Ministry of Trade Industry and Resources

Korea and UAE Deepen Critical Resource Supply Chain and Industrial Cooperation

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. The two ministers discussed ways to stabilize critical resource supply chains and expand industrial cooperation. Korea and the UAE have deepened their strategic partnership through a series of high-level exchanges, including the Korean President’s state visit to the UAE in November 2025, Minister Kim’s visit in June 2026, and the visit by the Presidential Special Envoy for Strategic Economic Cooperation in March 2026. Cooperation has expanded across critical resources such as crude oil and naphtha, as well as nuclear power, energy infrastructure, and advanced industries. On the occasion of Minister Al Jaber’s visit to Korea, the two sides reviewed the key areas of cooperation they have advanced so far to maintain momentum, and held more detailed discussions on shared interests, including AI and energy infrastructure. During the meeting, the two ministers signed the agreement on strategic cooperation between MOTIR and ADNOC on the crude oil supply chain. Covering stable crude oil supply, emergency response measures, and joint stockpiling, the agreement sets out their commitment to build crude oil security cooperation that remains reliable even during crises, including conflicts in the Middle East. The signing comes as Middle East tensions have somewhat eased since the United States and Iran signed a memorandum of understanding on ending hostilities on June 17, 2026. The agreement is expected to further deepen bilateral cooperation on energy and resource security. The two sides also discussed cooperation on AI adoption in the refining and petrochemical industries, where both countries have strengths. Minister Kim introduced Korea’s AI transformation project for the petrochemical industry in the Ulsan-Mipo Industrial Complex, as well as examples from Korean refining and petrochemical companies leading AI adoption. He noted similarities between ADNOC’s strategy to scale AI across all crude oil-related operations and Korea’s Manufacturing AI Transformation (M.AX) policy, and proposed identifying practical cooperation projects between relevant companies and institutions in the two countries. The meeting also covered energy infrastructure projects currently being pursued by the UAE, including the expansion of oil and gas storage and transport infrastructure that bypasses the Strait of Hormuz. Minister Kim noted that Korean companies are exploring various forms of participation, including EPC contracts, in the UAE’s key projects, and asked the UAE side to consider and support their participation in related projects going forward. “Although the situation in the Middle East is changing, securing stable supply chains for critical resources remains one of the most important tasks for Korea’s economic security. Korea needs to further strengthen its strategic partnership with the UAE, a major energy supplier,” Minister Kim said. “We also need to broaden the scope of cooperation beyond critical resource supply chains by exploring new possibilities and opportunities in advanced industries such as AI. Building on this meeting, MOTIR will work closely with the UAE to deliver concrete outcomes,” he added. date2026-07-08

Korea and Singapore Hold Second Round of Korea-Singapore FTA Upgrade Negotiations

Park Geun-oh, Director General for Trade Agreement Policy at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the Second Round of Korea-Singapore FTA Upgrade Negotiations at Lotte Hotel Seoul on July 7, 2026. The meeting brought together government delegations from both countries, including Tan Lui Hai, Director of the Northeast Asia Division at Singapore’s Ministry of Trade and Industry. Director General Park said Korea will work to achieve outcomes that help Korean companies enter the Singapore market, including by modernizing trade rules. date2026-07-08

Korea and Singapore Hold Second Round of FTA Upgrade Negotiations

Korea and Singapore will hold the second official round of negotiations to upgrade the Korea–Singapore Free Trade Agreement (FTA) in Seoul from July 7 to 8, 2026. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) said the talks will bring together about 30 delegates from both countries. The Korean delegation will be led by Park Geun-oh, Director General for Trade Agreement Policy at MOTIR, and the Singaporean delegation by Tan Lui Hai, Director of the Northeast Asia Division at Singapore’s Ministry of Trade and Industry. The Korea–Singapore FTA entered into force in 2006, and the two countries exchanged a joint declaration during the Korean President’s state visit to Singapore in March 2026, agreeing to launch upgrade negotiations. The first round of negotiations was held in Singapore in April. At the second round, Korea plans to hold sector-specific talks on supply chains, the green economy, and aviation MRO. Through the talks, Korea and Singapore will seek to deepen the broader trade partnership, expand cooperation in new trade areas, and strengthen bilateral aviation MRO cooperation. “Singapore is Korea’s second-largest investment and trade partner in ASEAN,” said Director General Park. “Korea will make every effort to achieve outcomes in the upgrade negotiations that help Korean companies enter the Singapore market, including by modernizing trade rules.” date2026-07-07

