Seoul, June 2 (IANS) South Korea and Canada have discussed a deeper partnership in advanced industries, including space and defence, Seoul’s industry ministry said on Tuesday, as the country is making last-minute efforts to win Canada’s submarine project. The Ministry of Trade, Industry and Resources and the Korea Trade-Investment Promotion Agency (KOTRA) jointly hosted a business roundtable in Toronto on Monday (local time) to promote cooperation between Korean and Canadian companies.The event …
Latest Ministry of Trade News & Updates
Seoul, May 14 (IANS) More than 96 per cent of gas stations nationwide have kept gasoline prices unchanged under the country’s fuel price cap system, the industry ministry said on Thursday, noting South Korea is managing fuel prices within a relatively stable range compared with other major economies.As of Wednesday, 96.1 percent of the country’s 10,646 gas stations had maintained gasoline prices at the previous day’s level, the Ministry of Trade, Industry and Energy said during a regular briefin…
Seoul, May 10 (IANS) South Korean Industry Minister Kim Jung-kwan met US Commerce Secretary Howard Lutnick and other senior American officials to discuss strategic investment projects and ways to enhance bilateral cooperation in energy, shipbuilding and other key sectors, the industry ministry said on Sunday.During a four-day visit to Washington, Kim met with Lutnick and explained South Korea’s progress in drafting follow-up regulations and establishing an implementation framework following the …
Seoul, May 8 (IANS) South Korean stocks started lower on Friday on profit hunting following a recent rally and renewed military tensions in the Middle East after the United States and Iran exchanged fire.Opening 1.82 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) lost 163.99 points, or 2.19 per cent, to 7,326.06 as of 9:15 a.m, reports Yonhap news agency.The index had been on a bullish run to hit record highs for three consecutive sessions starting Monday, gaining nearly …
Seoul, May 7 (IANS) South Korea has called on the international community to jointly respond to the recent spread of trade restrictive measures by major economies in a high-level meeting of World Trade Organization (WTO) member nations, the trade ministry said on Thursday.Kwon Hye-jin, director general for trade negotiations at the Ministry of Trade, Industry and Resources, attended the WTO’s General Council meeting held for two days beginning Wednesday (local time) in Geneva, as the chief repre…
Seoul, May 1 (IANS) South Korea’s exports exceeded $80 billion for the second consecutive month in April, jumping nearly 50 per cent from a year earlier on the back of robust shipments of semiconductors, government data showed on Friday.Outbound shipments totalled $85.89 billion last month, up 48 percent on-year, according to the data compiled by the Ministry of Trade, Industry and Resources, reports Yonhap news agency.The April tally marks the second-highest monthly export figure for the countr…
Seoul, April 29 (IANS) Trade ministers of South Korea and Qatar agreed on Wednesday to expand the two countries’ cooperation in advanced industries, including artificial intelligence (AI) transformation of the manufacturing sector, semiconductor and biohealth, a Seoul ministry said.Trade Minister Yeo Han-koo met with his Qatar counterpart, Ahmed bin Mohammed Al-Sayed, in Seoul to discuss ways to expand economic and investment cooperation between the two nations, according to the Ministry of Trad…
Seoul, April 28 (IANS) The industry ministry here said on Tuesday it will provide a combined 300 billion won ($203.6 million) in support for projects aimed at facilitating the artificial intelligence (AI) and green transformation of industrial complexes.The support will be offered over the next three to four years for nine projects aimed at creating the so-called smart and green industrial complexes, according to the Ministry of Trade, Industry and Resources. The ministry will first invest a com…
Seoul, April 23 (IANS) The government here said on Thursday it will maintain the current price ceilings on fuel products for another two weeks considering international oil prices and demand-side controls.Maximum prices for regular gasoline, diesel and kerosene supplied to gas stations by local oil refineries will remain unchanged at 1,934 won (US$1.3), 1,923 won and 1,530 won per litre, respectively, for the next two weeks, according to the Ministry of Trade, Industry and Resources.It marks the…
Seoul, April 16 (IANS) The Seoul government has submitted a formal opinion letter on the United States’ ongoing probes into South Korea and other nations involving what it calls “unfair” trade practices related to structural excess production and forced labour, officials said on Thursday.The letter was submitted by the Ministry of Trade, Industry and Resources to the office of the US Trade Representative (USTR) ahead of public hearings on the ongoing trade investigation scheduled to begin next m…