Ministry of Trade Industry and Resources

Korea Reviews Korea–U.S. Non-Tariff Commitments to Maintain Trade Stability

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) convened the 54th Trade Promotion Committee on February 10, 2026, at the Korea Chamber of Commerce and Industry (KCCI) in Seoul. The meeting was chaired by Trade Minister Yeo Han-koo, with relevant ministries in attendance. During the meeting, the ministries shared the outcomes of consultations with the United States—held amid heightened uncertainty after the United States announced plans to raise tariffs—and discussed measures to maintain stability in Korea–U.S. trade relations, including an implementation plan for non-tariff commitments. The government plans to accelerate Korea’s follow-up actions on strategic investments in the United States, including measures under the Special Act for Korea–U.S. Strategic Investment Management. It will also closely review progress on implementing the non-tariff commitments set out in the Korea–U.S. Joint Fact Sheet (JFS) and continue consultations with the Office of the United States Trade Representative (USTR) on implementation plans. Trade Minister Yeo stressed that, “As uncertainty in the Korea–U.S. trade environment continues to intensify, it is critical for the government to respond as one team.” He urged relevant ministries to coordinate closely so that “key non-tariff issues are managed in a stable manner and do not become tied to tariff measures.” He added, “MOTIR will maintain close communication with the United States to seek mutually beneficial solutions for both countries.” date2026-02-11

Trade Minister Yeo Chairs the 54th Trade Promotion Committee

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) chaired the 54th Trade Promotion Committee on February 10, 2026, at the Korea Chamber of Commerce and Industry (KCCI) in Jung-gu, Seoul.  The Committee shared the outcomes of recent U.S. consultations and discussed steps to maintain stability in Korea–U.S. trade relations, including a plan to implement non-tariff commitments. The meeting was attended by senior working-level officials from relevant ministries, including the Ministry of Economy and Finance (MOEF), the Ministry of Foreign Affairs (MOFA), the Ministry of Land, Infrastructure and Transport (MOLIT), and the Ministry of Justice (MOJ). “As uncertainty in the Korea–U.S. trade environment continues to intensify, it is critical for the government to respond as one team,” Trade Minister Yeo stated, urging relevant ministries to coordinate closely so that “key non-tariff issues are managed in a stable manner and do not become tied to tariff measures.”  date2026-02-11

MOTIR Supports Distributors and Cross-Border E-Commerce to Expand K-Consumer Goods Exports

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that it will provide KRW 47.1 billion in government funding each year for the next three years, starting in 2026, to help distribution companies expand overseas. The program will support small and medium-sized consumer goods companies in entering overseas markets alongside distribution companies, with a focus on overseas distribution hubs. It will also scale up cross-border e-commerce as a new driver for expanding exports of K-consumer goods, drawing on the Korean Wave and growing online transactions.  Distribution companies face constraints from high initial capital outlays and operational burdens when expanding overseas, and online distribution systems that meet foreign consumers’ demand for cross-border purchases of Korean products remain limited. At the same time, demand for K-consumer goods is rising, but access for overseas consumers remains limited. Small and medium-sized consumer goods companies also face difficulties expanding overseas on their own due to burdens across the export process, including customs clearance, certification, and logistics. Starting in 2026, MOTIR will select eight distribution companies and five cross-border e-commerce companies each year for three years and provide tailored support for overseas market research, marketing, and logistics. It will also encourage distribution companies to pursue joint overseas expansion with small and medium-sized consumer goods companies, fostering mutually beneficial growth. With cross-border e-commerce up 143 percent—from USD 1.2 billion in 2020 to USD 2.9 billion in 2024—MOTIR will support the localization of domestic cross-border e-commerce platforms, turning them into global marketplaces that are highly accessible to overseas consumers. MOTIR stated it would review the program’s performance each year and use the findings to refine the program, thereby promoting mutual growth between K-consumer goods manufacturers and distribution companies and expanding exports through new channels. MOTIR will focus its policy efforts on building a sustainable foundation for K-consumer goods exports and enabling the distribution industry to serve as a new export infrastructure under the program. Companies wishing to participate in the support program may apply through the Korea Trade-Investment Promotion Agency (KOTRA) website (www.kotra.or.kr) by February 25, 2026. date2026-02-10

