Ministry of Trade Industry and Resources

Korea and ASEAN Discuss Ways to Deepen Economic and Trade Cooperation

Yeo Han-koo, Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held talks with the ASEAN Committee in Seoul (ACS) at the Korea Chamber of Commerce and Industry (KCCI) on May 18, 2026, to discuss ways to deepen economic and trade cooperation between Korea and ASEAN. The meeting focused on practical ways to expand trade with ASEAN, Korea’s second-largest trading partner, upgrade the Korea–ASEAN Free Trade Agreement (FTA) and strengthen supply chain cooperation. The talks also reaffirmed the need for closer communication and coordination between the two sides as external uncertainties grow, including instability in the Middle East. Both sides first discussed ways to expand trade. They noted that ASEAN is one of Korea’s key economic and trade partners and a fast-growing market, and agreed to broaden two-way trade into more diverse sectors. They also reviewed negotiations to upgrade the Korea–ASEAN FTA. Since taking effect in 2007, the agreement has underpinned growth in two-way trade and investment. Minister Yeo said the FTA should reflect recent shifts in the global trade environment and be modernized with a broader framework, including digital provisions that were not part of the original agreement. He added that Korea will work to deliver substantive outcomes by 2027, which will mark ASEAN’s 60th anniversary, the 20th anniversary of the FTA’s entry into force and the 30th anniversary of Korea–ASEAN summit meetings. They also exchanged views on risks to global supply chains stemming from recent developments in the Middle East. Recognizing that Korea and ASEAN are linked as both suppliers and markets for each other, not through a one-way trade relationship, they agreed to keep strengthening supply chain cooperation in times of crisis. The Korean government will continue working with ASEAN, Korea’s key economic cooperation partner, to deliver practical outcomes in trade expansion, the Korea–ASEAN FTA upgrade and supply chain cooperation. date2026-05-18

Korea–Mexico Business Roundtable

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) chaired the Korea–Mexico Business Roundtable at the Sheraton Maria Isabel Hotel in Mexico on May 12, 2026.  The meeting brought together major business leaders from the two countries, including representatives from the Business Coordinating Council (CCE), the Mexican Business Council for Foreign Trade, Investment and Technology (COMCE), the Employers’ Confederation of the Mexican Republic (COPARMEX), and the Mexican Automotive Industry Association (AMIA).  Participants discussed ways to strengthen Korea–Mexico economic cooperation and build private-sector support for the Korea–Mexico FTA. The roundtable also provided a venue for business networking and raised private-sector interest in advancing the FTA. date2026-05-14

Meeting with Mexican Senators

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Mexican senators at the Senate of the Republic in Mexico on May 13, 2026. The meeting was attended by Senator Yeidckol Polevnsky, Chair of the Asia-Pacific Foreign Relations Committee; Senator Emmanuel Reyes, Chair of the Economic Affairs Committee; and Senator Rolando Zapata. The two sides discussed ways to strengthen Korea–Mexico economic cooperation. Trade Minister Yeo underscored the importance of Korean companies invested in Mexico and asked for support in advancing the Korea–Mexico FTA. date2026-05-14

Meeting with the Chief of Staff to the President of Mexico

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Lázaro Cárdenas Batel, Chief of Staff to the President of Mexico, at his office in Mexico on May 13, 2026. Trade Minister Yeo conveyed difficulties faced by Korean companies operating in Mexico and asked Chief of Staff Cárdenas for support in resuming Korea–Mexico FTA negotiations. date2026-05-14

Meeting with Former Senior Mexican Trade Officials on Korea–Mexico FTA

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Juan Carlos Baker Pineda, former Vice Minister for Foreign Trade of Mexico, and Roberto Zapata Barradas, former Ambassador and Permanent Representative of Mexico to the World Trade Organization (WTO), at the Sheraton Maria Isabel Hotel during his visit to Mexico on May 12, 2026. The meeting focused on the need for a Korea–Mexico FTA and ways to build support for resuming negotiations, as Korea and Mexico seek to improve and modernize their trade and investment relationship. date2026-05-14

