Ministry of Trade Industry and Resources

MOTIR Holds 2025 World Class Product Certification Ceremony

The Ministry of Trade, Industry, and Resources (MOTIR, Minister JK Kim) held the 2025 World Class Product of Korea Certification Ceremony on Tuesday, November 18, at Lotte Hotel World in Seoul, presenting certificates to 83 newly selected items and 88 companies designated as World Class Products and World Class Product producers. The World Class Product designation program, launched in 2001, annually selects world-class export products and their producers to diversify Korea’s export portfolio and strengthen future growth engines. This year, 27 items—including TC Bonder (semiconductor bonding equipment) and telecommunications semiconductor substrates—and 31 companies were selected as Current World Class Products, while 56 items and 57 companies were selected as Next Generation World Class Products. A business consultation event was held alongside the ceremony, bringing together 100 overseas buyers and 150 participating companies, including World Class Product producers. A total of 11 export contracts and MOUs valued at USD 16.3 million were signed. Side events included the Industrial AI Forum and a 1:1 job consultation session for middle market enterprises. Director General for Middle Market Enterprise Policy Choi Yeon-woo stated, “Despite an increasingly challenging trade environment due to rising protectionism, Korea’s export growth is driven by companies striving to produce world-class products.” He added, “The government will continue to provide strong support by strengthening industrial competitiveness and sustaining Korea’s export momentum.” date2025-11-19

MOTIR to Fund KRW 120 Billion for High-Tech Materials, Parts, and Equipment Firms, Catalyzing KRW 550 Billion in Investment

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) convened the Technical Subcommittee under the National High-Tech Strategic Industry Committee on Tuesday, November 18, and finalized the selection of 21 companies for the “Investment Fund for Materials, Parts, and Equipment SMEs and Mid-sized Enterprises in National High-Tech Strategic Industries.” Selected major firms include Soulbrain (semiconductor materials), Jusung Engineering (semiconductor equipment), Dongwha Electrolyte (electrolyte for secondary batteries), and Amicogen (biotechnology culture media). The Investment Fund was newly established this year with KRW 70 billion in national funding to promote domestic investment in high-tech industries such as semiconductors and secondary batteries. The government received a total of 62 investment proposals amounting to KRW 1.2 trillion (with requests totaling approximately KRW 210 billion in national funding). Following document screening and presentation evaluations, MOTIR plans to provide KRW 121.1 billion in investment support—including contributions from local governments—to companies across four high-tech sectors: semiconductors, secondary batteries, biotechnology, and displays. Final recipients will receive project funding immediately upon completing administrative procedures, including signing project agreements with the Korea Institute for Advancement of Technology (KIAT), the program’s implementing agency.  During the meeting, Director General for Industrial Policy Park Dong-il stated, “As global competition over supply chains intensifies, the Investment Fund will serve as a catalyst for expanding domestic production and research infrastructure.” He added, “MOTIR will continue to actively expand investment in the materials, parts, and equipment sector—the core foundation of industrial competitiveness—to strengthen the capabilities of Korean firms, increase localization rates, and ensure the stable growth of Korea’s high-tech industrial ecosystem.” MOTIR also noted that, with the program expanding to six eligible sectors beginning next year—including robotics and defense—the ministry is securing KRW 100 billion in national funding for the government budget in consultation with fiscal authorities. date2025-11-18

MOTIR and Relevant Ministries Discuss Trade Follow-up Measures after Korea–U.S. Tariff Negotiations

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim JK Kim) convened the 51st Trade Promotion Committee meeting on Monday, November 17, at the Korea Chamber of Commerce and Industry (KCCI) in Seoul. Relevant ministries participated in the meeting, which was chaired by Trade Minister Yeo Han-koo, to discuss follow-up measures for trade-related commitments outlined in the “Korea–U.S. Joint Fact Sheet” released on November 14. The Joint Fact Sheet covers issues related to non-tariff measures and economic security cooperation in various areas, including automobiles, agriculture, digital services, competition, intellectual property, labor, and the environment. In the meeting, the MOTIR explained the outcome of the Korea–U.S. tariff negotiations and reviewed the follow-up actions required from relevant agencies with the participants. Based on the discussions, the MOTIR will discuss implementation measures with the Office of the U.S. Trade Representative (USTR) in the Korea–U.S. FTA Joint Committee meeting tentatively planned for December. Trade Minister Yeo stated, “The tariff negotiations went through an arduous process before reaching the final agreement. It is essential that we thoroughly implement the follow-up measures with regard to non-tariff issues to ensure that the Korea–U.S. trade environment is managed in a stable and predictable manner.” He added, “As Korea’s chief representative to the Korea–U.S. FTA Joint Committee, I ask for the close cooperation of all relevant ministries to bring the non-tariff consultations to a smooth conclusion. date2025-11-17

