Ministry of Trade Industry and Resources

Korea to Expand Cooperation with Guangdong, China’s Largest Regional Economy

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that Deputy Minister for Trade Park Jong-won will visit Guangdong Province, China, from October 20 to 21 to attend the 10th Korea–Guangdong Development Forum and hold bilateral talks with Zhang Guozhi, Deputy Governor of Guangdong Province, to strengthen economic and industrial cooperation with China’s largest provincial economy. Guangdong ranks first among China’s 31 provinces and municipalities in both gross regional domestic product (GRDP) and foreign trade volume. Last year, Korea–Guangdong trade totaled about USD 57.6 billion, exceeding Korea’s trade with its sixth-largest partner, Australia (USD 45.6 billion), and accounting for 18 percent of total Korea–China trade, the second-largest share after Jiangsu Province. About 1,600 Korean companies, including Hyundai Motor’s hydrogen fuel cell plant and LG Display’s OLED plant, currently operate in the province. The Korea–Guangdong Development Forum, now in its 10th year, is the first high-level cooperation platform between the Korean and Chinese local governments. This year’s forum will bring together officials from both governments, business associations, and companies to share investment policies and discuss cooperation in emerging industries such as hydrogen, AI, and biotech, as well as strategies for Korean companies to expand into China’s domestic market. In his congratulatory remarks, Deputy Minister Park will emphasize that amid global trade uncertainty and the diversification of Korea–China industrial relations, strengthening cooperation with Chinese provincial governments is vital to creating new business opportunities. He will propose deeper collaboration with Guangdong, China’s hub for advanced industries, in hydrogen, AI, and biotech, to promote mutual growth through expanded trade and investment. Deputy Minister Park will also meet with Deputy Governor Zhang Guozhi to discuss support for Korean companies operating in Guangdong, as well as ways to enhance supply chain stability and cooperation in new industries. He will express appreciation for Guangdong’s assistance in maintaining stable trade relations despite the recent strengthening of export controls and emphasize the importance of continuing such collaboration. MOTIR stated that it will continue to strengthen partnerships with major Chinese provincial governments to promote practical cooperation that supports Korean companies’ business activities in China.   date2025-10-20

MOTIR Explores Investment Cooperation with Japanese Advanced Materials, Parts, and Equipment Companies

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan), together with the Korea Trade-Investment Promotion Agency (KOTRA, President and CEO Kang Kyung-sung), hosted the Korea–Japan Investment Forum on Friday, October 17, at The Okura Tokyo. The forum aimed to attract investment from Japan’s advanced materials, parts, and equipment companies into Korea. This event marked MOTIR’s second major overseas investment promotion this year, following the Korea–France Investment Forum in September. The event brought together approximately 150 participants, including executives from leading Japanese high-tech companies such as Tokyo Electron (TEL), Mitsui Chemicals, and Tokyo Ohka Kogyo (TOK). Participants discussed Korea’s advanced industry trends, foreign investment environment, and opportunities for Korea–Japan technological collaboration, while also sharing success stories and exploring future investment partnerships. In particular, global semiconductor equipment maker TEL drew strong attention by presenting its successful investment experience in Korea. Since entering the Korean market in 2006, TEL has focused on semiconductor equipment supply and R&D, maintaining close collaboration with Korea’s major semiconductor anchor companies. In his opening remarks, MOTIR’s Director General for Investment Policy Yoo Beop-min emphasized, “By combining Japan’s technological strength in materials, parts, and equipment with Korea’s advanced manufacturing capabilities, the two countries can jointly achieve supply chain stability and innovation in high-tech industries.” He added, “The Korean government will further strengthen cash grants and other incentives for foreign investors contributing to supply chain resilience, technological advancement, and job creation, while working to remove regulatory barriers to make Korea one of the most business-friendly countries in the world.”   date2025-10-17

Korea and Sweden Discuss Strategic Cooperation Amid Global Trade Shifts

Vice Minister of Trade, Industry and Resources Moon Shin-hak attended the Korea–Sweden Sustainable Partnership Summit, held at the Grand Hyatt Seoul on Thursday, October 16, as part of economic events marking the visit of Swedish Crown Princess Victoria to Korea.   The annual summit, launched following reciprocal visits by the leaders of both countries in 2019, aims to strengthen bilateral economic cooperation. This year’s discussions focused on strategic collaboration to enhance sustainability and resilience in response to global trade challenges such as climate change, energy transition, and rising geopolitical tensions. The event brought together around 200 participants, including Crown Princess Victoria and Prince Daniel of Sweden, government officials, and major business leaders from both countries. Participants exchanged views on the role of leadership in building a resilient future and on linking AI with sustainability. In addition, three memoranda of understanding (MOUs) were signed between Korean and Swedish companies and research institutes in the Fields of HVCD, power semiconductor, and offshore wind, creating a foundation for mutually beneficial private-sector cooperation. In his congratulatory remarks, Vice Minister Moon emphasized the need for Korea and Sweden to strengthen their strategic partnership grounded in pragmatism amid growing global trade uncertainty. He stated, “Through this summit, the two countries should develop a practical roadmap that encompasses both sustainability and security to generate new growth momentum, and the Korean government will fully support future-oriented cooperation with Sweden.”   date2025-10-16

