Ministry of Trade Industry and Resources

Meeting with the Minister of Commerce of China

JK (Jung-Kwan) Kim, Minister of Trade, Industry and Resources (MOTIR), met with Wang Wentao, Minister of Commerce of China, at the Ministry of Commerce in Beijing on Friday, December 12. The meeting was attended by government delegations from both countries.   During the meeting, the two sides discussed ways to enhance bilateral economic and trade cooperation, including follow-up measures to the agreements reached at the Korea–China summit held during President Xi Jinping’s state visit to Korea on November 1. date2025-12-15

MOTIR and China’s Ministry of Commerce Hold Trade Ministers’ Meeting in Beijing After Seven-Year Hiatus

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited Beijing from Thursday, December 11 to Friday, December 12, 2025, to hold a Korea–China Trade Ministers’ Meeting with Wang Wentao, Minister of Commerce of China. The meeting marked the first standalone bilateral trade ministers’ meeting in seven years, following the previous meeting held in Beijing in June 2018, and took place just over a month after the two sides met on November 1, 2025, in Gyeongju on the margins of the APEC Economic Leaders’ Meeting.  At the meeting, the two sides discussed ways to enhance bilateral economic and trade cooperation, including follow-up measures to the agreements reached at the Korea–China summit held during President Xi Jinping’s state visit to Korea on November 1, 2025. Minister Kim and Minister Wang shared the view that close inter-ministerial communication should be maintained to sustain the momentum toward restoring bilateral relations and to deliver tangible outcomes that contribute to the recovery of people’s livelihoods. As bilateral trade has remained stagnant since reaching a record USD 310.4 billion in 2022, the two sides agreed to expand trade and promote mutual investment, including through regular ministerial-level exchanges to advance substantive discussions. Recognizing that bilateral trade has largely focused on goods, they agreed to expand service trade based on the “Memorandum of Understanding (MOU) on Strengthening Service Trade Cooperation” signed on the margins of the recent summit. The two sides also agreed to convene the Korea–China FTA Joint Committee at an early date to review the implementation of the FTA and identify ways to enhance its effectiveness, as well as to accelerate negotiations on the Korea–China FTA covering services and investment.   Both sides emphasized the importance of strengthening cooperation to revitalize regional economies. Korea agreed to continue cooperation with Chinese provincial governments, including Guangdong, Jiangsu, and Shandong, while expanding collaboration to central and inland regions. China agreed to jointly develop new models for regional cooperation, including the dispatch of investment survey missions to areas such as Saemangeum. They also agreed to leverage existing consultation channels, including the vice-ministerial Korea–China Industrial Complex Consultation, to explore ways to strengthen investment cooperation through Korea–China industrial cooperation complexes. Noting the close interlinkages between the two countries’ supply chains, the ministers agreed to maintain close communication to facilitate the smooth supply of key items, including rare earths. They also agreed to support stable trade in critical minerals through the active use of the general licensing system, based on the Korea–China export controls dialogue. Korea conveyed its position on trade remedy investigations involving Chinese hot-rolled steel products, noting that they are being conducted fairly and transparently in accordance with WTO rules. Both sides agreed on the need to prevent unnecessary misunderstandings arising from trade remedy measures and to enhance prior communication through regular director-general-level meetings.   The two sides reaffirmed the importance of a WTO-centered, rules-based multilateral trading system and agreed to continue cooperation under regional frameworks including APEC and RCEP. Korea also agreed to support China’s successful hosting of APEC next year by sharing its experience as a former host economy. Following the meeting, the two sides signed a document titled “Key Cooperation Matters between Korea’s Ministry of Trade, Industry and Resources and China’s Ministry of Commerce.” Based on this framework, the two ministries will work to ensure smooth date2025-12-15

MOTIR Holds Roundtable on Modular Trade Agreements with Trade Experts

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) convened the “Roundtable on Modular Trade Agreements” on Wednesday, December 10, at the Korea Chamber of Commerce and Industry in Seoul.   The meeting brought together trade experts from Korea Trade-Investment Promotion Agency (KOTRA), the Korea Institute of Geoscience and Mineral Resources (KIGAM), the Korea International Trade Association (KITA), Naver, Lotte Fine Chemical, and other relevant organizations, companies, and associations to discuss Korea’s strategy for reshaping global trade norms and cooperation structures through new modular trade agreements.   In his remarks, Trade Minister Yeo stated that “modular trade agreements constitute a new cooperation model that enables Korea to take the lead in shaping international standards for next-generation trade rules amid a rapidly changing global environment.” He emphasized that “by enabling flexible and timely cooperation tailored to each country’s circumstances and business needs, the government will build a trade network that delivers tangible benefits to businesses.” date2025-12-12

