Ministry of Trade Industry and Resources

Joint Press Release on the Substantive Conclusion of Discussions for the Republic of Peru’s Accession to the Digital Economy Partnership Agreement

The Parties to the Digital Economy Partnership Agreement (DEPA) are pleased to announce the substantive conclusion of discussions for the Republic of Peru’s accession to this world-leading digital trade agreement. Digitally signed in 2020 by Chile, New Zealand and Singapore, the DEPA is the world’s first standalone digital economy agreement and represents a forward-looking model for economic engagement and trade in the digital era. The Agreement reinforces commercially meaningful digital trade rules, fosters new approaches and collaborations in digital trade, promotes interoperability across different regulatory frameworks, and addresses emerging challenges arising from digitalisation. Designed as an open and inclusive framework, the DEPA is open to economies that are able to meet its high standards. The Republic of Korea joined the DEPA on 3 May 2024 as the first new member economy. Peru formally requested accession to the DEPA on 23 May 2023, and an Accession Working Group was established on 7 November 2024 to assess the request. Following a comprehensive assessment, the Accession Working Group, chaired by the Republic of Korea, agreed that, based on Peru’s existing legal framework, policies and practices, Peru has demonstrated its capacity to comply with the DEPA’s provisions. Peru has also shown a strong commitment to engaging constructively with DEPA Parties on areas of shared interest, including digital trade facilitation, consumer protection and cross-border data flows. The DEPA Parties will now continue to work with Peru to advance the remaining steps of the accession process in a timely manner, consistent with each Party’s domestic procedures and the DEPA Accession Process. Chile’s Vice Minister of International Economic Relations Claudia Sanhueza said, “Chile and Peru share a long history of economic integration and forward-looking trade cooperation. In this context, Chile warmly welcomes the substantive conclusion of discussions for Peru’s accession to the DEPA, a step that strengthens our joint commitment to building a high-quality regulatory framework that promotes digital trade. This milestone deepens our shared vision for a modern and inclusive digital economy and opens new opportunities for regional cooperation and innovation.” New Zealand’s Minister for Trade and Investment Todd McClay said, “New Zealand is pleased to join Parties in inviting Peru to accede to the DEPA. Throughout the process, Peru has demonstrated that it shares our commitment to progressive, high-quality digital trade rules and the DEPA’s vision. Peru’s accession will strengthen DEPA as a leading high standards digital economy agreement and we look forward to working closely with them to advance its objectives.” Singapore’s Minister-in-charge of Trade Relations and Minister for Sustainability and the Environment Grace Fu said, “Singapore warmly welcomes the substantive conclusion of Peru’s accession negotiations to the DEPA. This marks another important milestone for the DEPA. The expansion of the DEPA’s membership will unlock more opportunities and add further weight to the DEPA’s ambition to foster more open digital markets. We look forward to partnerships with Peru through the DEPA to expand and enhance collaborations in digital trade. We are hopeful that the DEPA will continue to attract like-minded partners who share our vision in digital economy cooperation.” The Republic of Korea’s Minister for Trade Yeo Han-Koo said, “We welcome the substantial conclusion of Peru’s accession negotiations to Digital Economy Partnership Agreement. Peru is an important partner that shares DEPA’s vision of an open and inclusive digital trade order. Peru’s accession represents a meaningful step forward in advancing the DEPA as a global platform for digital trade cooperation date2026-01-14

Korea’s Trade Minister to Meet with U.S. Officials, Members of Congress, and Industry Leaders to Discuss Key Korea–U.S. Trade Issues

