Ministry of Trade Industry and Resources

Number of Middle Market Enterprises in Korea Rises 10.3% Year-on-Year to 6,474

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced on Wednesday, December 31, 2025, the release of the 2024 Basic Statistics on Middle Market Enterprises. The statistics are nationally approved data compiled and released annually since 2015 with approval from Statistics Korea. As of 2024, the number of middle market enterprises in Korea stood at 6,474, an increase of 606 companies (up 10.3 percent) from 2023. During the year, 669 companies exited the middle market category after growing into large enterprises, reverting to SME status, or ceasing operations, while 1,275 companies entered the category after graduating from SME status or being newly established. Middle market enterprises employed a total of 1.76 million workers in 2024, an increase of 53,000 (up 3.1 percent) from the previous year. Employment in the manufacturing sector rose to 687,000 (up 9,000, or 1.3 percent) year-on-year, while employment in the non-manufacturing sector increased by 45,000 (up 4.4 percent) to a total of 1.07 million. Total sales of middle market enterprises in 2024 amounted to KRW 1,030.5 trillion, an increase of KRW 46.2 trillion (up 4.7 percent) from the previous year. Sales increased in both the manufacturing (up 2.5 percent) and non-manufacturing (up 6.9 percent) sectors. Within manufacturing, strong gains were recorded in sectors such as electrical equipment (up 9.9 percent), bio-health (up 7.9 percent), and food and beverages (up 6.2 percent). In the non-manufacturing sector, transportation (up 17.6 percent) and information and communications (up 15.2 percent) also posted robust growth.  Total assets held by middle market enterprises reached KRW 1,322.6 trillion in 2024, an increase of KRW 95.3 trillion (up 7.8 percent) from the previous year. Operating profit totaled KRW 50.3 trillion (up KRW 2.8 trillion, or 5.9 percent) year-on-year. Total investment by middle market enterprises in 2024 amounted to KRW 36.4 trillion, an increase of KRW 5.3 trillion (up 17.1 percent) from the previous year. Of the total, R&D investment reached KRW 13.0 trillion (up 35.2 percent), while facility investment stood at KRW 23.4 trillion (up 8.9 percent). The most common new business areas for middle market enterprises in 2024 were environmentally friendly industries (25.7 percent), advanced bio industries (23.9 percent), and renewable energy (13.9 percent). In addition, 39.3 percent of middle market enterprises had adopted ESG management practices, representing an increase of 5.2 percentage points from the previous year. MOTIR assessed that since the end of the COVID-19 period in 2022, Korea’s middle market enterprises have demonstrated steady growth across all major indicators—including the number of companies, employment, sales, assets, and investment—and noted in particular that the 35.2 percent year-on-year increase in R&D investment underscores the sector’s ongoing efforts to strengthen technological innovation date2025-12-31

Strategic Meeting of the M.AX Alliance for Autonomous Ships

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the Strategic Meeting of the M.AX Alliance for Autonomous Ships held at Lotte Hotel Seoul on Monday, December 29, 2025, together with Kim Sung-bum, Acting Minister of the Ministry of Oceans and Fisheries (MOF). The meeting was attended by Lee Sang-kyun, Chairman of the Korea Offshore & Shipbuilding Association (KOSHIPA); Kim Hee-cheul, CEO of Hanwha Ocean; Choi Won-hyok, CEO of HMM; and representatives from shipbuilding and shipping companies, AI firms, universities, and research institutions. In his remarks, Minister Kim of MOTIR stated, “Korea’s shipbuilding and shipping industries have repeatedly demonstrated their ability to weather challenging conditions. As we now face the approaching wave of AI, the industries must come together to turn it into a new growth engine and move toward an even larger future.” He added, “Autonomous ships represent one of the most promising areas for delivering tangible outcomes under the M.AX strategy. By combining Korea’s world-class shipbuilding technologies with AI, we can take the lead in next-generation shipbuilding and shipping markets.” Minister Kim also emphasized, “Working closely with the Ministry of Oceans and Fisheries, MOTIR will foster autonomous ships as a future growth driver for both industries by linking technology development, data utilization, and the broader industrial ecosystem through the M.AX Alliance.” date2025-12-30

