Ministry of Trade Industry and Resources

Korea–Japan New Economic Cooperation Seminar in the Age of Complex Crisis

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the Korea–Japan New Economic Cooperation Seminar in the Age of Complex Crisis, jointly hosted in Tokyo on April 22, 2026, by the Korea Economic Research Institute (KERI) of the Federation of Korean Industries (FKI) and Keidanren Policy Research Institute of Japan.  The seminar was organized to explore new directions for Korea–Japan economic cooperation amid rapid changes in the global environment. About 100 experts from both countries attended, including Chung Chul, President of KERI, and Masakazu Kubota, Vice Chair of Keidanren and Head of the Keidanren Policy Research Institute. “Korea and Japan face a common set of challenges, including the situation in the Middle East, strategic competition between the United States and China, and demographic pressures from low birth rates and aging populations. As middle powers with similar positions, the two countries should pursue coordinated efforts in supply chains, energy, AI, and trade agreements,” Trade Minister Yeo said. date2026-04-24

Meeting with Vietnam’s Minister of Industry and Trade

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Minister Le Manh Hung of Vietnam’s Ministry of Industry and Trade on April 22, 2026, on the occasion of President Lee Jae Myung’s state visit to Vietnam. The two sides discussed cooperation on the Ninh Thuan 2 nuclear power project and agreed to stay in close coordination on resource security and on building a cooperation framework for supply chains for rare earths and other critical minerals. “Vietnam is Korea’s third-largest trade and investment partner, and MOTIR will continue to strengthen economic ties and support business activity in both countries,” Minister Kim said. date2026-04-24

Meeting with Piyush Goyal, Minister of Commerce and Industry of India

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Piyush Goyal, Minister of Commerce and Industry of India, on April 20, 2026, at Bharat Mandapam Convention Centre in New Delhi, on the occasion of President Lee Jae Myung’s state visit to India. During the meeting, the two ministers discussed follow-up measures to the Korea–India summit, including the Korea–India Industrial Cooperation Committee, and exchanged views on ways to expand industrial cooperation between the two countries. Minister Kim said the Korean government would provide the institutional support needed to give Korea–India economic cooperation fresh momentum and create more business opportunities for companies in both countries. date2026-04-24

Korea and Poland Discuss Strengthening Supply Chain and Advanced Industry Cooperation

Deputy Minister for Trade Park Jung Sung of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Michał Jaros, Secretary of State at Poland’s Ministry of Economic Development and Technology, in Seoul on April 24, 2026, to discuss stronger Korea–Poland economic cooperation, with a focus on supply chains and advanced industries. The meeting took place shortly after the recent summit between the two countries and helped carry forward the momentum in bilateral relations built on the summit’s outcomes. Korea and Poland noted that bilateral trade and investment have grown steadily. Poland is one of Korea’s key trading partners in the European Union and the largest destination for Korean investment among the Visegrád Four, which also includes Hungary, Czechia and Slovakia. The two sides agreed to build on the industrial cooperation created by large-scale Korean battery investments, and work together to expand trade and achieve a more balanced trade structure. Korea emphasized that energy storage systems (ESS) are directly linked to energy security, and asked the Polish side to make greater use of batteries produced locally by Korean companies for ESS projects. MOTIR also requested Poland to consider making the battery industry eligible for support under its law on support for energy-intensive industries. Regarding the EU Battery Regulation, the ministry requested Poland’s continued support for predictable and reasonable implementing rules. As EU-level legislative discussions on the Industrial Accelerator Act (IAA) continue, the Korean government welcomed the principle of equal treatment for products from FTA partner countries. Korea also requested Poland’s cooperation to help ensure that the system is applied clearly and consistently at the EU level and that Korea’s views are taken into account. Korea and Poland also agreed that coordination is becoming more important as shifting global supply chains, intensifying strategic competition, and the energy transition bring economic and security issues more closely together. They noted that stable supply chains, technology cooperation and policy coordination will be increasingly important in strategic industries such as critical minerals, batteries and defense. “Korea and Poland have built a stable foundation for cooperation based on mutual trust,” Deputy Minister Park said. “We hope to continue expanding practical cooperation not only in strategic industries such as batteries, but also in supply chain stability and advanced technologies.” MOTIR will continue to strengthen cooperation with the Polish government to deliver concrete outcomes in key areas including supply chains, the energy transition and advanced industries. date2026-04-24

