Ministry of Trade Industry and Resources

Major Retailer Sales Rise 4.5 Percent in September

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that total sales at 26 major retailers (15 offline retailers and 11 online retailers) rose 4.5 percent year-on-year in September 2026, with offline sales up 5.1 percent and online sales up 4.0 percent. With Chuseok falling earlier than last year, sales of holiday gift sets and items for ancestral rites remained strong during the holiday period. Sales growth was led by food (up 6.3 percent) and the services/other category (up 7.3 percent), including grocery shopping services. Offline sales increased across all retail formats, including hypermarkets (up 4.0 percent), department stores (up 8.4 percent), convenience stores (up 2.9 percent), and super supermarkets (SSMs, up 5.0 percent). Hypermarket sales grew for a second consecutive month, led by food (up 4.3 percent), home appliances and toys (up 5.8 percent), and clothing (up 11.2 percent). The earlier Chuseok holiday boosted sales of holiday foods, dishes for ancestral rites, and gifts. The number of transactions also edged up 0.5 percent after six consecutive months of declines. Department store sales of food, including holiday gift sets, rose 13.0 percent. Clothing sales also grew as more consumers shopped for autumn apparel, with women's casual wear up 15.2 percent and men's clothing up 8.7 percent. Convenience store sales of processed food rose 5.9 percent as more single-person households sought convenience foods during the holiday period. At SSMs, demand for items for Chuseok ancestral rites lifted food sales, led by agricultural, livestock, and fishery products (up 10.0 percent). Online food sales continued to grow, rising 6.7 percent, driven by holiday demand. Sales in the services/other category (up 10.6 percent) also increased as demand for grocery shopping services rose. In September 2026, online retailers accounted for 59.5 percent of total sales, followed by convenience stores (14.9 percent), department stores (14.4 percent), hypermarkets (9.1 percent), and SSMs (2.1 percent). date2026-10-28

MOTIR Showcases the Investment Appeal of Companies Undergoing Business Restructuring

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Korea Productivity Center (KPC) jointly held an investment briefing for companies with approved business restructuring plans in Seoul on October 21, 2026. The event was the first of two sessions of the 2026 investment briefing for these companies, with the second scheduled for October 28, 2026. Since last year, MOTIR has offered consulting services on attracting investment and held investment briefings for companies with approved business restructuring plans. The programs help companies attract investment by presenting their competitive strengths and growth strategies to investors based on the projects they pursue after their restructuring plans are approved. This year’s briefings feature 15 companies that received consulting services on attracting investment. Seven will present to investment firms at the October 21 session and eight at the October 28 session. A preliminary survey found that substantially more investment firms expressed interest in participating than last year, further improving the approved companies’ prospects of attracting investment.  The participating companies’ main projects are outlined below. Daewon F&C has developed equipment that uses ceramic materials to transfer semiconductor wafers. The equipment removes static electricity during semiconductor production to improve yields. Nine Labs offers liquid cooling solutions that substantially reduce electricity consumption at AI data centers, promoting advances in AI. RoboLife has developed a lightweight mobility assistance robot that can be attached to and detached from a manual wheelchair. By simplifying its components, the company has lowered the price to encourage wider adoption. Arion has developed and completed demonstration testing of a drone platform that enables autonomous operation and integrated control of unmanned vehicles (drones).   Sebo Technology has domestically developed rotor sails—wind propulsion systems for eco-friendly ships—and aims to lead the market with prices below those of Japanese and European products. MK Steel has developed AI-based inspection equipment for detecting foreign matter on steel surfaces, an essential step in steel processing. The company plans to supply the equipment to small and medium-sized steel companies to improve productivity and ensure workplace safety. Hyojin E&HY has developed equipment that converts greenhouse gases, including methane and carbon dioxide, into clean fuels such as hydrogen and methanol. The equipment is expected to lower the cost of cutting greenhouse gas emissions, easing the burden on companies. Participating investment firms expressed high expectations for the commercial viability and growth potential of the companies with approved restructuring plans. They also hoped for more opportunities to meet the companies. The firms further expressed their intention to contribute to business growth and industrial transformation by continuing to identify companies undergoing business restructuring that have strong prospects for success. “This event introduced investors to the achievements of companies pursuing renewed growth through business restructuring, providing a valuable opportunity for the companies to rekindle growth,” said Nam Myung-woo, Director General for Industrial Policy at MOTIR. “Successful business restructuring is essential to improving companies’ business fundamentals and strengthening their competitiveness. We will expand consulting and support for business restructuring and create more opportunities for companies and investors to connect.” date2026-10-21