M.AX Alliance for Autonomous Ships Enters Full Operation: MOTIR and MOF Join Hands with Shipbuilding and Shipping Industries in a “2+2 Partnership”

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Oceans and Fisheries (MOF, Acting Minister Kim Sung-bum) jointly held the Strategic Meeting of the M.AX Alliance for Autonomous Ships on Monday, December 29, 2025, at Lotte Hotel Seoul. The meeting brought together approximately 100 participants from around 50 organizations, including shipbuilders, shipping companies, AI firms such as Naver and KT, universities, and research institutes. The meeting was particularly significant, as it marked the first time that key policymakers and industry leaders from Korea’s shipbuilding and shipping sectors convened to discuss a shared vision for the future of the maritime industry. Official Launch of the M.AX (Manufacturing AX) Alliance for Autonomous Ships Autonomous ships are emerging as a key strategic sector for the global shipbuilding and shipping industries as they confront structural shifts driven by tighter carbon-neutrality regulations, higher maritime safety standards, changes in seafaring workforce structures, and intensifying competition from rival countries. While MOTIR and MOF have made substantial progress under Phase I of the Autonomous Ship Technology Development initiative—including successful trials on international shipping routes—acquiring and sharing real-world demonstration data is now an essential priority for Phase II development. This industry consensus led to the launch of the Alliance, which brings together the shipbuilding, shipping, and AI industries to develop a shared data foundation and establish a cooperative demonstration framework. Securing a larger volume of demonstration data is critical to achieving technological leadership ahead of the establishment of International Maritime Organization (IMO) standards around 2030. At the meeting, the Alliance presented its vision based on three core pillars: Speed, Engagement, and Alliance (S.E.A.). “Speed” reflects the commitment to rapidly develop and demonstrate autonomous ship technologies ahead of international standards. “Engagement” emphasizes the Alliance’s role as an industrial cooperation platform that organically integrates shipbuilding and shipping, large enterprises and SMEs, and the public and private sectors. “Alliance” focuses on shared growth, ensuring that outcomes generated within the Alliance benefit the broader industrial ecosystem. During the event, the Korea Planning and Evaluation Institute of Industrial Technology (KEIT) and the Korea Ocean Business Corporation (KOBC) signed a memorandum of understanding to foster an AI-based autonomous ship ecosystem. By bringing together design and sea-trial data from shipbuilders, operational data accumulated by shipping companies, and algorithmic and data processing capabilities from AI firms, the Alliance will enhance the reliability and technical maturity of AI-enabled autonomous navigation systems. Looking ahead, MOTIR and MOF will launch demonstration projects in 2026 to build the world’s largest public dataset for AI training in autonomous ship technologies, while advancing a project to develop AI-enabled, fully autonomous ships. The Alliance will discuss concrete measures regarding the scope, methods, and targets of data collection, with the outcomes reflected in government-supported programs. The outputs will then be standardized, integrated into platforms, and converted into public datasets for broader industry use. The ministries will continue to support these efforts through data sharing, demonstration support, and regulatory improvements. Full-Scale Cooperation Between Korea’s Shipbuilding and Shipping Industries The Korea Offshore & Shipbuilding Association (KOSHIPA) and the Korea Shipowners’ Association (KSA) signed an agreement to promote shared growth between the shipbuilding and shipping industries. The agreement includes p date2025-12-29

Korea Launches “K-Chemistry Roadmap 2030” to Drive a New Leap Forward for Korea’s Chemical Industry