Korea and Vietnam Step Up Economic Cooperation in Nuclear Energy and Resource Security

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Korea Electric Power Corporation (KEPCO) and the Vietnam National Industry- Energy Group (Petrovietnam, PVN) signed an MOU on potential cooperation in new nuclear power development on April 22, 2026, during President Lee Jae Myung’s state visit to Vietnam. The agreement was exchanged at a ceremony witnessed by the two leaders. The MOU creates a basis for the entry of Korean-designed nuclear power plants into Vietnam. The two companies began formal nuclear cooperation in August 2025, when they signed an MOU on workforce development in the nuclear sector during General Secretary To Lam’s visit to Korea. The latest agreement expands that cooperation to new-build nuclear projects. Going forward, KEPCO and PVN will work together on the nuclear supply chain and project viability analysis for the Ninh Thuan 2 nuclear power project. Ahead of the summit, Minister JK Kim held an official meeting with Vietnam’s newly appointed Minister of Industry and Trade Le Manh Hung. They discussed cooperation on the Ninh Thuan 2 nuclear power project and agreed to stay closely coordinated on resource security and to build a cooperation framework for supply chains for rare earths and other critical minerals. At a separate roundtable earlier that morning with Korean nuclear and energy companies operating in Vietnam, companies raised two main issues: improving the institutional framework for LNG project financing and securing rare earth supplies. Minister Kim asked for Vietnam’s interest and cooperation in addressing those concerns. He also requested support to allow more Korean companies to participate in the construction of Vietnam’s crude oil storage facilities. The two sides also agreed to hold the 15th Korea–Vietnam Joint Committee on Industry and the 9th Joint Committee on the Korea–Vietnam FTA in Seoul in the first half of 2026. MOTIR and Vietnam’s Ministry of Industry and Trade are scheduled to sign an MOU on export control cooperation in Hanoi on April 23, 2026. Vietnam introduced an export licensing regime for strategic items in October 2025, which has been of particular interest to Korean companies operating there. The MOU will establish a regular communication channel between the two countries’ export control authorities and facilitate prior information-sharing on new control measures. This is expected to reduce uncertainty for Korean companies in Vietnam and help stabilize supply chains in advanced industries. MOTIR will continue to strengthen economic ties with Vietnam, Korea’s third-largest partner in trade and investment and a key manufacturing base for Korean exports, while supporting business activity in both countries. date2026-04-23

Korea Secures Record $82 Million in Export Deals with Vietnam, ASEAN’s Economic Engine