Boom-Up Korea Biz Week 2026 Opens, Bringing Together 530 Global Buyers Including Lonza and JD.com

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will hold the opening ceremony for Boom-Up Korea Biz Week 2026 on October 21, 2026, at KINTEX in Ilsan. The largest multisector export business-matching event in Korea will run for two days, from October 21 to 22. The event will bring together 530 global companies, including major names such as Lonza, JD.com, and Mitsubishi Electric, and 1,400 promising Korean companies. It aims to facilitate approximately 4,500 export consultations and the signing of 100 memorandums of understanding (MOUs), with a target of approximately USD 200 million in export contracts. Launched in 2015, Boom-Up Korea is Korea’s largest multisector export business-matching event, inviting major overseas buyers to Korea for one-on-one meetings with Korean companies. Now established as one of the country’s flagship export support events, this year’s program will focus on expanding participation by regional companies in line with growth engines under the Five Mega-Regions and Three Special Self-Governing Provinces (5+3) framework; providing targeted support for emerging industries such as biotechnology and consumer goods; and broadening Korea’s export base by linking exhibitions nationwide with online and regional export consultations. First, the event will substantially expand participation by companies outside the Seoul Capital Area to promote “Exports for All,” in line with regional growth engines under the 5+3 framework. At least 50 percent of the Korean companies participating in Boom-Up Korea will be selected from outside the Seoul Capital Area. The program will provide full support to help competitive, promising regional companies create business opportunities, including through direct engagement with global buyers. The event will also focus on fostering emerging industries, including Korean biotechnology and consumer goods, as the next drivers of export growth. Approximately 360 global buyers in promising export sectors such as biotechnology, cosmetics, and food will participate, along with key companies such as Lonza and JD.com, to expand their engagement with Korean businesses. Moreover, the event will reach well beyond the physical confines of KINTEX and the constraints of its two-day schedule. By linking with 11 major industry exhibitions nationwide, holding online export consultations, and hosting export consultation roadshows in Daegu and Chungbuk, the program will bring export support to companies across the country. It aims to create the best possible conditions for promising companies nationwide to meet overseas buyers, regardless of location, and translate those meetings into tangible export results. In particular, Boom-Up Korea Biz Week 2026 will run alongside M.AX CON, a forum for business and technology exchanges on AI in manufacturing, to generate greater synergies. M.AX CON, which will take place on October 21, will bring together key figures in the global manufacturing AI ecosystem, including Professor Raffaello D’Andrea of the Swiss Federal Institute of Technology Zurich (ETH Zurich) and President Park Min-woo of Hyundai Motor Group, as well as experts from Korean and international companies such as IBM, Qualcomm, and POSCO. They will discuss AI adoption at manufacturing sites and effective approaches to cooperation, focusing on AI factories, industrial robots and physical AI, and autonomous manufacturing.   Kang Gam-chan, Deputy Minister for International Trade and Investment at MOTIR, emphasized that with the historic milestone of USD 1 trillion in exports coming within reach, Korea will continue to broaden its export base so that more companies across industries and regions can enter global markets, making “Exports for All” a reality. “We hope this year’s Boom-Up Korea will give Korean companies an opportunity to identify new markets and business partners, date2026-10-21