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held an inauguration ceremony for the Chemical Industry Innovation Alliance and unveiled the “K-Chemistry Next-Generation Technology Innovation Roadmap 2030” on Tuesday, December 23, 2025, at Lotte Hotel Seoul. The event was attended by approximately 150 participants, including representatives from local governments, industry, academia, and research institutions. The launch of the Alliance and the announcement of the Roadmap underscore the urgent need to strengthen the chemical industry’s future competitiveness through both the rationalization of production facilities and a shift from commodity materials to high value-added specialty products. Notably, the Roadmap adopts a “one-team” approach, moving away from fragmented, material-by-material R&D and instead supporting the entire chemical industry value chain—from feedstocks and materials to applications and end demand—by linking it with downstream demand industries such as semiconductors and future mobility. As reiterated at the petrochemical industry meeting held the previous day, the government will give priority to companies participating in business restructuring when providing R&D support. The “K-Chemistry Next-Generation Technology Innovation Roadmap 2030” outlines implementation strategies aimed at elevating Korea’s chemical industry from fifth to fourth place globally by 2030. The Roadmap seeks to advance R&D and infrastructure to secure core materials and process technologies based on three pillars: high value-added transformation, eco-friendly transformation, and strengthened responses to global environmental regulations. To promote the adoption of M.AX within the K-Chemistry industry, the government will support AI-driven technology development and the establishment of foundational infrastructure across all stages of material design and manufacturing processes. The Roadmap includes plans to establish autonomous experimentation systems integrating AI with automated equipment to shorten new material development timelines, as well as to implement intelligent process control systems that apply AI across every stage of production—from raw material input through polymerization, separation, post-processing, and fabrication—to optimize process conditions and minimize energy consumption in real time. The Roadmap was developed over six months with the participation of more than 80 domestic experts in technology identification and capability assessment. Following reviews by R&D leaders at petrochemical companies, 217 viable component technologies were selected. These technologies will be classified into four categories based on market potential and technological maturity, followed by tailored support measures. Based on the Roadmap, MOTIR plans to design projects through the Alliance and launch large-scale R&D programs in the first quarter of next year. The newly established Chemical Industry Innovation Alliance will serve as both the command center and implementation engine, operating as a collaborative model that spans the entire value chain—from feedstocks and materials to applications and end demand. The Alliance will also coordinate nine flagship projects across nine key sectors, including semiconductors and future mobility. Under this framework, demand-side anchor companies will specify performance requirements for key materials, while ecosystem participants—including SMEs at the feedstock, material, and application stages—will form consortia to develop technologies that meet those requirements and link them to commercialization. Park Dong-il, Director General for Industrial Policy, noted that “petrochemical companies submitted their restructuring plans on December 19 and reaffirmed their commitment to full-scale implementation at a minister-chaired meeting date2025-12-23

CEO Meeting on Business Restructuring for the Petrochemical Industry

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired the “CEO Meeting on Business Restructuring for the Petrochemical Industry” on Monday, December 22, at the Korea Chamber of Commerce and Industry (KCCI) in Seoul.   The meeting was attended by senior executives from the petrochemical industry, including the CEO of LOTTE Chemical Lee Young-jun; CEO of SK Geocentric Kim Jong-hwa; Vice Chairman of DL Chemical Kim Jong-hyun; CEO of HD Hyundai Chemical Cho Nam-su; Vice President of GS Caltex Heo Sung-woo; President of S-Oil Ryu Yeol; President of LG Chem Kim Dong-chun; CEO of Hyosung Chemical Lee Cheon-seok; CEO of SK Advanced Kim Chul-jin; President of Hanwha Solutions Nam Jung-woon; and Vice President of the Korea Chemical Industry Association, Eom Chan-wang, along with other representatives from the petrochemical sector.   Minister Kim gathered opinions on business restructuring from companies that submitted draft restructuring plans and encouraged their swift implementation. He stated, “While this year focused on laying the strategic groundwork for reform, next year will be decisive in determining its success through execution,” and stressed that “the government and industry will work together as one team toward the successful restructuring of the petrochemical sector.” date2025-12-23

Sixteen Companies from Three Petrochemical Complexes Submit Business Restructuring Plans, Marking the First Step of Structural Reform