Korea Launches Modular Trade Agreement Initiative to Lead the Future Global Trade Order

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Trade Minister Yeo Han-koo convened a roundtable on new modular trade agreements on Wednesday, December 10, 2025, at the Korea Chamber of Commerce and Industry, to discuss Korea’s strategy for reshaping global trade norms and cooperation structures through a new modular framework. The concept of modular trade agreements reflects growing recognition that traditional FTAs—focused largely on market opening—are no longer sufficient to fully address emerging trade issues such as supply-chain resilience, the green economy, and digital and AI transformation amid rising global uncertainty. For emerging economies with significant resources and growth potential but high sensitivity to market opening, the government noted that a tailored trade-cooperation model that more precisely reflects each country’s circumstances and cooperation needs has become increasingly important. Accordingly, MOTIR plans to gather broad input from industry and experts as it prepares a modular approach to new trade agreements. The ministry will first develop standard text for four key areas—supply chains, critical minerals, the green economy, and digital trade—after which specific modules and detailed provisions will be selected and combined for partner countries based on their respective conditions and cooperation needs. At the roundtable, Trade Minister Yeo Han-koo stated, “Modular trade agreements represent a new cooperation model that enables Korea to take the lead in shaping international standards for next-generation trade rules amid a rapidly changing global environment.” He added, “Through flexible and timely cooperation tailored to each country’s circumstances and business needs, we will build a trade network that delivers tangible benefits to Korean companies.” Industry representatives and experts emphasized that new modular trade agreements must be closely aligned with the actual risks and needs faced by companies, noting the model’s significantly enhanced timeliness, flexibility, and responsiveness compared to traditional FTAs. Based on feedback shared at the roundtable, MOTIR will further refine and finalize the standard text for each module by the end of 2025. Using this framework, the ministry plans to apply the modular approach first to next year’s FTA upgrade negotiations with Singapore and ASEAN, before expanding its use to additional partner countries. date2025-12-11

Korea and Japan Strengthen Investment and Supply Chain Cooperation Amid Rising Trade Uncertainties

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held a roundtable with the Seoul Japan Club (SJC) and representatives of Japanese-invested companies at the Korea Press Center’s SJC conference room on Thursday, December 11, 2025. Japan has become Korea’s largest foreign investor despite global trade uncertainties, reaching a record USD 6.1 billion in reported FDI last year—ranking first among all investing countries. Against this backdrop, the roundtable aimed to strengthen dialogue with Japanese companies operating in Korea, providing an opportunity to closely assess their perspectives and challenges and to explore ways to support stable investment activities. Participants included Matsuura Tetsuya, SJC Chairman and President of Mitsubishi Corporation Korea; representatives of major Japanese investors; and officials from the Japan External Trade Organization (JETRO) and the Japan Chamber of Commerce and Industry in Korea. The Japanese side shared expectations for the new government’s economic policies, called for progress on SJC’s annual recommendations for Japanese companies investing in Korea, raised concerns over the amended Labor Union Act, and requested streamlined entry procedures for foreign businesspersons. Trade Minister Yeo underscored the importance of Korea–Japan cooperation, noting that “the two countries face similar pressures—from U.S. tariff actions and investment dynamics to China’s export controls and EU environmental rules.” He added that “to ensure Japan’s investment in Korea strengthens bilateral supply chains, Korea and Japan should build a future-oriented economic partnership by expanding cooperation in advanced industries, including AI, semiconductors, biotechnology, and new energy.” He also stated that “MOTIR will continue supporting Japanese investors by actively reviewing the SJC’s recommendations to be submitted in early 2026.” To further attract Japanese investment, MOTIR will thoroughly review the proposals raised at the roundtable with the relevant ministries and continue creating opportunities for communication with major foreign-invested companies. date2025-12-11