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will visit Washington, D.C., January 11–14, 2026 (local time), to meet with key stakeholders—including the Office of the U.S. Trade Representative (USTR), relevant U.S. government agencies, members of Congress, and industry representatives—and discuss Korea–U.S. trade issues. The visit comes as the U.S. Supreme Court considers the legality of reciprocal tariffs imposed under the International Emergency Economic Powers Act (IEEPA). During the trip, Trade Minister Yeo will closely track developments and consult with relevant agencies and industry to explore response options to minimize potential impacts on businesses. Trade Minister Yeo will also hear concerns from members of Congress and industry stakeholders regarding Korea’s domestic digital legislation, while underscoring that it is neither discriminatory toward U.S. companies nor intended to create unnecessary barriers. In meetings with the USTR, Trade Minister Yeo will review progress on preparations for the Korea–U.S. Free Trade Agreement (FTA) Joint Committee and coordinate details, including the agenda and schedule. Trade Minister Yeo emphasized, “As Korea moves forward with legislation in areas such as digital policy, it is important to maintain a stable Korea–U.S. trade environment through thorough stakeholder consultations and close coordination among relevant ministries. date2026-01-12

Industry Briefing on the Conclusion of Korea–UK FTA Upgrade Negotiations

Kwon Hye-jin, Director General for Trade Negotiations at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the industry briefing on the conclusion of the Korea–UK Free Trade Agreement (FTA) upgrade negotiations held at Lotte Hotel Seoul on Thursday, January 8, 2026. Following her opening remarks, Director General Kwon shared with industry stakeholders the outcomes of the Korea–UK FTA upgrade negotiations concluded on December 15, 2025. The briefing was attended by officials from relevant ministries, representatives of related institutions, and executives from companies across the manufacturing and services sectors. date2026-01-12

UK Export Benefits to See Major Changes: MOTIR Briefs Industry on Outcomes of Korea–UK FTA Upgrade

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held an industry briefing on Thursday, January 8, 2026, at Lotte Hotel Seoul to explain the outcomes of the Korea–UK Free Trade Agreement (FTA) upgrade negotiations concluded on December 15, 2025. The briefing was attended by Kwon Hye-jin, Director General for Trade Negotiations at MOTIR, along with representatives from export-related institutions—including the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea International Trade Association (KITA)—and major companies from the manufacturing and services sectors. The event highlighted the practical benefits of the upgraded Korea–UK FTA, which reflects changes in the trade environment following the United Kingdom’s withdrawal from the European Union (Brexit). The program featured two sessions: one covering achievements in manufacturing and investment, and another focusing on outcomes in the services sector. In addition to gains in traditional manufacturing industries such as automobiles, the briefing underscored key services and investment-related achievements, including eased entry for Korean professionals into the UK, market access for webtoons and online games, and efforts to promote a co-production agreement in the audiovisual services sector. These outcomes are expected to enhance FTA utilization by Korean service companies and expand their access to the UK market. Director General Kwon stated, “More important than concluding an FTA is ensuring that companies can effectively utilize it in practice,” adding that “the government will continue to engage closely with industry and focus policy efforts on supporting and expanding Korean companies’ presence in the UK market.” MOTIR also plans to expedite follow-up procedures required for the agreement’s entry into force, including legal reviews and the Korean translation of the agreement text, to ensure that industry can benefit from the outcomes of the negotiations as early as possible. date2026-01-09

