Ministry of Trade Industry and Resources

Virtual Meeting with Pakistan’s Federal Minister for Commerce

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held a virtual meeting with Pakistan’s Federal Minister for Commerce Jam Kamal Khan at the Korea Chamber of Commerce and Industry in Seoul on April 30, 2026. The two sides exchanged views on ways to advance Korea–Pakistan Comprehensive Economic Partnership Agreement (CEPA) negotiations and expand bilateral trade and investment cooperation. “This first official round marks the formal start of Korea–Pakistan CEPA negotiations,” acting Director General Kim Jang-hee said. “We will approach the negotiations constructively so that the CEPA can support expanded trade and investment and help Korean companies enter Southwest Asian markets.” date2026-05-04

Trade Minister Yeo Meets Mexican Ambassador to Korea

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Mexican Ambassador to Korea Carlos Peñafiel Soto at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, on April 30, 2026. The two sides discussed ways to strengthen economic and trade cooperation between Korea and Mexico. “Mexico is a key gateway for Korean companies to enter Latin American markets and join USMCA supply chains,” Trade Minister Yeo said. “MOTIR will work closely with Mexico to deliver practical outcomes that help Korean companies expand exports and maintain stable local operations.” date2026-05-04

Korea and Mexico Discuss Accelerating Economic and Trade Cooperation

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Carlos Peñafiel Soto, Ambassador of Mexico to Korea, on April 30, 2026, to discuss economic and trade cooperation between Korea and Mexico. The meeting was held amid growing uncertainty in the global trade environment as protectionist measures spread. Discussions focused on expanding economic cooperation with Mexico, Korea’s largest trading partner in Latin America, and addressing business challenges facing Korean companies. Both sides agreed that a Korea–Mexico FTA would help expand bilateral trade and investment. They also agreed to continue high-level consultations to resume the negotiations, which have been suspended since 2022, as soon as possible. Trade Minister Yeo raised concerns from Korean industry over key trade issues, including Mexico’s tariff increases, which have been in effect since January 2026, and the July 2026 review of the United States–Mexico–Canada Agreement (USMCA). He requested Mexico’s close attention so that Korean companies operating in the country can continue to do business in a stable environment. “Mexico is a key gateway for Korean companies to enter Latin American markets and join USMCA supply chains,” Trade Minister Yeo said. “We will continue working closely with Mexico to deliver practical outcomes that help Korean companies expand exports and maintain stable local operations.” date2026-04-30

Meeting with Qatar’s Minister of State for Foreign Trade Affairs

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with H.E. Dr. Ahmed bin Mohammed Al-Sayed, Qatar’s Minister of State for Foreign Trade Affairs, at the Korea Chamber of Commerce and Industry in Seoul on April 29, 2026.  The two sides discussed ways to expand Korea–Qatar investment cooperation in advanced industries, including semiconductors and biotechnology. “This meeting is an important step toward translating Korea and Qatar’s partnership into concrete investment cooperation in advanced industries,” Trade Minister Yeo said. He added that Korea will continue to strengthen energy security while expanding economic cooperation with Qatar into future industries, including manufacturing AI and biotechnology. date2026-04-30

Meeting with Australian Foreign Minister

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Penny Wong, Australia’s Minister for Foreign Affairs, in the Government Complex Seoul on April 30, 2026. The two ministers discussed recent developments in the Middle East and ways to cooperate on energy supply chains and critical minerals supply chains. Minister Kim noted that Australia’s condensate and other crude oil supplies are essential to maintaining Korea’s petrochemical operations amid Middle East-related supply uncertainty. He also asked for Australia’s cooperation to ensure uninterrupted LNG exports to Korea while maintaining stable domestic natural gas supplies in Australia. date2026-04-30

