Ministry of Trade Industry and Resources

Minister Kim Chairs the Petroleum Market Inspection Meeting

On Friday, March 13, 2026, Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired the Petroleum Market Inspection Meeting at Korea Trade Insurance Corporation (K-SURE) in Jongno-gu, Seoul.  The meeting was attended by officials from the Korea National Oil Corporation (KNOC), the Korea Petroleum Association, refiners including GS Caltex, S-OIL, SK Innovation, and HD Hyundai Oilbank, the Korea Petroleum Quality & Distribution Authority (K-Petro), and the Korea Oil Station Association (KOSA). After delivering opening remarks, Minister Kim discussed domestic and international oil price trends, response measures, and recent petroleum supply and pricing trends at refiners and gas stations. “As refiners’ supply prices stabilize under the maximum price system, gas stations should also help keep retail prices stable so that consumers can benefit,” Minister Kim said.    date2026-03-13

Korea Steps Up Efforts to Stabilize Petroleum Product Prices

The Korean government will introduce policy measures to curb the recent spike in domestic petroleum prices driven by developments in the Middle East and to limit sharp price fluctuations in the event of a supply disruption. To that end, following consultations with relevant ministries, the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will implement a price ceiling system for petroleum products. The price ceilings will apply to refiners’ supply prices charged to gas stations and dealers, not to retail prices at gas stations. Effective from 12:00 a.m. on March 13 through March 26, 2026, the initial ceilings will be KRW 1,724 per liter for gasoline, KRW 1,713 for diesel, and KRW 1,320 for kerosene. These figures are KRW 109, KRW 218, and KRW 408 lower, respectively, than the average supply prices reported by refiners on March 11, 2026. The ministry plans to adjust the price ceilings on March 27, 2026, to reflect domestic and international oil market conditions. For the adjustment, the initial tax-exclusive price ceilings will serve as the base prices, and taxes will be added after applying the rate of increase in international petroleum product prices over the relevant period is applied. The rate of increase will be calculated based on the price indicators published by Petronet by the Korea National Oil Corporation. To facilitate the prompt implementation of the price ceiling system for petroleum products, MOTIR will work with relevant ministries to finalize detailed standards for post-implementation settlement procedures with refiners to strengthen monitoring and oversight of gas stations. The ministry will also continue to review support measures, including energy vouchers, for energy-vulnerable groups such as self-employed business owners and farmers. date2026-03-13

Vice Minister Moon Attends the Opening Ceremony of InterBattery 2026

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the opening ceremony of InterBattery 2026 at COEX in Seoul on March 11, 2026. During the event, Vice Minister Moon delivered welcoming remarks and took part in a ribbon-cutting ceremony to mark the opening of the exhibition. The event was attended by National Assembly members Lee Cheol-gyu and Kim Won-I; Uhm Ki-cheon, Chairman of the Korea Battery Industry Association (K-BIA); Choi Ik-kyu, Executive Vice President of Samsung SDI, Kim Woo-seop; Executive Vice President of LG Energy Solution; as well as heads of organizing institutions and representatives of participating companies.  Vice Minister Moon described batteries as the “heart of advanced industries” and said the government would continue to support the industry so that K-batteries can maintain their leadership. He added that the government and industry would work as one team to respond to developments in R&D and major countries’ trade policies. date2026-03-12

Advanced Semiconductor Materials Production Expands Beyond the Capital Region

Kim Seong-yeol, Deputy Minister for Industry and Growth at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the completion ceremony for JK Materials Sejong Campus on March 12, 2026, where he toured the company’s semiconductor materials production facilities and heard the views of industry representatives. The new campus will establish a production base in Sejong for key materials, including raw materials used in photoresists used in semiconductor lithography, advanced packaging materials for HBM, and OLED display films. The move is expected to help broaden Korea’s semiconductor industry beyond the Seoul metropolitan area and strengthen competitiveness across the broader ecosystem. Driven by AI-driven demand, the global semiconductor market is expected to surpass USD 1 trillion for the first time this year, with the market for semiconductor materials, parts, and equipment also set to expand. The government will help channel the current boom in memory chips, which are posting record earnings, into broader growth across the materials, parts, and equipment sector. To that end, MOTIR will back the establishment of a production-linked Trinity Fab for demonstration testing, develop investment incentives under the Special Act on Semiconductors, and step up support for regional semiconductor clusters and workforce development tailored to local industry needs. In his congratulatory remarks, Deputy Minister Kim noted that “Korea’s world-class semiconductor manufacturing capabilities can help accelerate the localization of semiconductor materials, parts, and equipment.” He added that “the government will focus on strengthening the supplier ecosystem, expanding demand-linked R&D, improving the investment environment, and training future semiconductor talent.” date2026-03-12