Korea Opens “Rare Metals Cooperation Center” to Advance Critical Minerals Partnership with Mongolia

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that it will officially open the Korea–Mongolia Rare Metals Cooperation Center on Friday, December 12, 2025, at the Mongolian University of Science and Technology in Ulaanbaatar. The center, established through a grant-based ODA program, will receive approximately KRW 9.8 billion in support from 2023 to 2027. About 150 participants will attend the opening ceremony, including representatives from Mongolia’s Ministry of Mining and Heavy Industry (MMHI), the Mineral Resources and Petroleum Authority, and the Geological Center for Research and Analysis (GCRA), as well as officials from MOTIR, the Korea Institute for Advancement of Technology (KIAT), and the Korea Institute of Geoscience and Mineral Resources (KIGAM). Since 2023, MOTIR has been promoting the establishment and operation of Rare Metals Cooperation Centers through ODA programs to strengthen cooperation in critical mineral supply chains. The Mongolia center is the first to open among five centers being established in countries such as Uzbekistan, Vietnam, Kazakhstan, and Indonesia. Jointly operated by KIGAM and Mongolia’s GCRA, the center will analyze tungsten, molybdenum, lithium, and other rare metals found in Mongolia and provide technical training in mineral processing, refining, and smelting. These activities aim to help Mongolia enhance the value of its rare metal resources and connect them to viable production. MOTIR assessed that the center’s opening marks an important milestone in bilateral cooperation on critical minerals and stated it will continue supporting the center’s operations, thereby advancing Mongolia’s rare metals industry and strengthening Korea’s medium- to long-term supply chain stability. date2025-12-11

Meeting with the New Ambassador of India to Korea

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR) met with Gourangalal Das, the newly appointed Ambassador of India to Korea, on Wednesday, December 10, at the Korea Chamber of Commerce and Industry in Seoul to discuss ways to expand economic and trade cooperation between the two countries.   During the meeting, Trade Minister Yeo underscored India’s importance as a key country in the New Southern region and highlighted Korea’s expectation that both sides will deepen their partnership by achieving new economic outcomes in areas with strong cooperation potential, including shipbuilding, critical minerals, and greenhouse gas reduction. date2025-12-10

Korea to Strengthen Economic and Trade Cooperation with India, a Key Country in the New Southern Region

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Gourangalal Das, the newly appointed Ambassador of India to the Republic of Korea, on Wednesday, December 10, 2025, at the Korea Chamber of Commerce and Industry. The two sides held wide-ranging discussions on ways to expand economic and trade cooperation between Korea and India. Trade Minister Yeo underscored India’s role as a key country in the New Southern region and a major economic cooperation partner for Korea. He expressed hope that the two countries would further deepen their partnership by generating tangible economic outcomes in areas with strong cooperation potential, such as shipbuilding, critical minerals, and greenhouse gas reduction. Ambassador Das reaffirmed his commitment to advancing bilateral economic and trade cooperation during his tenure. Both sides shared the view that improving the Korea–India Comprehensive Economic Partnership Agreement (CEPA) is necessary to establish a mutually beneficial trade framework and expand bilateral economic and trade cooperation. They agreed to maintain close communication to resume upgrade negotiations as soon as possible. Trade Minister Yeo also noted that more than 670 Korean companies currently operate in India but continue to face challenges due to non-tariff barriers, including BIS certification requirements and trade remedy measures. He requested India’s support to ensure that these companies can continue contributing to bilateral economic cooperation. MOTIR will work closely with the Embassy of Korea, KOTRA trade offices, Korea Plus in India, and other local support institutions to foster a stable business environment for Korean companies operating in India. date2025-12-10

Ministry Advances Preparations for Korea–U.S. FTA Joint Committee and Korea–UK FTA Upgrade Negotiations

