Ministry of Trade Industry and Resources

Fifth Korea–China Industrial Ministers’ Meeting

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) held the Fifth Korea–China Industrial Ministers’ Meeting with Li Lecheng, China’s Minister of Industry and Information Technology, at the Ministry of Industry and Information Technology in Beijing on March 18, 2026. Joined by government delegations from both sides, the two ministers agreed to pursue more equal and mutually beneficial cooperation that reflects changes in the structure of bilateral industrial cooperation.  Minister Kim stressed that although competition between the two countries has intensified as their industrial structures evolve, the mutual benefits of cooperation remain unchanged. He called for continued efforts to identify promising areas for cooperation and address shared challenges.   date2026-03-19

Korea-China Advance Summit (Jan 5) Follow-Up Through Mutually Beneficial Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited Beijing on March 18, 2026, and held successive Korea–China ministerial meetings on commerce and industry. Minister Kim first met with Wang Wentao, China’s Minister of Commerce, and agreed to focus on implementing the agreements reached by the two leaders and stabilizing supply chains amid rapid shifts in the global trade environment. In the event of logistics delays or raw material shortages, the two countries will immediately activate communication channels, including the supply chain hotline, and coordinate a joint response. For critical items such as rare earths and permanent magnets, they will use the export control dialogue and expedited and standardized licensing arrangements to improve predictability in bilateral supply chains. On trade, the two ministers discussed ways to expand bilateral cooperation into new areas, including consumer goods, by leveraging China’s drive to boost domestic demand. They agreed to increase business engagement through exchange events and trade fairs with China’s major economic provinces. The Korea–China FTA Joint Committee will be convened in the first half of 2026 to work toward practical outcomes in the services and investment negotiations. The two sides also recognized the need for effective measures to protect Korean music, films, and other intellectual property in China, including through the resumption of the intellectual property implementation committee. Minister Kim then held the fifth Korea–China Industrial Ministers’ Meeting with Li Lecheng, China’s Minister of Industry and Information Technology. It was the first Korea–China industrial ministerial meeting in four years since the virtual meeting in January 2022, and the first in-person meeting in eight years since the Seoul meeting in May 2018. Recognizing how the structure of Korea–China industrial cooperation has evolved, the two ministers agreed that future cooperation should move toward a more equal and mutually beneficial footing. They will deepen cooperation in advanced sectors such as semiconductors and batteries, while exploring new opportunities in the green transition of industry and the silver economy. The two sides also discussed ways to stabilize the tightly interconnected industrial and supply chains in the battery sector. In semiconductors, which account for 26 percent of bilateral trade, they will step up policy communication and actively support the smooth operation of Korean semiconductor plants in China. They reached a shared understanding on the need for cooperation on the green transition of industry and the silver economy in response to the shared challenges of climate change and population aging. To that end, they will exchange technologies and experience and promote cooperation between companies and research institutions. They will also share experience in building industrial supply chain data platforms as a digital foundation for the green transition of industry. Minister Kim stressed that although competition between the two countries’ industrial sectors has intensified, the mutual benefits of cooperation remain unchanged. He called for continued efforts to identify promising areas for cooperation and address shared challenges together. date2026-03-19

MOTIR, Pennsylvania Join Forces to Keep MASGA Project on Track

Park Dong-il, Deputy Minister of the Office of Industrial Policy at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Rick Siger, Secretary of the Pennsylvania Department of Community and Economic Development in Seoul on March 18, 2026, to discuss bilateral industrial cooperation, including shipbuilding. Pennsylvania is home to Hanwha Philly Shipyard, the first U.S. shipyard acquired by Hanwha Ocean, one of Korea’s leading shipbuilders. Against that backdrop, Secretary Siger’s visit focused on ways to move shipbuilding cooperation forward, including steps to promote investment in the U.S. shipbuilding industry. Hanwha Ocean and its partners acquired Philly Shipyard from Norway’s Aker in December 2024. The shipyard is now building training vessels and medium-sized tankers, and Hanwha Ocean plans to expand the site and add automation equipment to raise annual production capacity from about 1.5 vessels to more than 10. Deputy Minister Park said Korean shipbuilders are reviewing a range of projects under the “Make American Shipbuilding Great Again (MASGA)” initiative to expand U.S. shipbuilding capacity, train workers, and strengthen supply chains. He stressed that effective support from the Pennsylvania state government will be essential to enabling Hanwha Philly Shipyard to play a leading role. He asked the state to expedite permits for the expansion project and build out infrastructure in advance to meet rising transport and electricity demand. He also called for the Philly area to be designated a Maritime Prosperity Zone (MPZ) under the U.S. Maritime Action Plan (MAP) announced in February, and underscored the need for U.S. government incentives given high labor costs in the United States. Deputy Minister Park also proposed cooperation tied to the Korean government’s export support programs for shipbuilding equipment and to the Korea–U.S. Shipbuilding Cooperation Center, which is set to open in 2026. He added that he hopes to expand cooperation with Pennsylvania’s leading universities and research institutes in a range of areas, including industrial AI transformation. MOTIR will continue working with the U.S. government to help create favorable investment conditions for Korean companies so that the MASGA project delivers mutually beneficial outcomes for both countries. date2026-03-18