Automobile Exports Hit Record High of $72 Billion in 2025

Korea’s automobile exports in 2025 totaled USD 72.0 billion, exceeding the previous record of $70.9 billion set in 2023. This marked a new all-time high and the third consecutive year in which automobile exports surpassed $70 billion. Exports of eco-friendly vehicles amounted to $25.8 billion, up 11 percent year-on-year. Hybrid-vehicle exports reached a record high of $14.8 billion (up 30 percent year-on-year), contributing significantly to overall growth. Used-car exports also hit a new high of $8.9 billion (up 75.1 percent year-on-year), reflecting an improved reputation of Korean vehicles and favorable exchange-rate conditions. Domestic automobile production in 2025 totaled 4.1 million units (down 0.6 percent year-on-year), remaining above 4.0 million units for the third consecutive year. By model, production was led by the Trax (308,000 units), followed by the Kona (270,000), Avante (269,000), Sportage (226,000), Tucson (201,000), and Carnival (186,000). Of total production, 67 percent, or 2.7 million units, were exported (down 1.7 percent year-on-year). Domestic automobile sales in 2025 reached 1.7 million units, up 3.3 percent from 2024. Sales of domestically produced vehicles totaled 1.4 million units (up 0.8 percent), accounting for 81 percent of the total, while imported vehicle sales came to 320,000 units (up 15.3 percent), representing 19 percent of the total. Eco-friendly vehicle sales rose to 813,000 units (up 25 percent from 2024), accounting for 48 percent of new vehicle sales. Among them, electric-vehicle sales increased to 216,000 units (up 52 percent from 2024). In December 2025, automobile exports totaled $6.0 billion, down 1.5 percent from a year earlier, reflecting base effects from strong performance in December 2024. Automobile production in December came to 362,000 units (down 2.9 percent), driven primarily by the Trax, Kona, and Avante. Domestic sales totaled 145,000 units (up 1.4 percent), including 115,000 units of domestically produced vehicles and 30,000 units of imported vehicles. Although U.S. tariff measures cast a shadow over the automobile industry in 2025, uncertainty was eased through a combination of policy measures—including efforts to strengthen competitiveness in eco-friendly vehicles and secondary batteries, as well as emergency responses to U.S. auto tariffs—together with the successful conclusion of tariff negotiations with the U.S., enabling automobile exports to reach a record high of $72 billion. Looking ahead to 2026, the automobile industry is expected to face challenges such as increased localization of production due to rising global protectionism and intensifying competition. The ministry stated that it will continue to support the industry by steadily implementing initiatives centered on the AI Future Vehicle M.AX Alliance and the K-Mobility Leadership Strategy, with the aim of strengthening future industrial competitiveness and reinforcing export momentum. date2026-01-15

ICT Exports Post Record Annual Performance in 2025

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 January 15, 2026, that Korea’s ICT exports in 2025 totaled USD 264.3 billion, up 12.4 percent from a year earlier. Imports rose 5.8 percent year-on-year to $151.3 billion, resulting in a trade surplus of $113.0 billion. Annual ICT exports reached an all-time high, as the global expansion of AI data centers boosted demand for semiconductors and solid-state drives (SSDs), despite continued uncertainties in the global trade environment. By product, exports of semiconductors rose 22.1 percent year-on-year, while computers and peripherals increased 3.8 percent and communication equipment climbed 3.9 percent. By contrast, display exports declined 9.5 percent, and mobile phone exports edged down 0.5 percent. Semiconductor exports reached a record high, supported by expanding demand for high-value memory products and sustained price increases for general-purpose semiconductors, including DRAM. Exports of computers and peripherals increased on strong demand for SSDs shipped to China (including Hong Kong), the Netherlands, and Taiwan. Communication equipment exports rebounded for the first time in three years, driven by double-digit growth in shipments to the United States and solid demand from India and Mexico. Display exports declined as falling unit prices and weaker downstream demand for LCD products outweighed increased adoption of OLED displays in IT devices. Meanwhile, mobile phone exports edged down as subdued demand for components offset a recovery in global smartphone demand. By destination, exports increased to Taiwan (up 64.8 percent), Vietnam (up 14.5 percent), India (up 11.3 percent), the European Union (up 10.2 percent), the United States (up 9.8 percent), and Japan (up 5.5 percent), while exports to China, including Hong Kong, declined 0.9 percent. In December 2025, Korea’s ICT exports and imports amounted to $30.0 billion and $14.9 billion, respectively, and the trade balance posted a surplus of $15.1 billion. ICT exports extended their upward trend for 11 consecutive months since February 2025, recording an all-time monthly high. For the first time on a monthly basis, ICT exports surpassed the $30 billion mark. Semiconductor exports, as well as exports of computers and peripherals, also reached record highs, underscoring strong export momentum toward year-end. date2026-01-15

Trade Minister Meets with White House OMB Director Russell Vought

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Russell Vought, Director of the Office of Management and Budget (OMB) at the U.S. Congress in Washington, D.C., on January 14, 2026 (local time). During the meeting, Trade Minister Yeo outlined Korea’s domestic digital legislative developments and heard concerns raised by the U.S. side. date2026-01-14

Trade Minister Meets with U.S. Representative Adrian Smith, Chair of the House Trade Subcommittee

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with U.S. Representative Adrian Smith (R-NE-03), Chair of the Trade Subcommittee of the House Ways and Means Committee, at the U.S. Congress in Washington, D.C., on January 14, 2026 (local time).   During the meeting, Trade Minister Yeo outlined Korea’s domestic digital legislative developments and heard concerns raised by the U.S. side. date2026-01-14

Trade Minister Meets with U.S. Senator Todd Young

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with U.S. Senator Todd Young (R-Indiana) at the U.S. Congress in Washington, D.C., on January 14, 2026 (local time), to outline Korea’s domestic digital legislative developments and hear concerns raised by the U.S. side. date2026-01-14

Trade Minister Meets with U.S. Senator Bill Hagerty

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Bill Hagerty (R-Tennessee) at the U.S. Congress in Washington, D.C., on January 14, 2026 (local time), to outline Korea’s domestic digital legislative developments and hear concerns raised by the U.S. side. date2026-01-14

Trade Minister Meets with U.S. Senator Dave McCormick

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with U.S. Senator Dave McCormick (R-Pennsylvania) at the U.S. Congress in Washington, D.C., on January 14, 2026 (local time), to outline Korea’s domestic digital legislative developments and hear concerns raised by the U.S. side. date2026-01-14