Ministry of Trade Industry and Resources

Korean Culture and Technology Capture Global Attention at 2025 Osaka-Kansai World Expo

The Ministry of Trade, Industry, and Energy (MOTIE, Minister Ahn Duk-geun), Ministry of Culture, Sports, and Tourism (MCST), Ministry of Foreign Affairs (MOFA), Ministry of Agriculture, Food, and Rural Affairs (MAFRA), and the Korea Heritage Service (KHS) announced that Korea will host the five-day Korea Week (May 13–17) at the 2025 Osaka-Kansai World Expo, starting with Korea Day. Approximately 350 visitors attended the Korea Day event launched on May 13, 2025, including a total of 30 government officials and business leaders of both countries. The Korea Day event features a series of programs celebrating the history of Korea-Japan exchanges, beginning with a reenactment of the Joseon Tongsinsa procession commemorating the port entry of the ship that carried diplomatic envoys from the Joseon Dynasty into Osaka. The Joseon Tongsinsa was the Joseon Dynasty’s delegation for bilateral exchanges in the 17–19th century. Related records are jointly registered by the two countries on the UNESCO Memory of the World Register in 2017. The government officials and business leaders from both countries also visited the Japan Pavilion and the Korea Pavilion. Under the theme “Between Lives,” the Japan Pavilion features plant, farm, and factory zones showcasing the use of Japan’s cutting-edge technology in waste decomposition, recycling, and the circular economy. The Korea Pavilion, themed “With Hearts,” presents a blend of advanced technology and culture through AI, hydrogen fuel cells, and K-Pop to illustrate environmental recovery and intergenerational connection. Since its opening on April 13, the Korea Pavilion has attracted about 350,000 visitors and ranks as one of the most popular national pavilions at the Expo. Officials and business leaders then attended major sideline events, including the Korea Tourism Festa and K-Food Fair. A B2B and B2C marketing exhibition space brought together 90 Korean firms and 160 Japanese buyer companies, featuring a wide range of cosmetics and daily necessities produced by Korean SMEs as well as IT home appliances and mobility products of Samsung Electronics and Hyundai Motor, providing visitors the opportunity to experience the products firsthand. MOTIE Minister Ahn Duk-geun stated that growing global interest in the Korean lifestyle and culture is increasing demand for Korean products and technology, creating a virtuous cycle. He added that the government will build on the Expo to generate synergy so that Korea’s strengths in these areas can translate into stronger national competitiveness. Held as the final official program, the Korea-Japan Friendship Dinner brought together around 100 key figures of both countries to wish success for the 2025 Osaka-Kansai World Expo. date2025-05-13

Korea-Saudi Business and Investment Forum

Korea’s Deputy Minister for Trade Park Jong-won attended the Korea-Saudi Business and Investment Forum on May 9 in Seoul and gave a congratulatory address to approximately 250 participants composed of Korean and Saudi government officials and related institutions. date2025-05-12

MOTIE Holds APEC Sustainable Supply Chain Forum

Korea’s Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) is hosting the APEC Sustainable Supply Chain Forum at the International Convention Center Jeju (ICC Jeju) on May 9, 2025, with the participation of the APEC Committee on Trade and Investment (CTI) and experts from governments, industries, and research institutions across APEC member economies. The forum will examine ways to strengthen the sustainability and resilience of global supply chains by sharing public-private cooperation measures. The forum features three presentation sessions and a panel discussion. The first session addresses the shift in supply chain priorities from efficiency to sustainability and resilience. The second session introduces best practices for addressing major challenges the private sector faces in building sustainable supply chains. The third session covers strategic approaches for sustainable supply chain cooperation among APEC members.   In the panel discussion, participants will exchange views on practical cooperation measures to build global supply chains across the APEC region. Through this forum, MOTIE aims to lay the groundwork for Korean companies to preemptively respond to global supply chain realignment through sustainability and resilience. The forum’s outcomes will also be incorporated into future policy development. date2025-05-09