Korea and Australia Strengthen Energy and Resource Security Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Penny Wong, Australia’s Minister for Foreign Affairs, in Seoul on April 30, 2026, during her visit to Korea. The two ministers discussed energy and resource security cooperation in response to global supply chain risks heightened by the conflict in the Middle East. The two ministers reaffirmed the close, complementary energy and resources partnership between Korea and Australia. Australia is Korea’s largest LNG supplier, accounting for 31.4 percent of Korea’s LNG imports in 2025, and a major supplier of condensate, which is essential for producing naphtha, a basic feedstock for Korea’s petrochemical industry. Korea, in turn, is Australia’s largest supplier of petroleum products, with a 29.1 percent market share. These stable two-way flows have underpinned both countries’ complementary economic relationship. On this strong foundation of trust, Korea and Australia issued the Joint Statement on Energy Resource Security, prepared with the participation of Korea’s five relevant ministries, including MOTIR. The statement carries particular significance as it publicly affirms the two countries’ commitment to strengthening supply chain resilience at a time of heightened uncertainty in global energy markets following the outbreak of the conflict in the Middle East. Minister Kim noted that Australian condensate and crude oil are essential to maintaining Korea’s petrochemical operations amid Middle East-related supply uncertainty. He also described Australia as “a highly reliable partner.” Minister Kim asked the Australian side to help ensure that LNG exports to Korea continue without disruption while Australia maintains stable domestic natural gas supplies. Minister Kim also reaffirmed the importance of cooperation with Australia on critical minerals essential to future advanced industries, in the context of continued supply chain uncertainty. Australia is rich in resources and is a major investment destination for Korean companies. The two sides will continue discussions on Australia’s planned Critical Minerals Strategic Reserve so that it can support a stable production base for supplier countries while serving as a reliable supply source for consumer countries. MOTIR will use high-level channels such as the Korea-Australia Joint Committee on Energy and Mineral Resources (JCEM) to help translate the joint statement into tangible business outcomes. Through these channels, MOTIR will work to implement key areas of cooperation covering crude oil, LNG, condensate and critical minerals. date2026-04-30

Korea and Qatar Strengthen Investment Cooperation in Manufacturing AI, Robotics, Biotech, and Semiconductors

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with H.E. Dr. Ahmed bin Mohammed Al-Sayed, Qatar’s Minister of State for Foreign Trade Affairs, in Seoul on April 29, 2026, to discuss expanding investment cooperation in advanced industries, including semiconductors and biotechnology. The meeting followed up on discussions held during the visit to Qatar by Korea’s special presidential envoy for strategic economic cooperation on April 13, 2026, and was arranged to help turn the two countries’ cooperation agenda into concrete outcomes. Trade Minister Yeo recognized Qatar’s resilience in maintaining stability amid heightened tensions in the Middle East. He also reaffirmed the strong foundation of bilateral cooperation built through Korea’s imports of Qatari natural gas and Korean companies’ participation in major energy infrastructure projects in Qatar. The two sides agreed to expand strategic investment cooperation in advanced industries by combining Korea’s strengths in advanced manufacturing with Qatar’s capital and industrial diversification policy. The two sides paid particular attention to opportunities in future industries, including AI transformation (AX) in manufacturing and robotics. Trade Minister Yeo introduced the M.AX Alliance, launched to advance manufacturing innovation, as well as Korea’s leading manufacturing AI companies. He expressed hope that investment cooperation would expand in AI solutions that help address challenges at manufacturing sites, as well as in robotics projects that can be linked with infrastructure development. The meeting also covered investment cooperation in biotechnology and semiconductors. Trade Minister Yeo noted that Korean companies are expanding into Qatar in health screening, including genetic analysis, as well as pharmaceuticals, and expressed hope that Qatar would further expand investment cooperation with promising Korean biotech companies. In semiconductors, he highlighted the potential of Korea’s AI semiconductor fabless companies with low-power, high-performance technologies. The two sides agreed to keep sharing information, including on companies with potential interest, and continue consultations to ensure smooth progress in investment cooperation on these prospective projects. “This meeting reaffirmed the trust built through the recent special envoy’s visit and marks an important step toward translating Korea and Qatar’s partnership into concrete investment cooperation in advanced industries,” Trade Minister Yeo said. “Korea will continue to strengthen energy security while expanding economic cooperation with Qatar into future industries, including manufacturing AI and biotechnology.” date2026-04-29

Korea–Singapore Trade Ministers’ Meeting

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong and Grace Fu, Minister-in-charge of Trade Relations, at Singapore’s Ministry of Trade and Industry on April 28, 2026. The meeting covered ways to accelerate upgrade negotiations for the Korea–ASEAN FTA and the Korea–Singapore FTA. Following the meeting, the two sides held a signing ceremony for the terms of reference (ToR) for negotiations to upgrade the Korea–Singapore FTA, attended by the trade ministers of both countries. “This visit allowed us to follow up on the March summit by launching FTA upgrade negotiations and discussing key economic cooperation issues, including supply chain stability, investment promotion and cross-border e-commerce exports,” Trade Minister Yeo said. “We will work to translate these discussions into practical outcomes for Korean companies.” date2026-04-29

