Ministry of Trade Industry and Resources

Fifth Round of Korea-Bangladesh CEPA Negotiations

Park Geun-oh, Director General for Trade Agreement Policy at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and Korea’s chief negotiator, attended the opening session of the fifth round of official negotiations on the Korea-Bangladesh Comprehensive Economic Partnership Agreement (CEPA) at Lotte Hotel Seoul on July 27, 2026. The meeting brought together government delegations from both countries, including Ayesha Akther, Additional Secretary and Head of the Foreign Trade Agreement Wing at the Ministry of Commerce and Bangladesh’s chief negotiator. Director General Park said a CEPA would help Korean companies enter the South Asian market and diversify their supply chains, adding that Korea would work to resolve the outstanding issues and bring the negotiations to an early conclusion. date2026-07-28

Korea-U.S. Shipbuilding Partnership Center Launches

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the opening ceremony of the Korea-U.S. Shipbuilding Partnership Center (KUSPC) at the Mayflower Hotel in Washington, D.C., on July 23, 2026. The ceremony brought together U.S. Secretary of Commerce Howard Lutnick, government officials, and representatives of shipbuilding companies and organizations from both countries. The center was established as a follow-up to the May 8 MOU between MOTIR and the U.S. Department of Commerce establishing the Korea-U.S. Shipbuilding Partnership Initiative (KUSPI). After delivering welcoming remarks, Minister Kim witnessed Korean and U.S. companies and institutions sign 15 MOUs covering areas including joint R&D, workforce development, and supply chain cooperation. Minister Kim called KUSPC “a unique platform for shipbuilding cooperation and a symbol of Korea’s firm commitment to helping rebuild the U.S. shipbuilding industry.” date2026-07-28

Korea and Bangladesh to Hold Fifth Round of CEPA Negotiations

Korea and Bangladesh will hold the fifth round of official negotiations for a Comprehensive Economic Partnership Agreement (CEPA) in Seoul from July 27 to 31. The talks come as Korea seeks to expand into promising emerging markets and diversify its export markets amid a rapidly changing global trade environment. Bangladesh, the world’s eighth-most populous country, is a key South Asian market with strong growth potential. The Office of Trade Negotiations at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) said that around 60 delegates from the two countries will attend the talks. The Korean delegation will be led by Park Geun-oh, Director General for Trade Agreement Policy at MOTIR, while Bangladesh’s delegation will be led by Ayesha Akther, Additional Secretary and Head of the Foreign Trade Agreement Wing at the Ministry of Commerce. Since declaring the launch of negotiations in November 2024, the two countries have held four formal rounds and several intersessional meetings. They have finalized the agreement text in four areas: customs procedures, rules of origin procedures, sanitary and phytosanitary measures (SPS), and technical barriers to trade (TBT), laying a solid foundation for further progress. In this round, the two sides aim to resolve key outstanding issues in eight areas: goods, services, investment, rules of origin, digital trade, intellectual property rights, economic cooperation, and general provisions, and bring the negotiations close to a conclusion. With a population of 170 million, Bangladesh has posted average annual economic growth of more than 6 percent since 2000 and is scheduled to graduate from least developed country (LDC) status in November 2026. It is also actively opening its market by pursuing accession to the Regional Comprehensive Economic Partnership (RCEP) and free trade agreements with major economies, including Japan. A Korea–Bangladesh CEPA is expected to expand the export base for Korean automotive and petrochemical companies and broaden economic cooperation in areas such as infrastructure, manufacturing, and digital industries. “Bangladesh is a major South Asian market that is growing rapidly. A CEPA will help Korean companies expand into the region and diversify their supply chains,” said Director General Park. “MOTIR will make every effort in this round to resolve as many outstanding issues as possible and bring the negotiations to a swift conclusion.” date2026-07-27