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Korea Trade-Investment Promotion Agency (KOTRA, President Kang Kyung-sung) held the Korea–Vietnam Business Partnership event at the National Convention Center (NCC) in Hanoi on April 23, 2026, on the occasion of President Lee Jae Myung’s state visit to Vietnam. The event was organized to support Korean small and medium-sized enterprises and middle-market companies entering the Vietnamese market, while broadening bilateral cooperation beyond manufacturing into advanced sectors such as bio and defense. It brought together more than 100 Korean companies and over 200 Vietnamese buyers across AI and semiconductors, bio and healthcare, content and consumer goods, and energy and environment. Participating companies signed 24 export deals worth approximately USD 82 million, the largest result since the Business Partnership program began in 2015. At the venue, Minister JK Kim visited the K-Lifestyle Showcase and the business support consultation center to encourage participating Korean companies. He noted that Vietnam is Korea’s third-largest trading partner and a key partner in supply chain cooperation, adding that the government would continue to support Korean companies in creating new business opportunities in Vietnam. The Korea–Vietnam Business Forum, jointly hosted by MOTIR and the Korea Chamber of Commerce and Industry (KCCI, Chairman Chey Tae-won), was also held later that day at the JW Marriott Hotel, with President Lee Jae Myung and Vietnamese Prime Minister Le Minh Hung in attendance. A total of 74 MOUs were exchanged at the forum across sectors including nuclear power, advanced industries and infrastructure. Doosan Enerbility signed an MOU with Vietnam’s PETROCONS on nuclear localization cooperation, establishing a basis for the introduction of nuclear power energy in Vietnam. Korea Electric Power Corporation (KEPCO) also revised its MOU with Vietnam Electricity (EVN) on power infrastructure cooperation to expand joint efforts on energy infrastructure development. In advanced industries, POSCO Future M received an Investment Registration Certificate (IRC) to build a plant for synthetic graphite anode materials, a key component of secondary batteries, in Thai Nguyen Province. Hyundai Motor Company and the Korea International Cooperation Agency (KOICA) signed an MOU with Vietnam’s Ministry of Education and Training to foster skilled workers for the automotive sector. Following the MOU signing ceremony, Samsung Electronics, SK Innovation, the Korea Institute of Science and Technology (KIST), and the Korea Institute for International Economic Policy (KIEP) discussed practical cooperation in areas such as Vietnam’s parts industry, AI and power infrastructure, science and technology, and talent development for advanced industries. MOTIR said it would continue follow-up discussions to ensure that the economic outcomes achieved during the state visit lead to tangible business opportunities for Korean companies, while maintaining close cooperation with the Vietnamese side. date2026-04-23

Korea–Japan Explore Economic, Trade and Investment Cooperation Amid Complex Crisis

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the Korea–Japan New Economic Cooperation Seminar in the Age of Complex Crisis, jointly hosted in Tokyo on April 22, 2026, by the Korea Economic Research Institute (KERI) of the Federation of Korean Industries (FKI) and Keidanren Policy Research Institute of Japan. During the event, Trade Minister Yeo delivered a keynote address on directions for Korea–Japan cooperation to help the two countries address shared challenges. The seminar was organized to explore new directions for Korea–Japan economic cooperation amid rapid changes in the global environment. About 100 experts from both countries attended, including Chung Chul, President of KERI, and Masakazu Kubota, Vice Chair of Keidanren and Head of the Keidanren Policy Research Institute. In his keynote address, Trade Minister Yeo said Korea and Japan face a common set of challenges, including the situation in the Middle East, strategic competition between the United States and China, and demographic pressures stemming from low birth rates and aging populations. He stressed that, as like-minded middle powers, the two countries should pursue coordinated efforts in supply chains, energy and resources, AI, and trade agreements. He then held a series of meetings with Korean companies operating in Japan. With major companies including LG Electronics, SK, S-OIL and POSCO, he discussed ways to strengthen Korea–Japan cooperation in resources, supply chains, and materials, parts, and equipment amid global uncertainty. He also met with startups entering the Japanese market, including PoPoKii in retail, Doctornow in telemedicine, and Willog in digital logistics. The discussions focused on support for Korean companies expanding into Japan and related government measures in consumer goods and digital services. Trade Minister Yeo also carried out investment promotion activities targeting promising Japanese investors. As part of those efforts, MOTIR will host an investment declaration ceremony marking approximately KRW 120 billion in new commitments by Tekscend Photomask Corp., a leading global producer of photomasks for advanced semiconductor processes. Photomasks are key components in semiconductor lithography. Tekscend Photomask has been supplying 28–32nm photomasks from Icheon, Gyeonggi Province. Under the new investment, it plans to build a third plant to mass-produce advanced products for processes below 14nm. The plant is scheduled to begin mass production in 2028 and is expected to help advance Korea’s semiconductor supply chain and strengthen competitiveness in advanced processes. Trade Minister Yeo will also hold a roundtable with five Japanese companies that have continued to invest in Korea’s advanced strategic industries, including semiconductors and displays: Tekscend Photomask Corp., JSR Corporation, AGC Inc., Tokyo Electron Co., Ltd., and AlpsAlpine Co., Ltd. The roundtable will review the status of each company’s investment project and hear about difficulties on the ground. At the meeting, Trade Minister Yeo will reaffirm the Korean government’s commitment to supporting foreign-invested companies through stronger incentives and regulatory improvements amid global uncertainty. He will also highlight Korea’s competitiveness and appeal as an investment destination for advanced industries amid supply chain restructuring and call for continued investment and closer cooperation. date2026-04-22