Indo-Pacific Energy Security Ministerial and Business Forum

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo, Japan, on March 15, 2026.  The event brought together senior government officials from 17 major Indo-Pacific countries—including the United States, Australia, Vietnam, and New Zealand—as well as business leaders from the energy, infrastructure, industry, and finance sectors. At the forum, participants discussed ways to strengthen energy security across the Indo-Pacific, with a focus on ensuring reliable and affordable energy supply, securing energy supply chains and infrastructure, and expanding trade and investment cooperation. In a joint statement, ministers also affirmed their shared determination to work collectively to promote a stable and secure energy supply in the region. date2026-03-17

Korea–Japan Industry and Trade Ministers’ Meeting

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Akazawa Ryosei, Japan’s Minister of Economy, Trade and Industry (METI), in Tokyo on March 14, 2026, on the sidelines of the inaugural Indo-Pacific Energy Security Ministerial.   Ahead of the meeting, the two sides signed the Korea–Japan Supply Chain Partnership Arrangement (SCPA) to strengthen cooperation on supply chain disruption response and industrial collaboration, and discussed key bilateral agendas across industry and trade. They also agreed to launch the Korea–Japan Industrial and Trade Policy Dialogue, a regular consultative channel between MOTIR and METI, and shared the view that closer coordination is needed to help stabilize LNG supply. Minister Kim said, “As uncertainty grows amid shifts in the global trade environment, instability in energy and resource markets, and supply chain risks, Korea and Japan, as like-minded partners, have remained in close coordination. Building on 60 years of normalized diplomatic relations, the two countries will continue to advance forward-looking and mutually beneficial industrial and trade cooperation.”   date2026-03-17

Korea–India Trade Ministers’ Meeting

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the Korea–India Trade Ministers’ Meeting with Piyush Goyal, India’s Minister of Commerce and Industry, in New Delhi, India, on March 13, 2026, with government delegations from both countries in attendance.  After delivering opening remarks, the two sides welcomed the growing depth of bilateral economic ties and held in-depth talks on resuming and accelerating negotiations to upgrade the Korea–India CEPA. Trade Minister Yeo also stressed the importance of closer economic cooperation between the two countries as they seek to diversify markets and supply chains.   date2026-03-16

Roundtable with Indian IT and AI Companies

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) chaired a roundtable with Indian IT and AI companies in New Delhi, India, on March 13, 2026, attended by representatives from the Federation of Indian Chambers of Commerce & Industry (FICCI) and other industry participants. He delivered opening remarks and discussed ways to strengthen Korea–India cooperation in AI and digital trade. The roundtable provided an opportunity for the two sides to exchange views on future cooperation in AI and digital trade and to explore ways to deepen bilateral cooperation in emerging technology sectors. date2026-03-16

Meeting with NITI Aayog Vice Chairman

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Suman Bery, Vice Chairman of NITI Aayog, in New Delhi, India, on March 13, 2026, to discuss ways to deepen bilateral trade cooperation. During the meeting, the two sides exchanged views on economic cooperation between Korea and India, including efforts to diversify markets and supply chains. Trade Minister Yeo also called for active support from the Indian government to help address difficulties faced by Korean companies operating in the country. date2026-03-16

Korea, Japan Hold Industry and Trade Ministers’ Meeting at Indo-Pacific Energy Security Ministerial

