Ministry of Trade Industry and Resources

Korea’s Annual Exports Reach New Highs in 2025

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Korea’s exports in 2025 reached USD 709.7 billion, up 3.8 percent year-on-year, marking the first time exports surpassed $700 billion and the highest annual performance on record. Daily average exports also climbed 4.6 percent from the previous year to a record $2.64 billion. Korea’s imports in 2025 stood at $631.7 billion, remaining broadly flat (down 0.02 percent year-on-year) as non-energy imports—including semiconductor manufacturing equipment—increased and energy imports declined amid falling global oil prices. The trade balance posted a surplus of $78.0 billion, extending the surplus streak to 11 consecutive months and improving by $26.2 billion year-on-year. This marked Korea’s largest trade surplus since 2017, when the surplus stood at $95.2 billion. Exports continued to be driven by its core industries—including semiconductors, automobiles, and ships—while electrical equipment, agricultural and fishery products, and cosmetics each recorded their highest export values on record, emerging as new growth drivers. By destination, exports became more diversified, with reliance on the United States and China decreasing and exports to ASEAN, Latin America, and the CIS increasing. In 2025, exports increased in six of Korea’s 15 key export items, alongside solid growth in promising items outside the top 15, including electrical equipment, agricultural and fishery products, and cosmetics. Exports of semiconductors, Korea’s largest export item, rose 22.2 percent year-on-year to an all-time high of $173.4 billion, supported by solid demand from AI data centers and a sharp rise in fixed prices for memory chips. Monthly semiconductor exports set new highs for nine consecutive months beginning in April. Automobile exports totaled $72.0 billion, up 1.7 percent, setting a new record (previously $70.9 billion in 2023). While exports to the U.S.—the largest market—declined due to tariff impacts, shipments to the EU and the CIS rose on strong demand for hybrid vehicles and used cars. Bio-health exports rose 7.9 percent to $16.3 billion, extending their growth streak for a second consecutive year. Ship exports surged 24.9 percent to $32.0 billion, while exports of computers ($13.8 billion, up 4.5 percent) and wireless communication devices ($17.3 billion, up 0.4 percent) also increased. Meanwhile, exports of items outside the top 15 increased 5.5 percent to $157.4 billion, marking a new high and further diversifying Korea’s export portfolio. Exports of agricultural and fishery products, cosmetics, and electrical equipment reached record highs, reflecting growing global demand for K-food and K-beauty products as well as rising electricity demand worldwide. By contrast, exports of petroleum products declined due to lower unit prices, while exports of petrochemicals and steel fell amid declining product prices caused by global oversupply. Exports expanded in six of Korea’s nine major export markets in 2025. Exports to China, Korea’s largest export destination, declined 1.7 percent to $130.8 billion, as decreases in petrochemicals, wireless communication devices, and general machinery offset solid semiconductor exports. Exports to the U.S. fell 3.8 percent to $122.9 billion, reflecting declines in automobiles, general machinery, and auto parts. However, double-digit growth in semiconductor exports helped moderate the overall decline. Korea’s trade surplus with the U.S. stood at $49.5 billion, down $6.1 billion from 2024. Exports to ASEAN rose 7.4 percent to $122.5 billion, driven by semiconductors, raising ASEAN’s share of total exports from 16.7 percent in 2024 to 17.3 percent in 2025. Exports to the EU rose 3.0 percent to a record high of $70.1 billion, led by automobiles and ships, with broad- date2026-01-02

Korea Reaches $66.0 Billion in January–November Auto Exports

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced on December 21 that Korea’s cumulative automobile exports for January–November 2025 reached an all-time high of USD 66.0 billion. With exports continuing at the current pace, total automobile exports in 2025 are expected to surpass the previous annual record of $70.9 billion set in 2023.  November automobile exports increased 13.7 percent year-on-year to $6.4 billion, marking the second-highest November figure on record. Eco-friendly vehicle exports totaled 78,000 units, with export value rising 26.3 percent year-on-year to $2.3 billion. Hybrid vehicles accounted for 69 percent of total eco-friendly vehicle exports, at 54,000 units, and 67 percent of export value, at $1.6 billion. On a cumulative basis, hybrid vehicle exports for January–November surpassed 500,000 units, up 27 percent year-on-year. Domestic automobile sales reached 146,000 units in November. Domestically produced vehicle sales declined 5.2 percent year-on-year to 115,000 units, while imported vehicle sales increased 18.2 percent to 31,000 units. Eco-friendly vehicle sales rose year-on-year for 21 consecutive months, totaling 71,000 units and accounting for 48.4 percent of total monthly domestic sales. By type, this included 51,000 hybrid vehicles, 18,000 EVs, 1,000 plug-in hybrid vehicles, and 1,000 hydrogen vehicles. Notably, cumulative domestic EV sales for January–November reached a record high of 207,000 units, up 52.2 percent year-on-year, driven by strong domestic EV demand. This figure has already surpassed the previous annual record of 158,000 units set in 2023. Automobile exports to all regions increased year-on-year in November. Domestic automobile production rose 2.9 percent year-on-year to 354,000 units, largely reflecting a base effect from production disruptions caused by heavy snowfall in the Seoul metropolitan area in November 2024. Cumulative automobile production for January–November totaled 3.74 million units. If current trends continue, Korea is expected to exceed 4 million units in annual production for the third consecutive year. With uncertainties eased following the conclusion of the Korea–United States tariff negotiations, MOTIR will continue to strengthen support for the domestic automobile industry’s growth next year. The ministry will promote the development of AI-based autonomous driving technologies, expand production, investment, and R&D in eco-friendly vehicles, and address export-related challenges. date2025-12-22