Korea and India Join Hands to Expand Cooperation in Advanced Industries

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) hosted the Korea–India Business Partnership on April 20, 2026, at Bharat Mandapam in New Delhi, on the occasion of President Lee Jae Myung’s state visit to India. President Lee delivered congratulatory remarks at the forum, which brought together leading business figures from both countries. The Korean side included around 250 executives, among them Lee Jae-yong, Executive Chairman of Samsung Electronics; Chung Eui-sun, Executive Chairman of the Hyundai Motor Group; Koo Kwang-mo, Chairman of LG; Chang In-hwa, CEO of POSCO HOLDINGS; and Chung Ki-sun, Chairman & CEO of HD Hyundai. The Indian side included around 350 business leaders, including Anant Goenka, President of the Federation of Indian Chambers of Commerce and Industry (FICCI); Vijay Sankar, Chairman of the Sanmar Group; Ravikant Ruia, Vice Chairman of the Essar Group; and Jayant Acharya, CEO of JSW Steel. The two governments were represented by Minister Kim of MOTIR and India’s Minister of Commerce and Industry Piyush Goyal. Companies from the two countries signed a total of 20 private-sector MOUs on the sidelines of the forum in sectors with strong demand for bilateral cooperation, including shipbuilding, green mobility, steel, energy and digital technology. In shipbuilding, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) signed an MOU with National Shipbuilding & Heavy Industries Park, Tamil Nadu (NSHIP, TN), and Sagarmala Finance Corp. Ltd. (SMFCL) to cooperate on key infrastructure and a joint venture for investment in a new shipyard in India. SMFCL is a non-banking financial company set up under India’s Ministry of Ports, Shipping and Waterways to support the shipbuilding sector. It plans to launch the Maritime Development Fund (MDF) by attracting outside investors. In green mobility, Hyundai Motor Company and TVS Motor Company signed an MOU to jointly develop eco-friendly three-wheeled electric vehicles. The two companies agreed to develop models tailored to the Indian market and work together to expand local adoption. In steel, POSCO HOLDINGS signed an MOU with JSW Group to form a joint venture for an integrated steel mill project in India with annual crude steel capacity of 6 million tons. In energy, GS Engineering & Construction signed an MOU with Ari Energy to repower aging wind farms in India by replacing old turbines with new, high-efficiency models. The projects are intended to increase power generation, efficiency and profitability. In digital technology, NAVER signed an MOU with Tata Consultancy Services (TCS) to expand digital transformation in the Indian market across AI, cloud and B2C services. The following day, MOTIR and the Korea Trade-Investment Promotion Agency (KOTRA, President Kang Kyung-sung) held another Korea–India Business Partnership event in New Delhi. The event brought together more than 40 Korean companies and over 100 Indian companies from manufacturing, Korean Wave-related industries and advanced sectors, and resulted in 14 deals worth about USD 48 million. The forum is expected to broaden and deepen industrial cooperation between Korea and India and help elevate the bilateral partnership to a new stage. Minister Kim said the government would provide full institutional support so that Korea–India economic cooperation can gain fresh momentum and create more business opportunities for companies in both countries. date2026-04-21

