Ministry of Trade Industry and Resources

Korea Deepens Advanced Technology Cooperation with Germany and Switzerland

Je Kyung-hee, Director General for Industrial Technology Convergence Policy at the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun), visited Hannover, Germany, on April 1–2, 2025, for the Eureka Global Innovation Summit 2025, where she held bilateral talks with partner countries to expand technology cooperation with leading research institutions. Eureka is the world’s largest joint R&D platform, bringing together 48 countries. Korea became the first non-European and only Asian full member in 2022, and joined its Board of Directors in 2023. At the Summit, Director General Je met with Armin Reinartz, Head of Directorate-General for European and International Cooperation from the Federal Ministry of Education and Research (BMBF) of Germany, a Eureka chair country. They discussed measures to strengthen Korea-Eureka cooperation and widen Korea-Germany cooperation in areas of advanced sectors such as robots and semiconductors. Director General Je also met with Marc Pauchard, Head of the Knowledge Transfer and International Programmes Division of the Swiss Innovation Agency, Innosuisse, and expressed Korea’s support for Switzerland’s successful Eureka chairmanship from July 2025 to June 2026. On April 3–4, Director General Je will be visiting the Fraunhofer Society for the Advancement of Applied Research and the German Aerospace Center (DLR) to potential new projects in industrial AI, quantum computing, robots, and other advanced technology fields, while seeking ways to leverage the Global Industry and Technology Cooperation Center at the Fraunhofer Institute to invigorate global open innovation by Korean companies, universities, and research institutions. Meanwhile, MOTIE held the Korea Eureka Day 2025 in Hannover on April 1–2. Since joining Eureka in 2009 as an associate member, Korea has provided a total of KRW 250 billion in funding for more than 250 projects in advanced bio, AI, and semiconductors. Eureka has also served as the primary platform for technology collaboration between Korean industries and the EU. This year’s Korea Eureka Day featured a range of programs for Korean business participants, including the Korea-Europe Innovation Forum, technical partner matchmaking, and one-on-one consulting sessions with Europe-based Korean engineers. date2025-04-02

Korea’s retail industry grows 4.4% in February

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that Korea’s retail industry advanced 4.4 percent year-on-year in February 2025, with offline sales declining 7.7 percent and online sales growing 16.7 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. With this year’s Seollal holidays landing in January and the number of working days for February coming short by a day compared to last year, retail sales across all offline channels decreased.  Hypermarkets slowed in most sales categories such as food products (down 19.7 percent), home appliances/culture (down 10.9 percent), clothing (down 23.6 percent), and home/living (down 22.5 percent). Department stores showed growth in foreign designer labels (up 4.5 percent) and household goods (up 4.3 percent), while food products (down 21.2 percent), miscellaneous goods (down 6.5 percent), and kids/sports (down 7.6 percent) shrank. Convenience stores and SSMs experienced retreating sales in both food and non-food categories. As for the online retail industry, food products (up 14.9 percent) and service/other (up 76.3 percent) sales expanded on the backs of stronger online delivery services and robust demand for food delivery and e-coupons, whereas fashion/clothing (down 9.7 percent) and sports (down 9.8 percent) contracted. Meanwhile, back-to-school demand drove sales for home appliances/consumer electronics (up 3.6 percent) and helped snap their five-month downward streak.   date2025-03-25

Korea and Spain Expand Advanced R&D Cooperation for Technological Leadership

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) and Spain’s Ministry of Science, Innovation and Universities (MICIU) held the second Korea-Spain Industrial Technology Cooperation Joint Committee meeting in Madrid, Spain, on March 5, 2025. Since 2015, the two countries have pursued bilateral technology cooperation through the Eureka Network, the world’s largest R&D platform, with 48 participating countries. In 2023, they expanded the scope and scale of bilateral cooperation by establishing a joint R&D program for medium to large-sized projects in line with their respective industrial strategies. The program has supported four bilateral joint R&D projects, including in mobility and renewable energy, with combined funding of KRW 25.6 billion. At the Joint Committee meeting, both sides shared the view that artificial intelligence (AI), advanced materials, and semiconductors are core technologies used across all industries. The two sides selected AI and semiconductors as priority technology collaboration areas for 2025, and advanced materials and nanomaterials for 2026, with plans to fund an estimated ₩27 billion in joint R&D. It is anticipated that technological cooperation among industry, academia, and research institutes in Korea and Spain will create opportunities for both countries to swiftly apply innovative technologies in various sectors to further enhance their industrial competitiveness. Following the Joint Committee, the two sides plan to continue their bilateral technological exchanges through the Korea Eureka Day, scheduled for April in Germany this in 2025, and support promising joint projects. date2025-03-05