InterBattery 2026 Opens in Seoul, Showcasing the Future of the Global Battery Industry

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will host InterBattery 2026, Korea’s largest international battery exhibition, at COEX in Seoul from March 11 to 13, 2026. Now in its 14th year, the event will bring together 667 companies from Korea and abroad across the battery value chain—including Korea’s three major battery manufacturers as well as materials, parts, and equipment firms—to showcase the latest technologies and products. The 2026 exhibition will be attended by governments, research institutes, and companies from 14 countries, including the United States, Australia, Canada, Germany, China, Japan, and the Netherlands, further strengthening the event’s status as a global platform for cooperation and exchange. The program will also include discussions on Korea–U.S. cooperation on battery technologies for defense applications, business networking among Korean and German battery researchers, and supply-chain cooperation with Australia on critical minerals. Amid short-term market changes in the battery industry, including slowing demand for electric vehicles, the exhibition will highlight energy storage systems (ESS) as a key alternative, with ESS growing rapidly alongside the expansion of renewable energy and the AI transition. Participants will discuss strategies for expanding ESS businesses and related technology trends. They will also examine market strategies to respond to changes in the global trade and regulatory environment, including U.S. tariff policies and the EU Battery Regulation. The event will also highlight next-generation technologies expected to reshape the industry, including all-solid-state batteries, sodium batteries, and silicon anode materials. It will also spotlight key safety technologies, including thermal runaway mitigation, structural design, and materials innovation. In addition, the exhibition will explore battery applications in emerging industries such as defense, robotics, and urban air mobility (UAM), underscoring the role of batteries as a driver of new growth beyond their function as components. This year’s event will go beyond technology displays to offer programs that strengthen business linkages across the battery industry. A procurement consultation program featuring purchasing managers from Korea’s three battery makers will help materials, parts, and equipment firms gain access to battery supply chains. IR pitching sessions with invited venture capital firms will also give startups opportunities to attract investment. In addition, a battery job fair will provide an all-in-one employment support package, including intensive one-on-one job mentoring. At the opening ceremony, Vice Minister Moon Shin-hak of MOTIR described batteries as the “heart of advanced industries,” noting that “the industry is facing both challenges—such as slower EV demand and uncertainty in the global trade environment—and new opportunities from expanding demand and supply chain realignment,” and added that “the government will continue to support the industry so that K-batteries can maintain their leadership.” He stated, “We will stimulate downstream demand by expanding the ESS market and introducing a battery leasing system, while also pursuing a production tax credit for the battery sector to strengthen the domestic production base. In addition, we will build a battery triangle belt spanning critical minerals, materials, and mother factories to help position Korea as a global hub for battery manufacturing.” Vice Minister Moon also said, “The government and industry will work as one team in responding to changes in the R&D landscape and shifts in major countries’ trade policies.” date2026-03-11

MOTIR Expands Global R&D Program to Support Manufacturing AX and Industrial Innovation