Opening Ceremony for Boom-Up Korea Biz Week 2026

Kang Gam-chan, Deputy Minister for International Trade and Investment at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the opening ceremony for Boom-Up Korea Biz Week 2026 at KINTEX Exhibition Center 2 in Goyang, Gyeonggi Province, on October 21, 2026. The event brought together major global companies, including Lonza, JD.com, and Mitsubishi Electric, and promising Korean companies. At the event, Deputy Minister Kang delivered congratulatory remarks, took part in the opening ceremony, and toured the exhibition halls. In his remarks, Deputy Minister Kang emphasized that Korea will continue to broaden its export base so that more companies across industries and regions can enter global markets, making “Exports for All” a reality. date2026-10-21

Automobile Exports Fall 5.5%, Production Rises 3.7% in September 2026

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Korea’s automobile export value fell 5.5 percent year-on-year to USD 6.05 billion in September 2026, while export volume rose 4.1 percent to 237,000 units. Domestic sales fell 14.3 percent to 135,000 units, while production rose 3.7 percent to 347,000 units. By region, exports rose in key markets: North America, up 9.2 percent to USD 3.07 billion, and the European Union, up 15.3 percent to USD 1.11 billion. However, exports declined in markets including Asia, down 60.0 percent to USD 330 million, and the Middle East, down 7.1 percent to USD 350 million, bringing total exports down 5.5 percent year-on-year to USD 6.05 billion. The decline was attributed to factors including lower used car exports amid the war in the Middle East and tighter regulations in major countries, despite a 4.1 percent year-on-year increase in new vehicle export volume. Meanwhile, eco-friendly vehicle export value rose 5.9 percent year-on-year to USD 2.89 billion, supported by increased exports of electric and hybrid vehicles. Domestic sales fell 14.3 percent year-on-year to 135,000 units in September. The decline appears to reflect an average of three fewer business days due to the shift of the Chuseok holiday from October in 2025 to September in 2026, deferred purchases in anticipation of new models, and slower electric vehicle sales as subsidy funds were depleted. Eco-friendly vehicle sales reached 80,000 units, accounting for approximately 59 percent of total domestic sales and maintaining a high share of the market. Automobile production rose 3.7 percent year-on-year to 347,000 units. The increase was supported by major automakers making up production shortfalls after concluding wage negotiations, as well as a base effect from strikes at some automakers a year earlier. With global competition recently intensifying as Chinese automakers expand into overseas markets, MOTIR plans to maintain close communication with the automobile industry and actively support its continued growth. date2026-10-19

September ICT Exports Top $70 Billion and Trade Surplus Exceeds $50 Billion, Setting New Records

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Science and ICT (MSIT, Deputy Prime Minister and Minister Bae Kyung-hoon) announced on October 14, 2026, that Korea’s ICT exports reached USD 75.15 billion in September 2026, up 195.8 percent year-on-year from $25.40 billion. Imports rose 55.3 percent from $13.80 billion to $21.43 billion, resulting in a trade surplus of $53.71 billion. Supported by expanding AI investment worldwide, September ICT exports jumped from the previous record of $59.98 billion straight past the $60 billion range to top $70 billion for the first time. The ICT trade surplus also continued to grow, reaching the $50 billion range for the first time. ICT exports accounted for 62.1 percent of Korea’s total exports of $120.94 billion, maintaining a share of above 60 percent for a second consecutive month and continuing to play a key role in Korea’s export growth. By product, exports of semiconductors (up 262.8 percent), mobile phones (up 28.2 percent), and computers and peripherals (up 393.0 percent) increased, while exports of displays (down 11.5 percent) and telecommunications equipment (down 2.3 percent) declined. Semiconductor exports set a new monthly record for a second consecutive month as expanding demand for AI infrastructure increased sales of high-value products and contract prices for conventional memory continued to rise. Mobile phone exports increased due to higher exports of components and increased sales volumes of premium handsets. Exports of computers and peripherals also increased, led by SSDs and mid- to large-sized computers, as investment in AI data centers continued to expand. Display exports declined as adjustments to some smartphone launch schedules reduced demand for OLED panels. Telecommunications equipment exports declined slightly as exports of navigation equipment to Poland and Türkiye and wireless communications equipment to Japan decreased. By destination, exports increased to all major markets: the U.S. (up 420.1 percent), China, including Hong Kong (up 228.9 percent), India (up 104.3 percent), Vietnam (up 66.8 percent), Japan (up 119.6 percent), Taiwan (up 110.9 percent), and the EU (up 128.5 percent). ICT imports totaled $21.43 billion in September 2026, up 55.3 percent from $13.80 billion a year earlier, as imports increased in several major categories, including semiconductors (up 94.5 percent), mobile phones (up 40.9 percent), and computers and peripherals (up 48.4 percent). date2026-10-14