MOTIR Minister Meets Kazakh Deputy Prime Minister to Discuss Industrial and Trade Cooperation

Minister of Trade, Industry and Resources Kim Jung-kwan met with Kazakhstan’s Deputy Prime Minister Kanat Bozumbayev on Wednesday, October 15, at the Lotte Hotel Seoul to discuss key issues in bilateral economic and trade cooperation. Deputy Prime Minister Bozumbayev was accompanied by four senior officials, including Sayasat Nurbek, Minister of Science and Higher Education, and Olzhas Saparbekov, Vice Minister of Industry and Construction. Minister Kim and Deputy Prime Minister Bozumbayev noted the close and mutually beneficial relationship that has developed between the two countries since the establishment of diplomatic ties in 1992. They agreed on the need to further strengthen cooperation in various fields, including manufacturing, plant construction, and critical mineral supply chains, amid rapidly changing global trade conditions. During the meeting, Minister Kim proposed expanding collaboration in manufacturing and raised business concerns regarding the lack of logistics infrastructure for Kia’s new operations in Kazakhstan and the circulation of counterfeit Korean home appliances. He requested the Kazakh government’s attention and support to resolve these issues promptly. On plant sector cooperation, Minister Kim called for greater participation by Korean companies in new projects and support for ongoing construction projects. Regarding critical mineral supply chains, he suggested enhancing cooperation through the establishment of the Rare Metals Technology Cooperation Center, which will be supported by MOTIR’s official development assistance (ODA) program beginning next year. On Kazakhstan’s Alatau City development project, Minister Kim emphasized that Korea possesses advanced technologies and extensive experience in areas such as eco-friendly development, artificial intelligence, and future mobility, and expressed hope to continue close cooperation in these fields.   date2025-10-16

Korea and UK Discuss Trade Cooperation Amid Global Trade Shifts

The Ministry of Trade, Industry and Resources (MOTIR) announced that Minister for Trade Yeo Han-koo held a video conference on October 1 with Chris Bryant, the UK Minister of State at the Department for Business and Trade, following Minister Bryant’s request for an introductory meeting. The two sides exchanged views on expanding bilateral cooperation and addressing major trade issues under the current uncertain global trade landscape. The UK is Korea’s sixth-largest trading partner in Europe, with bilateral trade reaching USD 11.21 billion in 2024 under the Korea–UK FTA signed after Brexit. The UK also ranks as Korea’s third-largest European investor (cumulative as of 2024), with active two-way investment between companies serving as a key driver of growth in both economies. Minister Yeo congratulated Minister Bryant on his appointment and expressed hope for close communication amid the uncertain global trade environment. He also discussed compromise measures to ensure a balanced reflection of both sides’ key interests to reach an early conclusion of the Korea–UK FTA FTA amendment negotiations, and exchanged views on the UK’s trade issues, including its trade agreement and large-scale investment agreements. Minister Yeo further emphasized the need for measures to ease corporate burdens, such as adjusting reporting cycles, in relation to the UK’s introduction of a carbon border adjustment mechanism (CBAM). He conveyed Korean industry’s concerns and requests regarding the UK’s strengthened steel safeguard measures and electric vehicle subsidy program, and called for cooperation and support from the UK government, along with continued bilateral consultations.   date2025-10-02

Korea and Uzbekistan Sign MOU to Strengthen Cooperation on Technical Regulations

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Energy signed a Memorandum of Understanding (MOU) on September 30 with the Uzbek Agency for Technical Regulation (Director Akmal Jumanazarov) to strengthen cooperation on technical regulations. The MOU expands bilateral cooperation on exchanging information and resolving issues related to technical regulations into a formal cooperation framework, aimed at easing technical barriers to trade (TBT) and supporting mutual market entry. This marks a significant step forward from the previous practice of relying only on case-by-case consultations. Uzbekistan was the fourth-largest source of technical regulation difficulties for Korean companies last year. As a non-WTO member and a country without a free trade agreement (FTA) with Korea, there had been no official negotiation channel, making companies dependent on individual consultations. For example, in March this year, exports of home appliances faced customs delays due to requirements for “certification by container,” but the issue was resolved through consultations between the two sides by adopting a representative model sampling inspection method. Under the MOU, the two countries will operate an annual joint expert working group with both government and private-sector participation to regularly discuss regulatory issues, focusing on major export items such as textiles and home appliances, and to develop concrete cooperation measures. A business roundtable was also held, with participation from Korean companies such as Samsung Electronics and LG Electronics, where they discussed local regulatory trends, shared challenges, and explored countermeasures. KATS President Kim Dae-ja stated, “This MOU will strengthen Korea–Uzbekistan cooperation on technical regulations, helping to reduce procedural uncertainties and export hurdles for Korean companies. Through regular consultation channels, we will respond more swiftly to local regulations, support business activities, and contribute to enhancing trade and industrial competitiveness.”   date2025-09-30