MOTIR Reviews Agenda Items for the Successful Convening of the 14th WTO Ministerial Conference

Director General for Trade Negotiations Kwon Hye-jin of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will serve as Korea’s chief representative at the World Trade Organization (WTO) Senior Officials Meeting (SOM) to be held in Geneva, Switzerland, from Monday, December 15 to Wednesday, December 17. The SOM is convened approximately three months prior to the 14th WTO Ministerial Conference (MC14), scheduled for March 2026 in Cameroon. The meeting will bring together senior officials from WTO members to review the MC14 agenda, identify key deliverables, and engage in high-level consultations on current WTO issues.  Director General Kwon will also participate in the WTO General Council to discuss ways to achieve outcomes on MC14’s key agenda items, including WTO reform; the incorporation of the Agreement on Electronic Commerce; the extension of the moratorium on customs duties on electronic transmissions; and the incorporation of the Investment Facilitation for Development (IFD) Agreement into the WTO system. Additionally, she will hold in-depth consultations with WTO members on major WTO issues, such as the continued development of the Industrial Policy Dialogue. On the margins of the meeting, Director General Kwon will meet with representatives of key trading partners, including South Africa and the European Union, to advance cooperation on the accession and expansion of the IFD Agreement, which Korea co-chairs with Chile. MOTIR underscored the importance of restoring the WTO’s functions to ensure a predictable trade and investment environment and reaffirmed its commitment to working closely with relevant ministries to deliver meaningful outcomes at the MC14. date2025-12-16

K-Trade Opens New Pathways

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Korea International Trade Association (KITA) held the 62nd Trade Day Ceremony at COEX in Seoul on Thursday, December 4, with around 1,000 attendees, including trade-merit honorees and leaders from government ministries and related institutions. 2025 Export Performance and Evaluation Despite numerous challenges, Korea’s exports are on track to reach an all-time high, recording USD 640.2 billion from January to November this year. Following the launch of the new administration, exports recorded six consecutive months of growth as uncertainties eased, reflecting a positive “slow start, strong finish” trajectory. Korea’s export growth this year has been driven by strong competitiveness in key manufacturing sectors such as semiconductors, automobiles, ships, and bio industries. K-consumer goods, including K-food and beauty products, as well as defense exports, have also performed strongly amid the global spread of Korean culture. Export destinations have diversified beyond the traditionally concentrated U.S. and Chinese markets, expanding into ASEAN, the EU, and other regions. The export base has also broadened, with the number of exporting SMEs reaching 89,000 cumulatively in the first three quarters—an all-time high—and SME export value rising to USD 87.1 billion, also marking a record high. Minister Kim Jung-kwan stated, “This year’s achievements were made possible by the combination of our industrial competitiveness and strong export commitment, symbolizing the resilience and robustness of our economy and export sector.” He added, “Going forward, we will strive not only to surpass the all-time export record but also to open new pathways for Korean trade through industrial innovation and K-culture—and to ensure that the benefits of export growth extend to SMEs, local communities, and workers across the country.” 62nd Trade Day Ceremony and Awards Held under the slogan “K-Trade Opens New Pathways,” the 62nd Trade Day Ceremony included an opening video, welcome remarks by the KITA Chairman, a theme video, the awards ceremony, congratulatory remarks by the Prime Minister, and a commemorative program. This year, 598 individuals received government commendations, and 1,689 companies were awarded Export Towers in recognition of their contributions to Korea’s export growth. To acknowledge the exceptional role played by trade professionals during a year of rising global uncertainty—yet record-high export performance—the government awarded one additional Silver Tower Order of Industrial Service Merit, following last year’s expansion of the Gold Tower Order of Industrial Service Merit. Government commendations and Export Towers for individuals and companies who excelled in new-market development and expanding Korea’s export base were presented on-site during the ceremony. This year’s award-winning companies showcased several notable trends: First, companies in core industries such as semiconductors and automobiles reaffirmed their resilience regardless of the situation. The Gold Tower Order of Industrial Service Merit was awarded to a semiconductor inspection equipment manufacturer expanding exports through strong technological capabilities and growing AI chip demand, as well as to an automaker diversifying its export market through manufacturing innovation and competitive product quality. The highest honor—the USD 35 billion Export Tower—was awarded to a leading HBM semiconductor company.  Second, shipbuilding and defense companies posted significant growth, further broadening Korea’s export portfolio. Major Export Towers (USD 4 billion, USD 600 million) were awarded to shipbuilders advancing the transition to eco-friendly vessels, and a Silver Tower Order of Indust date2025-12-16