Minister Urges Continued Foreign Investment in Korea

The Ministry of Trade, Industry, and Resources (MOTIR) hosted the 2025 Foreign Company Day on Thursday, November 13, to honor foreign-invested companies and partner institutions that have contributed to attracting foreign investment to Korea, as well as to encourage continued interest and investment in the country. At the event, which marks its 25th anniversary, Minister JK (Jung-Kwan) Kim congratulated the award recipients and urged foreign-invested companies to further expand their investment. Many of this year’s awardees were recognized for attracting investment to advanced industries such as semiconductors and secondary batteries. They are expected to continue strengthening Korea’s high-tech industrial base and enhancing supply chain stability through active business operations in the country. A total of 40 awardees were recognized at the ceremony. Anwar A. Al-Hejazi, CEO of S-OIL—Korea’s largest foreign-invested company—received the Gold Tower Order of Industrial Service Merit. No Seong, Executive Director at onsemi Korea—a global leader in power semiconductors and silicon carbide (SiC) that is expanding investment in Korea—received the Silver Tower Order of Industrial Service Merit. Minister Kim emphasized that “foreign investment has long played a pivotal role in Korea’s economic development,” and reaffirmed that “the government is committed to fostering a reliable and attractive investment environment that enables foreign-invested companies to succeed through sustained investment in Korea.” He called for continued interest and cooperation from foreign-invested companies in expanding investment in the country. In addition to the awards, the event featured a panel discussion to share successful foreign investment cases and explore strategies to expand foreign investment amid global supply chain restructuring. MOTIR will continue advancing policies to enhance industrial competitiveness and promote foreign investment, while improving the investment environment by actively reflecting industry feedback from the field.   date2025-11-14

Korea Seeks to Resolve Challenges Caused by Overseas Technical Regulations at the WTO

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Food and Drug Safety (MFDS, Minister Oh Yu-kyoung) attended the third meeting of the WTO Committee on Technical Barriers to Trade (TBT) from November 10 to 14. They held multilateral and bilateral discussions to address export-impeding overseas technical regulations encountered by Korean companies and participated in topic sessions covering technical regulations for emerging industries, such as AI and semiconductors. At the committee meeting, the Korean government raised eight technical regulations as Specific Trade Concerns (STCs), as they may hinder trade in Korea’s key export products— such as home appliances, petrochemicals, and cosmetics—through excessive certification requirements. These regulations include Indonesia’s mandatory SNI certification for home appliances; India’s toluene quality control order; the EU’s F-gas regulation; India’s writing and printing paper, coated paper, and board quality control order; and China’s regulation on the supervision and administration of cosmetics and medical devices. Experts from Korea also chaired and spoke in the topic sessions, presenting recent trends in AI and semiconductor standardization, sharing policy experiences on technical regulations, and leading discussions on how technical regulation frameworks can promote global trade. Furthermore, the Korean government reiterated its intent to proactively engage in global discourse on technical regulations for emerging industries and to assume a leading role in establishing relevant international norms. President Kim Dae-ja of KATS emphasized that “through multilateral and bilateral discussions at the WTO TBT Committee, we have in the past resolved numerous technical-barrier-to-trade issues, such as India’s steel product certification hurdles and Australia’s ban on brominated flame retardants.” He also encouraged businesses to “actively utilize the government’s TBT discussion channels to resolve export challenges caused by overseas technical regulations.” date2025-11-14

