the Indo-Pacific Economic Framework, Korea-Australia FTA implementation progress, and major trade issues.    The two trade chiefs covered key trade agenda items, including the Indo-Pacific Economic Framework, Korea-Australia FTA implementation progress, digital cooperation and regulatio date2022-04-07

Korea's first homemade gas turbine to power Gimpo CCPP

Trade, Industry, and Energy Minister Moon Sung-wook visited the Gimpo Combined Cycle Power Plant (CCPP) project site operated by Korea Western Power (KOWEPO) on April 5 to attend the installation commencement ceremony of Korea’s first homemade gas turbine. The Ministry of Trade, Industry, and Energy (MOTIE) first propeled the public-private development of power plant gas turbines in 2013 as part of its MPE (materials, parts, and equipment) initiative. Six years later in 2019, Korea became date2022-04-06

Minister Moon attends Korea’s Homemade Gas Turbine Installation Ceremony

Trade, Industry, and Energy Minister Moon Sung-wook attended Korea’s Homemade Gas Turbine Installation Commencement Ceremony on April 5, held at the Gimpo Combined Cycle Power Plant (CCPP) project site in Gimpo-si, Gyeonggi-do, where the turbine will be used to generate electricity.   Minister Moon participated in the ribbon-cutting ceremony after extending congratulatory remarks, and toured around the power station site, encouraging the workers.   The event was attended date2022-04-06

Minister Moon attends 3rd Korea Shipbuilding and Marine Industry CEO Forum

Trade, Industry, and Energy Minister Moon Sung-wook attended the 3rd Korea Shipbuilding and Marine Industry CEO Forum on April 1 at the Millennium Hilton Seoul for the assessment of production manpower and discussing measures for securing human resources in the future.   In his congratulatory remarks, Minister Moon noted that Korea’s shipbuilding industry must change “from a labor-intensive and large-scale industry of the past, to a high value-added industry in line with the g date2022-04-05

Korea and U.S. discuss IPEF and Section 232 steel tariffs

Trade Minister Yeo Han-koo held a teleconference with the United States Trade Representative (USTR) Katherine Tai on March 31 to discuss the Indo-Pacific Economic Framework (IPEF) and Section 232 steel tariffs. This is the sixth round of talks held between the two trade chiefs since U.S. President Biden first announced the IPEF last October. With regard to IPEF, Minister Yeo mentioned that multiple discussions are underway across relevant ministries and public-private task forces. He also stat date2022-04-05

Incheon City's hydrogen-powered transportation and investment MOU ceremony

Trade, Industry, and Energy 2nd Vice Minister Park Ki-young attended a ceremony celebrating the near future of “Incheon city for foreign-invested companies and hydrogen-powered public transportation” held at the Incheon Metropolitan City government office on March 30.   At the ceremony, Vice Minister Park delivered a congratulatory message, and proceeded with the MOU signing ceremony for “Hydrogen-Powered Public Transportation City” among the Ministry of Trade date2022-04-01

March exports grow 18.2%, reaching $63.5 billion

The Ministry of Trade, Industry, and Energy announced on April 1 that Korea’s exports in March increased 18.2 percent to USD 63.5 billion, the highest in 66 years since 1956, the year trade data was first recorded. This is positive growth for the 17th consecutive month, and double-digit growth for the 13th consecutive month. Average daily exports reached a record-breaking $2.8 billion. In respect of imports, high energy prices and larger purchases of intermediate goods drove up imports b date2022-04-01

8th Size Korea Conference presents 40 years of Korean bodily changes

Korean Agency for Technology and Standards (KATS) under the Trade, Industry, and Energy Ministry held the 8th Size Korea Conference on March 30 at COEX in Seoul, where research outcomes announced that Korean males and females had grown 6.4cm and 5.3cm, respectively, in average height over the past 40 years since the first survey released in 1979. According to the research, Korean people’s body shapes increasingly developed an overall “long-legged” physique. For males, average date2022-03-31

4th round of Korea-GCC FTA negotiations

The 4th round of Korea-GCC FTA negotiations are being held (March 28-31) in Seoul. Korea’s government delegation is led by Ministry of Trade, Industry, and Energy (MOTIE)’s Director General for FTA Negotiations Lee Kyung-sik, and consists of relevant ministries’ officials across the Ministry of Economy and Finance, Ministry of Agriculture, Food and Rural Affairs, Korean Intellectual Property Office, Ministry of Oceans and Fisheries, and Korea Forest Service. The Gulf Cooperati date2022-03-31