Minister Ahn meets U.S. Senator Mark Kelly

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met U.S. Senator Mark Kelly on February 28 (local time) in Washington D.C. and discussed measures for stronger cooperation in the shipbuilding industry. date2025-03-04

KNCP to Proceed with Mediation in Complaint Against Oxy Reckitt Benckiser

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) held this year’s first Korean National Contact Point (KNCP) Committee meeting on February 25, 2025, and announced the results of its initial assessments of two complaints filed under the OECD Guidelines for Multinational Enterprises.  Concerning the complaint filed by a UK non-governmental organization (NGO) against Korean exporter Company “A,” the KNCP determined that there was little need to proceed to mediation and decided to dismiss the complaint, thereby closing the case. With regard to the complaint filed against humidifier disinfectant manufacturer and seller Oxy Reckitt Benckiser, the KNCP decided to proceed with mediation. The complaint was filed by two Korean consumers alleging violations related to human rights and consumer protection. After reviewing the statements and materials submitted, the KNCP determined that it is necessary to arbitrate the dialogue between concerned parties and initiate the mediation process. Going forward, the KNCP plans to form a mediation committee composed of private sector KNCP members and proceed with mediation on the basis of relevant parties’ voluntary participation. Should the parties reach an agreement, the KNCP will announce the mediation outcomes. Should the parties fail to reach an agreement, the KNCP will issue a final statement containing its recommendation and close the case. date2025-02-25

Korea’s retail industry advances 11.7% in January

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s retail industry grew 11.7 percent year-on-year in the month of January 2025, with offline and online sales advancing 8.8 percent and 14.6 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, hypermarket sales jumped 16.1 percent as Seollal holiday demand spurred sales across all categories, centering on food products (up 19.1 percent), home appliances/culture (up 7.5 percent), and home/living (up 8.2 percent). Department store sales climbed 10.3 percent on the backs of Seollal gift purchases, led by foreign designer labels (up 17.3 percent), food products (up 24.9 percent), and kids/sports (up 9.3 percent). Convenience store sales inched up 1.7 percent, with food products (up 2.5 percent) and nonfood products (up 0.9 percent) both increasing, whereas instant food products (down 5.0 percent) shrank for the first time since last year’s Chuseok holidays in September 2024. SSM operators rose 4.8 percent as food products (up 5.1 percent) and nonfood products (up 1.4 percent) both grew, thanks to higher demand for home dining and kitchenware during the Seollal holidays. Online retail sales (up 14.6 percent) enjoyed robust demand for food products (up 19.6 percent), cosmetics (up 7.7 percent), and service/other (up 73.3 percent), fueled by purchases of Seollal holiday gift and e-coupons, rental services for water purifiers and other items, as well as the expansion of online platforms’ delivery services. Meanwhile, sales of fashion/clothing (down 12.8 percent), sports (down 11.9 percent), and home appliances/electronics (down 6.2 percent) continued to slow.   date2025-02-25

Minister Ahn meets Dutch Minister of Economic Affairs

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met Dutch Minister of Economic Affairs Dirk Beljaarts on February 20 in Seoul for discussions on measures to strengthen Korea-Netherlands industrial cooperation as well as agendas like economic security, supply chains, and semiconductors. date2025-02-21

