Ministry of Trade Industry and Resources

11th Korea–Chile Free Trade Commission Meeting

Park Keun-oh, Director General for Trade Agreement Policy at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the 11th Korea–Chile FTA Free Trade Commission meeting at the Korea International Trade Association (KITA) in Seoul on October 19, 2026. Director General Park led the Korean government delegation, while the Chilean delegation was led by Felipe Lopeandía Wielandt, Director General for Bilateral Economic Affairs at Chile’s Ministry of Foreign Affairs. After delivering opening remarks, the two sides reviewed FTA implementation, including progress on product-specific rules of origin (PSRs) and the exchange of FTA utilization statistics. The two sides also discussed ways to advance negotiations on upgrading the Korea–Chile FTA in areas such as minerals cooperation. date2026-10-19

17th Round of Korea–China FTA Follow-up Negotiations on Services and Investment

Kwon Hye-jin, Deputy Minister for Trade Negotiations at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the 17th round of follow-up negotiations on services and investment under the Korea–China Free Trade Agreement (FTA) in Seoul on October 15, 2026. Deputy Minister Kwon and Chen Chao, Director General of the Department of International Trade and Economic Affairs at China’s Ministry of Commerce, served as chief negotiators for their respective government delegations.  “We will work to improve conditions for Korean companies entering overseas markets, including by securing substantive results in sectors such as audiovisual and financial services on the basis of reciprocal market opening,” Deputy Minister Kwon said. “We will continue in-depth discussions on areas of mutual interest to make progress in the negotiations that aligns with Korea’s national interests, and do our utmost to build on that progress to further strengthen the foundation for bilateral economic cooperation.” date2026-10-16

Korea and Saudi Arabia Strengthen Business Cooperation in Future Advanced Industries

The 2026 Saudi-Korea Business & Investment Forum, sponsored by the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), was held in Seoul on October 6, 2026. The forum brought together around 250 business leaders from the two countries to discuss deepening cooperation in infrastructure and energy, as well as expanding cooperation in advanced industries such as electric vehicles (EVs), artificial intelligence (AI), healthcare and defense. Saudi Arabia is Korea’s largest crude oil supplier and a key economic partner in the Middle East. The forum was held to strengthen the bilateral partnership as Saudi Arabia pursues industrial upgrading and economic diversification under its Vision 2030 national strategy. The forum centered on four areas: advanced industries; telecommunications, media and healthcare; utilities, resources and logistics; and special zone development and construction. Participating companies presented investment proposals and held one-on-one business meetings to explore and discuss practical ways for companies to cooperate. About 20 major Saudi companies attended, including Ceer, Saudi Arabia’s first EV manufacturer; Saudi Telecom Company (STC), the country’s largest telecommunications provider; and Saudi Arabian Military Industries (SAMI), the state-owned defense company. About 90 Korean companies already working with Saudi partners or exploring new opportunities for cooperation also participated and engaged in active discussions. In his congratulatory remarks, Minister for Trade Park Jung-sung said, “The solid trust Korea and Saudi Arabia have built will be the surest way to turn crises into opportunities amid complex challenges posed by geopolitical tensions, the AI revolution and protectionism. We will use the AI transformation as an opportunity to accelerate cooperation in advanced industries, while strengthening the institutional foundation for broader trade and investment between companies in the two countries, including by working toward the swift entry into force of the Korea–GCC FTA.” date2026-10-06

9th Global Forum on Steel Excess Capacity

Minister for Trade Park Jung-sung of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the 9th Global Forum on Steel Excess Capacity (GFSEC) in Milwaukee, Wisconsin, on September 30, 2026. Trade ministers and senior representatives from 33 countries, including the United States, the EU, Australia and Türkiye, attended the meeting. Minister Park stressed that addressing excess capacity requires adherence to basic principles, including voluntary corporate restructuring and WTO-consistent trade remedies, while strengthening cooperation among GFSEC members to build resilient supply chains. date2026-10-05

G20 Trade Ministerial

Minister for Trade Park Jung-sung of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the G20 Trade Ministerial held in Milwaukee, Wisconsin, on September 30, 2026. Trade ministers and senior representatives from 20 G20 members, including the United States, the EU, Australia and Türkiye, attended the meeting. Minister Park took part in discussions on the weaponization of food, structural overproduction, forced labor and reform of the Most-Favored-Nation (MFN) principle. Minister Park emphasized the importance of international cooperation based on market principles and multilateral rules in addressing global trade challenges. date2026-10-05

Minister for Trade of MOTIR Emphasizes International Cooperation for Fair Trade and Resilient Supply Chains at G20