Cabinet Approves Amendments to the Enforcement Decree of the Foreign Trade Act

The Cabinet of Korea approved amendments to the Enforcement Decree of the Foreign Trade Act on October 13, 2026. The amendments set out details on matters delegated by the Foreign Trade Act, which was amended on April 21, 2026. They specify the scope and procedures of investigations for imposing export and import restrictions; the scope of statistical data that may be requested from the Korea Customs Service (KCS) to support the use of trade agreements; and requirements for designating institutions that support businesses in using trade agreements and for revoking their designation.  The key changes to the Act adopted in April are outlined below. First, the amended Act expands the grounds for imposing export and import restrictions to protect national interests against an increasingly diverse range of trade risks. Previously, these restrictions were permitted only in circumstances such as war, civil unrest, natural disasters, unfair discrimination by trading partners, or the need to maintain international peace. They may now also be imposed to address national security threats or protect individuals’ and companies’ information, public morals, or national treasures.  Second, the amended Act allows requests to KCS for preferential tariff statistics to help small and medium-sized enterprises (SMEs) and middle market enterprises use trade agreements. It also establishes a legal basis for institutions that provide this support. These provisions aim to help these businesses respond systematically to changes in the trade environment. Accordingly, the amendments to the Enforcement Decree update the rules governing investigations for imposing export and import restrictions. They also clarify provisions on requesting data to support the use of trade agreements and designating institutions that provide this support. First, the amendments specify the scope and methods of investigations for imposing export and import restrictions. They establish procedures for consulting experts and gathering stakeholder views, and provide for detailed investigation rules to be prescribed by public notice. These rules will govern the investigations, thereby supporting the effective implementation of export and import restrictions. The amendments also specify which statistics on preferential tariffs KCS is to provide for support programs. These include export and import values eligible for preferential tariff treatment, values that actually received such treatment, and preferential tariff utilization rates for exports and imports. The data will support programs that systematically help SMEs and middle market enterprises use trade agreements and respond to changes in the trade environment. Finally, the amendments clarify the legal status and oversight framework of institutions that support businesses in using trade agreements to enable a systematic and stable response to changes in the trade environment. The amendments set out designation requirements and procedures, as well as grounds for revoking designation, including continued failure to meet those requirements or clearly improper performance of duties. They also establish a legal basis for hearings before designation is revoked. The amended Enforcement Decree is scheduled to take effect on October 22, together with the April amendments to the Foreign Trade Act. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will work to protect national interests against an increasingly diverse range of security threats. Amid rapid changes in the trade environment, the ministry plans to establish a support framework through public-private cooperation, including institutions that help businesses use trade agreements, and provide a clear legal basis for KCS to supply data. These steps will help MOTIR effectively deliver programs supporting the use of trade agreements and other related initiatives. date2026-10-14

Korea’s FDI Notifications Through Q3 2026 Rise 10.8% to $22.9 Billion, Actual Inflows Up 30.6% to $14.9 Billion

