Ministry of Trade Industry and Resources

Korea's automobile exports record $4.1 billion in January

The Ministry of Trade, Industry and Energy announced on February 15 that Korea’s automobile output, domestic sales, and exports (units) in January all experienced setbacks and declined 13.7 percent, 19.2 percent, and 6.4 percent, respectively. Exports value climbed by 2.3 percent. Total automobile output in January by Korean automakers dropped 13.7 percent to 271,054 units. Productions slowed due to several factories closing temporarily during national holiday period, and were particularl date2022-02-16

Vice Minister visits Hyundai Motor R&D Center

Trade, Industry and Energy 1st Vice Minister Park Jin-kyu visited the Hyundai Motor Namyang R&D Center in Hwaseong-si, Gyeonggi-do on February 15 for a site tour on the company’s future car development and commercialization. During the visit, Minister Park addressed the employees with an opening message emphasizing the importance of securing technological competitiveness for Korea’s global automobile leadership. Moreover, he assured the Ministry’s continued commitment to p date2022-02-16

Trade Minister visits Switzerland to promote multilateral trade order

Trade Minister Yeo Han-koo visited Geneva, Switzerland through February 9-10 and met with various counterparts to discuss measures for strengthening the multilateral trade order. Minister Yeo met with International Trade Center Executive Director Pamela Coke-Hamilton and discussed prospects for cooperation in training up trade personnel. The meeting was followed by an online trade specialist session together with a local international trade law professor at the Permanent Mission of the Republ date2022-02-15

Minister Moon attends Carbon Neutrality Public-Private Exchange Forum

Trade, Industry, and Energy Minister Moon Sung-wook attended the Energy Industry Carbon Neutrality Public-Private Exchange Forum held at the the Westin Josun Seoul Hotel on February 11 to share energy policy outcomes and future directions. Minister Moon delivered a congratulatory message, which was followed by the event’s keynote speech on the theme of “public-private solidarity and cooperation for technological energy innovation of carbon neutrality.” The forum was organized date2022-02-14

ICT exports achieve $19.7 billion for January

The Ministry of Trade, Industry and Energy announced on February 14 that Korea's exports of information and communications technology (ICT) goods in January expanded 20.7 percent to USD 19.7 billion, recording a historic high export value for January. Imports of ICT products grew 14.4 percent to $12.3 billion, and the trade balance stood at an estimated surplus of $7.3 billion. Month of January saw steady exports growth across small and mid-sized companies (up 24.9 percent to $4.9 billion), d date2022-02-14

Trade Minister holds inaugural Korea-UK FTA Committee Meeting

Trade Minister Yeo Han-koo held the inaugural Korea-UK FTA trade committee meeting with UK’s International Trade Secretary Anne-Marie Trevelyan in London on February 7, a first post-Brexit trade talks between the two countries. This meeting enabled the assessment of the Korea-UK FTA execution status as part of the follow-up measure of the Korea-UK summit talks held in New York in September of last year. Mutual efforts toward their applications to join the Comprehensive and Progressive Agr date2022-02-14

Trade Minister visits Switzerland to promote multilateral trade order

Trade Minister Yeo Han-koo held talks with World Trade Organization Director General Ngozi Okonjo-Iweala on February 10 in Geneva, Switzerland for talks on COVID-19 response, major trade issues, and expanding the Korean presence at the WTO Secretariat. During the two-day stay in Switzerland, the Minister held multiple talks with the chiefs of a number of different international organizations. He met the U.N. Conference on Trade and Development (UNCTAD) Secretary-General Rebeca Grynspan and agre date2022-02-11

Trade Minister holds inaugural Korea-UK FTA Committee Meeting

Trade Minister Yeo Han-koo held the inaugural Korea-UK FTA Committee meeting with UK’s International Trade Secretary Anne-Marie Trevelyan on February 7 in London to discuss the expansion of bilateral trade and collaboration across various areas.   The two trade chiefs touched upon issues ranging from supply chain issues, digital, and climate change response. Also on the table were the Korea-UK new strategic agreement for building supply chain resilience, which is a first for UK wi date2022-02-11

Minister Moon attends "Meta-Fashion" Conference

Trade, Industry, and Energy Minister Moon Sung-wook attended the Digital Transition in Textile and Fashion “Catch Up New World, Meta-Fashion” Conference on February 10 at the Textile Center in Seoul, in view of rapidly rising global “fashion tech” market.   Noting how today’s digital transition and the metaverse are quickly ushering in a new blue ocean in the textile and fashion realm, Minister Moon said the fashion tech market shows great potential for brand date2022-02-11

Energy Vice Minister attends opening ceremony of Korea's 1st Energy Superstation

Energy Vice Minister Park Ki-young attended the opening ceremony of Korea’s first Energy Superstation on February 9, held at SK Bangmi Gas Station in Seoul. The Minister delivered a congratulatory message and partook in the ribbon cutting ceremony, which was followed by a tour around the fuel cell and EV charging facilities.   The Energy Superstation is the nation’s first gas station to have been converted into a charging station for electric and hydrogen vehicles. This conver date2022-02-10