All 16 petrochemical companies operating naphtha cracking centers (NCCs) and propane dehydrogenation (PDH) facilities across three petrochemical complexes in Yeosu, Daesan, and Ulsan submitted draft business restructuring plans by December 19, in line with the end-of-December deadline set out in the government’s August roadmap to revitalize the petrochemical industry.  Following the submission of business restructuring plans as part of the first phase of structural reform, the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) chaired a meeting with the petrochemical industry at the Korea Chamber of Commerce and Industry in Seoul on December 22. The meeting was convened to gather industry feedback on the submitted restructuring plans and to support their prompt implementation. Minister JK (Jung-Kwan) Kim stated, “The timely submission of restructuring plans by all companies puts the industry on track to meet its voluntary capacity reduction target of between 2.7 and 3.7 million tons, provided the plans are fully implemented.” He emphasized that “structural reform must move forward at a faster pace starting next year to deliver tangible results” and urged companies to “promptly finalize their business restructuring plans based on the drafts.” Once companies submit their final plans, MOTIR will review them for approval through a dedicated Business Restructuring Review Committee. Upon approval, the ministry will announce a comprehensive support package—covering finance, tax incentives, R&D, and regulatory easing—to facilitate implementation. To support the shift toward higher value-added production, the Chemical Industry Innovation Alliance will be launched on December 23, 2025. The Alliance will bring together all key stakeholders across the chemical industry ecosystem—including demand-anchor companies, small and medium-sized chemical firms, academia, and research institutions—and will serve as a collaborative platform to explore R&D programs and infrastructure support measures for core materials, with a view to advancing the industry’s core sectors and accelerating its transition toward more environmentally sustainable production. In advancing these R&D efforts, the government will give priority to the R&D needs of companies participating in the restructuring. The meeting also discussed the “Daesan Project No. 1,” for which HD and Lotte applied for restructuring approval on November 26, 2025. The project is currently undergoing preliminary review, with approval targeted for January next year, and the government’s support package has entered its final review stage. Creditor financial institutions are also coordinating and finalizing financial support measures based on ongoing due diligence. Minister Kim assessed that “despite a tight schedule, all companies had submitted their draft restructuring plans by the end-of-December deadline set at the August ministerial meeting on strengthening industrial competitiveness, marking a solid start to structural reform.” He added that “while this year focused on laying the strategic groundwork for reform, next year will be decisive in determining its success through execution,” and stressed that “the government and industry will work together as one team toward the successful restructuring of the petrochemical sector.” Minister Kim also emphasized that “the government will pay close attention to potential challenges affecting regional SMEs and employment during the restructuring process,” and added that “a comprehensive support plan for the chemical industry ecosystem will be announced in the first half of next year. date2025-12-23

MOTIR Discusses Measures to Expand Industrial Cooperation Following the UAE State Visit