Meeting with Mexico’s Secretary of Economy

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Marcelo Ebrard, Mexico’s Secretary of Economy, at the Ministry of Economy in Mexico on May 12, 2026.  The two sides discussed difficulties faced by Korean companies operating in Mexico and ways to resume Korea–Mexico FTA negotiations.  The two sides agreed to improve and modernize the current trade and investment relationship, and to establish a ministerial Strategic Dialogue and a working-level Working Group between their trade authorities.  date2026-05-14

Korea–EU Trade Ministerial Meeting

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Maroš Šefčovič, European Commissioner for Trade and Economic Security, at the European Commission headquarters in Brussels, Belgium, on May 11, 2026. “The government will use its full trade policy capacity to help Korean companies operating overseas invest with stability and remain competitive,” Trade Minister Yeo said. He added that MOTIR will continue to raise industry concerns through Korea–EU high-level consultations and follow-up working-level channels, while continuing discussions to ease regulatory burdens and improve market access. date2026-05-14

Trade Minister Seeks EU Cooperation on Steel TRQs, Steps Up Outreach for Korea–Mexico FTA

Yeo Han-koo, Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Maroš Šefčovič, European Commissioner for Trade and Economic Security, in Brussels, Belgium, on May 11, 2026, and conveyed Korean industry’s concerns over the EU’s planned steel import restrictions. As the EU prepares to implement a new steel measure in July 2026 to address overcapacity, including higher duties and tariff-rate quotas (TRQs) for 30 steel product categories, Minister Yeo requested the EU to take a careful, cooperative approach so Korean steel products are not subject to undue restrictions. Minister Yeo stressed that the EU is Korea’s second-largest steel export market and expressed serious concern that the measure could affect not only the steel industry, but also supply chains and stable production at Korean companies in Europe that manufacture finished goods, including automobiles and home appliances. The EU side agreed that steel is strategically important to both Korea and the EU, and said the two sides would continue to seek mutually beneficial solutions through high-level and working-level consultations. Ahead of the meeting, Minister Yeo met with Korean companies operating in the EU on May 10, 2026, to review business conditions and on-the-ground challenges in key industries, including steel, automobiles, and batteries. Companies said the EU’s tighter industrial and environmental regulations, including the Industrial Accelerator Act (IAA), the Carbon Border Adjustment Mechanism (CBAM), and steel import restrictions, are increasing local business burdens. They highlighted the need for government negotiations and support, expressing particular concern that planned steel import restrictions could extend the burden beyond steelmakers to downstream industries, including automobiles and home appliances. Korean battery companies operating in Poland said the EU’s decision in December 2025 to make the battery industry eligible for support as an “energy-intensive industry,” together with Poland’s follow-up legislative work, is expected to help ease electricity costs and reduce manufacturing costs. The companies said the outcome reflected close consultations among the Korean government, the European Commission and the Polish government, and requested continued government attention and support on protectionist measures, including tighter EU steel import restrictions. This outcome is a result of the government's sustained trade outreach to the EU and Poland. Through various consultation channels — including meetings with the EU Trade Commissioner and senior officials at Poland's Ministry of Economic Development and Technology — the Korean government had repeatedly called for the inclusion of the battery industry in the EU's list of supported "energy-intensive industries." Minister Yeo said, “The government will use its full trade policy capacity to help Korean companies operating overseas invest with stability and remain competitive.” He added that MOTIR will continue to raise industry concerns through Korea–EU high-level consultations and follow-up working-level channels, while continuing discussions to ease regulatory burdens and improve market access. Minister Discusses Mexico Tariff Issues, USMCA Review and Korea–Mexico FTA Minister Yeo visited Mexico from May 12 to 13, 2026, and met with government, parliamentary, and business leaders to build support for a Korea–Mexico FTA and create momentum for negotiations. Minister Yeo first met with Marcelo Ebrard, Mexico’s Secretary of Economy, and raised concerns over difficulties faced by Korean companies with manufacturing operations in Mexico for exports to the United States and Latin American markets, including Brazil, following Mexico’s tariff hikes on non-FTA partners. He date2026-05-14

