Ministry of Trade Industry and Resources

2025 APEC Energy Ministerial Meeting Opens in Korea

Korea’s Ministry of Trade, Industry and Energy (MOTIE) is hosting the 15th Asia-Pacific Economic Cooperation Energy Ministerial Meeting (APEC EMM) from Wednesday, August 27 to Thursday, August 28 in Busan. In line with the global trend of pursuing both carbon neutrality and energy security, the meeting seeks to set directions and explore collaborative measures for energy transition and innovation within the APEC region. This year marks the first time in 20 years that Korea serves as chair of the APEC EMM. The opening ceremony carries added significance as it took place at Nurimaru APEC House, the same venue that hosted the 2005 APEC Economic Leaders’ Meeting.   <15th APEC Energy Ministerial Meeting> - (Date/Venue) August 27 (Wed) 16:30 - 18:30 Nurimaru APEC House (Korea’s opening remarks available to the public) August 28 (Thu) 09:00 - 16:00 Paradise Hotel Busan - (Agenda) ① Electricity grid & energy security, ② Expanding stable energy supply, ③ AI-driven energy innovation - (Participants) About 340 representatives from 21 APEC member economies, international organizations, and global companies   A key global energy trend today is the rapid advance of electrification, driven by the growth of cutting-edge industries and the proliferation of AI data centers. With energy demand surging, stable supply and stronger grid security are becoming increasingly critical. While AI fuels rising demand, it can also offer solutions by optimizing energy systems and improving their efficiency. Against this backdrop, the 15th APEC EMM is addressing the following three key agendas. The first agenda focuses on expanding stable energy supply. Participants share a common understanding that energy demand within the APEC region is rapidly increasing due to the spread of AI data centers and the electrification of industries and transportation. To address imbalances in supply and demand, they are discussing measures to expand stable, economical, and reliable supply. Senior officials from Mission Innovation and the World Bank are also attending this session to share insights on public-private cooperation for strategic investment and technology innovation. The second agenda addresses strengthening grid security and reliability. This session provides an opportunity for participants to explore measures in bolstering energy security through grid expansion and modernization. Representatives from international organizations, including the Clean Energy Ministerial Secretariat, and global energy companies are participating to discuss grid modernization strategies, technological advances, and opportunities for regional innovation. The third agenda examines AI-driven energy innovation. Participants are building consensus around the idea that in the era of AI transformation, the AI revolution and energy innovation must advance together. They are discussing ways to leverage AI to ensure both the efficiency and reliability of energy systems. The World Economic Forum and the Asian Development Bank are also participating, introducing AI-powered initiatives and programs currently being implemented in energy systems. These three agendas are the central themes of the APEC EMM plenary session. In his opening remarks, Vice Minister of MOTIE Lee Ho-hyeon stated, “Korea is developing various technologies to expand energy supply in response to demand surges, building an ‘Energy Highway’ to enhance grid stability and resilience, and establishing a ‘K-Grid’ that combines microgrid and AI technology to improve efficiency in grid management.” He added, “This 15th APEC EMM will serve as an important milestone in advancing regional energy cooperation.” date2025-08-28

Korea’s Auto Industry Posts Comprehensive Growth in July

The Ministry of Trade, Industry and Energy (MOTIE) announced on August 19 that Korea’s automobile exports, domestic sales, and production all rose year-on-year in July, marking a solid start to the second half of 2025. Automobile exports grew for the second consecutive month, reaching $5.8 billion (up 8.8 percent year-on-year). This was driven by a 5.8 percent rise in new vehicle exports and a 17.0 percent surge in eco-friendly vehicle exports, namely electric vehicles (EVs, up 12.3 percent), hybrid vehicles (up 18.1 percent), and plug-in hybrid vehicles (up 31.7 percent). By destination, automobile exports to the EU climbed 32.7 percent to $0.7 billion, while those to non-EU regions soared 78.7 percent to $0.6 billion year-on-year. Exports to the Middle East declined 13.8 percent to $0.4 billion, largely due to the ongoing Israel-Iran conflict. Meanwhile, domestic sales of eco-friendly vehicles set a new monthly record in July, accounting for 55.3 percent of total automobiles sold in Korea. In particular, EV sales spiked 69.4 percent year-on-year to nearly 26,000 units. As of July 30 (US local time), Korea and the US agreed to set tariffs on automobiles and auto parts at 15 percent, easing much of the trade uncertainty. The Korean government plans to support the automobile industry in swiftly adapting to the new trade environment and secure growth momentum through financial aid, technology development, and new market opportunities. date2025-08-20

Minister Visits Hanwha Ocean’s Shipyard

Korea’s Minister of Trade, Industry and Energy Kim Jung-kwan visited Hanwha Ocean’s Geoje Shipyard in Gyeongsangnam-do, Korea, on Thursday, August 14, 2025. During his first industrial site visit since taking office, the minister attended the naming ceremony for two very large liquefied natural gas carriers, where he delivered congratulatory remarks and celebrated alongside Hanwha Ocean CEO Kim Hee-cheul and other officials. The minister then toured specialty shipyards before visiting the maintenance, repair, and overhaul site for Charles Drew, the 3rd US naval vessel currently at the Geojeo Shipyard. Encouraging employees and crew members, he also met with Kim Yoo-chul, leader of Hanwha Ocean’s labor union, to express appreciation for workers’ dedication to the rebound of Korea’s shipbuilding industry. date2025-08-19

