Ministry of Trade Industry and Resources

Republic of Korea and Japan Strengthen Collaboration on Critical Mineral Supply Chains

The Republic of Korea and Japan are accelerating cooperation to stabilize sustainable supply chains between producer and consumer countries, amid growing instability in the global supply chain for critical minerals. In line with these efforts, the Ministry of Trade, Industry and Resources (hereinafter ‘MOTIR’) held the ‘2nd ROK-Japan Mineral Resources Cooperation Dialogue’ with Japan's Ministry of Economy, Trade and Industry (hereinafter ‘METI') at the Lotte Hotel in Seoul on December 17. Korea and Japan have developed similar industrial frameworks that are focused on advanced manufacturing sectors, such as semiconductors, batteries, and materials and components. Both countries are significant consumers of critical minerals and, as such, rely substantially on imports to fulfill their domestic requirements. In light of the recent segmentation of critical mineral supply chains—particularly between the United States and China—and the enhanced collaboration among producing countries, there is growing recognition of the importance of fostering international cooperation that reflects the perspectives and interests of consuming countries. In celebration of the 60th anniversary of diplomatic relations between Korea and Japan, both countries have recognized the importance of securing global critical mineral supply chains as a pivotal area for collaboration. In this spirit, they convened the inaugural ROK-Japan Mineral Resources Cooperation Dialogue in February of this year, reaffirming their commitment to joint efforts in this essential sector. At that time, the two countries discussed comprehensive cooperation measures, including △joint procurement of critical minerals and △stockpiling cooperation, and agreed to hold this dialogue regularly. Since then, both countries have jointly responded to policy uncertainties by continuing engagements including bilateral meetings on the sidelines of multilateral conferences. This second meeting was arranged as a follow-up to review the outcomes of cooperation over the past year and to deepen collaboration further. At this meeting, the two countries focused on discussing: △ Responding to low copper TC/RC situation, △ Strengthening cooperation within multilateral consultative bodies such as the G7 and the Mineral Security Partnership (MSP), and △ Exploring ways to initiate joint critical mineral development and production projects in third country destinations. A particularly noteworthy aspect of the discussion was the recent rise in copper prices alongside the prevailing instability in the supply of copper concentrate. Both countries underscored the importance of strengthening their collaboration and establishing tangible measures to stabilize global copper supply while promoting sustainable co-prosperity between mining operations and smelters. MOTIR stands ready to facilitate ROK-Japan joint projects, particularly in Latin America, Asia, and Africa, where Korean companies can either expand their engagement or enter into new projects. MOTIR aims further to enhance cooperation with Japan and other like-minded countries to establish a more stable supply chain for critical minerals. It will also actively pursue collaborative models that allow both producing and consuming countries to thrive together in the global critical minerals market. date2025-12-18

Korea and the EU Launch Efforts to Operationalize Supply Chain and Economic Security Partnership

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Denis Redonnet, Deputy Director-General of the European Commission’s Directorate-General for Trade and Economic Security, in Seoul on Wednesday, December 17, 2025. As the EU’s top trade enforcement official, Deputy Director-General Redonnet oversees key trade agendas, including free trade agreements, trade remedies, and economic security. The meeting followed the December 2, 2025 talks between Trade Minister Yeo Han-koo and European Commissioner for Trade and Economic Security Maroš Šefčovič. It focused on implementing the Korea–EU Next Generation Strategic Dialogue agreed during those talks, as well as strengthening cooperation on economic security, supply chains, and technology. Deputy Minister Park noted that growing protectionism, intensifying technological competition, and disruptions in global supply chains are increasing uncertainty in the global economy. He stated that economic security alliances and strategic coordination among like-minded countries are emerging as key drivers of competitiveness. While underscoring that Korea and the EU have built their partnership on free trade, he emphasized the need to further strengthen cooperation to develop the bilateral partnership into a future-oriented one encompassing economic security and advanced industries. Against this backdrop, the two sides welcomed the elevation of the ministerial-level Korea–EU FTA Trade Committee, which previously focused on goods and services, into the Next Generation Strategic Dialogue on Trade, Supply Chains, and Technology, as agreed during the trade ministers’ meeting on December 2, 2025. They shared the view that this dialogue framework would enable more comprehensive and higher-level cooperation and agreed to work closely toward holding its first meeting in the first half of 2026. The Korean side also conveyed the concerns and requests of Korean companies regarding key industrial issues, including steel, nuclear power, and batteries, and called for the EU’s active cooperation. On steel, Korea expressed concerns over the EU’s plan to introduce new steel import measures and emphasized the need to secure sufficient export allocation for Korean steel products. Regarding the EU’s Foreign Subsidies Regulation (FSR) investigation related to the Czech nuclear power project, the Korean side emphasized that Korea Hydro & Nuclear Power was selected through a transparent and fair bidding process in compliance with EU rules and reaffirmed that no subsidies inconsistent with market principles were provided, requesting that the investigation be conducted fairly and reasonably. On batteries, Korea requested that the EU support expanding demand for EV and ESS batteries produced within the EU, consider including the battery industry in the Energy Intensive Industry sector, and advance the delayed follow-up legislation under the Battery Regulation promptly and predictably. The Korean side also welcomed the European Commission’s efforts to simplify the Carbon Border Adjustment Mechanism (CBAM) and noted that recent revisions reflected Korea’s concerns, including the partial easing of certification requirements and the introduction of exemption criteria for SMEs. It called for continued bilateral communication to ensure that the mechanism becomes more reasonable and predictable. Following the meeting, the two sides agreed to establish a standing communication channel on key trade issues to ensure that the Korea–EU Next Generation Strategic Dialogue delivers tangible outcomes.. date2025-12-18