MOTIR and MAFRA Co-Host Korea Brand and Entertainment Expo and ASEAN K-Food Fair

Following the Korea-Vietnam summit in April 2026, an economic and cultural exchange event was held in Hanoi, Vietnam, to build on bilateral economic and cultural cooperation and connect global interest in K-content with exports of K-food, K-beauty, and other Korean consumer goods. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Agriculture, Food and Rural Affairs (MAFRA, Minister Song Mi-ryung) co-hosted the 2026 Korea Brand and Entertainment Expo (KBEE 2026 Hanoi) and the ASEAN K-Food Fair with the Korea Trade-Investment Promotion Agency (KOTRA, President Kang Kyung-sung) and the Korea Agro-Fisheries & Food Trade Corporation (aT, President Hong Moon-pyo). The events were held from July 2 to 4, 2026, at the National Convention Center (NCC) in Hanoi, Vietnam. The event combined the KBEE, which pairs Hallyu performances with hands-on experiences featuring Korean consumer goods to help Korean brands enter overseas markets and build awareness, with the K-Food Fair, which supports overseas expansion for Korean agri-food products. The joint format was designed to help Korean consumer goods and agri-food products enter ASEAN markets. Vietnam is a key ASEAN country and Korea’s third-largest trading partner, with bilateral trade of USD 94.6 billion in 2025. Its consumer market is expanding quickly, supported by a population of 100 million and steady economic growth, while strong local interest in Hallyu has made it Korea’s fourth-largest consumer goods export market as of May 2026. Vietnam is also Korea’s largest investment destination in ASEAN, with more than 10,000 Korean companies operating in the country. More than 330,000 Vietnamese nationals live in Korea, reflecting active people-to-people exchanges, and recent reciprocal leader-level visits and other high-level exchanges have continued to expand cultural and economic cooperation. The fair brought together 107 Korean companies in food, cosmetics, household goods, and fashion, along with about 280 buyers from Vietnam and other Southeast Asian markets. A total of 1,512 business consultations were held, resulting in MOUs and contracts worth USD 33 million, more than double the $15 million recorded at the Hanoi Korean Wave Expo in 2022. To raise local consumer interest and demand for Korean products, the event featured K-pop performances by WINNER and FIFTY FIFTY, a K-lifestyle talk show, and K-beauty experience programs. The newly introduced Kids Zone, designed for Vietnam’s young population and large youth consumer base, drew a strong response from local families. Vietnam is Korea’s fourth-largest K-food export market and a key strategic market for Korean agri-food exports. In 2025, Korea’s K-food exports to Vietnam totaled about $570 million, accounting for around 5.5 percent of Korea’s total agri-food exports. Local consumer interest in and demand for K-food continue to grow, supported by rising exports of ramyeon, sauces, beverages, and fresh produce such as strawberries. The ASEAN K-Food Fair went beyond a product showcase, giving local consumers a firsthand experience of Korean food culture and lifestyle through open-kitchen tastings, kimchi-making sessions, and live chef shows. These hands-on programs offered visitors a sensory experience of the taste and culture of K-food. Among the priority K-food categories for ASEAN markets, spicy ramyeon and frozen cup-bap drew strong interest as street food items, while tteokbokki and ade-style beverages stood out among halal products. Visitors also responded well to the Food Tech Pavilion’s Hangang Ramyeon experience and to 45 products at the Global NEXT K-Food Pavilion, including 10-won coin bread and cream chapssaltteok, presented as potential hit products following K-ramyeon’s success. One Korean company participating in the event said, “The Korean Wave Expo will help raise awarene date2026-07-06