Korea–U.S. Shipbuilding Partnership Center Launches to Drive MASGA Forward

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the U.S. Department of Commerce jointly opened the Korea–U.S. Shipbuilding Partnership Center (KUSPC) in Washington, D.C., on July 23, 2026, with Minister Kim and U.S. Secretary of Commerce Howard Lutnick in attendance. The opening came just over two months after the ministries signed a May 8 MOU establishing the Korea–U.S. Shipbuilding Partnership Initiative (KUSPI), under which they agreed to set up the center. Opening Ceremony Approximately 130 people attended the ceremony, including the two commerce ministers, senior government officials, and business leaders from both countries. Korean attendees included officials from the Ministry of Finance and Economy (MOFE) and the Defense Acquisition Program Administration (DAPA), the Ministry of National Defense (MND), Korea’s ambassador to the United States, and lawmakers from the Korea–U.S. Parliamentary League. U.S. attendees included Acting Secretary of the Navy Hung Cao, U.S. Ambassador to Korea Michelle Steel, Senators Todd Young and Mark Kelly, and officials from the White House, the U.S. Maritime Administration, and the Department of State. Industry participants included Kim Hyung-kwan, CEO of HD Korea Shipbuilding & Offshore Engineering; Choi Sung-an, CEO of Samsung Heavy Industries; Jung In-sub, President of Hanwha Ocean; and Yoo Sang-cheol, CEO of HJ Shipbuilding & Construction, along with other business leaders from both countries. In his welcoming remarks, Minister Kim called KUSPC “a unique platform for shipbuilding cooperation and a symbol of Korea’s firm commitment to helping rebuild the U.S. shipbuilding industry” and added, “With government support, KUSPC will bring Korea’s world-class shipbuilding technologies to shipyards on both U.S. coasts and swiftly advance the $150 billion shipbuilding investment.” He also called on the U.S. government to support the investment through a steady stream of orders, incentives, and regulatory relief. In a congratulatory address read by DAPA Director General for International Cooperation Kim Tae-gon, DAPA Minister Lee Yong-cheol promised to identify new opportunities for Korea–U.S. cooperation on naval vessels and help Korean companies enter U.S. shipbuilding and defense supply chains. DAPA will also work closely with KUSPC to turn the MASGA vision into concrete, sustainable results. KUSPC Director Lee Jong-geon said the center will connect governments, shipyards, universities, research institutes, and investors; train skilled shipbuilding workers in the United States; advise major U.S. shipyards on productivity; and support joint R&D. He added, “We will turn the $150 billion investment into tangible results and help restore the U.S. shipbuilding industry’s competitiveness.” 15 Korea–U.S. Cooperation MOUs Signed At the ceremony, Korean and U.S. companies and institutions signed 15 MOUs in the presence of the two ministers. The agreements cover four areas: building Team Korea, supply chain cooperation, workforce development, and joint R&D. The agreements are expected to strengthen the U.S. shipbuilding industry while supporting Korean investment in the U.S. 1. Building “Team Korea” – Six Korean organizations—HD Hyundai Heavy Industries, Hanwha Ocean, Samsung Heavy Industries, the Korea Offshore & Shipbuilding Association (KOSHIPA), the Korea Research Institute of Ships & Ocean Engineering (KRISO), and KUSPC—formed “Team Korea” to combine their strengths, advance both countries’ shipbuilding industries, and help Korean companies enter the U.S. market. The shipbuilders will help modernize U.S. shipyards and build a local supplier network, while KRISO will jointly develop and demonstrate advanced shipbuilding and marine technologies. KUSPC will provide U.S. mark date2026-07-27

