Ministry of Trade Industry and Resources

Public-Private Meeting on Strengthening Responses to Trade Barriers

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR) delivered opening remarks while presiding over the Public-Private Meeting on Strengthening Responses to Trade Barriers held on Tuesday, November 18, at the Korea International Trade Association (KITA) conference room in Seoul.   The meeting brought together KOTRA, KITA, the Korea Chamber of Commerce and Industry, the Korea Iron & Steel Association, and representatives from relevant ministries, agencies, and industry associations to review Korea’s overall trade barrier response system and discuss improvement measures in depth. Trade Minister Yeo noted that the conclusion of the Korea–U.S. tariff negotiations comes amid a structural shift in the global trade environment, and stressed that MOTIR will lead a more assertive trade policy response while supporting the overseas expansion of K-beauty and K-fashion companies. MOTIR also announced that it will work jointly with relevant ministries and agencies to publish the Korean version of the National Trade Estimate (NTE) Report in the first half of next year. date2025-11-20

Korea to Develop its Own NTE Report

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) chaired the Public-Private Meeting on Strengthening Responses to Trade Barriers on Tuesday, November 18, 2025, at Seoul Trade Tower. The meeting was attended by representatives from the government, industry associations, and related organizations. Through recent meetings and site visits with the K-beauty and K-fashion industries, Trade Minister Yeo heard firsthand that non-tariff barriers—such as certification and customs clearance requirements—pose significant challenges to Korea’s consumer goods exports in both advanced and developing markets. Building on these field insights, the meeting reviewed Korea’s current trade barrier response system and discussed improvement measures. MOTIR announced that it will work jointly with relevant ministries and agencies to publish the Korean version of the National Trade Estimate (NTE) Report in the first half of 2026. The U.S. Trade Representative (USTR) publishes the National Trade Estimate (NTE) Report on Foreign Trade Barriers each year, based on U.S. trade law, assessing the trade environment and major tariff and non-tariff measures in approximately 60 trading partners. MOTIR also plans to analyze foreign measures that disadvantage Korean firms and compile key findings into a consolidated “Trade Barrier Database” to improve industry access and usability. MOTIR will also establish the Public-Private Trade Barrier Response Council as a regular body meeting twice a year, enabling systematic information-sharing and coordinated response strategies. Progress on bilateral dialogues, FTA joint committees, and other relevant discussions will be monitored through quarterly review meetings to ensure a seamless public-private response mechanism to trade barriers. Trade Minister Yeo emphasized that “although the Korea–U.S. tariff negotiations have been concluded, the global trade environment has entered a structural new normal, requiring more assertive trade policies to address trade barriers. As the central coordinating body, the Ministry of Trade will mobilize public and private capabilities and actively support the overseas expansion of K-beauty and K-fashion companies.” MOTIR will also launch a dedicated task force by the end of 2025 to prepare the Korean NTE Report. date2025-11-20

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, 2025, 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. An export 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. Additional events included an Industrial AI Forum and 1:1 job consultations 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 strengthen industrial competitiveness and sustain 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, 2025, 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 (electrolytes for secondary batteries), and Amicogen (biotechnology culture media). The Investment Fund was 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 approximately KRW 210 billion attributable to 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.  At 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 as the program expands to six eligible sectors in 2026—including robotics and defense—the ministry is preparing to allocate KRW 100 billion in national funding under the government’s proposed 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 JK Kim) convened the 51st Trade Promotion Committee meeting on Monday, November 17, 2025, at the Korea Chamber of Commerce and Industry (KCCI) in Seoul. The meeting, chaired by Trade Minister Yeo Han-koo and attended by relevant ministries, discussed follow-up measures for trade-related commitments outlined in the “Korea–U.S. Joint Fact Sheet” released on November 14, 2025. The Joint Fact Sheet covers non-tariff barriers and economic security cooperation in various areas, including automobiles, agriculture, digital services, competition, intellectual property, labor, and the environment. During the meeting, relevant ministries shared details on the agreed items in the Joint Fact Sheet and reviewed the follow-up actions required from each agency. Based on the discussions, the Ministry of Trade will address concrete implementation measures with the Office of the U.S. Trade Representative (USTR) at the Korea–U.S. FTA Joint Committee meeting in December 2025. Trade Minister Yeo stated, “Following the conclusion of the tariff negotiations after an extensive process, it is essential that we thoroughly implement the non-tariff follow-up measures to ensure stable management of the Korea–U.S. trade environment.” 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 ensure the smooth completion of non-tariff consultations." 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, 2025, to honor foreign-invested companies and partner institutions that have contributed to attracting foreign investment, and to encourage their continued engagement in Korea. At the event, marking 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 their contributions to attracting investment in advanced industries such as semiconductors and secondary batteries. They are expected to continue strengthening Korea’s high-tech industrial base and 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), which 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 their presence in the country. In addition to the awards, the event featured a panel discussion on successful foreign investment cases and strategies to expand 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 incorporating industry feedback. 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) 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, 2025. They held multilateral and bilateral discussions to address overseas technical regulations that impede exports by Korean companies and participated in topic sessions on 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 at 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 commitment to actively engage in global discourse on technical regulations for emerging industries and to play a leading role in establishing relevant international norms. KATS President Kim Dae-ja emphasized that “through multilateral and bilateral discussions at the WTO TBT Committee, we have previously 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, 2025, 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 collaboration in the nuclear energy sector. Minister JK (Jung-Kwan) Kim and the Vietnamese Minister of Finance previously held a minister-level meeting in August 2025 during the state visit of Vietnamese General Secretary To Lam. Subsequently, the two sides convened a director-general-level meeting in September, followed by this deputy-minister-level meeting in November, continuing a series of discussions to enhance bilateral engagement. 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 ties have further strengthened 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    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 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 Kim) 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, 2025, 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. As the first KBEE held in North America, this year’s edition 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, attracting 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 also featured celebratory performances and fan events with Hallyu ambassadors Ha Ji-won, Taemin, and Hwasa, further heightening the excitement. Amid the rising popularity of K-content in the United States, demand for K-consumer goods continues to grow. 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 leveraged the KBEE to support the overseas expansion of various Korean consumer goods and content, including K-food, K-beauty, and K-merchandise. To facilitate retail entry and expand 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 2025 to further diversify export markets for K-consumer goods. A MOTIR official stated, “The export strategy linking 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