Ministry of Trade Industry and Resources

Korea and India discuss steel cooperation

Korea's Deputy Minister for Industrial Policy Lee Seung-ryeol met Sandeep Poundrik, India’s Secretary at the Ministry of Steel, on July 18 in Seoul to discuss Korea-India steel cooperation as well as local issues faced by Korean exporters. date2025-07-21

Eco-Friendly Vehicle Exports Set Monthly Records for Third Consecutive Month in June

Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced today that electric vehicle exports, including hydrogen vehicles, reached $780 million in June – an increase of 11.2 percent year-on-year, marking the first return to growth in 16 months since January 2024. Signaling a positive turnaround in EV exports, total exports of eco-friendly vehicles rose 18.6 percent from a year earlier to $2.2 billion, setting a new monthly record for the third consecutive month. Overall automobile exports also rebounded in June after two months of decline, reaching $6.34 billion (up 2.3 percent year-on-year), the highest export value ever recorded for the month of June. By model, GM Korea’s Trax (28,797 units) and Trailblazer (15,747 units) continued to show strong export performance, ranking first and fifth, respectively. Hyundai’s Kona (21,399 units) and Palisade (15,947 units) also performed well, ranking second and fourth, respectively, underscoring the sustained strength of SUV exports. Electric vehicle exports also contributed to the rebound, with approximately 22,000 units exported – a 21.4 percent increase year-on-year - including 7,903 units of the EV3 and 3,938 units of the Casper EV. By region, exports to the U.S. declined by 16.0 percent year-on-year to $2.69 billion. In contrast, exports to the European Union rose for the third consecutive month. Notably, exports to Germany surged to $150 million (up 137.8 percent), and to the Netherlands to $90 million (up 89.8 percent), driven by a combination of factors including a low base effect from last year’s weak performance, robust EV export growth, and the establishment of KG Mobility’s European sales subsidiary in Germany in August 2024. Exports of automobile parts rose to $1.8 billion in June, marking a 2.5 percent year-on-year increase. Growth was observed in key markets such as the U.S. (up 6.3 percent to $680 million) and the Czech Republic (up 4.9 percent to $70 million), where Korean automakers operate local manufacturing plants. Significant growth was also recorded in emerging markets such as Kazakhstan (up 208 percent to $40 million), driven by strong demand for aftermarket parts. Domestic automobile sales in June 2025 increased for the fifth consecutive month, reaching 146,000 units - up 5.8 percent year-on-year. Of this total, sales of domestically produced vehicles rose to 117,000 units (up 6.2 percent), while imported vehicle sales reached 29,000 units (up 4.0 percent). Sales of eco-friendly vehicles maintained their upward trajectory for the 16th consecutive month, accounting for nearly half (49.8 percent) of total domestic sales. Notably, domestic EV sales exceeded 20,000 units for the second month in a row, following their recovery to the 20,000-unit mark in May— the first time in 14 months since March 2024. Automobile production in June 2025 remained largely unchanged from the same period last year, recording a slight decline of 0.1 percent. This was due to increased domestic sales of domestically produced vehicles (up 4.8 percent) being offset by a decrease in exports (down 3.1 percent). Notably, pickup truck production surged to 23,000 units – an 853 percent increase - driven by the launch of new models such as Hyundai’s Tasman and KGM’s Musso EV. This led to substantial growth in both domestic sales (up 131 percent) and exports (up 850 percent). In the first half of 2025, Korea’s automobile industry recorded a 3.8 percent year-on-year decline in exports, totaling 1.41 million units. This decrease was primarily attributed to increased overseas production by Korean automakers and a base effect following strong performance in the previous year. However, the decline in overall production was relatively moderate, falling by 1.6 percent to 2.11 million units, supported by a 3.5 percent increase in domestic sales, which reached 830,000 units. Growth in the domestic date2025-07-18