Korea’s ICT Exports Reach All-Time High in November

The Ministry of Trade, Industry and Resources and the Ministry of Science and ICT announced on December 15 that Korea’s exports of ICT goods in November 2025 rose 24.3 percent year-on-year to USD 25.5 billion. Imports increased by 2.7 percent to $12.8 billion, resulting in a trade surplus of $12.7 billion. Amid a recovery in global demand for ICT devices, ICT exports rose for the tenth consecutive month on a year-on-year basis in November, reaching an all-time high. The trade balance also posted the largest surplus on record, in line with the strong growth in exports. By product, exports of semiconductors (up 38.6 percent), mobile phones (up 3.5 percent), computers/peripherals (up 1.9 percent), and communication equipment (up 3.3 percent) increased, while display exports declined (down 3.7 percent). Semiconductor exports reached a record high, supported by continued increases in fixed memory semiconductor prices and strong demand for high-value products. Mobile phone exports rose on robust demand for high-performance components, including camera modules and 3D sensing modules. Exports of computers and peripherals returned to growth on strong SSD demand as investment in AI servers expanded.   Communication equipment exports increased thanks to recovering demand for automotive equipment in the United States and for components in Vietnam. By contrast, display exports declined, as falling LCD prices and weaker downstream demand outweighed a rebound in OLED exports. By destination, exports to India fell 8.9 percent, while exports to China, including Hong Kong (up 25.3 percent), Vietnam (up 11.6 percent), the European Union (up 18.1 percent), the United States (up 7.9 percent), and Taiwan (up 32.2 percent) all increased. Exports to Japan also rose 18.0 percent, returning to growth on higher shipments of semiconductors and computers and peripherals. ICT imports amounted to $12.8 billion in November, up 2.7 percent year-on-year, driven by increases in mobile phones, including components (up 26.9 percent), computers/peripherals (up 11.2 percent), and communication equipment (up 21.5 percent). In particular, strong demand for newly released products from major global manufacturers, launched in September, led to higher imports of finished mobile phones. By contrast, imports of semiconductors (down 3.3 percent) and displays (down 0.7 percent) declined. date2025-12-15

Roundtable with the Seoul Japan Club (SJC) and Japanese-Invested Companies

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK (Jung-Kwan) Kim) attended the roundtable with the Seoul Japan Club (SJC) and Japanese-invested companies held at the Korea Press Center on Thursday, December 11.   The meeting brought together SJC Chairman and President of Mitsubishi Corporation Korea Matsuura Tetsuya, representatives of major Japanese investors, and officials from relevant organizations, including the Japan External Trade Organization (JETRO) and the Japan Chamber of Commerce and Industry in Korea.   In his remarks, Trade Minister Yeo highlighted that Japan has become one of Korea’s largest foreign investors despite global trade uncertainties. He underscored the need to strengthen cooperation with Japan in advanced industries—including AI, semiconductors, biotechnology, and new energy—to ensure that Japan’s investment in Korea leads to strengthened bilateral supply chains. date2025-12-12

MOTIR Holds WTO Multilateral Trade Strategy Meeting

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK (Jung-Kwan) Kim) held the WTO Multilateral Trade Strategy Meeting on Wednesday, December 10, at the Korea Chamber of Commerce and Industry in Seoul.   The meeting brought together the Ministry of Economy and Finance (MOEF), the Ministry of Foreign Affairs (MOFA), the Ministry of Agriculture, Food and Rural Affairs (MAFRA), the Ministry of Oceans and Fisheries (MOF), and the Permanent Mission of the Republic of Korea in Geneva.   In his remarks, Trade Minister Yeo emphasized that “enhancing the relevance of the WTO and restoring the multilateral trading system are essential to ensuring a predictable trade and investment environment for Korean companies amid growing global trade uncertainties.” He underscored the importance of working closely with relevant ministries and like-minded members to deliver meaningful outcomes at MC14, including the incorporation of the IFD Agreement and the extension of the E-Commerce Moratorium. date2025-12-12