MOTIR Discusses Corporate Support Measures with Vietnam’s Ministry of Finance

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Tran Quoc Phuong, Vietnam’s Vice Minister of Finance, on Thursday, November 13, at Lotte Hotel Seoul. The two officials discussed practical ways to strengthen economic cooperation, including measures to address challenges faced by Korean companies operating in Vietnam and cooperation in the nuclear energy sector. Minister Kim and the Vietnamese Minister of Finance previously held a minister-level meeting in August during the state visit of Vietnamese General Secretary To Lam. As a follow-up, the two sides convened a director-general-level meeting in September and then this deputy-minister-level meeting in November, continuing a series of discussions to enhance bilateral cooperation. Deputy Minister Park noted that large-scale investments by Korean companies in Vietnam have continued despite the rapidly changing global trade environment, with investment in the first half of 2025 more than doubling year-on-year. He added that bilateral cooperation has deepened under the Comprehensive Strategic Partnership, highlighted by two summit meetings held this year (in August and at the APEC Summit in October) following the inauguration of the new Vietnamese government. During the discussions, Korea raised several key issues faced by Korean businesses in Vietnam and requested swift and effective solutions to these challenges: ①    delayed refunds of value-added tax (VAT), ②    the need for smooth implementation support for the global minimum tax, ③    reduced electricity payments to renewable energy companies, and ④    support for LNG power generation investment projects. The two sides also agreed on the need for close policy dialogue and cooperation between their ministries on nuclear energy. Building on this meeting, Vietnam’s Ministry of Finance—which oversees public investment and foreign investment policy—and Korea’s MOTIR—which oversees the real economy—plan to continue strengthening cooperation across relevant sectors. date2025-11-14

Korea’s ICT Exports Extend Growth Streak in October

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Science and ICT (MSIT, Minister Bae Kyung-hoon) announced on November 14 that Korea’s ICT exports in October 2025 rose 12.2 percent year-on-year to USD 23.3 billion, the highest October figure on record. Imports fell 2.9 percent to $13.0 billion, resulting in a $10.4 billion surplus. ICT exports grew for the ninth consecutive month despite fewer working days and global trade uncertainty, driven by strong semiconductor performance. Semiconductor exports increased 25.4 percent as DRAM and NAND prices continued to rise and demand for high-value memory for AI servers remained strong. Communication equipment exports also rose 2.5 percent on higher demand from Vietnam and India. Displays (down 8.8 percent), mobile phones (down 11.8 percent), and computers/peripherals (down 1.0 percent) declined. Display exports fell on lower unit prices, mobile phone exports weakened due to reduced component shipments to China, and computers/peripherals narrowed their decline as SSD demand improved. By destination, exports increased to China including Hong Kong (up 4.9 percent), Vietnam (up 3.8 percent), the EU (up 29.2 percent), and the United States (up 5.8 percent), while exports to Japan fell 4.6 percent. ICT imports fell 2.9 percent to $13.0 billion, driven by declines in mobile phones and displays, while imports of GPUs and mid-to-large-scale computers continued to rise on expanding AI infrastructure demand. date2025-11-14

K-Consumer Goods Take Center Stage in New York as Korean Wave Captivates the U.S.

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Ki) and the Korea Trade-Investment Promotion Agency (KOTRA, President and CEO Kang Kyung Sung) held the “Korea Brand & Entertainment Expo (KBEE) 2025 NEW YORK” from November 6 to 8 at the American Dream Mall in New Jersey. Now in its 25th edition, the KBEE leverages the growing global popularity of the Korean Wave to promote Korea's promising consumer goods and services, support their entry into overseas markets, and enhance brand recognition. This year’s edition—the first-ever KBEE held in North America—was designed to expand the global reach of K-consumer goods and provide small and medium-sized enterprises (SMEs) with more opportunities to engage directly with local consumers and buyers by linking K-culture and lifestyle products. The KBEE 2025 NEW YORK brought together 335 companies from Korea and abroad and attracted approximately 20,000 visitors over three days. About 100 Korean companies specializing in premium consumer goods—including K-beauty, food, and fashion—held export consultations with 235 buyers from North America and Latin America. The opening ceremony was attended by Lee Sang-ho, Acting Consul General of the Republic of Korea in New York, and KOTRA President Kang Kyung Sung. The event featured celebratory performances and fan events with Hallyu ambassadors Ha Ji-won, Taemin, and Hwasa, further heightening the excitement. With K-content’s soaring popularity in the United States, demand for K-consumer goods continues to grow rapidly. In 2024, K-beauty ranked first among imported cosmetics in the United States, while exports of K-food—led by products such as ramen and dried seaweed—increased by an annual average of 10 percent over the past decade, establishing a strong foothold in the local market. MOTIR strategically leveraged the KBEE to support the overseas expansion of various Korean consumer goods and content, including K-food, K-beauty, and K-merchandise. To expand retail entry and sales, the ministry also organized O2O-based showcases in collaboration with major local distribution networks. In addition, MOTIR plans to hold another KBEE in Kuala Lumpur, Malaysia, in December to further diversify export markets for K-consumer goods. A MOTIR official stated, “The export strategy connecting K-culture and K-consumer goods in North America has created meaningful momentum for SMEs seeking to expand overseas. We will continue to diversify export markets through events such as the New York and upcoming Malaysia KBEEs, and strengthen policy support to help K-consumer goods grow into global brands.”   date2025-11-10