Foreign direct investment (FDI) in Korea on a notification basis reached USD 22.9 billion in the first three quarters of 2026, up 10.8 percent year-on-year. Actual inflows increased 30.6 percent year-on-year to $14.9 billion. Despite continued uncertainty in the investment environment, including prolonged tensions in the Middle East, foreign investment has continued to flow into promising sectors, underpinned by confidence in Korea’s economic fundamentals. In particular, significant foreign investment has continued to flow into advanced industries such as semiconductor materials, parts and equipment and AI data centers, supported by Korea’s semiconductor and other industrial supply chains and its AI ecosystem. Analysis also indicates that investment is expanding in clean energy, including offshore wind. Investment Notifications Investment notifications reached $22.9 billion in the first three quarters of 2026, up 10.8 percent year-on-year. This was the third-highest January–September total on record, suggesting that the upward momentum in foreign investment has continued. By type, greenfield investment notifications for new or expanded factories and business sites totaled $18.5 billion, up 4.0 percent year-on-year. After falling 19.8 percent in the first quarter, cumulative greenfield investment growth turned positive in the third quarter, which is viewed as a meaningful improvement. Meanwhile, M&A investment notifications, including corporate equity acquisitions and mergers, rose 53.1 percent to $4.4 billion, maintaining strong growth. By industry, manufacturing investment notifications fell 34.5 percent year-on-year to $5.7 billion, led by declines in chemicals, down 28.1 percent to $1.8 billion, and electrical and electronic products, down 38.5 percent to $1.8 billion. In contrast, investment in the machinery, equipment, and medical and precision instruments sector and in non-metallic mineral products continued to rise, increasing 145.1 percent to $0.9 billion and 13.0 percent to $0.4 billion, respectively. Services investment notifications rose 27.8 percent year-on-year to $14.2 billion. Investment increased across most sectors, including finance and insurance, up 29.8 percent to $5.4 billion, and real estate, up 72.6 percent to $1.9 billion. In particular, information and communications, including data centers, posted strong growth, rising 35.8 percent to $2.4 billion. Investment notifications in electricity, gas, water supply, environmental remediation, and construction, including clean-energy power generation projects, also increased sharply by 279.5 percent year-on-year to $3.0 billion. By source country, investment notifications from the United States rose 35.1 percent year-on-year to $6.7 billion, with numerous investment projects in promising areas such as semiconductor materials, parts and equipment and data centers. Investment notifications from the European Union remained broadly unchanged from a year earlier at $2.4 billion, down 3.9 percent, while those from Japan and China fell 47.9 percent to $1.9 billion and 39.7 percent to $1.7 billion, respectively. Actual Inflows Actual inflows reached $14.9 billion in the first three quarters of 2026, up 30.6 percent year-on-year and marking the highest January–September total on record. By type, greenfield investment inflows edged down 4.9 percent year-on-year to $7.9 billion, while M&A investment inflows rose 126.0 percent to $7.0 billion, maintaining strong growth. By industry, actual inflows into manufacturing rose 110.6 percent year-on-year to $6.3 billion. Investment in chemicals and non-metallic mineral products continued to grow, rising 256.6 percent to $4.8 billion and 242.5 percent to $0.4 billion, respectively. Pharmaceutical investment also improved, rising 129.0 percent to $0.3 billion as investment flowed into biotechnology and pharmaceuticals. Actual inflo date2026-10-07

September Exports Reach Record $120.9 Billion, Trade Surplus Hits Record $49.9 Billion