K-FEZ Expands Investment Outreach to Japanese Port and Logistics Companies

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) hosted “K-FEZ Day in Japan” on December 11 in Fukuoka. Focusing on the port and logistics sector, the event showcased the investment appeal and business environment of Korea’s Free Economic Zones (K-FEZs) to companies in Japan’s Kyushu region, expanding investment outreach. The program included an overview of the K-FEZ investment environment; presentations on port and logistics projects in the Incheon, Gyeonggi, and Busan–Jinhae Free Economic Zones; a briefing by the Japan Maritime Center on the role of Korea–China–Japan manufacturing logistics; and one-on-one investment consultations. Approximately 100 participants attended, including representatives from MOTIR, KOTRA, the Incheon, Gyeonggi, and Busan–Jinhae Free Economic Zone Authorities, as well as major Japanese port and logistics companies such as Nippon Express, Mitsui-Soko, and Kokura Transport. Each Free Economic Zone Authority introduced its specialized initiatives—such as cold-chain clusters, e-commerce districts, and integrated logistics manufacturing facilities. J&K Logistics, a Japanese logistics consulting firm, also shared successful cases of Japanese logistics companies investing in Korea and proposed concrete models for Korea–Japan cooperation, generating strong interest among participants. Je Kyung-hee, Director-General of the Free Economic Zone Planning Office, stated that “this event reaffirmed the strong interest of major Japanese port and logistics companies in K-FEZs,” adding that “MOTIR will continue strengthening industry-specific and tailored investment promotion activities aligned with the unique characteristics of each Free Economic Zone Authority.” MOTIR will continue to promote the K-FEZ investment environment to major investment partner countries, including Japan, and expand opportunities for cooperation with potential investors. date2025-12-11

Korea Discusses Preparatory Measures for the 14th WTO Ministerial Conference

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the WTO Multilateral Trade Strategy Meeting on Wednesday, December 10, joined by the Ministry of Economy and Finance (MOEF), the Ministry of Foreign Affairs (MOFA), the Ministry of Agriculture, Food and Rural Affairs (MAFRA), the Ministry of Oceans and Fisheries (MOF), and the Permanent Mission of the Republic of Korea in Geneva. With the 14th WTO Ministerial Conference set for March 26–29 in Cameroon, now three months away, participants examined recent developments and Korea’s response strategies regarding key agenda items for MC14 and the WTO General Council on December 16–17. These included the WTO reform, the incorporation of the Investment Facilitation for Development (IFD) Agreement and the E-Commerce Agreement into the WTO system, and agriculture and fisheries subsidy negotiations. The IFD Agreement, currently supported by 128 participating members, was concluded at MC13 under Korea’s co-chairmanship. Korea has since continued efforts to incorporate it into the WTO system, such as by adopting a related statement at APEC in May 2025 and hosting an IFD session at the WTO Public Forum in September 2025. Trade Minister Yeo noted, “Amid growing global trade uncertainties, enhancing the WTO’s relevance and restoring the multilateral trading system are vital to ensuring a predictable trade and investment environment for Korean companies.” He underscored the importance of working closely with relevant ministries and like-minded members to deliver meaningful outcomes at MC14, including the incorporation of the IFD Agreement and the extension of the E-Commerce Moratorium. date2025-12-10

MOTIR Holds the 52nd Trade Promotion Committee

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR) chaired the 52nd Trade Promotion Committee on Wednesday, December 10, at the Korea Chamber of Commerce and Industry in Seoul.   The meeting brought together officials from relevant ministries to review plans for holding the Korea–U.S. FTA Joint Committee, assess progress on the Korea–UK FTA upgrade negotiations, and examine key trade issues involving the EU, Mexico, and Canada, as well as developments related to the U.S. IEEPA lawsuit.   In his opening remarks, Trade Minister Yeo emphasized that “stable management of non-tariff issues remains critically important” following the conclusion of bilateral tariff negotiations with the United States, and called for “active inter-ministerial cooperation as the government prepares for the Joint Committee.” He also underscored the government’s commitment to “maintain vigilance and pursue proactive response measures as major economies expand protectionist measures and global trade conditions remain volatile.” date2025-12-10