Korea’s ICT exports rise 5.8% in H1 2025

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) announced today that Korea’s exports and imports of information and communications technology (ICT) goods for the first half (H1) of 2025 gained 5.8 percent and 5.0 percent year-on-year to USD 115.2 billion and $70.9 billion, respectively. The trade balance recorded a surplus of $44.2 billion. In H1 2025, ICT exports maintained an upward trajectory for five consecutive months as a result of increasing demand for AI datacenters, achieving the second highest export value for H1.  By category, exports of semiconductors (up 11.4 percent), mobile phones (up 9.1 percent) and computers/peripherals (up 10.8 percent) rose, whereas those of displays (down 13.9 percent) and communication devices (down 2.5 percent) declined.  Semiconductor exports hit historic highs for H1 as fixed prices of key memory chips like DRAMs and NAND flash rebounded and high value-added chips such as HBMs and DDR5s retained strong performance. Mobile phone exports were driven by robust sales of top models and parts like camera modules.   Computers/peripherals also advanced, led by growing exports of datacenter solid-state drives (SSDs) in tandem with the expansion of AI servers.  Meanwhile, display exports shrank from the impact of adjusted downstream industry shipments and last year’s base effect. The drop in communication device exports is attributed to the global market slowdown as well as increased local production in Vietnam in an effort to secure cost competitiveness. By region, Korea’s H1 ICT exports grew to overseas markets like Taiwan (up 89.6 percent), the U.S. (up 14.5 percent), Vietnam (up 10.0 percent), India (up 9.3 percent), and Japan (up 5.7 percent). Those to China (including Hong Kong) (down 11.5 percent) and the EU (down 2.7 percent) contracted. As for H1 imports, categories like graphic cards (up 23.9 percent) and midrange and mainframe computers (up 36.9 percent) climbed sharply amid an expansion of AI infrastructure. ICT exports for June 2025 logged new highs for the month at $22.0 billion (up 4.7 percent), with semiconductor exports recording all-time monthly highs (up 11.5 percent to $15.0 billion).   date2025-07-14

Korea’s retail industry grows 7.0% in May

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s retail industry grew 7.0 percent year-on-year overall during the month of May 2025, with offline and online sales gaining 0.9 percent and 13.0 percent, respectively. MOTIE's monthly retail sales figures are based on surveys of 23 major retailers. Thirteen of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSMs) operators. The remaining 10 are online retailers. By offline retail channel, sales at hypermarkets (up 0.2 percent) and department stores (up 2.3 percent) posted growth for the first time since the Seollal holiday season in January, led by high-priced items and increased revenue per visit. Convenience stores inched down 0.2 percent, whereas SSM operators (up 1.0 percent) maintained their upward trajectory for the third consecutive month, driven by the steady rise of visitors. By category, offline sales expanded in areas like food products (up 1.0 percent) and luxury goods (up 8.1 percent) such as jewelry and watches. In contrast, home appliances/culture (down 7.8 percent), kids/sports (down 2.5 percent), and fashion/miscellaneous (down 3.7 percent) experienced further slowdowns. As for online sales, services (up 37.3 percent) and food products (up 18.2 percent) retained solid growth on the backs of demand for food deliveries, e-coupons, travel packages, and cultural goods. However, fashion/clothing (down 4.6 percent) and sports (down 12.7 percent) continued their contraction.   date2025-06-25

