Ministry of Trade Industry and Resources

Minister Kim Visits Central Region to Discuss Advanced Industries and Region-Led M.AX

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited the central region of Korea on April 17, 2026, as part of the ministry’s on-site outreach under the “Five Mega-Regions and Three Special Self-Governing Provinces” initiative. The visit was held despite ongoing emergency economic response efforts linked to the war in the Middle East, underscoring MOTIR’s commitment to region-led growth through regular communication with local stakeholders. The visit focused on ways to strengthen the secondary battery and display industries clustered in the central region and to step up region-led Manufacturing AI Transformation (M.AX) through industrial complexes. It also marked the first Industrial Complex AX Subcommittee meeting since its launch on February 26 as the 11th subcommittee under the M.AX Alliance. Breakfast Roundtable with Battery and Display Companies Minister Kim first met with major battery and display companies and industry associations in the central region to review industry conditions and hear companies’ concerns. Participants discussed key issues facing the industry, including investment, workforce, and supply chains, against a backdrop of intensifying global competition and rising external uncertainty. They also discussed policy options to expand downstream demand—including battery leasing and R&D initiatives led by anchor buyers—and to strengthen win-win cooperation across the industrial ecosystem. Minister Kim said, “Batteries and displays are foundational industries for mobility, energy storage systems (ESS), robotics, and many other sectors. The government will strengthen the industrial ecosystem and expand M.AX to secure a clear edge in global competition.” First Industrial Complex AX Subcommittee Meeting Minister Kim then chaired the first meeting of the Industrial Complex AX Subcommittee, where participants discussed the subcommittee’s operating plan and ways to build M.AX clusters through the 10 MINI Alliances. The meeting also marked the start of a full-fledged, field-based foundation for wider adoption, bringing together local industry, academia, and research institutions. Minister Kim said, “We will build M.AX ecosystems in key industrial complexes across the five mega-regions and three special self-governing provinces so that they fully serve as Korea’s growth engines, and the benefits of AI transformation reach industries across the regions.” In addition, MOTIR will hold a two-day Industrial Complex Policy Hackathon in Yesan, Chungcheongnam-do, on April 17–18, 2026, with direct participation from young workers to develop ideas for more vibrant industrial complexes. The hackathon was proposed during a January 22 roundtable with young workers held during MOTIR’s regional visit to Jeollabuk-do. It will serve as a starting point for turning young workers’ ideas into policy to build more vibrant industrial complexes. About 20 officials from MOTIR’s Regional Economic Policy Bureau will join the full two-day program to help ensure those ideas move beyond suggestions and into actual policy. date2026-04-17

Minister JK Kim Visits SP Samhwa

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited SP Samhwa, a manufacturer of paints for shipbuilding, automobiles and housing, in the Banwol-Sihwa Industrial Complex in Ansan, Gyeonggi Province, on April 13, 2026. During the visit, company officials briefed him on operations and business challenges, and he reviewed production and supply conditions for essential petrochemical items used in everyday products and key industries. “Since April 10, 2026, the government has streamlined import registration procedures under the Act on the Registration and Evaluation, etc. of Chemical Substances, allowing faster imports of raw materials. We ask the industry to cooperate in stabilizing paint supply and prices,” Minister Kim said. date2026-04-14

Minister JK Kim Visits Lotte Packaging Solutions

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited Lotte Packaging Solutions, a manufacturer of packaging materials for instant noodles, in the Banwol-Sihwa Industrial Complex in Ansan, Gyeonggi Province, on April 13, 2026. During the visit, company officials briefed him on operations and business challenges, and he reviewed production and supply conditions for essential petrochemical items used in everyday products and key industries. “To prevent shortages of food packaging and other everyday-use products, we will closely monitor packaging-material supply through a pan-government task force involving the Ministry of Trade, Industry and Resources (MOTIR), the Ministry of SMEs and Startups (MSS), and the Ministry of Food and Drug Safety (MFDS),” Minister Kim said. date2026-04-14

Minister JK Kim Visits Daeduck Electronics

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited Daeduck Electronics, a producer of semiconductor packaging materials (PCB substrates), in the Banwol-Sihwa Industrial Complex in Ansan, Gyeonggi Province, on April 13, 2026. During the visit, company officials briefed him on operations and business challenges, and he reviewed production and supply conditions for essential petrochemical items used in everyday products and key industries. “We will maintain stable supplies of petrochemical products so that there is no disruption not only to daily necessities but also to production in national key industries such as semiconductors,” Minister Kim said. date2026-04-14