13th East Asia Summit (EAS) Economic Ministers’ Meeting

Yeo Han-koo, Minister for Trade at the Ministry of Trade, Industry and Energy (MOTIE), attended the 13th East Asia Summit (EAS) Economic Ministers’ Meeting held at the Kuala Lumpur Convention Centre in Malaysia on Thursday, September 25, 2025.  The meeting brought together economic ministers from 18 countries, including ASEAN member states such as Malaysia, Indonesia, and Singapore, as well as the United States, China, and Japan.  Minister Yeo emphasized the need to focus discussions on practical areas such as open plurilateralism and called for active participation and engagement of EAS members in the upcoming APEC Summit.   date2025-09-29

5th Korea–Saudi Vision 2030 Committee Meeting

Korea and Saudi Arabia, the Middle East’s largest economy and a key Global South market, are set to expand their economic cooperation across core manufacturing industries, AI and other advanced sectors, and culture and entertainment. Kim Jung-kwan, Minister of Trade, Industry and Energy of Korea, and Khalid Al-Falih, Minister of Investment of Saudi Arabia, co-chaired the 5th Korea–Saudi Vision 2030 Committee Meeting on Friday, September 26 at Lotte Hotel Seoul, with participation from 11 ministries of both governments. This was the first meeting held in Seoul in two years, since the 4th Committee in October 2023. The Committee was launched in 2017 under the Korea–Saudi Vision 2030 Memorandum of Cooperation (MoC) as an inter-ministerial platform to manage key cooperation projects, address challenges, and support collaboration among governments, institutions, and companies. The Committee is structured around six subcommittees: overall cooperation, manufacturing and energy, smart infrastructure and digital, capacity building, healthcare, and SMEs and investment. At this meeting, the two sides reviewed the implementation status of 46 existing projects and identified 11 new cooperation projects. While Korea–Saudi economic ties have traditionally centered on crude oil imports and construction contracts, the Committee has expanded the scope of cooperation to include core manufacturing industries such as automobiles and shipbuilding. For example, HD Hyundai Heavy Industries and Saudi Aramco are jointly building the region’s largest shipyard, International Maritime Industries (IMI), at the King Salman Maritime Industries Complex (12 million m²), scheduled for completion in the first half of next year. A joint venture ship engine assembly plant is also expected to be completed by the end of next year. In addition, Hyundai Motor Company and Saudi Arabia’s Public Investment Fund (PIF) broke ground in May this year on an automobile manufacturing plant in King Abdullah Economic City, aiming for mass production in the first half of 2027. The new projects identified at this meeting in shipbuilding and automobiles will build on these achievements. In shipbuilding, cooperation across the value chain—from engine assembly to vessel construction—will be extended to the joint development of advanced eco-friendly technologies to reduce carbon emissions. In automobiles, cooperation will deepen beyond local assembly to encompass R&D in engine and hybrid vehicle technologies, establishment of hydrogen vehicle fuel quality management systems, and other areas, together forming a comprehensive ecosystem covering complete vehicles, core technologies, fuels, and standards. Collaboration in AI and advanced industries, as well as culture and entertainment, is also expected to accelerate. In February, Naver, through its joint venture with the Saudi National Housing Company (NHC), established digital twin platforms in major cities such as Jeddah, Mecca, and Medina. Naver plans to enhance these platforms by integrating AI to provide comprehensive smart city services spanning transportation, energy, and safety management. Leading Korean AI semiconductor companies such as Rebellions and FuriosaAI are also exploring cooperation with Saudi Arabia’s state-owned AI company, Humane, in digital transformation and AI innovation. Meanwhile, projects in film, e-sports, and tourism will further strengthen bilateral ties in culture and entertainment. Minister Kim emphasized, “We will establish and operate ongoing communication channels within each subcommittee to ensure seamless implementation of cooperation projects, and closely link existing and new projects to maximize synergy. Going forward, we will broaden the scope of cooperation into AI, advanced industries, and soft power, where the two countries hold significant potential.”   date2025-09-26

95th Saudi National Day Celebration

Kim Jung-kwan, Minister of Trade, Industry and Energy, attended the 95th Saudi National Day celebration held at Seoul Dragon City in Yongsan-gu, Seoul on Monday, September 22, 2025. The event was attended by over 400 participants, including Fahad Baraka, Chargé d'Affaires of the Embassy of Saudi Arabia in Korea, government representatives from both countries, ambassadors from key nations, and business leaders. Minister Kim delivered congratulatory remarks at the ceremony.   date2025-09-24

7th Round of Korea–Thailand Comprehensive Economic Partnership Agreement (CEPA) Negotiations

Noh Geon-gi, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy (MOTIE), attended the 7th round of official negotiations for the Korea–Thailand Comprehensive Economic Partnership Agreement (CEPA) held at Lotte Hotel in Sogong-dong, Seoul on Monday, September 22, 2025. The meeting was attended by Chotima Iemsawasdikul, Director-General of the Department of Trade Negotiations at Thailand’s Ministry of Commerce, along with government delegations from both countries. Following opening remarks, the two sides proceeded with negotiations in seven areas, including goods, services, investment, digital, and finance. date2025-09-24