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates (UAE) and Group CEO of the Abu Dhabi National Oil Company (ADNOC), in Seoul on Thursday, December 18, 2025, to discuss measures to expand industrial cooperation aimed at translating the economic outcomes of the recent Korea–UAE summit into concrete projects. The meeting followed the first round of industrial ministers’ talks held in Abu Dhabi in November 2025 and was convened during Minister Al Jaber’s visit to Korea this week. The two sides exchanged views on key areas of bilateral cooperation, including collaboration on AI data centers, joint oil stockpiling, and broader engagement across the oil and gas industry. Noting that Korea and the UAE agreed to work together on the Stargate UAE Project—which aims to build a next-generation, large-scale AI data center in Abu Dhabi—the ministers discussed ways to strengthen cooperation in advanced industries through the project. Minister Kim explained that MOTIR is coordinating with relevant ministries on follow-up initiatives with the UAE in new industries. He emphasized that bilateral cooperation could help accelerate development of the UAE’s AI infrastructure, as Korea has a broad base of competitive companies across semiconductors; data center construction and operation; cooling technologies; engineering, procurement, and construction (EPC); and power generation. To facilitate smooth implementation, he also requested that the UAE provide more detailed information on the Stargate UAE Project and support discussions between companies from both sides. The two ministers also recognized that the Korea–UAE joint oil stockpiling project, which has been under way since 2013, represents a model case of bilateral energy cooperation. They assessed that the project is mutually beneficial, as Korea enhances its emergency oil supply capacity through priority purchase rights for stored crude oil, while the UAE establishes a strategic base for responding to oil demand in Northeast Asia. Accordingly, the two sides agreed to continue discussions on cooperation measures, including expanding the scale of joint stockpiling, to strengthen energy supply chain stability. Both sides reaffirmed that trade and investment in the oil and gas sector remain a core pillar of bilateral economic cooperation. Minister Kim highlighted that in the upstream sector, the Korea National Oil Corporation and GS Energy are successfully implementing oilfield development projects with ADNOC in the UAE, while in the downstream sector, large-scale joint projects are being advanced in areas such as plant construction, petrochemicals, and shipbuilding. They acknowledged that collaboration in the oil and gas sector has contributed significantly to bilateral economic development and agreed to continue working together to expand business outcomes. MOTIR noted that the meeting provided an opportunity to translate the outcomes of the Korea–UAE summit into concrete industrial cooperation projects. Going forward, the ministry plans to activate high-level consultation channels with the UAE and pursue follow-up measures to ensure that substantive cooperation continues to deepen in strategic industries, including AI data centers and across the full value chain of the oil and gas industry. date2025-12-18

MOTIR Reviews Request for Additional Designation of Ganghwa Southern District in Incheon Free Economic Zone

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the 146th Free Economic Zone (FEZ) Committee on Monday, December 15, 2025. At the meeting, MOTIR reported on a request to designate the Ganghwa Southern District as an additional zone within the Incheon FEZ, and the Committee approved an amendment to the development plan for the Sindae Hinterland Complex in the Gwangyang Bay Area FEZ, including an extension of the project period. Under the Special Act on Designation and Management of Free Economic Zones, local governments seeking free economic zone designation are required to submit a development plan to MOTIR. The ministry then reports the request to the FEZ Committee and, following consultations with relevant ministries and expert evaluations, makes a final determination through the Committee’s deliberation and resolution. Incheon plans to develop the Ganghwa Southern District into a global advanced industrial city integrating future technologies with regional resources. The plan will leverage local agri-food and marine specialties, along with the area’s cultural and natural assets and international airport infrastructure, to foster new growth engines in advanced industries and cultural tourism—including bio, physical AI, and integrated tourism—while establishing a strategic base to respond to the reorganization of global supply chains. The proposed amendment to the development plan for the Sindae Hinterland Complex extends the project period through 2026 to ensure smooth implementation of follow-up projects and adjusts the project area to reflect finalized land survey results. Je Kyung-hee, Director-General of the Free Economic Zone Planning Office, stated, “The Committee will actively reflect the views of local governments and, in close consultation with experts and relevant ministries, create tailored development strategies to position free economic zones as key hubs for foreign investment attraction and regional development." date2025-12-16

Minister Kim Meets with Korean Companies Operating in Beijing

JK (Jung-Kwan) Kim, Minister of Trade, Industry and Resources (MOTIR), held a roundtable with Korean companies operating in Beijing on Thursday, December 11.   The meeting was attended by representatives from Korean companies and related organizations in China, including Samsung, SK, LG Chem, POSCO China, and Doosan Enerbility.   After delivering opening remarks, Minister Kim listened to policy suggestions and discussed challenges and proposals raised by participating companies regarding economic, trade, and industrial issues. date2025-12-15

Minister Kim Visits the Xiaomi Electric Vehicle Plant in Beijing

JK (Jung-Kwan) Kim, Minister of Trade, Industry and Resources (MOTIR), visited the Xiaomi electric vehicle manufacturing plant in Beijing, China, on Thursday, December 11. During the visit, Minister Kim toured the electric vehicle production process at the facility.   Following the tour, Minister Kim held a meeting with company officials to discuss the electric vehicle industry’s R&D trends and business environment. date2025-12-15