Korea and UAE Hold Forum on Investment in AI Infrastructure and Semiconductors

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) and the National Artificial Intelligence (AI) Strategy Committee held the Korea-UAE Investment Forum on AI Infrastructure and Semiconductors in Seoul on May 13, 2026. Following Korea’s state visit to the UAE in November 2025, the two countries formed a public-private working group and have since discussed cooperation across the AI ecosystem, including infrastructure, models and services. The forum was held to build on those discussions and translate them into practical outcomes. A 25-member UAE delegation, led by H.E. Mohamed Abdul Rahman AlHawi, Undersecretary of the UAE Ministry of Investment, visited Korea for the forum. The delegation included senior representatives from Core42, MGX, the Advanced Technology Research Council (ATRC), the Technology Innovation Institute (TII), Mubadala and the Abu Dhabi Investment Authority (ADIA). H.E. Abdulla Saif Al Nuaimi, UAE Ambassador to Korea, also attended. At a high-level meeting, senior officials from both sides recognized the need for strategic cooperation to develop the AI ecosystem as global competition in AI continues to evolve rapidly. A high-level panel discussion then covered areas where the two countries can combine their strengths, including low-power, high-efficiency AI infrastructure using AI semiconductors such as neural processing units (NPUs), as well as specialized services and demonstrations based on local-language AI models. In the afternoon session, Korean companies introduced their technologies and business models through investment presentations on AI semiconductors, infrastructure and AI technologies. These were followed by business briefings, matching sessions and networking, giving companies from both countries an opportunity to discuss concrete investment cooperation. The Korean government plans to continue follow-up discussions so that the forum leads beyond a one-off exchange to tangible results, including complementary technology development and joint entry into overseas markets. “Competitiveness in the AI era depends not only on building AI infrastructure, but also on the ability to apply it in industrial settings,” said Kim Sung-youl, Deputy Minister for Industry and Growth at MOTIR. “The UAE brings strategic investment capacity and experience in large-scale projects, while Korea brings strengths in AI semiconductors, data centers and manufacturing. We will help the two sides identify practical opportunities in AI infrastructure and industrial AI, and support efforts to expand this cooperation into global markets.” “The UAE and the Republic of Korea have built a forward-looking partnership around a shared vision for future industries,” said H.E. Mohamed Abdul Rahman AlHawi, Undersecretary of the UAE Ministry of Investment. “That cooperation has gained strong momentum since the UAE announced its USD 30 billion investment commitment to Korea in 2023.” He added, “Major energy and AI projects, including Korea’s role in the Barakah Nuclear Energy Plant and Korean participation in the Stargate AI Data Center Campus project in the UAE, already show the strategic value of the partnership. This visit is expected to help extend cooperation across the AI value chain.” date2026-05-13

Korea-UAE Investment Forum on AI Infrastructure and Semiconductors

Kim Sung-youl, Deputy Minister for Industry and Growth at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the Korea-UAE Investment Forum on AI Infrastructure and Semiconductors in Seoul on May 13, 2026. The forum brought together Ryu Je-myung, Second Vice Minister of Science and ICT at the Ministry of Science and ICT (MSIT); H.E. Mohamed Abdul Rahman AlHawi, Undersecretary of the UAE Ministry of Investment; and officials and business representatives from Korea and the UAE. “Competitiveness in the AI era depends on both AI infrastructure and the ability to apply it in industry,” Deputy Minister Kim said. “By combining the UAE’s investment capacity and large-scale project experience with Korea’s strengths in AI semiconductors, data centers and manufacturing, we will help identify practical opportunities in AI infrastructure and industrial AI and support efforts to expand this cooperation into global markets.” date2026-05-13