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that in September 2026, Korea’s exports rose 83.5 percent year-on-year to USD 120.94 billion. Imports increased 26.0 percent to $71.09 billion, resulting in a trade surplus of $49.85 billion. September exports rose 83.5 percent to $120.9 billion, exceeding $120.0 billion for the first time. Cumulative exports from January to September 2026 reached $814.5 billion, surpassing the 2025 annual record of $709.3 billion. Semiconductor exports rose 263 percent, while non-semiconductor exports increased 23 percent. Average daily exports, adjusted for working days, rose 105 percent to $5.63 billion, exceeding $5.0 billion for the first time. By item, exports increased in 11 of Korea’s 20 key export items. In IT, semiconductor exports rose 262.8 percent to $60.30 billion, exceeding $60.0 billion for the first time as memory demand continued to grow, with export volumes continuing to expand and contract prices maintaining their upward trend. Computer exports rose 435.3 percent to $7.00 billion as adoption of agentic AI expanded and demand for AI infrastructure continued to grow. Wireless communication device exports increased 23.4 percent to $2.14 billion, marking 11 consecutive months of growth, supported by strong sales of premium models such as the Galaxy Z8 series and Galaxy S26 Ultra, as well as increased exports of components for iPhones. Automobile exports edged down 5.5 percent to $6.05 billion, reflecting a base effect from the Chuseok holiday shifting from October in 2025 to September this year and weaker used-car exports. Average daily automobile exports, however, rose 5.5 percent. Ship exports rose 29.9 percent to $3.76 billion as deliveries of LNG carriers and very large gas carriers (VLGCs) increased. Petroleum product exports rose 72.0 percent to $7.22 billion, while petrochemical exports increased 5.1 percent to $3.95 billion. The increases came as international oil prices rose sharply amid fewer vessel transits through the Strait of Hormuz and heightened shipping risks in the Red Sea. Export volumes, however, fell 6.9 percent for petroleum products and 19.1 percent for petrochemicals. Meanwhile, secondary battery exports rose 14.0 percent to $0.72 billion, marking a fifth consecutive month of growth as export volumes increased with the expansion of the ESS market and unit prices rose on higher mineral prices. Steel exports posted modest growth of 3.3 percent to $2.24 billion despite tighter import restrictions in major markets, including U.S. tariffs and EU TRQs, as demand from AI data centers, particularly in the United States, increased. General machinery exports edged down 3.2 percent to $4.07 billion. Improving PMIs in the United States and China and increased investment in overseas factories supported higher exports of machinery parts and other items, but fewer working days and higher logistics costs weighed on overall exports. Cosmetics exports rose 31.4 percent to $1.51 billion, reaching an all-time high as shipments increased across major markets, including China, the United States, ASEAN, and the EU. Agricultural and fisheries product exports fell 4.7 percent to $1.11 billion. Exports of noodles, sauces, and other products remained strong, but factors such as fewer working days weighed on overall exports. By destination, exports increased in six of Korea’s nine major markets. Exports to China surged 122.7 percent to $26.01 billion, exceeding $20.0 billion for a fourth consecutive month. Although exports of some items, including petrochemicals, remained weak, growth was led by semiconductors, wireless communication devices, and computers. Exports to the United States jumped 137.0 percent to $24.33 billion, with major items such as semiconductors, petroleum products, and general machinery posting broad-based gains. Automobile exports also increased, supported by date2026-10-01

Major Retailer Sales Rise 7.7 Percent in August 2026

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that total sales at 26 major retailers (15 offline retailers and 11 online retailers) rose 7.7 percent year-on-year in August 2026, with offline sales up 5.4 percent and online sales up 9.3 percent. In August 2026, the earlier timing of Chuseok compared to last year boosted food sales, driven by increased sales of holiday gift sets. Growth in delivery services and travel product purchases also continued from July amid hot weather and the summer holiday season. Offline sales increased across all retail formats, including hypermarkets (up 4.5 percent), super supermarkets (SSMs, up 5.0 percent), department stores (up 11.9 percent), and convenience stores (up 0.8 percent). Hypermarket sales returned to growth after five consecutive months of year-on-year declines. Chuseok demand lifted sales of food (up 5.4 percent), as well as home appliances and toys (up 17.8 percent), while declines in other categories eased. SSMs also posted growth for the first time in eight months, as strong demand for holiday gift sets lifted food sales, including agricultural, livestock and fishery products (up 10.1 percent). Department store food sales rose 14.5 percent as advance sales of holiday gift sets began. Sales also continued to grow in all categories except household goods, including vacation-related goods and premium international brands. Convenience stores maintained sales growth as a higher average transaction value offset a decline in transactions (customer visits) caused by reduced outdoor activity during the heat wave. Online food sales rose 12.6 percent as sales of holiday gift sets began. Sales in the services/other category (up 16.9 percent) also continued to grow as consumers used more delivery services and purchased more travel products amid the heat wave. In August 2026, sales shares by channel were 59.7 percent for online retailers, 15.4 percent for convenience stores, 13.7 percent for department stores, 9.0 percent for hypermarkets, and 2.2 percent for SSMs. date2026-09-23