MOTIR Holds Public Hearing on Plurilateral Green Economy Partnership Agreement

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held a public hearing on Korea’s participation in the Green Economy Partnership Agreement (GEPA) on July 24, 2026, at the Korea International Trade Association (KITA). MOTIR convened the hearing under Article 7 of the Act on the Conclusion Procedure and Implementation of Commercial Treaties (the Trade Procedures Act) to gather public input, including from stakeholders and experts, before formulating a plan to pursue the trade agreement. GEPA is a plurilateral agreement that Singapore, New Zealand, and Chile agreed to pursue on the sidelines of the APEC Economic Leaders’ Meeting in Gyeongju in October 2025. It will explore new trade rules for the green economy to prevent countries’ climate measures from becoming unnecessary barriers to trade and promote trade and investment in related sectors. Singapore, New Zealand, and Chile are at the forefront of developing new trade rules and also jointly launched the Digital Economy Partnership Agreement (DEPA). Korea's participation in GEPA is expected to be significant, as it would allow Korea to establish new trade rules together with these countries while proactively reflecting the circumstances and interests of Korean industry. “There is a growing need to develop new trade rules that ensure trade-related environmental measures are transparent and science-based while improving regulatory coherence across countries,” said Kim Jang-hee, Director General for Emerging Trade Strategy and Policy of MOTIR, in his opening remarks as chair of the hearing. “We will develop a thorough plan for pursuing the agreement so that climate action and the growth of green markets strengthen the competitiveness of Korean industry and create new export opportunities.” Taking comprehensive account of the input received at the hearing, MOTIR will, in accordance with the Trade Procedures Act, proceed with the domestic procedures for Korea to participate in GEPA negotiations. date2026-07-24

MOTIR Minister Visits U.S. to Discuss Korea–U.S. Trade and Investment Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) will visit Washington, D.C., from July 22 to July 25, 2026, to accelerate trade and investment cooperation between Korea and the United States. Minister Kim will first meet with U.S. Secretary of Commerce Howard Lutnick to discuss key bilateral issues, including Korea’s strategic investment in the United States. He will also meet with other U.S. government officials, including Secretary of Energy Chris Wright, to discuss strengthening bilateral cooperation on resources and energy. In addition, Minister Kim will conduct outreach to the U.S. Congress and other key stakeholders to improve mutual understanding of bilateral trade and investment issues. On July 23, 2026, Minister Kim will attend the opening ceremony of the Korea–U.S. Shipbuilding Partnership Center in Washington, D.C., together with senior U.S. officials and representatives from Korean and U.S. shipbuilding companies. The Center is a follow-up to the memorandum of understanding (MOU) on the Korea–U.S. Shipbuilding Partnership Initiative (KUSPI), signed by MOTIR and the U.S. Department of Commerce on May 8, 2026. Through the Center, the two sides plan to support cooperation between Korean and U.S. shipbuilders and develop tangible outcomes. “The government has begun full-scale work to advance strategic investment projects in the United States under the Korea–U.S. Strategic Investment Special Act, which took effect on June 18, 2026,” Minister Kim said. “This visit will allow us to set out more concrete directions for these projects and implement the Korea–U.S. tariff agreement as planned. We will do everything possible to keep bilateral trade relations stable.” date2026-07-22

Korean and Mongolian Organizations Sign MoUs at Business Forum

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) and Mongolian Deputy Prime Minister Togmid Dorjkhand attended a memorandum of understanding (MoU) signing ceremony in Ulaanbaatar on July 9, 2026, during President Lee Jae Myung’s state visit to Mongolia. The agreements covered critical minerals and energy, consumer goods and distribution, and digital technology and artificial intelligence. Minister Kim said MOTIR would support companies from both countries in identifying new business opportunities and delivering tangible results, particularly in consumer goods and distribution and critical mineral supply chains. date2026-07-13

Korea and Mongolia Strengthen Distribution, Logistics, and Critical Minerals Cooperation