Minister JK Kim Visits AD CHEMTECH

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited AD CHEMTECH, a manufacturer of packaging materials for syringes and IV solutions, at the Banwol-Sihwa Industrial Complex in Ansan, Gyeonggi Province, on April 13, 2026.    During the visit, company officials briefed him on operations and business challenges, and he reviewed production and supply conditions for essential petrochemical items used in everyday products and key industries. “MOTIR, working with relevant ministries and industry, resolved supply concerns over packaging materials for IV solutions and syringes. We will continue to manage supplies thoroughly so that there is no disruption in health and medical products essential to public health,” Minister Kim said. date2026-04-14

MOTIR Approves 8 Business Restructuring Plans in Semiconductors and Batteries

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that it approved eight business restructuring plans, including those submitted by Seoul Semiconductor and UTI, at the 51st meeting of the Business Restructuring Review Committee. The approved companies plan to invest a combined KRW 249.6 billion and hire 402 people over the next five years as they implement the plans. Among the approved companies, Seoul Semiconductor, a display components maker, will enter the AR glasses display module market based on its core micro-LED technologies. UTI will use its high-precision glassmaking technologies, including ultrathin glass, to move into glass substrates for semiconductor packaging. GSR Tech (Geo Seong Recycling Tech) will extract and recycle lithium from refractories discarded after use in battery cathode material production and supply raw materials for cathodes, moving beyond its current business of installing refractories in steel blast furnaces. Kunwoo Metal will use an AI-based autonomous manufacturing model to upgrade its production process and develop annular gears for electric vehicles, leveraging its manufacturing expertise in bearings and transmission components for internal combustion engine vehicles. Kim Ju-hoon, the Committee’s private-sector chair, commended the companies for their efforts to enter new markets and seek new sources of growth despite difficult conditions at home and abroad, and said the Committee will continue to support business restructuring. A MOTIR official said, “Business restructuring gives companies a fresh opportunity for growth and remains a key tool for upgrading Korea’s industrial structure. MOTIR will strengthen support measures, including institutional improvements, to help facilitate business restructuring.” date2026-04-14

MOTIR Minister Conducts a Series of On-Site Inspections of Petrochemical Production Sites

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited four companies on April 13, 2026, to inspect the production and supply conditions of essential petrochemical products directly related to public health, daily necessities, and key industries. The companies use petrochemical materials to manufacture packaging for syringes and IV solutions, food packaging, paint, and semiconductor components. At AD CHEMTECH, Minister Kim explained how MOTIR, in cooperation with relevant ministries and petrochemical companies, resolved potential supply disruptions affecting packaging materials for IV solutions and syringes. He said the government would ensure that supplies of health and medical products essential to public health remain uninterrupted. At Lotte Packaging Solutions, Minister Kim said the government would closely monitor the supply of packaging materials through an interagency task force comprising MOTIR, the Ministry of SMEs and Startups (MSS), and the Ministry of Food and Drug Safety (MFDS) to prevent shortages affecting food packaging and other everyday consumer products. At SP Samhwa, Minister Kim noted that the government had streamlined import registration procedures under the Act on the Registration and Evaluation, etc. of Chemical Substances on April 10, 2026, thereby facilitating faster imports of raw materials. He also called on the industry to cooperate in stabilizing the supply and prices of paint. At Daeduck Electronics, Minister Kim said the government would ensure a stable supply of petrochemical products so that the production of daily necessities and operations of key national industries are not disrupted. Minister Kim stressed, “We are giving top priority to preventing even a single day of disruption in the supply of health and medical products, daily necessities, and inputs for key national industries. MOTIR and the relevant ministries remain in close coordination and are prepared to take immediate action whenever necessary.” MOTIR has established a task force of approximately 40 members to manage the supply and demand of key petrochemical items and is monitoring daily inventory levels and supply trends for each item. The ministry also plans to support rapid import of naphtha through an import cost-offset program included in the supplementary budget passed by the National Assembly at a plenary session on April 10, 2026, in response to war in Iran In addition, MOTIR will introduce a regulation prohibiting the hoarding of petrochemical products and feedstocks, and authorizing prompt and appropriate supply-and-demand adjustment measures in the event of disruptions. date2026-04-13