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the inaugural Indo-Pacific Energy Security Ministerial in Tokyo on March 14–15, 2026, where he met with Akazawa Ryosei, Japan’s Minister of Economy, Trade and Industry (METI), to discuss key bilateral agendas across industry, trade, and global supply chains. Amid heightened global uncertainty, Korea and Japan have remained in close coordination on supply chains and energy security. Against this backdrop, the two sides agreed to launch the Korea–Japan Industrial and Trade Policy Dialogue, a regular consultative channel between MOTIR and METI, to review and manage bilateral agendas across trade, economic security, supply chains, steel, and mineral resources. The two sides also underscored the importance of closer Korea–Japan cooperation to help stabilize LNG supply, given that both countries are among the world’s leading LNG importers. Korea Gas Corporation and JERA signed an Operation Cooperation Agreement covering LNG supply arrangements, including LNG swaps. The agreement establishes a framework for joint action in the event of an LNG supply disruption. The two sides agreed to expand practical follow-up measures at an early date, including the implementation of LNG swaps, to support stable LNG supply and demand in both countries. Minister Kim said, “As uncertainty grows amid shifts in the global trade environment, heightened volatility in energy and resource markets, and supply chain risks, Korea and Japan, as like-minded partners, have remained in close coordination. Building on 60 years of normalized diplomatic relations, the two countries will continue to advance forward-looking and mutually beneficial industrial and trade ties.”   Before the meeting, the two sides signed the Korea–Japan Supply Chain Partnership Arrangement (SCPA), establishing a framework for joint responses to supply chain disruptions and broader industrial ties. Under the partnership, Korea and Japan will endeavor to minimize unnecessary measures that could affecting each other’s supply chains and to share information when signs of disruption emerge. They also plan to deepen supply chain ties by expanding joint exploration, investment, and technological collaboration in critical minerals and other resources. date2026-03-16

Korea and India Discuss Resuming and Accelerating Korea–India CEPA Upgrade Talks

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Piyush Goyal, India’s Minister of Commerce and Industry, in India on March 13, 2026, to discuss ways to deepen bilateral trade and investment ties. India is one of Korea’s key partners in the New Southern region. Home to 1.45 billion people, it is the fourth-largest economy and one of the fastest-growing markets in the world, with average annual growth of about 7 percent over the past decade. As the country has recently concluded a series of high-standard FTAs and continues to open its market, expanding liberalization under the Korea–India CEPA has become increasingly urgent to help Korean companies remain competitive. Bilateral trade reached USD 25.7 billion in 2025, making it Korea’s eighth-largest export market. This represents an increase of more than 50 percent from the USD 17.1 billion recorded in 2010, when the agreement entered into force, underscoring the country’s growing importance to the Korean economy. Against a backdrop of rapid shifts in the global trade environment, Trade Minister Yeo highlighted the importance of closer economic cooperation between the two countries as they work to diversify markets and supply chains. Noting the growing depth of bilateral economic ties, he held in-depth discussions with Minister Goyal on ways to resume and accelerate negotiations to upgrade the Korea–India CEPA. The two sides also exchanged views on key issues ahead of the 14th WTO Ministerial Conference, which will be held in Cameroon, on March 26–29, 2026. With momentum building among WTO members for reform, they discussed the direction of those efforts and other major issues, including incorporating the Investment Facilitation for Development Agreement, which Korea has championed, into the WTO legal framework. They also explored practical ways to strengthen the multilateral trading system. During the visit, Trade Minister Yeo also met with Korean companies operating in India to hear their concerns firsthand. At both the ministerial meeting and a separate session with NITI Aayog, the Indian government’s policy think tank, he called for stronger support from the government to help resolve those difficulties. He also took part in a roundtable hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI) with local IT and AI companies, where participants exchanged views on future cooperation in AI and digital trade. Trade Minister Yeo said, “India is a key pillar in the reshaping of global supply chains and one of Korea’s most important partners in the New Southern region. We will continue consultations with the Indian government to further expand mutually beneficial economic cooperation.” Building on the outcomes of the visit, MOTIR will maintain momentum in the Korea–India CEPA upgrade talks while continuing to expand support for Korean companies seeking to enter the market. date2026-03-16