EU CBAM Enters Full Implementation; Government and Industry Coordinate Response

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) convened a meeting with industry stakeholders on the EU’s Carbon Border Adjustment Mechanism (CBAM) on January 8, 2026, at the Korea Iron & Steel Association. On this occasion, MOTIR and the steel industry reviewed the implications of the CBAM’s full implementation and discussed future response strategies. The CBAM entered into full force on January 1, 2026, under which carbon costs will be levied on importers of covered products entering the EU market. The EU completed legislative amendments aimed at simplifying the CBAM in October last year and, in December, enacted or revised nine secondary regulations, including methodologies for calculating carbon emissions. The remaining secondary regulations, which cover issues such as carbon prices paid in third countries, are expected to be released in the first half of this year. Major domestic steelmakers attending the meeting noted that they had established compliance systems in advance during the transitional period and therefore expected to navigate regulatory changes following the CBAM’s full entry into force. They also assessed that the EU’s recent announcements on secondary regulations have helped reduce uncertainty and highlighted that verification can now be conducted through EU-accredited domestic verifiers. At the same time, the industry called for continued intergovernmental cooperation to ensure that Korea’s industrial characteristics are duly reflected in addressing remaining ambiguities. Lee Jae-keun, Director General for New Trade Strategy and Policy at MOTIR, stated, “As the EU plans to pursue further legislative amendments through the end of this year, MOTIR will continue working with the EU to reflect the characteristics of Korean industries.” He added, “The government will communicate with EU authorities on implementation-related uncertainties and promptly provide guidance to industry.” MOTIR will pursue additional consultations with the EU based on the industry feedback gathered at the meeting and, in cooperation with relevant ministries, develop support measures in response to the CBAM’s full implementation. date2026-01-08

Trade Minister Yeo Han-koo Visits Zhongguancun in Beijing

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) visited Zhongguancun, a major hub for advanced technology and innovation, located in Haidian District, Beijing, on Tuesday, December 30, 2025. During the visit, Minister Yeo met with Kim Jong-moon, Head of the Korea Innovation Center (KIC China), and discussed the local startup ecosystem as well as the current status of Korean startups’ entry into the Chinese market. The visit formed part of the government’s efforts to strengthen support for Korean startups seeking to expand into China and to deepen on-the-ground engagement with local innovation ecosystems.    date2026-01-01

Korea–China Trade Ministers’ Meeting

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and Li Chenggang, Vice Minister of Commerce and International Trade Representative of China, held the Korea–China Trade Ministers’ Meeting on Tuesday, December 30, 2025, at China’s Ministry of Commerce. Following opening remarks, the two sides discussed measures to accelerate follow-up negotiations on services and investment under the Korea–China Free Trade Agreement (FTA) and reviewed the status of the FTA’s implementation. The meeting brought together government representatives from Korea and China to exchange views on advancing the implementation of the Korea–China FTA and strengthening bilateral trade cooperation. date2026-01-01

Draft Korean Texts of the Korea–Georgia CEPA and Korea–Malaysia FTA to be Released for Public Comment

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that it will release the draft English and Korean texts of the Korea–Georgia Comprehensive Economic Partnership Agreement (CEPA), concluded in November 2024, and the Korea–Malaysia Free Trade Agreement (FTA), concluded in October 2025. The texts will be available on the government’s FTA website (www.fta.go.kr) from December 31, 2025, to January 19, 2026, during which the ministry will accept public comments. Public comments will be accepted in accordance with MOTIR’s procedural regulations for drafting Korean translations of trade agreements (MOTIR Directive No. 127) to ensure transparency in the process and enhance the reliability of the translations. In consultation with relevant ministries and experts, MOTIR will review submitted public comments and reflect them as appropriate into the final Korean versions of the texts. Following reviews by the Ministry of Foreign Affairs and the Ministry of Government Legislation, the agreements will be formally signed after consultations with Georgia and Malaysia, and subsequently submitted to the National Assembly for ratification in accordance with the Trade Treaty Conclusion Procedure Act. date2025-12-31