Korea Set to Localize 30% of CNC Systems by 2032

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) announced on June 18, 2025, that KCNC succeeded in developing a Korean-made computerized numerical control (CNC) systems, a core technology used in the majority of Korea’s machinery and equipment processing.  CNC utilizes computerized systems to precisely control machining processes such as cutting, milling, and pressing, and is mainly installed in manufacturing equipment for producing machinery. While CNC is a key component of the machinery industry, developing the system is technically demanding, and companies in Germany, Japan, and the U.S. account for more than 80 percent of the global CNC market. With KCNC’s successful development of a CNC system, the industry is anticipating the Korean-made CNC systems to capture at least 30 percent of the domestic market by 2032. The plans to develop CNC began emerging in earnest in  2019, when materials, parts, and equipment (MPE) supply chains started gaining recognition for their importance. The plans were also triggered by concerns that any disruption in CNC supply— the entirety of which Korea was dependent on imports—may halt production lines nationwide across the manufacturing sector. CNC development calls for simultaneous advances in various hardware and software technologies, including the controller’s main body, motor, and interface, making it difficult for any single company to take on the project alone. Accordingly, MOTIE launched a consortium led by the Korea Institute of Machinery & Materials, bringing together more than 20 companies, research institutes, and academic experts. Participants later established KCNC in the form of a joint venture for technological development and commercialization. After five years of development, field operators and experts conducted an objective evaluation in May 2025, in which they found that the developed CNC system has reached performance levels comparable to that of other advanced countries in key performance indices, such as machining error and surface quality. However, improvements are still needed in areas such as interface user friendliness and range of functions offered. Korea currently relies on imports for 95 percent of its CNC supply, and even the remaining five percent of domestic products require foreign technology for core components. The newly developed CNC system is expected to substantially stabilize supply chains for Korean manufacturers and generate significant economic benefits. Replacing 30 percent of domestic and overseas CNC demand with Korean-made products is expected to create an annual economic value of around KRW 200 billion, equivalent to approximately USD 146 million. Swift after-sales service and customized product development are some added merits of the localization. Starting July, KCNC will enter a one-year demonstration phase for commercialization. The tests will cover high-speed and repetitive procedures, machining with various materials and tools, equipment durability, and reliability in real-world production. Four major buyer companies, which account for over 90 percent of CNC systems demand, are to participate in the demonstration process. These companies have already submitted letters of intent indicating that they will sign purchase agreements if demonstration results meet the specifications. Once the demonstration phase is completed successfully, the Korean-made CNC systems will be up for purchase beginning in 2026, with relevant industries forecasting that the systems will secure over 30 percent in domestic market share by 2032. date2025-06-18

Eco-friendly auto sales surpass conventional cars in May

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s domestic automobile sales for the month of May 2025 increased 0.4 percent year-on-year to 141,865 units.  Eco-friendly vehicles took up 52 percent of total domestic automobile sales, surpassing the sales of internal combustion engine cars for the first time. The number of Korean electric vehicles (EVs) sold in the domestic market also soared 58.8 percent, thanks to the wider array of consumer choices with the recent rollout of new models across different car segments. Monthly automobile exports reached $6.2 billion, entering the $6 billion thresholds for the fourth consecutive month and recording second highest in exports for May. Eco-friendly vehicle exports hit an all-time high of 75,184 units (up 10.2 percent), driven by solid demand for hybrid electric vehicles (HEVs). Meanwhile, domestic automobile production declined 3.7 percent to 358,969 units.   date2025-06-17

Korea and Netherlands launch Future Chips Academy 2025

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) and the Korea Institute for Advancement of Technology (KIAT) will launch the Korea-Netherlands Future Chips Academy 2025 on June 16–20, 2025, in the Netherlands to promote bilateral exchange in fostering high-level talent in advanced semiconductors. Now in its second year, the Future Chips Academy is a joint Korea-Netherlands education program based on the two countries’ semiconductor business cooperation and is designed to cultivate highly-level global talents in advanced semiconductor technologies. This year, 50 master’s and doctoral students from six semiconductor-specialized graduate schools in Korea will visit leading Dutch institutions and companies such as ASML, NXP Semiconductors, imec the Netherlands (IMEC), and Eindhoven University of Technology (TU/e), where they will take part in various programs such as lectures and a team project challenge. The program is expected to help Korean researchers deepen their understanding of the latest advanced chip technology trends and further strengthen Korea’s semiconductor R&D capacity. This year’s Future Chips Academy includes in-depth discussions on research cooperation and educational approaches between Korea and the Netherlands under the theme of future semiconductors. Expert lectures at local companies are also scheduled on topics including patterning technology and automotive chips. On the final day, students will consolidate what they have learned through the team project challenge and propose creative ideas for semiconductor technology development. In the coming months of July and August 2025, Korea Advanced Institute of Science and Technology (KAIST) and the Korea Semiconductor Academy are slated to engage in exchange programs with the Netherlands’ Eindhoven University of Technology and Delft University of Technology, respectively. In September 2025, 30 outstanding graduates of the Korea Semiconductor Academy will also take part in a five-day education program in the Netherlands, giving them an opportunity to build practical knowledge and broaden their perspective. date2025-06-16