Minister for Trade Park Jung-sung of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the G20 Trade Ministerial held in Milwaukee, Wisconsin, from September 30 to October 1, 2026, to discuss responses to global supply chain challenges and key trade issues. Beginning with the Global Forum on Steel Excess Capacity (GFSEC) Ministerial Meeting on the morning of September 30, 2026, Minister Park participated in four sessions during the two-day G20 plenary: the weaponization of food through coercive trade action; structural excess capacity and overproduction; reforming the Most-Favored-Nation (MFN) principle; and eliminating forced labor in global supply chains. He actively presented the Korean government's positions during the discussions. During the meeting, Minister Park also held bilateral talks with counterparts from the United States, China, the European Union, the United Kingdom, Japan, India, Türkiye, Australia, Indonesia, Saudi Arabia and Brazil. The talks covered FTAs; supply chains and economic security; industrial and resource cooperation; and trade issues facing Korean companies. 1. Global Forum on Steel Excess Capacity (GFSEC) Ministerial Meeting Minister Park attended the GFSEC Ministerial Meeting from 8 to 10 a.m. (local time) on September 30, 2026. GFSEC is an international consultative forum launched in 2016 to jointly address global steel excess capacity. It currently has 28 members, including Korea, the United States, the EU and Japan. According to the OECD, global steel excess capacity is projected to reach 745 million metric tons in 2028, the highest level in the past decade. Members shared the view that overproduction by some non-members had placed steel industries in member countries under serious pressure. In response, member representatives adopted a Ministerial Statement emphasizing the need to address excess capacity and restore fair competition, along with a Framework Agreement setting out the details. The Framework Agreement covers information-sharing on excess capacity, the collection of data on the origin of crude steel, and cooperation on trade remedies. At the meeting, Minister Park said, “Addressing excess capacity requires adherence to basic principles, including voluntary corporate restructuring and trade remedies consistent with WTO rules.” He particularly stressed that efforts by GFSEC members to maintain a sound and orderly market environment must not lead to excessive protection beyond international rules. Minister Park also outlined Korea's three policy directions for the steel industry: voluntary capacity rationalization by companies; fostering an environment for fair competition; and strengthening the industry's future competitiveness through measures including lower-carbon and higher-value production. He also emphasized cooperation among GFSEC members to build resilient supply chains. 2. G20 Trade Ministerial At the plenary sessions of the G20 Trade Ministerial held from September 30 to October 1, 2026, Minister Park shared Korea's policy experience concerning the weaponization of food, structural overproduction, MFN reform and forced labor. He emphasized the importance of international cooperation based on market principles and multilateral rules. Weaponization of Food: Creating a Transparent and Predictable Food Trade Environment Minister Park first attended the session on the weaponization of food on September 30, noting that the issue has recently emerged as an important and timely item on the international trade agenda. He stressed that food should under no circumstances be used as a tool of economic or political coercion and that addressing the weaponization of food requires an inclusive approach that takes into account both food-exporting and food-importing countries. Structural Overproduction: Responding through Market Principles and International Cooperation date2026-10-02

Korea to Host Second Round of Green Economy Partnership Agreement Negotiations

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will host the second round of negotiations for the Green Economy Partnership Agreement (GEPA) in Seoul from September 30 to October 2, 2026. In negotiating this plurilateral agreement, participating countries will discuss trade rules for the green economy and cooperative measures to expand trade and investment. The Office of Trade Negotiations at MOTIR said around 20 delegates from Korea, New Zealand, Singapore and Chile will participate in the negotiations. New Zealand, Singapore and Chile previously announced plans to pursue GEPA on the sidelines of the APEC Economic Leaders’ Meeting in October 2025 and subsequently launched negotiations in Singapore in July 2026. Korea formalized its participation in GEPA through an exchange of letters between the trade ministers on September 11, 2026, and will now take part in the negotiations beginning with this second round. GEPA aims to establish common standards among participating countries for trade-related climate measures such as the European Union’s Carbon Border Adjustment Mechanism (CBAM) and facilitate trade in low-emission goods, including low-carbon steel. This round of negotiations will focus on criteria for identifying low-emission and environmental goods, measures to expand trade in these products, and cooperation on the use of sustainable aviation fuel (SAF) in the aviation sector. “With the second round of negotiations, Korea’s participation in GEPA has entered a substantive phase,” said Kim Jang-hee, Director General for Emerging Trade Strategy and Policy at MOTIR. “We will engage actively in the negotiations so that efforts to address climate change and expand green markets can help Korean industry strengthen its competitiveness and secure an early foothold in new markets.” date2026-09-29