Meeting with Singapore’s Minister-in-Charge of Energy and Science & Technology

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Dr Tan See Leng, Singapore’s Minister-in-charge of Energy and Science & Technology in the Ministry of Trade and Industry, in Singapore on April 27, 2026. Rep. Lee Un-ju, chair of the Korea–Singapore Parliamentary Friendship Association, also attended the meeting. The meeting covered ways to accelerate upgrade negotiations for the Korea–ASEAN FTA and the Korea–Singapore FTA, as part of efforts to strengthen Korea’s economic cooperation framework with New Southern Policy partner countries. date2026-04-29

Korea and Singapore Launch FTA Upgrade Negotiations

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) visited Singapore from April 27 to 28, 2026, to formally launch negotiations to upgrade the Korea–Singapore Free Trade Agreement (FTA) and discuss key ministerial-level trade issues. He also reviewed crude oil and naphtha market conditions with global energy traders and promoted Singaporean investment in Korea’s advanced industries and cross-border e-commerce exports of Korean consumer goods. Rep. Lee Un-ju, a Supreme Council member of the Democratic Party of Korea and chair of the Korea–Singapore Parliamentary Friendship Association, participated in key programs, including industry meetings and investment promotion activities, drawing on her experience in the National Assembly’s industry and trade committee as well as in business and law. 1. Launch of Korea–Singapore FTA Upgrade Negotiations On April 28, 2026, MOTIR and Singapore’s Ministry of Trade and Industry (MTI) formally launched negotiations to upgrade the Korea–Singapore FTA by signing the terms of reference, following the two countries’ agreement at their March 2026 summit. Trade Minister Yeo and Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong attended the signing, which was carried out by the chief negotiators of the two countries. MOTIR then held the first round of Korea–Singapore FTA upgrade negotiations together with relevant Korean ministries, including the Ministry of Economy and Finance (MOEF) and the Ministry of Land, Infrastructure and Transport (MOLIT). The talks covered supply chains, the green economy, aviation maintenance, repair, and overhaul (MRO), and trade facilitation. 2. Ministerial-Level Trade Discussions with Singapore  Trade Minister Yeo held talks with Singaporean ministerial-level officials, including Deputy Prime Minister Gan Kim Yong; Dr. Tan See Leng, Minister-in-charge of Energy and Science & Technology; and Grace Fu, Minister-in-charge of Trade Relations. They discussed accelerating the upgrade negotiations for the Korea–ASEAN FTA and the Korea–Singapore FTA to strengthen Korea’s economic cooperation framework with New Southern Policy partner countries. The two sides also discussed plurilateral cooperation in support of free trade, including the Future of Investment and Trade Partnership (FIT Partnership) and the Green Economy Partnership Agreement (GEPA), as well as supply chain cooperation in energy, biotechnology, and pharmaceuticals. 3. Meetings with Global Energy Traders to Review Crude Oil and Naphtha Supply Risks Trade Minister Yeo and Rep. Lee held a series of meetings in Singapore with global energy traders Vitol and Trafigura and commodity market intelligence provider S&P Global to discuss the global energy market outlook and response options. They also met with Korean refining and petrochemical companies operating in Singapore to review crude oil and naphtha supply conditions and hear industry concerns. 4. Investment Promotion and Cross-Border E-Commerce Exports The Korean delegation met with Chia Song hwee, CEO of Temasek Global Investments. Temasek, a Singapore investment company and long-term investor in Korea in areas such as life sciences, expressed interest in exploring further investments in advanced technology sectors in the country, including AI and semiconductors. The delegation also visited Shopee, Southeast Asia’s largest e-commerce company, to discuss dedicated sections for Korean products, certification support, and logistics cooperation for Korean SMEs in K-fashion, beauty, and food. 5. Visits to Advanced Manufacturing AI and Port Automation Sites The Korean delegation visited Hyundai Motor Group Innovation Center Singapore (HMGICS), Singapore’s advanced manufacturing innovation hub, and PSA Singapore, a globa date2026-04-28