Korea and India Upgrade Cooperation in Industry, Energy and Resources

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that, on the occasion of the Korea–India summit held during President Lee Jae Myung’s state visit to India on April 20, 2026, the two countries agreed to build stable supply chains for key energy resources, including naphtha. The two sides also signed four memoranda of understanding covering the establishment of an industrial cooperation committee, the resumption of negotiations on the Comprehensive Economic Partnership Agreement (CEPA), steel cooperation, and climate change mitigation. 1. Korea–India Joint Statement on Energy and Resource Security Cooperation MOTIR adopted an annex to the Korea–India Joint Statement on Energy and Resource Security Cooperation with India, Korea’s fifth-largest source of naphtha imports and the top export market for Korean base oils. The annex sets out cooperation to build stable supply chains across the resource value chain, including petroleum products, and marks Korea’s first bilateral resource-sector cooperation outcome reached with a partner government since tensions escalated in the Middle East. Under the annex, MOTIR will support Korean companies in consultations with India on naphtha supply and expand similar cooperation with other resource-rich countries. 2. Korea and India Sign MOU to Launch Industrial Cooperation Committee Minister JK Kim of MOTIR and India’s Minister of Commerce and Industry Piyush Goyal signed an MOU to launch a Korea–India Industrial Cooperation Committee, the first regular ministerial-level consultative body for bilateral economic cooperation. The committee will discuss cooperation projects and measures to address business concerns facing Korean companies in India across trade and investment, industrial cooperation, strategic resources, and clean energy. Key agenda items include licensing delays and unpaid state-level incentives. The committee will also cover concrete cooperation plans in sectors where companies from both countries see strong demand, including semiconductors, shipbuilding and nuclear power. 3. Korea and India Sign Joint Declaration to Accelerate CEPA Upgrade Talks Trade Minister Yeo Han-koo of MOTIR and India’s Minister of Commerce and Industry Piyush Goyal signed a joint declaration to accelerate negotiations to upgrade the Korea–India CEPA. The two sides agreed to resume upgrade talks, which had effectively stalled after the 11th round in July 2024, by holding the 12th round in May 2026 and regularizing follow-up negotiations. The two sides will work to create a more business-friendly trade environment through the existing negotiating tracks on goods, services, and rules of origin, while also pursuing new tracks on digital trade and supply chain cooperation. 4. Korea and India Sign Steel Cooperation MOU Minister JK Kim of MOTIR and India’s Minister of Steel H.D. Kumaraswamy signed a Korea–India Steel Cooperation MOU. The MOU is intended to strengthen cooperation with India, Korea’s fifth-largest export market for steel products, and support Korean steelmakers’ investment and business expansion in India, including POSCO Holdings’ planned integrated steel mill with an annual capacity of six million tons. The two countries will also launch a Korea–India public-private steel dialogue to discuss export-related difficulties and the transition to lower-carbon production processes. 5. Korea and India Sign Article 6.2 MoC under Paris Agreement Minister JK Kim of MOTIR and India’s Minister of Environment, Forest and Climate Change Bhupender Yadav signed a Korea–India Memorandum of Cooperation (MoC) under Article 6.2 of the Paris Agreement. The MoC establishes a bilateral framework for transferring emissions reductions generated by Korean companies’ projects in India to Korea, giving Korean companies a basis to ent date2026-04-21

Korea and the EU Hold 13th FTA Trade Committee and First Strategic Dialogue

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the 13th Korea–EU FTA Trade Committee and the first Strategic Dialogue on Trade, Supply Chains and Technology at the Four Seasons Hotel Seoul on April 17, 2026, where he delivered opening remarks and discussed trade issues including steel and the Industrial Accelerator Act (IAA), as well as new trade agenda items such as critical minerals and semiconductors. The meetings were attended by Maroš Šefčovič, European Commissioner for Trade and Economic Security, and officials from Korea and the EU. Trade Minister Yeo said, “Today’s meetings mark an important turning point in broadening Korea–EU cooperation beyond traditional trade into a next-generation strategic partnership on economic security, supply chains, and advanced technologies. We will continue to use both high-level and working-level channels to improve predictability for Korean companies in the EU market and work closely with the EU toward a free and fair trade environment.” date2026-04-17