Ministry of Trade Industry and Resources

Korea’s Ambassador for International Investment Cooperation to Conduct U.S. Outreach with Six Major Think Tanks

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) announced on March 11, 2026, that Ambassador for International Investment Cooperation Choi Joong-kyung is visiting Washington D.C. from March 10 to 14, 2026, to conduct outreach activities with major U.S. institutions to strengthen Korea-U.S. economic, industrial, and investment cooperation. The Korean government appointed Ambassador Choi for International Investment Cooperation this January as an ambassador-at-large to help raise Korea’s external credibility by explaining the country’s solid economic fundamentals to the international community. Ambassador Choi will visit think tanks, the U.S. Chamber of Commerce, and companies to expand the scope of bilateral cooperation through discussions on promising areas for industrial cooperation. First, a seminar for promoting Korea-U.S. industry and investment cooperation will be held on March 11, 2026, at the Heritage Foundation, one of the leading U.S. think tanks. At the seminar, Ambassador Choi will present the potential of the Korean economy and its industrial competitiveness to U.S. experts, business leaders, and special correspondents. He will also highlight that the two countries are well-suited partners for economic and industrial cooperation as allies that share the values of democracy and free markets. In his keynote address, Ambassador Choi stated, “The United States has advanced technology while Korea has world-class manufacturing capacity. He added that the two countries can create mutually beneficial synergy based on their complementary industrial structures. He proposed that shipbuilding, defense, AI and semiconductors, nuclear power, energy, and batteries are six promising areas of bilateral industrial cooperation, maintaining that both countries will be able to enhance their global competitiveness by combining the U.S.’ cutting-edge technologies and demand for security cooperation with Korea’s manufacturing infrastructure and highly skilled workforce. Ambassador Choi adds that policy continuity and legal stability are essential for Korean companies to continue expanding investments in the U.S. in areas such as semiconductors, batteries, and other manufacturing sectors, underscoring the need for transitional measures in adjusting existing policies for projects in which investments have already begun. During his visit, Ambassador Choi also plans to meet with key experts at the U.S. Chamber of Commerce, Peterson Institute for International Economics (PIIE), Korea Economic Institute of America (KEI), Brookings Institution, and the Center for Strategic and International Studies (CSIS) to discuss strategic bilateral cooperation across politics, economy, security, and international environment. date2025-03-11

MOTIE holds conference on promoting R&D of foreign-invested companies

Director-General for Cross-Border Investment Policy Peob-min Ryu at the Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea visited energy solutions company Danfoss Korea today in Seoul, where he held a conference with foreign-invested companies to discuss issues regarding participation in domestic technology development projects and to seek measures for boosting the R&D investment of advanced technology-holding foreign-invested companies.   date2025-03-06

MOTIR Expands R&D Support for Foreign-Invested Companies

Ryu Peob-min, Director-General for Cross-Border Investment Policy at the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun), visited energy solutions company Danfoss Korea in Seoul, on March 6, 2025. He met with foreign-invested companies to discuss issues regarding participation in domestic technology development projects and ways to expand R&D investment by foreign-invested companies with advanced technologies. MOTIE is currently pushing measures to catalyze R&D by foreign-invested companies by linking them with Korea’s industrial, academic, and research institutions. In 2024, the ministry rolled out a global industrial technology R&D project exclusively for foreign-invested firms . In 2025, the government increased the budget to KRW 3.5 billion (up KRW 2 billion from KRW 1.5 billion in 2024) and will announce new projects later this month to recruit companies wanting to participate. The government also expanded cash grants by 10 percent (up by 15 percent for noncapital regions) and raised the cash grant limit for R&D centers developing high-tech strategic technologies to 75 percent in 2025 (up from 40 percent in 2024). MOTIR will also step up activities under the Korea-Global Innovation Investment Alliance (“Alliance”), launched to encourage foreign-invested firms’ wider participation in the R&D ecosystem, to promote networking between foreign-invested companies and industrial, academic, and research institutions. date2025-03-06

Korea’s exports resume growth in February

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced on March 1 that Korea’s exports and imports for the month of February 2025 increased 1.0 percent and 0.2 percent year-on-year, respectively, to USD 52.6 billion and $48.3 billion. The trade balance stood at a surplus of $4.3 billion. By item, semiconductors (down 3.0 percent to $9.6 billion) suffered a downtick despite the solid performance of high-bandwidth memory (HBM) chips and DDR5s, as the fixed price of general-purpose memory chips like DDR4s and NAND flash plunged. Meanwhile, computers (solid-state drives) grew for the 14th consecutive month (up 28.5 percent to $0.8 billion) and wireless communication devices turned to an expansion (up 42.3 percent to $1.5 billion).  Automobile exports (up 17.8 percent to $6.1 billion) snapped their three-month losing streak, fueled by demand for hybrid electric vehicles (HEVs) (up 74.3 percent to $1.3 billion) and bio-health exports (up 16.1 percent to $1.4 billion) were driven by the steep climb achieved by biopharmaceuticals (up 45.5 percent to $0.6 billion). Exports to four out of Korea’s nine major destinations saw growth in February. To China (down 1.4 percent to $9.5 billion), robust demand for wireless communication devices and general machinery offset the slower exports of semiconductors. Exports to the U.S. inched up 1.0 percent to $9.9 billion. Exports to ASEAN hit $9.6 billion (up 12.6 percent), the second highest for the month of February, led by semiconductors and petroleum products. Exports to India (up 18.6 percent to $1.7 billion) recorded an all-time high for the month and those to the Middle East (up 19.6 percent to $1.7 billion) also broke their three-month downward streak.   date2025-03-04

Minister Ahn meets U.S. Trade Representative

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met U.S. Trade Representative Jamieson Greer on February 28 (local time) in Washington D.C. and conveyed Korea’s stance on U.S. trade measures, discussing measures for stronger bilateral cooperation. date2025-03-04

Minister Ahn meets U.S. Secretary of the Interior

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

Minister Ahn meets PIIE President

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met Peterson Institute for International Economics (PIIE) President Adam Posen on February 28 (local time) in Washington D.C. and discussed Korea’s effective response measures to bilateral trade issues and requested for support towards facilitating intergovernmental cooperation. date2025-03-04

Minister Ahn meets CSIS President and CEO

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met Center for Strategic and International Studies (CSIS) President and CEO John Hamre on February 27 (local time) in Washington D.C. and discussed U.S. economic policies and Korea’s response strategies. date2025-03-04

Minister Ahn meets U.S. Secretary of Commerce

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met U.S. Secretary of Commerce Howard Lutnick on February 27 (local time) in Washington D.C. and discussed stronger shipbuilding cooperation and Korea’s exclusion from U.S. tariff plans. The two sides agreed to establish a working-level consultation channel on tariff issues. date2025-03-04

Korea-Australia Green EPA Business Forum

Minister for Trade Inkyo Cheong of the Republic of Korea attended the Korea-Australia Green Economy Partnership Arrangement (EPA) Business Forum on February 26 in Seoul and gave an opening message to the two countries’ business and related reprensentatives including Australian Ambassador to Korea Jeff Robinson. date2025-02-28