Korea’s exports gain 3.7% in April

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 1 that Korea’s exports for April 2025 increased 3.7 percent year-on-year to USD 58.2 billion and imports decreased 2.7 percent to $53.3. billion, the trade balance netting a surplus of $4.9 billion. April exports logged historic highs for the month, maintaining an upward trajectory for the third month running. By item, seven out of 15 major export items saw growth. Semiconductors achieved an all-time high for the month with $11.7 billion (up 17.2 percent) as 8gb DDR4s’ fixed price rebounded for the first time in 12 months and robust demand for high-bandwidth memory chips (HBMs) continued. Wireless communication devices shot up 26.5 percent to $1.5 billion and kept up the growth momentum for the third consecutive month, led by the solid performance of smartphones (up 61.1 percent to $0.4 billion). Bio-health (up 14.6 percent to $1.4 billion) recorded the highest for the month as biopharmaceuticals soared 21.8 percent to $0.9 billion. Steel exports ended their four-month losing streak with $3.0 billion (up 5.4 percent) and secondary batteries snapped the 16-month decline with $0.7 billion (up 13.7 percent). Ship exports surged 17.3 percent to $2.0 billion, advancing for the second month in a row. Meanwhile, automobile exports dipped 3.8 percent but still reached this year’s new high at $6.5 billion. Conventional gasoline-powered vehicles and electric vehicles (EVs) faltered, while hybrid electric vehicles (HEVs) carried forward their strong growth momentum for the 14th consecutive month. Car parts exports gained 3.5 percent to $2.0 billion, turning to an expansion for the first time this year. Agricultural products attained fresh highs (up 8.6 percent to $1.1 billion) and cosmetics (up 20.8 percent to $1.0 billion) renewed their April monthly highs on the backs of the global popularity of K-food and K-beauty products. Exports of electrical devices were driven by transformers and power cables, setting record highs of $1.4 billion (up 14.9 percent). By region, Korea’s exports expanded to seven out of nine major overseas markets in April. China-bound exports grew 3.9 percent to $10.9 billion as semiconductor exports rebounded and wireless communication devices posted double-digit growth. To ASEAN, exports rose 4.5 percent to $9.4 billion with semiconductors and steel products at the helm. EU-bound exports secured unprecedented highs of $6.7 billion (up 18.4 percent) as automobiles and bio-health both hiked by double digits. Exports to India climbed 8.8 percent to an all-time high of $1.7 billion for the month, fueled by semiconductors, general machinery, and steel products. Exports to Latin America turned positive with $2.6 billion (up 3.9 percent). To the Middle East and CIS countries, exports increased for the third and second consecutive month, respectively, with $1.7 billion (up 1.6 percent) and $1.2 billion (up 37.2 percent). U.S.-bound exports shrank 6.8 percent to $10.6 billion despite strong demand for petroleum products, secondary batteries, and wireless communication devices as shipments of automobiles and general machinery contracted. In April, Korea’s energy imports declined 20.1 percent to $10.0 billion as imports of crude oil (down 19.9 percent) and gas (down 11.4 percent) diminished. Non-energy imports grew 2.4 percent to $43.4 billion.   date2025-05-02

Trade Minister meets Costa Rica's Minister of Foreign Trade

Korea’s Minister for Trade Inkyo Cheong met Costa Rica's Minister of Foreign Trade Manuel Tovar today for discussions on measures to invigorate the two countries’ comprehensive economic cooperation. date2025-04-28

Korea and Costa Rica hold trade ministers’ meeting

Korea’s Minister for Trade Inkyo Cheong met Costa Rica's Minister of Foreign Trade Manuel Tovar today for discussions on measures to invigorate the two countries’ comprehensive economic cooperation. During the talks, Trade Minister Cheong highly appraised the scope of Korea-Costa Rica trade and investment, which is continuously expanding based on the Korea-Central America Free Trade Agreement (FTA) that entered into force in 2019. He also proposed that the two sides further advance bilateral trade around their areas of strength, such as automobiles, pharmaceuticals, medical devices, and semiconductors. Noting the substantive conclusion of discussions this January on Costa Rica’s accession to the Digital Economy Partnership Agreement (DEPA), Trade Minister Cheong expressed anticipation towards wider cooperation between the two countries going forward, including in digital areas as well. Moreover, Trade Minister Cheong asked the cooperation of Costa Rica, as the chair of the 2025 OECD Ministerial Meeting, in encouraging the extensive participation of OECD member economies in the upcoming Asia-Pacific Economic Cooperation (APEC) Summit to be hosted in Gyeongju, Korea, this October.   date2025-04-28