Korea’s ICT Exports Surge 14.4% in July

The Ministry of Trade, Industry and Energy and the Ministry of Science and ICT announced on August 14 that Korea’s exports of ICT goods in July 2025 climbed 14.5 percent year-on-year to USD 22.2 billion, while imports grew 9.8 percent to $13.3 billion. The trade balance recorded a surplus of $8.9 billion. Despite policy uncertainties, including the announcement of new US tariffs, ICT exports reached an all-time high for the month of July. Semiconductor exports, in particular, achieved a record-breaking performance for four consecutive months. Semiconductor exports spiked 31.2 percent year-on-year, driven by rising contract prices for DRAM and NAND memory, alongside sustained global demand for high-value memory products such as HBM and DDR5. Communication device exports rose 4.6 percent, supported by demand for automotive communications equipment in the US and 5G equipment in Japan. Exports of displays (down 8.9 percent), mobile phones (down 21.7 percent), and computers/peripherals (down 17.1 percent) all declined; however, strong exports of finished smartphone products partially offset the drop. By destination, ICT exports increased to the US (up 11.9 percent), Vietnam (up 16.4 percent), the EU (up 18.0 percent), and Japan (up 23.9 percent), while exports to China (including Hong Kong) fell 5.6 percent. ICT imports in July rose 9.8 percent year-on-year to $13.3 billion, driven by gains in semiconductors (up 9.2 percent), mobile phones (up 19.3 percent), and computers/peripherals (up 15.6 percent). date2025-08-14

Korea's Exports Rise 5.9% in July

The Ministry of Trade, Industry and Energy (MOTIE) announced on August 1 that Korea’s exports in July 2025 rose 5.9 percent year-on-year to USD 60.8 billion, while imports edged up 0.7 percent to $54.2 billion. The trade balance recorded a surplus of $6.6 billion. Daily average exports for the month, factoring in the number of working days, also rose 5.9 percent to $2.4 billion. Of Korea’s 15 major export categories, three posted growth in July. Semiconductors hit a historic high for the month, up 31.6 percent to $14.7 billion, driven by rising contract prices and sustained global demand for high-value memory products, such as HBM and DDR5. Automobile exports grew 8.8 percent to $5.8 billion for the second consecutive month, supported by strong demand for hybrid electric vehicles and internal combustion engine vehicles. Ship exports increased for the fifth straight month, soaring 107.6 percent to $2.2 billion fueled by greater shipments of high-value vessels, including tankers and LNG carriers. Non-major export items reached a new record of $14.2 billion with the help of agricultural food products (up 3.8 percent to $1.1 billion), cosmetics (up 18.1 percent to $1.0 billion), and electric machinery (up 19.2 percent to $1.6 billion). Furthermore, exports increased in six out of nine major regional markets. Exports to ASEAN climbed 10.1 percent to $10.9 billion, driven largely by strong growth in semiconductors, though China-bound exports dropped 3.0 percent to $11.0 billion. Exports to the US increased 1.4 percent to $10.3 billion due to a rise in semiconductors, wireless communication devices, cosmetics, electric machinery, and other non-major export items, offsetting declines in steel and automobile parts. Exports to the EU grew for the fifth consecutive month, gaining 8.7 percent to $6.0 billion, with multiple major export items such as automobiles, ships, and petroleum products trending upward. Exports to CIS countries (up 21.5 percent to $1.2 billion) grew for the fifth consecutive month, and Latin America (up 4.4 percent to $2.7 billion) and India (up 10.7 percent to $1.8 billion) marked their second consecutive months of growth. Exports to Taiwan also soared 68 percent to $4.7 billion thanks to a near-doubling of semiconductor exports. date2025-08-01

Korea’s retail industry grows 7.8% in H1 2025

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s retail industry gained 7.8 percent year-on-year in the first half (H1) of 2025, with offline sales declining 0.1 percent and online sales advancing 15.8 percent. 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. Korea’s retail industry growth over the past five years was mainly driven by sales of department stores, convenience stores, and SSMs, powered by consumer preference for luxury goods and shopping local trends. Moreover, the increasing number of single-person households led to the expansion of small quantity purchases and online grocery shopping. On the other hand, online retail sales rose steeply each year alongside the growth of the service sector, as e-coupons, travel/culture packages, and delivery services continued to flourish. During H1 2025, offline retail sales were affected by deteriorating consumer sentiment, rise of e-commerce, and the decreasing number of brick-and-mortar store visitors. Consequently, sales at hypermarkets (down 1.1 percent) and convenience stores (down 0.5 percent) dropped, whereas those of department stores inched upward by 0.5 percent on the backs of increasing demand for luxury goods. SSMs (up 1.8 percent) experienced a steady growth in the number of stores based on the rise in food prices and demand for home dining. By category, strong demand for home dining and services drove up sales of food products (up 8.3 percent), service/other (up 28.8 percent), and home/living (up 3.7 percent). Online retail sales were especially high in service/other (up 57.6 percent) and the sales growth of food products was also higher across online retail (up 19.6 percent) compared to offline (up 0.6 percent). Meanwhile, sales of fashion/miscellaneous (down 2.6 percent) and kids/sports (down 2.9 percent) decreased. For the month of June 2025, offline retail sales fell 1.1 percent year-on-year while online sales climbed 15.9 percent, achieving an overall growth of 7.3 percent.   date2025-07-30

Vice Minister meets Czech Industry and Trade Minister

Korea's Trade, Industry and Energy Vice Minister Lee Hohyeon met Czech Minister of Industry and Trade Lukáš Vlček on July 18 in Seoul to discuss bilateral cooperation in nuclear, industries, energy, and infrastructure. date2025-07-21

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