Korea’s ICT exports climb 9.6% in May

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) announced today that Korea’s exports and imports of information and communications technology (ICT) goods for the month of May 2025 advanced 9.6 percent and 0.5 percent year-on-year, respectively, to USD 20.9 billion and $11.5 billion. The trade balance stood at a surplus of $9.4 billion. It is significant that ICT exports reached record highs for the month in spite of recent global trade uncertainties. By item, exports of semiconductors (up 21.2 percent), mobile phones (up 2.8 percent), computers/peripherals (up 1.7 percent), and communication devices (up 10.2 percent) achieved gains, whereas those of displays declined (down 17.5 percent). Semiconductor exports rose as fixed prices of major items like DRAMs and NAND flash rebounded and high value-added memory chips like HBMs and DDR5s retained strong growth momentum. Mobile phones expanded on the backs of demand for finished smartphone products and computers/peripherals increased in step with revived demand for solid-state drives (SSDs). Exports of communication devices were driven by rising demand for automotive communication systems in the U.S. and 5G equipment in India. In contrast, displays were negatively affected by trade uncertainties and sluggish global demand. By region, Korea’s May ICT exports increased to destinations like the U.S. (up 7.2 percent), Vietnam (up 15.7 percent), EU (up 1.5 percent), and Japan (up 12.5 percent), while those to China (including Hong Kong) (down 6.8 percent) contracted. Meanwhile, the uptick in ICT imports was led by items like computers/peripherals (up 37.4 percent), powered by AI-driven demand for datacenter GPUs (up 51.1 percent) as well as midrange and mainframe computers (up 130 percent).   date2025-06-12

Seoul Food 2025 takes off at KINTEX

Deputy Minister for International Trade and Investment Park Jung-sung attended Seoul Food 2025 on June 10 at KINTEX in Ilsan, held with the participation of 1,639 food companies from 45 countries and gave a congratulatory address and toured the major booths with KOTRA President Kang Kyung-sung and KINTEX President Lee Jae-yul. date2025-06-11

Seoul Food 2025 Kicks Off at Record Scale

Korea’s Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) and the Korea Trade-Investment Promotion Agency (KOTRA) announced that the Seoul International Food Industry Exhibition 2025 (Seoul Food 2025) will be held on June 10–13, 2025, at the Korea International Exhibition Center (KINTEX) in Ilsan. Launched in 1983, Seoul Food is now in its 43rd year and is Korea’s largest food exhibition and the fourth largest in Asia. This year’s event has drawn a record of 1,639 food businesses from 45 countries, while the number of overseas buyers participating in the trade consultations program has increased 20 percent year-on-year to 300. The growing popularity of K-food across  Southeast Asia and the U.S. has attracted a substantial number of major buyers, and this year’s trade consultations are estimated to generate export deals worth approximately USD 250 million, up 25 percent from 2024. Meanwhile, global experts will present and discuss various issues at the 9th Global Food Trends & Tech Conference, covering recent global food industry trends such as meat alternatives, low-sugar products, future food technology, AI, robots, and digital food technology. In addition, a score of leading businesses in the areas of meat alternatives, food tech, and convenience meals will be recognized at  the 10th Seoul Food Awards program for their achievements, while exclusive promotion booths will be set up to support exports of their quality food items. Another special feature of Seoul Food 2025 is the participation of influencers and content creators from Korea, China, Vietnam, and Japan, who will help sell and promote food products through digital platforms, expanding beyond conventional retail channels. In conjunction with Seoul Food 2025, Korea’s Ministry of Agriculture, Food, and Rural Affairs (MAFRA) is hosting a one-on-one trade consultation program to support market diversification for competitive SMEs and middle-market companies.  Buyers from emerging markets such as Chile, Guatemala, and Laos will be introduced to Korea’s top export items, including kimchi, red ginseng, and yuja preserves, with the aim of generating tangible outcomes such as MOUs and trade deals to help companies break into new markets. Furthermore, the National Food Cluster pavilion will return for the second consecutive year to support exhibitions, tasting events, and buyer consultations for 48 promising food companies. date2025-06-10