Korea and the U.S. establish framework for tariff discussions

Minister of Trade, Industry and Energy Dukgeun Ahn, together with Deputy Prime Minister for Economic Affairs Choi Sang-mok, held the Korea-U.S. 2+2 Trade Dialogue in Washington, D.C. on April 24. Later that afternoon, Minister Ahn met with the Office of the United States Trade Representative (USTR), where the two sides agreed to launch bilateral working-level consultations on tariff issues at the earliest possible date. In the 2+2 Trade Dialogue held earlier that morning, Minister Ahn and USTR Representative Jamieson Greer discussed ways to strengthen Korea-U.S. trade cooperation, with a focus on achieving a mutually beneficial trade balance. During the meeting, Minister Ahn requested that the U.S. exempt Korea from all forms of tariffs, including reciprocal tariffs, product-specific tariffs on automobiles and steel, and any newly imposed tariffs in the future. Through this meeting, Korea and the U.S. reached a principled agreement on establishing a framework for future consultations. Both sides agreed to hold working-level discussions next week to determine the scope and format of the consultations. The specific areas and approach will be finalized through coordination with relevant ministries and the Economic Security Strategy Task Force, chaired by the Acting President. Based on this internal process, discussions with the U.S. will proceed. To comprehensively address issues of interest to the U.S. side, officials from several Korean government ministries also participated in the meeting, including the Ministry of Science and ICT, Ministry of Land, Infrastructure and Transport, Ministry of Environment, Ministry of Agriculture, Food and Rural Affairs, and Ministry of Health and Welfare. These ministries shared updates on cross-sectoral issues, laying the groundwork for future consultations. Minister Ahn stated, “With both sides agreeing to launch technical consultations, we now have an open channel for more detailed discussions. We will approach future consultations with the U.S. in a calm and deliberate manner, while maintaining close communication with relevant ministries and industry stakeholders.” date2025-04-25

Korea-U.S. trade consultation

Korea’s Trade, Industry and Energy Minister Dukgeun Ahn met U.S. Trade Representative Jamieson Greer on April 24 in Washington D.C. to discuss tariffs and other bilateral trade issues. date2025-04-25

Korea-U.S. trade consultation

Korea’s Trade, Industry and Energy Minister Dukgeun Ahn and Deputy Prime Minister Choi Sang-mok met U.S. Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent on April 24 in Washington D.C. for a Korea-U.S. trade consultation. date2025-04-25

Korea Trade Commission proposes anti-dumping duty on Vietnamese cold-rolled stainless steel products

The Korea Trade Commission (KTC) under the Ministry of Trade, Industry and Energy (MOTIE) held the 459th KTC meeting today for deliberation and resolution on six agenda items. First, the KTC decided to propose the levying of anti-dumping duties on Vietnamese cold-rolled stainless steel products, giving a final determination based on investigation findings that the dumped imports have caused material injury to the domestic industries. The KTC will be suggesting a five-year anti-dumping duty of between 11.37% and 18.81% to Korea’s minister of economy and finance. With regard to sodium dithionite from China and particle board from Thailand, the KTC determined based on preliminary investigations a cause-and-effect relation between the dumped imports and injury on domestic industries. Accordingly, the KTC will be proposing provisional anti-dumping duties of between 15.15% and 33.97% on Chinese sodium dithionite products and between 11.82% and 17.19% on Thai particle board to Korea’s minister of economy and finance as a preventive measure during the main investigation period. Addressing investigations on the alleged infringement of a toner cartridge patent and mango jelly copyright, the KTC ruled that the respondents have not violated claimants’ rights and thereby have not committed acts of unfair trade practice. Concerning investigations on the alleged infringement of tent and sleeping bag trademark, the KTC decided to accept both parties’ request for suspension of investigations and closed the case. The KTC also received a report on the roll-out of investigations on an interim review of Chinese polyethylene terephthalate (PET) film. Chinese PET film was levied a five-year (May 2023–May 2028) anti-dumping duty of between 2.2% and 36.98% in May 2023, but the recent rise in import shipments and lowered import unit price led to four Korean firms requesting an interim review on Chinese firms Tianjin Wanhua and Kanghui New Material Technology based on allegations of an increased dumping rate in 2024 compared to that of the anti-dumping investigation period in 2021. Should the KTC’s investigation findings over the next six months confirm an increased dumping rate, the KTC can propose to the Korean economy and finance minister that a revised dumping rate be imposed until the anti-dumping duty expires in 2028. Meanwhile, the KTC held a public hearing on the same day on domestic industry’s injury from imports of Chinese stainless steel plates, for which investigations were initiated in September 2024, to grant interested parties sufficient opportunity to make statements and ensure their rights of defense. The said products are currently subject to a provisional anti-dumping duty of 21.6% and await a final determination in the first half of this year following domestic and overseas due diligence procedures.   date2025-04-24