Korea and Mongolia to Hold Sixth Round of Official CEPA Negotiations

Korea and Mongolia will hold the sixth round of official negotiations for the Korea-Mongolia Comprehensive Economic Partnership Agreement (CEPA) from July 1 to 3, 2026, in Ulaanbaatar, Mongolia. The talks are aimed at expanding bilateral economic cooperation and strengthening the basis for mutually beneficial trade and investment. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that the Korean delegation will be led by Kwon Hye-jin, Deputy Minister for Trade Negotiations, and the Mongolian delegation by State Secretary Batkhuu Idesh of the Ministry of Economy and Development. Since launching CEPA negotiations in December 2023, the two countries have held five official rounds and have come close to agreement in major areas, including goods, services, investment, digital trade, and economic cooperation. At the sixth round, the two sides will focus on key outstanding issues, including goods and rules of origin, with the aim of reaching an agreement. Korea’s strengths in manufacturing and technology complement Mongolia’s strong economic growth and abundant natural resources. Once signed and entered into force, the Korea-Mongolia CEPA is expected to expand bilateral trade and investment and further strengthen supply chain and industrial cooperation in infrastructure, consumer goods, and other areas. “Our goal in this round is to reach substantive agreement by focusing discussions on key areas, including tariff concessions on goods and rules of origin,” Deputy Minister Kwon said. “Korea will make every effort to reach a balanced, mutually beneficial outcome on market opening.” date2026-06-30

Minister Kim Meets with Uzbekistan’s Minister of Investment, Industry and Trade

Minister JK Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry and Trade, in Seoul on June 26, 2026, to discuss ways to deliver tangible results in bilateral economic cooperation ahead of the first Korea-Central Asia Summit, scheduled for September. Minister Kim said Uzbekistan is a key cooperation partner for Korea and an important economic partner in Central Asia, adding that Korea will work closely with Uzbekistan to help the September summit take bilateral economic cooperation to the next level. date2026-06-26

Seventh Korea-China FTA Joint Committee

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR), Korea’s chief delegate, attended the seventh Korea-China FTA Joint Committee at China’s Ministry of Commerce in Beijing on June 25, 2026. The meeting brought together government delegations from both countries, including China International Trade Representative Li Chenggang. The two sides reviewed the implementation status of the Korea-China FTA, now in its 12th year, and discussed key areas for improvement raised by FTA committees on customs and rules of origin, technical barriers to trade (TBT), intellectual property rights, and economic cooperation. date2026-06-26

Korea and Uzbekistan Discuss Expanding Economic Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, in Seoul on June 26, 2026. They discussed ways to deliver tangible results in bilateral economic cooperation ahead of the first Korea-Central Asia Summit, scheduled for September 2026. With the Summit approaching, the two sides exchanged views on the need to establish the C5+Korea Industry Ministers’ Meeting as a platform for industrial cooperation between Korea and the five Central Asian countries. They also agreed to expand practical cooperation in trade and investment, AI transformation in manufacturing, the business summit, and support for Korean companies. The two sides shared the view that economic cooperation between Korea and Uzbekistan is becoming more strategically important amid shifting global supply chains and growing geopolitical uncertainty. They agreed to build on the Summit to lift bilateral trade, which stood at about USD 1.8 billion in 2025, to a new level. They also agreed to strengthen the institutional framework for expanding trade and investment, including by resuming FTA negotiations once Uzbekistan accedes to the WTO. The two sides agreed to make AI transformation in manufacturing a key area of future cooperation. With more Korean companies entering Uzbekistan, the two sides agreed to use Korea’s ODA-funded digital manufacturing technology center project to build a more systematic framework for cooperation on AI transformation in manufacturing, manufacturing data standardization, and workforce training, while expanding business opportunities for companies in both countries. The two sides agreed to use the Korea-Central Asia Business Summit, planned alongside the first Korea-Central Asia Summit, to expand business exchanges between Korean and Central Asian companies and identify new commercial opportunities. As more Korean companies enter Uzbekistan, Minister Kim asked the Uzbek government to continue supporting their business operations and addressing issues they face. He also commended the Korea Desk at Uzbekistan’s Ministry of Investment, Industry and Trade and asked the Uzbek ministry to use the channel to help resolve Korean companies’ concerns and support a more business-friendly investment environment. “Uzbekistan is a key cooperation partner for Korea and an important economic partner in Central Asia,” Minister Kim said. “We will work closely so the Korea-Central Asia Summit in September can help take bilateral economic cooperation to the next level.” date2026-06-26

