Ministry of Trade Industry and Resources

Korea Holds the 1st Round of Negotiations for a Trilateral FTA

The Ministry of Trade, Industry and Energy hosted the first three-day round of negotiations for a free trade agreement among China, Japan and Korea on March 26. Deputy Minister for Trade Choi Kyonglim led the Korean delegation, which consisted of officials from the relevant authorities including Ministry of Strategy and Finance and the Ministry of Agriculture, Food and Rural Affairs. The Japanese and Chinese delegations were led by Deputy Minister for Foreign Affairs Koji Tsuruoka and Assistant Minister of Commerce Yu Jianhua, respectively. The three chief negotiators adopted the Terms of Reference for the negotiations, including basic principles and guidelines. They also discussed general issues such as the scope of the negotiations and the formation of working groups. Specifically, the scope of the negotiations will be based on the results of joint studies by government, industry and academia and, though other issues can be added if necessary by consensus among the three parties. While trilateral negotiations on goods, services and investments will proceed simultaneously, two-way talks will be allowed on goods. The three countries will continue to work on the specific issues of the negotiations in two more rounds of talks later this year. The second round is scheduled to be held in China in June or July. * Released by the East Asia FTA Bureau date2013-04-03

Korea Hosts the 1st Round of Negotiations for Trilateral FTA

Deputy Minister for Trade Choi Kyonglim (center) shakes hands with his Japanese counterpart, Deputy Minister for Foreign Affairs Koji Tsuruoka (right); and his Chinese counterpart, Assistant Minister of Commerce Yu Jianhua (left), on March 26 in Seoul. The chief negotiators held the first three-day round of negotiations for an FTA between China, Japan and Korea. date2013-04-02

Korea, Peru Discuss Bilateral Ties

Korea, Peru Discuss Bilateral Ties Vice Minister for Energy and Trade Cho Seok met with his Peruvian counterpart, Deputy Minister for SME and Industry Magali Silva Velarde-Álvarez on February 7 at the Gwacheon Government Complex. The two officials agreed to enhance ties in the energy and resources sector and expand the scope of cooperation to areas such as plant construction, automobiles, shipbuilding, IT and textiles. date2013-02-12

Korea, India Discuss Trade Ties

Korea, India Discuss Trade Ties Minister of Knowledge Economy Sukwoo HONG met with his Indian counterpart, Minister of Commerce and Industry Anand Sharma, on January 28 in India. The discussion focused on current trade issues between the two countries. date2013-02-07

Korea, Vietnam Forge Closer Ties in Materials and Components Industries

date2013-02-05

Korea, Philippines to Seek Economic and Trade Cooperation

date2013-01-24

Korea, U.S. Open New Chapter in Investment Ties

Korea, U.S. Open New Chapter in Investment Ties Minister of Knowledge Economy Sukwoo HONG hosted the first Korea-US Investment and Trade Forum on December 7 in Washington, D.C. The event, jointly organized by the public and private sectors, aimed to boost bilateral ties between the two countries. At the forum, Minister Hong said, “the two countries should now work on expanding this successful partnership to include greater investment,” emphasizing the important role the Korea-U.S. F date2012-12-18

Korea, Vietnam Mark 20th Anniversary of Diplomatic Relations

Korea, Vietnam Mark 20th Anniversary of Diplomatic Relations Vice Minister for Trade and Energy Cho Seok attends the Vietnam-Korea Forum on Investment in Industrial Parks and Economic Zones on December 7 in Seoul. With around 250 government officials and business representatives from key areas in attendance, the Vice Minister celebrated the 20th anniversary of the establishment of diplomatic ties between Korea and Vietnam. date2012-12-17

Korea, Saudi Arabia Forge Deeper Ties

Minister of Knowledge Economy Suk-woo HONG meets with Saudi Arabian Minister of Economy and Planning Muhammad Al-Jasser and SAGIA Governor Abdul Latif Al-Othman on December 3 at the Gwacheon Government Complex. The officials agreed to expand their scope of cooperation, which previously focused on resources and plants, to high-tech industries including information technology, bio technology and medicine. date2012-12-13

Korea Committed to Broadening Partnerships with China`s Local Governments

Minister of Knowledge Economy Sukwoo HONG travelled to the Chinese provinces of Guangdong and Shaanxi last week to strengthen economic ties with the Chinese local governments. During the visit to Guandong, Minister Hong met with the Secretary of the Guangdong Provincial Committee, Wang Yang, and reaffirmed the importance of stronger partnerships in overcoming global economic uncertainties. In order to develop a platform for sustainable growth, the two officials pledged to further advance the dialogue and agreed to widen the scope of cooperation, including in the high-tech industrial sectors. Meanwhile, the third Korea-Guangdong Economic and Trade Development Forum produced seven memorandums of understanding to enhance bilateral ties in areas such as energy conservation, the environmental industry and investment promotion. On the sidelines of the event, MKE also arranged a business forum for the first time in Guangdong to showcase Korea’s cutting-edge technologies and promising business opportunities in Korea. After the two-day visit to Guangdong, Minister Hong made his first trip to Shaanxi and met with the Governor, Zhao Zhengyong. A groundbreaking MOU signed by the two officials will establish a ministerial-level cooperation channel and develop joint partnerships in new growth industries. Under the terms of the MOU, both sides will take on various projects in the infrastructure and industrial development sectors. The deal also includes plans for working-level discussions on joint endeavors and potential cooperation opportunities in both Shaanxi and Korea. With high-profile business leaders from both sides in attendance, the Korea-Shaanxi Economic Forum was set up to serve as an important opportunity to share information on development plans and collaboration ideas. * Released by the Northeast Asia Division date2012-12-05