Korea’s Top 10 Manufacturing Industries to Invest $82 Billion in 2025

Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy (MOTIE) held the fifth Industrial Investment Strategy meeting in Seoul on February 12, 2025. Representatives from Korea’s 10 major manufacturing sectors attended the meeting, along with the Korea Chamber of Commerce and Industry (KCCI), and the Korea Institute for Industrial Economics & Trade (KIET). They reviewed the industries’ investment performance in 2024, investment plans for 2025, and measures to stimulate domestic investment by sector. Korea’s top 10 manufacturing industries invested a combined KRW 114 trillion in 2024, surpassing their initial target of KRW 110 trillion. Despite challenging conditions, including financing costs caused by higher-for-longer interest rates and rising import prices due to high exchange rates, semiconductors and automobiles led the overall investment performance on an upward trajectory. Korea’s 10 leading manufacturing industries plan to invest approximately KRW 119 trillion in 2025, seven percent higher than the KRW 110 trillion that had been planned for 2024. that the continued increase in planned investment by Korea’s major manufacturing sectors is particularly significant  amid intensifying global tariff war and other external and internal uncertainties. The semiconductor industry plans to raise investments in advanced memory chips in response to the growing worldwide demand for artificial intelligence (AI), while the automobile industry is aiming to expand investment for its EV transition. Investments in secondary battery and steel, however, are expected to decline due to slowing demand and oversupply. At the meeting, companies called for an extension of the investment tax credit, which failed to pass the National Assembly in 2024, as well as more drastic financial support  and active government measures to minimize trade uncertainties. Noting the importance of domestic investment in job creation and overcoming supply chain uncertainties, Minister Ahn stated that full support will be given to foster a more favorable environment for businesses, allowing Korean companies to steadily increase domestic investments. date2025-02-12

Korea and Czech Republic Strengthen Standards Cooperation in Battery, Hydrogen, and AI

The Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) Korea launched the Korea-Czech Republic Standards Cooperation Workshop in Seoul on February 11, 2025. The event brought together approximately 50 private standards experts and government officials from the two countries. The Workshop followed an agreement signed in October 2024 in Edinburgh to implement standards cooperation and to support the outcomes of the bilateral summit held last September.  Korean and Czech standards experts shared the latest technology and standardization trends in battery, hydrogen, and artificial intelligence (AI) and exchanged views on standards information and joint standards development research for bilateral standards cooperation. On the margins of the event, the Korean Standards Association (KSA) and the Czechoslovak Association of Standardization (CAS) signed a standards information distribution license agreement to promote support for Korean and Czech exporting businesses’ obtaining of standards approval for mutual market entry. date2025-02-11

Korea’s annual retail sales grow 8.2% in 2024

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that Korea’s annual retail sales for 2024 rose 8.2 percent year-on-year. Offline and online sales increased 2.0 percent and 15.0 percent, respectively. MOTIE's 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, hypermarket sales decreased 0.8 percent despite the growth of food items (up 2.3 percent) as demand for nonfood categories dropped 7.9 percent.  SSM operators advanced 4.6 percent through their growing number of stores, increasing demand for home dining as well as trends for smaller purchases and shopping local. Convenience store sales (up 4.3 percent) achieved consistent growth throughout the year and even surpassed department store sales at one point but finished 0.1 percentage point short of the annual department store sales share in 2024, as department stores (up 1.4 percent) enjoyed a final spurt from the special seasonal demand in December.  In spite of domestic issues and overseas platforms’ active penetration, online retail sales in 2024 logged growth on the backs of robust demand for food products (up 22.1 percent) and services (up 58.3 percent) such as e-coupons, food deliveries, performances, and travel packages. With the move toward online shopping channels gaining stronger momentum, the percentage point gap between online and offline sales reached 13 percentage points in 2024, a steep climb from the 1.5 percentage point gap of 2023. By category, home appliances/culture (down 0.9 percentage points), fashion/miscellaneous (down 1.2 percentage points), and kids/sports (down 0.6 percentage points) contracted in retail sales share in 2024 owing to receding consumer confidence and the impact from overseas direct purchases (ODP), while food products (up 0.7 percentage points) and service/other (up 2.2 percentage points) expanded. For the month of December, Korea’s retail sales gained 8.9 percent overall as offline sales fell 0.3 percent year-on-year and online sales surged 18.8 percent.   date2025-01-23