1. Korea–Mongolia Ministerial Meeting on Industry and Mineral Resources Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Mongolian Minister of Industry and Mineral Resources Gongor Damdinnyam in Ulaanbaatar on July 10, 2026, during President Lee Jae Myung’s state visit to Mongolia. The ministers discussed ways to advance Korea–Mongolia cooperation on critical minerals. The ministers agreed that the Korea–Mongolia Rare Metals Cooperation Joint Committee and the Korea–Mongolia Rare Metals Cooperation Center, established under the rare metals supply chain cooperation MoU signed in February 2023, have supported information sharing and business cooperation between the two countries. They agreed to expand cooperation in mineral resources technology, workforce development, and business exchanges through the Cooperation Center to strengthen critical mineral supply chains and develop a mutually beneficial model for shared growth. The ministers also noted tangible progress, including the supply of Mongolian tungsten concentrate to Korea, and agreed to strengthen supply chain links. To build on the momentum from the state visit, the ministers agreed to upgrade the Korea–Mongolia Rare Metals Cooperation Joint Committee from a vice minister-level body to a ministerial consultative body co-chaired by the two ministers. They agreed to convene the upgraded Committee in the second half of 2026 and revise the MoU at the meeting to reflect the needs of Korean companies and relevant institutions and strengthen the institutional framework for bilateral mineral resources cooperation. With the ODA project for the Korea–Mongolia Rare Metals Cooperation Center scheduled to end in 2027, the ministers agreed to identify follow-up projects in joint research, workforce development, and business exchanges to sustain the Center as a long-term cooperation platform. They also agreed that the two governments would support cooperation between businesses and research institutions so that cooperation MoUs reached during the state visit—from critical mineral exploration and research to supply chain cooperation—lead to tangible results. At the meeting, Minister Kim emphasized that transparent information sharing and better logistics and transportation are essential to expanding Korean business activity in Mongolia and ensuring mutual benefits. Minister Damdinnyam said Korea is a key partner in developing Mongolia’s mineral resources and enhancing their value. He added that Mongolia would continue working to address difficulties faced by Korean companies. MOTIR will work with Mongolia to hold the upgraded Committee meeting in the second half of 2026 and continue consultations to deliver tangible results from bilateral mineral resources cooperation. 2. Roundtable with Mineral Resources Companies and Institutions Before the ministerial meeting, Minister Kim met with representatives of companies and institutions accompanying the presidential delegation to discuss cooperation with Mongolia on mineral resources. Participants included POSCO Holdings, POSCO International, LS, Hanwha Investment & Securities, the Korea Institute of Geoscience and Mineral Resources (KIGAM), the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR), and the Korea Trade-Investment Promotion Agency (KOTRA). Participants stressed the need to first address the information, logistics, and regulatory challenges Korean companies face when entering Mongolia. Minister Kim said the government would use the ministerial meeting and the Joint Committee to address these issues and improve the business environment. He also called on Korean companies to help ensure that the Korea-Mongolia Rare Metals Cooperation Center’s ODA project, which ends in 2027, serves not only as a platform for technical cooperation but also for business exchange date2026-07-10

Korea Holds WTO Consultations to Address Export Difficulties from Foreign Technical Regulations

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 second WTO Committee on Technical Barriers to Trade (TBT) meeting of 2026, held from July 7 to 10, 2026. During the meeting, the two agencies held multilateral and bilateral consultations to address export difficulties faced by Korean companies over foreign technical regulations. At the Committee, Korea raised eight foreign technical regulations as Specific Trade Concerns (STCs), citing their expected impact on Korean semiconductor, chemical, battery, display, and cosmetics exporters. The regulations included the European Union’s Packaging and Packaging Waste Regulation (PPWR), Single-Use Plastics Directive, and proposed restriction on per- and polyfluoroalkyl substances (PFAS); Indonesia’s National Standard (SNI) certification requirements for tires; and Vietnam’s Draft Decree on the Management of Cosmetics. At the Thematic Session on Lithium-ion Batteries, Korean experts served as chair and speaker, introducing Korea’s battery industry and leading discussions on industry concerns as companies respond to global battery regulations, including the EU’s Battery Regulation. “The government will continue to address difficulties faced by Korean exporters due to foreign technical regulations,” KATS President Kim Dae-ja said. “We encourage companies to make full use of the government’s TBT consultation channels to address export difficulties caused by foreign technical regulations.” date2026-07-09

Meeting with UAE Minister of Industry and Advanced Technology and ADNOC CEO

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates (UAE) and Group CEO of the Abu Dhabi National Oil Company (ADNOC), on July 8, 2026, in Seoul. The two sides discussed ways to stabilize critical resource supply chains and expand industrial cooperation. They also held a signing ceremony for the agreement on strategic cooperation between MOTIR and ADNOC on the crude oil supply chain, which covers stable crude oil supply, emergency response measures, and joint stockpiling. Minister Kim said Korea needs to further strengthen its strategic partnership with the UAE, a major energy supplier, while broadening cooperation into advanced industries such as AI so the two sides can deliver concrete outcomes. date2026-07-08