Korea and China Hold Trade Ministers’ Meeting

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and Li Chenggang, Vice Minister of Commerce and International Trade Representative of China, held the Korea–China Trade Ministers’ Meeting on Tuesday, December 30, 2025, at China’s Ministry of Commerce. At the meeting, the two sides discussed ways to accelerate the subsequent negotiations for services and investment under the Korea–China Free Trade Agreement (FTA) and reviewed the status of the FTA’s implementation. To expedite the subsequent negotiations for services and investment, the two sides agreed to regularly convene in-person meetings from 2026 onward, aiming to narrow differences through focused discussions on outstanding issues. They also agreed to hold an additional Trade Ministers’ Meeting in the first half of next year, at which Trade Minister Yeo Han-koo and Representative Li Chenggang will directly review progress in the negotiations and discuss outstanding issues. The discussions further addressed issues related to the implementation of the Korea–China FTA, including those concerning intellectual property rights, the petrochemical sector and government procurement issues. Both sides reaffirmed their commitment to strengthening bilateral cooperation based on the FTA framework. Ahead of the Trade Ministers’ Meeting, Trade Minister Yeo met with Korean stakeholders with business operations in China on December 29, 2025, to review major business trends and hear firsthand about challenges faced by stakeholders on the ground. The Trade Minister and the Korean delegation categorized these concerns by sector, distinguishing between issues that can be addressed in the short term and those requiring mid- to long-term consultations, and exchanged views with stakeholders on future support measures. The Stakeholder concerns raised at the meeting were discussed at the Trade Ministers’ Meeting and will also continue to be addressed in the subsequent negotiations and at the Joint Committee and relevant Committees under the Korea-China FTA as FTA implementation issues. Going forward, MOTIR plans to maintain regular communication with stakeholders to ensure that on-the-ground perspectives are incorporated into policy discussions, while strengthening support to stabilize the business environment and enhance market access for Korean stakeholders in China. During the visit, Trade Minister Yeo held separate meetings with high-level officials (minister-level) from the China Council for the Promotion of International Trade (CCPIT) and the Development Research Center of the State Council (DRC). The discussions covered changes in the global trade environment, the industrial impact of supply chain restructuring and technological innovation, as well as ways to strengthen Korea–China trade cooperation. The need to maintain sustained policy dialogue channels on shared challenges facing stakeholders in both countries, including environmental and digital transitions, evolving global rules, and enhancing the predictability of trade and investment cooperation was underscored during the meetings. Building on this shared understanding, MOTIR plans to gradually establish a practical foundation for cooperation by expanding policy research collaboration and strengthening industry-level communication. In addition, Trade Minister Yeo visited the Korea Innovation Center (KIC) in Zhongguancun to discuss ways to support Korean startups’ entry into the Chinese market. Trade Minister Yeo also visited GALBOT (Beijing Galaxy General Robot Co., Ltd.), an innovative Chinese robotics company, and met with a top executive to observe how robots are deployed in real production settings for quality control, process automation, and digital transformation. The discussions covered key use cases, on-site demand, potential areas for technological cooperation with Korean compan date2025-12-30

MOTIR Holds Public Hearing to Gather Stakeholder Input on Advancing the Korea–Egypt CEPA

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) convened a public hearing on Monday, December 22, at Conrad Seoul to gather stakeholder views on advancing the Korea–Egypt Comprehensive Economic Partnership Agreement (CEPA). Building on the Trade and Economic Partnership MOU signed with Egypt’s Ministry of Investment and Foreign Trade in 2022, MOTIR has jointly conducted a feasibility study to support advancing a Korea–Egypt CEPA. During the Korea–Egypt summit held in November, the two countries agreed to pursue a CEPA as an institutional framework to expand bilateral trade and investment, as well as to strengthen cooperation across diverse areas, including supply chains, the digital sector, and energy. The two sides have since accelerated related procedures, such as concluding the joint economic feasibility study. The public hearing brought together Korean companies operating in Egypt, the Korea Institute for International Economic Policy (KIEP), the Korea International Trade Association (KITA), the Korea Trade-Investment Promotion Agency (KOTRA), and regional experts, who shared views on the expected effects of the Korea–Egypt CEPA and key considerations. One expert panel noted that “advancing a CEPA with Egypt—a key economy in North Africa and a logistics hub anchored by the Suez Canal—carries significant strategic importance, particularly in terms of expanding into emerging export markets amid rapidly shifting global trade conditions.” MOTIR will establish a negotiation roadmap for a Korea–Egypt CEPA by reflecting feedback gathered at the public hearing and will continue domestic and international consultations to facilitate the early launch of negotiations. date2025-12-22