Korea and China Hold Seventh FTA Joint Committee

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the seventh Korea–China FTA Joint Committee in Beijing on June 25, 2026, with China International Trade Representative Li Chenggang. The Korean delegation, led by Minister Yeo, included officials from the Ministry of Finance and Economy (MOFE), the Ministry of Foreign Affairs (MOFA), and the Ministry of Culture, Sports and Tourism (MCST).  The two sides reviewed the implementation status of the Korea–China FTA, now in its 12th year. They also discussed key areas for improvement raised by the committees on customs and rules of origin, technical barriers to trade (TBT), intellectual property rights, and economic cooperation. Streamlining Origin Certification Procedures for Businesses Korea and China agreed to introduce self-certification of origin by approved exporters and update product-specific rules of origin (PSRs) to facilitate Korean companies’ use of the FTA. Under the approved exporter system, customs authorities recognize exporters that are qualified to certify the origin of goods. Approved exporters can then issue certificates of origin themselves or obtain them through a simplified process. The system will streamline origin certification procedures for about 6,000 Korean companies and reduce time and costs. The two sides will also update the FTA’s product-specific rules of origin from HS 2012 to HS 2022. The update is expected to address a recurring mismatch: FTA certificates of origin are based on HS 2012, while import and export declarations use HS 2022. Aligning the two is expected to make customs clearance and origin certification smoother for businesses. Korea and China also reviewed TBT affecting key industries, including portable batteries, electrical and electronic products, and cosmetics. They discussed more flexible regulatory approaches to improve market access for businesses, including broader recognition of test reports. China also agreed to send an investment delegation to Saemangeum in the second half of 2026 to explore investment opportunities. Beyond trade in goods, the two countries will continue to use the FTA to discuss emerging trade issues, including supply chain stabilization and digital transformation, in response to changes in the global industrial and trade environment. Expanding Cultural Content Cooperation and Accelerating the Subsequent Negotiations on Services and Investment The two chief delegates exchanged information on current intellectual property rights (IPR) infringements, including the illegal online distribution of Korean content, and agreed to expand cooperation on enforcement and protection. Korea stressed the need to expand legal distribution channels for Korean cultural content in China and discussed ways to expand the market for legally distributed cultural content through the subsequent negotiations on services and investment. Korea also proposed establishing a joint Korea–China IPR cooperation body, tentatively named Korea–China IP Action, to continue expert-level discussions on stronger enforcement of content-related IPR. Following the Joint Committee, the two sides held a separate small-group meeting to discuss advancing the subsequent negotiations on services and investment. Korea and China agreed to accelerate consultations on key issues, reflecting the two leaders’ January agreement to seek meaningful progress in 2026. Supporting Korean Companies’ Market Entry in China by Expanding Consumer Goods and Industrial Cooperation During his visit to China, Minister Yeo also supported Korean consumer goods’ entry into the Chinese market and promoted broader industrial cooperation. He visited Tianjin Port, the largest logistics hub in northern China, and discussed ways to use Tianjin’s sea-rail transport network to help Korean consumer goods reach inland China date2026-06-25

Korea and Türkiye to Hold 6th FTA Joint Committee Meeting

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that the 6th Korea–Türkiye FTA Joint Committee Meeting will be held in Ankara, Türkiye, from June 23 to 24, 2026. The meeting will be led by Lee Min-young, Acting Director General for Trade Agreement Policy at MOTIR, and Hüsnü Dilemre, Director General for International Agreements and EU Affairs at Türkiye’s Ministry of Trade. Türkiye serves as a gateway from Asia to Europe and occupies a strategic location near the Middle East and North Africa. Since the Korea–Türkiye FTA entered into force in 2013, bilateral trade has continued to grow, surpassing USD 10.0 billion for the first time in 2023 and reaching a record $10.7 billion in 2025. Korea’s exports to Türkiye increased by 99.7 percent from $4.6 billion in 2012 to $9.1 billion in 2025, while Türkiye’s exports to Korea rose by 133.3 percent from $670 million to $1.6 billion over the same period. As of December 2025, Korea’s cumulative investment in Türkiye stood at $4.6 billion across 1,176 projects, 38 times Türkiye’s investment in Korea during the same period, with manufacturing accounting for 47 percent of the total. Companies such as Hyundai Motor and POSCO have established production bases in Türkiye to serve the European market, contributing to local production, employment, and exports. Korean materials and components exported to Türkiye are also used in local manufacturing processes, helping strengthen bilateral supply chains and industrial cooperation. At the 6th Joint Committee Meeting, the two sides will review the implementation of the FTA and discuss related issues. Korea will convey concerns over the increasing number of import restrictions applied to Korean products and request that related investigations be conducted in a fair and objective manner consistent with international rules. Korea will also address difficulties faced by Korean companies in areas such as customs clearance and certification. Türkiye is expected to propose measures to help reduce its trade deficit with Korea, while the two sides will also discuss cooperation on sanitary and phytosanitary (SPS) measures.   date2026-06-23