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced on March 9, 2026, that it had released the 2026 comprehensive implementation plan for its International Industrial Technology Cooperation Program, which supports joint R&D between Korean industry, academia, and research institutes and leading overseas research organizations. To accelerate innovation by Korean companies, help them secure advanced technologies from abroad, and support their entry into overseas markets, MOTIR increased the 2026 budget for the program by KRW 23.3 billion, or 11 percent, from KRW 209.9 billion in 2025. The 2026 program will be carried out through four programs: establishing global industrial technology cooperation centers (KRW 127.4 billion); international joint technology development (KRW 91.4 billion); global industrial technology linkages (KRW 7.5 billion); and building international cooperation infrastructure (KRW 5.9 billion). Under the global industrial technology cooperation centers program, MOTIR will establish cooperation hubs at overseas research institutions with world-class capabilities. The program will provide Korean companies with stable, long-term cooperation channels and support joint R&D to help secure next-generation industrial core technologies. It will support mid- to long-term, large-scale joint R&D projects for up to five years, with up to KRW 10 billion available per project. In 2026, MOTIR plans to designate one new cooperation center and begin supporting 19 research projects. In particular, MOTIR will launch a dedicated M.AX program in 2026 to accelerate the AI transformation of Korea’s manufacturing sector as Korea moves to become a global leader in manufacturing AX by 2030. The international joint technology development program will support three types of projects: bilateral funding based on agreements between the Korean government and partner governments; multilateral funding involving multiple countries through global joint research platforms such as EUREKA; and strategic technology projects linked to the procurement needs of global companies. Under the global industrial technology linkage program, MOTIR will also support joint research between foreign-invested companies and Korean institutions to facilitate the adoption of leading overseas technologies in Korea. In addition, MOTIR will support technology cooperation forums with major partner countries and provide consulting for Korean companies by drawing on overseas Korean engineers and scientists under the international cooperation infrastructure program. Further details on the integrated notice are available on the MOTIR website (www.motir.go.kr) and the Korea Institute for Advancement of Technology (KIAT) website (www.kiat.or.kr). MOTIR will also hold briefing sessions in the Chungcheong, Honam, Dongnam-Daegyeong, and Seoul metropolitan regions for prospective applicants. date2026-03-09

Minister JK Kim Attends NextStar Energy Plant Completion Ceremony

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the completion ceremony for LG Energy Solution’s NextStar Energy battery plant in Windsor, Ontario, on March 5, 2026.  The ceremony was attended by LG Energy Solution CEO Kim Dong-myung; Canada’s Minister of Industry Mélanie Joly; Doug Ford, Premier of Ontario; and Drew Dilkens, Mayor of Windsor.LG Energy Solution CEO Kim Dong-myung; Canada’s Minister of Industry Mélanie Joly; Doug Ford, Premier of Ontario; Drew Dilkens, Mayor of Windsor; and other officials. Minister Kim noted, “It is especially meaningful that the NextStar Energy plant—now a symbol and milestone of bilateral industrial cooperation—had been built in Ontario, one of the provinces that sent troops to help defend Korea’s freedom and protect its people.” date2026-03-06

MOTIR Maps Out the Future of K-Humanoid Robotics

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held an AI Robot M.AX Alliance meeting on March 5, 2026, at the Korea Chamber of Commerce and Industry (KCCI). Chaired by Kim Sung-yeol, Deputy Minister for Industry and Growth, the meeting brought together industry and research stakeholders in humanoid robotics—including Hyundai Motor Company, AeiROBOT, Robros, Yuil Robotics, Tesollo, Higen RNM, Seoul National University, the Korea Planning and Evaluation Institute of Industrial Technology (KEIT), and the Korea Electronics Technology Institute (KETI)—to discuss measures to foster Korea’s humanoid robotics industry. With industrial deployment of humanoid robots in sight, the global humanoid robotics market is expanding rapidly. According to global research firm Counterpoint, worldwide humanoid robot sales surpassed USD 500 million for the first time in 2025, and are projected to reach USD 4.4 billion next year. Competition among global companies seeking to capture the emerging market is also intensifying. NVIDIA, traditionally known for AI semiconductors, is expanding into humanoid robot learning and simulation platforms, while Chinese firms such as Unitree are launching mass-produced humanoid robots with strong price competitiveness. Amid the global competition, Korea aims to become a top-three global player through an ecosystem-wide collaboration centered on the AI Robot M.AX Alliance. The Alliance has facilitated joint development projects and technology exchanges among companies, generating a range of collaborative outcomes. At CES 2026, Alliance participants showcased the results of their cooperation by demonstrating AI-enabled humanoid robots performing industrial tasks. Today’s meeting brought together key players across the humanoid robotics ecosystem—including platform developers, AI model developers, and component manufacturers—to assess the current state of Korea’s humanoid robotics industry and discuss policy directions to position Korea as a leading country in the field. At the meeting, MOTIR and participating organizations discussed a range of policy measures, including securing and leveraging training data for humanoid robots; strengthening domestic capabilities in key components such as actuators and robotic hands; expanding field demonstrations in industrial settings; reinforcing industry–academia–research collaboration; and improving regulations to promote the broader adoption of robotics. Deputy Minister Kim stated, “As proven by the global response to Atlas at CES 2026, humanoid robotics will become a new arena of competition among global tech companies.” He added, “MOTIR will boost support for R&D and demonstration projects under the Alliance to stay competitive in the global humanoid robotics market.” He also noted, “Based on today’s discussions, we will work with relevant ministries and the Presidential Council on National Artificial Intelligence Strategy to draw up measures to strengthen the humanoid robotics ecosystem.” date2026-03-05