Joint Review Meeting on Revised U.S. Section 232 Tariffs on Steel and Aluminum

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) chaired a public-private joint review meeting on revisions to U.S. tariffs under Section 232 of the Trade Expansion Act covering steel, aluminum, copper and derivative products at the Korea Chamber of Commerce and Industry (KCCI) in Seoul on April 9, 2026. The meeting was attended by representatives from industry associations and related organizations, including the Korea Iron and Steel Association (KOSA), the Korea Nonferrous Metal Association (KONMA), the Korea Association of Machinery Industry (KOAMI), the Korea International Trade Association (KITA) and the Korea Trade-Investment Promotion Agency (KOTRA). At the meeting, Trade Minister Yeo noted that the latest revisions reflect, at least in part, concerns raised by the government and industry. He stated, “While the overall administrative burden is expected to ease, some products may still be affected and further changes remain possible,” imploring participants to stay alert, continue their joint response, and minimize the burden on Korean companies.  date2026-04-10

MOTIR Reviews Measures to Help Korean Companies Respond to Revised U.S. Section 232 Tariffs on Steel and Aluminum

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Trade Minister Yeo Han-koo chaired a public-private joint review meeting at the Korea Chamber of Commerce and Industry (KCCI) in Seoul on April 9, 2026, on revisions to U.S. tariffs under Section 232 of the Trade Expansion Act covering steel, aluminum, copper and derivative products. The meeting followed the U.S. government’s revision of how Section 232 tariffs are applied to steel and other covered products for goods cleared from 12:01 a.m. local time on April 6, 2026. It was held to explain the changes in detail, assess sector-specific implications, hear industry concerns, and discuss response measures for Korean companies, as confusion in the industry has grown since the revision took effect. At the meeting, Trade Minister Yeo said, “The latest revisions reflect, at least in part, concerns the government and industry have raised through high-level consultations, written communications and related procedures involving additional derivative products. While the overall administrative burden is expected to ease, some products may still be affected. Further changes also remain possible, as the U.S. Department of Commerce will conduct an additional review within 90 days of implementation. We therefore need to stay alert and continue our response.” He added, “We will carefully review the concerns raised today and convey them in consultations with the United States and through other channels. We will also take steps to minimize the burden on Korean companies, including by issuing a call for applications in April for an interest subsidy program for companies in the steel, aluminum, copper and derivative-product sectors to help reduce trade uncertainty and support business stability.” Participants said that although the tariff regime has been streamlined, compliance remains difficult in practice because the products covered and the criteria for applying the tariffs have changed. They noted that small and medium-sized enterprises and mid-sized companies could face unexpected disadvantages if they do not fully understand the revised rules. They also pointed to significant uncertainty over how the rules will be applied and enforced, given the rapid pace of recent changes in trade policy. MOTIR said it will strengthen information services and support for companies to minimize confusion. The ministry has already enabled companies to check the HS codes covered by the revised rules and the applicable tariff rates through the Korea Trade-Investment Promotion Agency (KOTRA)’s Trade Barrier 119 website. On April 17, 2026, KCCI will host a practical briefing on the key changes and response measures for companies, and similar sessions will later be held across the country. date2026-04-09

MOTIR Selects 10 Middle Market Companies for World Class Plus Project

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced on April 6, 2026, that it had selected 10 new projects under its World Class Plus Project program and two new projects under its technology innovation challenge program for middle market enterprises and public research institutes to help strengthen the technological competitiveness of Korea’s middle market companies. The World Class Plus Project supports middle market companies with the potential to become world-class firms, from technology development to overseas market entry. From 2011 through 2025, a total of 376 companies were selected under the program and have grown into key exporters that continue to play a leading role in Korea’s exports. In 2026, MOTIR selected 10 companies across sectors such as semiconductors and displays, future mobility, bioindustry, and energy storage systems (ESS). The ministry will support them in securing a technological edge in advanced industries and an early foothold in global markets in future-growth sectors such as bioindustry and ESS. Starting this year, the funding cap has been raised to up to KRW 4.0 billion over four years for companies in the capital region and up to KRW 5.0 billion for regional companies. The technology innovation challenge program links middle market companies with public research institutes to tackle technical hurdles in commercialization in new growth sectors. Under the program, two middle market companies will work with the Electronics and Telecommunications Research Institute (ETRI) and the Korea Institute of Industrial Technology (KITECH) to develop core technologies in construction machinery and autonomous ships. Lee Gyu-bong, Director General for Middle Market Enterprise Policy at MOTIR, stressed that technological innovation is more important than ever for Korean companies to sustain growth amid rising global uncertainty. He added that MOTIR will continue to support Korea’s middle market companies as they build on their technological strengths to compete in global markets. date2026-04-06