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) convened the 52nd Trade Promotion Committee on Wednesday, December 10, 2025, at the Korea Chamber of Commerce and Industry in Seoul. Chaired by Trade Minister Yeo Han-koo, the meeting brought together relevant ministries to discuss plans for the upcoming Korea–U.S. FTA Joint Committee, assess progress on the Korea–UK FTA upgrade negotiations, and examine key trade issues involving the EU, Mexico, and Canada, as well as recent developments related to the U.S. IEEPA lawsuit. The government aims to convene the Korea–U.S. FTA Joint Committee within the year based on the Korea–U.S. Joint Fact Sheet (JFS), which outlines agreed commitments in areas such as automobiles, agriculture, and digital trade. MOTIR will work closely with relevant ministries to ensure thorough preparations and develop concrete implementation measures. Regarding the Korea–UK FTA upgrade negotiations, the government reaffirmed its commitment, made at the June 2025 G7 Summit, to conclude negotiations by the end of the year. Ministries will strengthen coordination to resolve remaining issues in the services, investment, and digital sectors. Participants also discussed major trade developments—including steel import restrictions by the EU and Canada, Mexico’s tariff announcements, and developments in the U.S. IEEPA lawsuit—and reviewed Korea’s response strategies. Trade Minister Yeo emphasized that “although the Korea–U.S. tariff negotiations have been concluded, stable management of non-tariff issues remains critically important,” and called for “active inter-ministerial cooperation as the government prepares for the Joint Committee.” He also underscored the government’s commitment to “remain vigilant and pursue proactive response measures as major economies beyond the U.S. expand protectionist measures and global trade conditions remain volatile." date2025-12-10

Korea and the EU to Establish a “Next Generation Strategic Dialogue” on Economic Security and Supply Chains

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) visited Brussels, Belgium, from December 1 to December 3, 2025, and met with senior European Union officials, including Maroš Šefčovič, Commissioner for Trade and Economic Security, and Borys Budka, Chair of the European Parliament’s Committee on Industry, Research and Energy (ITRE). Their discussions covered a wide range of key trade issues and future cooperation measures, including the establishment of a future-oriented Korea–EU cooperation framework, the EU’s planned steel tariff rate quota (TRQ) system, the EU Battery Regulation, the Carbon Border Adjustment Mechanism (CBAM), the Foreign Subsidies Regulation (FSR) investigation related to the Czech nuclear project, and the Korea–EU Digital Trade Agreement (DTA).  The visit aimed to reinforce the mutually beneficial and strategic partnership between Korea and the EU amid rapid changes in the global trade landscape—including rising protectionism and supply chain restructuring—as well as to resolve trade barriers facing Korean companies entering the EU market. The two sides recognized their long-standing partnership based on shared values of free trade and a market economy and agreed to maintain close communication to respond proactively to global overcapacity, the spread of protectionism, and the transition toward carbon neutrality. They also committed to deepening cooperation in supply chains, digital trade, and economic security. Key Outcomes and Discussions  Both sides agreed that the current Korea–EU FTA is insufficient for addressing emerging issues such as digital trade, supply chains, and economic security. Korea proposed enhancing cooperation by managing potential trade and investment risks for Korean firms in the EU and deepening high-level engagement on emerging trade issues. The two sides agreed to launch a Next Generation Strategic Dialogue on Trade, Supply Chains & Technology in the first half of 2026. Korea called for favorable consideration under the EU’s planned steel import restrictions, including stable quota allocation or possible TRQ exemption. The EU responded that Korea is being considered among the First Group of negotiation partners and that it would explore measures to mitigate potential impacts on Korean companies. Korea also urged the EU to support battery-sector investors and reduce regulatory uncertainty by swiftly finalizing the implementing rules under the Battery Regulation, ensuring coherence with related EU policies, and recognizing batteries as part of the Energy Intensive Industry Sector. Chair Borys Budka emphasized that Korea and Europe have become deeply interdependent partners in the battery supply chain and proposed expanding practical cooperation, including potential joint-production models. Korea welcomed recent improvements in CBAM rules but urged the EU to finalize emissions-calculation methodologies and verifier standards to reduce uncertainty. Korea also cautioned that expanding CBAM coverage to downstream products could burden SMEs and stressed that any such expansion should follow sufficient impact assessments. Korea emphasized the need to avoid double regulation for countries with emissions-trading schemes such as K-ETS. Korea expressed serious concern over the FSR investigation related to Korea Hydro & Nuclear Power’s bid for the Czech nuclear project, stating that the bid was selected through fair competition and involved no market-distorting subsidies. Korea requested a careful and impartial review. Both sides agreed to complete domestic procedures promptly so that the Korea–EU DTA can be signed at the next high-level meeting. date2025-12-05