Korea–Mexico Business Forum and MOU Signing Ceremony

Minister for Trade, Industry and Resources JK Kim attended an MOU signing ceremony in Mexico on September 25, 2026, during President Lee Jae Myung’s state visit to Mexico, together with Mexico’s Secretary of Economy Marcelo Ebrard. Companies and institutions from the two countries signed MOUs covering areas including aerospace, automotive parts, and the promotion of bilateral trade and investment. Minister Kim said the forum and MOUs would help broaden bilateral cooperation into promising areas and create new opportunities for the two economies to grow together. date2026-09-29

Meeting with Mexico’s Secretary of Economy

Minister for Trade, Industry and Resources JK Kim met with Mexico’s Secretary of Economy Marcelo Ebrard in Mexico on September 25, 2026, during President Lee Jae Myung’s state visit to Mexico. The two ministers discussed ways to accelerate bilateral trade and investment and strengthen cooperation in industry and resources. Minister Kim underscored Korea’s role as a reliable supply chain partner for Mexico and stressed the importance of a stable institutional framework for expanding bilateral trade and investment. date2026-09-29

Korea Accelerates Economic Cooperation with Mexico, a Key Hub in North American Supply Chains

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) signed the Korea–Mexico Initiative for Economic, Industrial and Resources Cooperation during President Lee Jae Myung’s state visit to Mexico. Korea and Mexico also agreed to launch a Joint Benefit Study in preparation for future trade agreement negotiations. In addition, the two countries held the Korea–Mexico Business Forum and K-Selection Plaza in Mexico City and signed four private-sector memoranda of understanding (MOUs), marking key economic diplomacy outcomes of the visit. 1. Korea and Mexico Sign Initiative for Economic, Industrial and Resources Cooperation Following the Korea–Mexico summit on September 24, 2026, Minister Kim of MOTIR and Mexico’s Secretary of Economy Marcelo Ebrard signed the Initiative for Economic, Industrial and Resources Cooperation in the presence of the two presidents. The two sides agreed that the initiative would provide an opportunity to strengthen bilateral economic cooperation and agreed to continue working together for mutual benefit. For its implementation, Korea and Mexico will establish a joint committee to discuss cooperation on minerals and resources and improvements to the business environment to protect the interests of companies operating in each country. The two sides also plan to strengthen cooperation between the Korea Trade-Investment Promotion Agency (KOTRA) and Mexico’s Global Economic Intelligence Unit (UIEG) to promote bilateral trade and investment. 2. Bilateral Meeting with Mexico’s Secretary of Economy Marcelo Ebrard Minister Kim held a separate bilateral meeting with Mexico’s Secretary of Economy Marcelo Ebrard in Mexico City on September 25, 2026. Minister Kim made the case for a bilateral trade agreement and asked Secretary Ebrard to help address difficulties faced by Korean companies operating in Mexico. Minister Kim noted that Mexico’s recent tariff increases on goods from countries with which it has no FTA have worsened the business environment for Korean companies operating in Mexico, not only causing losses but also reducing incentives for further expansion and investment in the country. He stressed the importance of a stable institutional framework for expanding bilateral trade and investment. Minister Kim also emphasized that Korea is a reliable supply chain partner in developing the strategic industries promoted under the Mexican government’s Plan Mexico. He added that a bilateral trade agreement would take bilateral economic cooperation to the next level by strengthening cooperation in future industries and supply chains. Minister Kim then outlined operational difficulties faced by Korean companies in Mexico, including customs clearance delays and port congestion, inadequate power infrastructure, and issues concerning automotive trade between Mexico and Brazil under Economic Complementation Agreement No. 55 (ACE 55). He requested active support from Mexico’s Ministry of Economy in addressing these issues. The two sides agreed to launch a Joint Benefit Study to assess the potential benefits and broader effects of a bilateral trade agreement. They will also continue discussing specific areas of cooperation through the joint committee and working group, which they agreed to establish during the presidential visit. 3. Korea–Mexico Business Forum and MOU Exchange Ceremony The Ministry of Trade, Industry and Resources (MOTIR) and the Korea Chamber of Commerce and Industry (KCCI, Chairman Chey Tae-won) held the Korea–Mexico Business Forum at the World Trade Center in Mexico City on September 25, 2026. Around 300 business representatives from the two countries attended the forum, along with President Lee Jae Myung and Mexico’s Secretary of Economy Marcelo Ebrard. At the forum, companies from both countries, including Ernst & Young Han Young, Agon, NAVER date2026-09-29