MOTIR Launches Chemical Industry Innovation Alliance to Back the Petrochemical Sector’s Move Up the Value Chain

The Chemical Industry Innovation Alliance (the “Alliance”), launched to drive the chemical industry’s transition toward higher value-added and cleaner production, is now fully operational. On March 4, 2026, the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the Alliance’s general meeting at the Korea Chamber of Commerce and Industry (KCCI), with around 150 participants from across the chemical industry ecosystem in attendance, including petrochemical companies, small and medium-sized enterprises (SMEs), middle market enterprises (MMEs), demand-side companies, and research institutes. The meeting marked the start of the Alliance’s full-scale operations as the implementing platform for the “K-Chemical Next Generation Technology Innovation Roadmap 2030,” unveiled in late 2025 to support the petrochemical industry’s shift toward higher-value products amid ongoing restructuring. Participants discussed the Alliance’s operating plan, the recent trends in large-scale R&D programs, R&D investment priorities among key demand-side companies, and a strategy for developing an R&D agenda under the Roadmap that spans the entire chemical value chain—from feedstocks to materials and applications. During the meeting, major demand-side companies presented their R&D investment priorities to help identify a flagship project for the initiative. These inputs will serve as practical guideposts, helping chemical companies pursuing higher-value and cleaner production to reduce uncertainty by incorporating market demand from the planning stage and to develop a demand-driven technology strategy. Demand-side companies across key sectors—including Samsung Electronics, LG Energy Solution, Taihan Cable & Solution, and HD Hyundai Heavy Industries—also shared their R&D strategies, which are expected to help chemical companies develop flagship projects that integrate the entire value chain from feedstocks to materials and applications, strengthen the technological capabilities of SMEs and MMEs in the materials and applications sectors, and drive innovation across the industry. To drive meaningful outcomes in the private sector, the government announced that it is preparing a large-scale R&D project under the Roadmap to support the transition toward higher value-added and cleaner production. Song Hyeon-ju, Director General for Industrial Supply Chain Policy of MOTIR, stated that “while last year’s launch ceremony set out the goals for chemical industry innovation, today’s meeting marks the first step toward implementation.” She added, “the government will provide large-scale R&D support to underpin the transition toward higher value-added and cleaner production if petrochemical companies move swiftly to restructure through rigorous self-help efforts.” She also said that MOTIR would “ensure strong policy support so that the flagship projects developed through the Alliance can become a new engine of growth for Korea’s chemical industry.” date2026-03-04

Meeting with Korean Nuclear Companies Operating in the Philippines

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired a meeting with Korean nuclear power companies operating in the Philippines at the SMX Convention Center in Manila on March 4, 2026, during President Lee Jae Myung’s state visit to the Philippines.  The meeting was attended by representatives from Korea Hydro & Nuclear Power (KHNP), Doosan Enerbility, Daewoo E&C, Samsung C&T, and Hyundai Engineering & Construction. The meeting reviewed the current status of Korean nuclear companies’ activities in the Philippines and discussed their future plans for participation in local nuclear power projects. date2026-03-04