K-Beauty Expands Global Reach with New Export Models

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) visited the headquarters of SILICON2, a cosmetics distribution company, on Thursday, November 6, to review Korea’s cosmetics export performance and hear firsthand from industry representatives about the challenges faced when entering global markets. Korea’s cosmetics exports reached a record USD 10.2 billion in 2024 and totaled USD 9.42 billion as of October 2025 (up 11.9 percent year-on-year). Export destinations are also diversifying beyond the U.S. and Japan to include Europe, the Middle East, and Latin America. SILICON2, a cosmetics distribution specialist that operates StyleKorean.com—Korea’s largest e-commerce platform for direct-to-consumer (D2C) exports of beauty products—features over 500 Korean beauty brands in 150 countries. The company also runs MOIDA, a chain of overseas stores located in the United States, the United Kingdom, France, and Indonesia, further expanding its global presence. MOTIR plans to provide comprehensive support to help the rapidly growing K-beauty industry, driven by the global popularity of the Korean Wave, expand its presence in international markets. First, to promote D2C exports, the ministry will introduce new programs next year to support the development of global online malls and delivery and payment service solutions. Second, through its consumer goods trade centers, MOTIR will offer hands-on assistance to Korean cosmetics companies in addressing challenges such as logistics, certification, and legal compliance when entering overseas markets. Lastly, the ministry will actively support participation in major international beauty exhibitions and facilitate entry into local and global online and offline distribution channels. Trade Minister Yeo Han-koo stated, “Korea’s cosmetics industry has strengthened its global presence with trendy products and innovative technologies, but growing protectionism and import regulations could pose challenges to future expansion. MOTIR will continue to identify and address these issues while fostering new export models, such as D2C exports, so that K-beauty can reach consumers around the world more directly.”   date2025-11-07

Korea to Invest KRW 940 Billion in Advanced Medical Device R&D Over Seven Years

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), the Ministry of Science and ICT (MSIT, Deputy Prime Minister and Minister Bae Kyung-hoon), the Ministry of Health and Welfare (MOHW, Minister Jeong Eun Kyeong), and the Ministry of Food and Drug Safety (MFDS, Minister Oh Yu-kyoung) announced plans to launch the second phase of the Inter-Ministerial Advanced Medical Device R&D Program, investing a total of KRW 940.8 billion (KRW 838.3 billion in government funding and KRW 102.5 billion in private investment) over seven years from 2026 to 2032. The program aims to develop six game-changing medical devices that are world-first or world-leading and to localize 13 essential medical devices. This inter-ministerial initiative will support the entire R&D cycle—from basic and fundamental research to commercialization, clinical trials, and regulatory approval. In particular, it will focus on future growth areas such as AI- and robotics-based medical devices, strengthening global competitiveness and fostering the medical device industry as a national growth engine. Building on the success of the first-phase Inter-Ministerial Full-Cycle Medical Device R&D Program (2020–2024), the new initiative passed the preliminary feasibility study for national R&D programs in August 2025. During the first phase, a total of 467 projects were supported, resulting in 433 regulatory approvals (331 domestic and 102 overseas), 72 technology transfers, and 254 cases of commercialization over the past five years. Notable achievements include the localization of hemodialysis filters, previously fully imported, and the development of the world’s first AI-based stroke diagnostic-assistance software medical device. The government plans to continue full-cycle R&D support through this follow-up program to ensure these achievements are sustained. To that end, the four ministries held a joint briefing session on Wednesday, November 5, at the President Hotel in Jung-gu, Seoul, to present details of the program’s second phase. The session aimed to improve understanding among researchers from industry, academia, research institutes, and medical institutions and to encourage active participation. It covered the program’s main features, participation guidelines for 2026 projects, and key schedules, followed by a Q&A session and on-site feedback. The government emphasized that this initiative is a cross-ministerial collaboration to support the development of advanced medical devices as a national growth driver and reaffirmed its commitment to ongoing communication with researchers to reflect their input and ensure the program’s successful implementation.   date2025-11-06