Meeting with Norway’s State Secretary for Trade, Industry and Fisheries

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK (Jung-Kwan) Kim), met with Ragnhild Sjoner Syrstad, State Secretary at Norway’s Ministry of Trade, Industry and Fisheries, at Lotte Hotel in Seoul on Tuesday, December 16, to discuss ways to strengthen substantive bilateral cooperation between Korea and Norway in response to recent changes in the global trade environment.   Deputy Minister Park noted that bilateral trade has expanded both in scale and in quality since the entry into force of the FTA and emphasized that practical cooperation between Korea and Norway is advancing in the shipbuilding sector, particularly in autonomous navigation and AI-based future ship technologies. He added that Korea hopes to further expand bilateral cooperation into advanced industries, including the green transition and critical supply chains. date2025-12-18

Signing Ceremony for the Conclusion of the Korea–UK Free Trade Agreement (FTA) Upgrade Negotiations

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK (Jung-Kwan) Kim) and Sir Chris Bryant, Minister of State at the United Kingdom’s Department for Business and Trade, met in London on Monday, December 15, and signed a joint declaration confirming the conclusion of the Korea–UK Free Trade Agreement (FTA) upgrade negotiations.   Trade Minister Yeo emphasized that “the upgraded Korea–UK FTA will strengthen the free-market system in a trade environment with heightened uncertainty,” noting that it would provide an opportunity to enhance economic cooperation ties with the UK, a key partner in Europe. Sir Chris Bryant remarked that the agreement would boost the UK’s world-class services sector and support iconic brands, helping to accelerate economic growth. date2025-12-18

Korea and the UK Conclude Upgrade Negotiations for the Korea–UK Free Trade Agreement

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and Sir Chris Bryant, Minister of State at the United Kingdom’s Department for Business and Trade, met in London on Monday, December 15, 2025, and signed a joint declaration confirming the conclusion of the Korea–UK Free Trade Agreement (FTA) upgrade negotiations. Key Developments Following the UK’s decision to withdraw from the European Union (Brexit), Korea and the UK concluded the Korea–UK FTA in 2021 on terms identical to the Korea–EU FTA, which entered into force in 2011, to ensure continuity in trade and investment and to maintain a stable and predictable business environment. In line with a provision of the original agreement calling for follow-up negotiations within two years of its entry into force, both sides have held six rounds of upgrade negotiations and five rounds of trade ministers’ meetings, along with multiple intersessional meetings, since January 2024. At a bilateral meeting held on the margins of the G7 Summit in Canada in June 2025, the leaders of Korea and the UK agreed to accelerate talks to conclude the FTA upgrade negotiations within the year. After outstanding issues were resolved through additional discussions on services and investment held this month, the two sides formally declared the negotiations concluded at the trade ministers’ meeting in London. Significance and Assessment of the Korea–UK FTA The UK is the world’s sixth-largest economy and Europe’s second-largest by nominal GDP. It is also a global hub for finance and investment, accounting for the largest shares of international bank lending and foreign exchange transactions worldwide. However, bilateral trade volumes and Korea’s exports to the UK rank only around 20th globally, underscoring the need to enhance market access through the upgrade negotiations. The revised Korea–UK FTA is expected to expand bilateral trade by easing the stringent rules of origin for Korea’s key export products and by further opening the UK’s high-speed rail procurement market and major service sectors. It also reflects a broad range of new trade rules aimed at expanding exchanges and cooperation across diverse areas. Trade Minister Yeo emphasized that “the conclusion of the Korea–UK FTA upgrade negotiations will consolidate the free-market order amid growing uncertainty in the trade environment and strengthen economic cooperation with the UK, a key partner in Europe.” He further noted that “the upgraded Korea–UK FTA includes extensive cooperation norms, such as market liberalization, digital trade, and cooperation on supply chain stabilization, to strengthen the Korea–UK trading relationship.” Minister Bryant remarked, “Korean culture has taken off in the UK, with millions of Brits already binge-watching great Korean TV and streaming K-pop artists. Today’s agreement boosts the UK’s world-class services sector and supports iconic brands to speed up our economic growth.” Next Steps Following the declaration of the conclusion of the negotiations, the government will promptly complete the procedures required for formal signature, including legal review and Korean-language translation of the agreement text. After the formal signature, it will proceed with steps necessary for the agreement’s entry into force, including an economic impact assessment and securing the National Assembly’s consent to ratification. date2025-12-17

Korea and Norway Discuss Ways to Build a Practical Partnership Amid Changes in the Global Trade Environment

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Ragnhild Sjoner Syrstad, State Secretary at Norway’s Ministry of Trade, Industry and Fisheries, at Lotte Hotel in Seoul on Tuesday, December 16, 2025, to discuss ways to strengthen substantive bilateral cooperation between Korea and Norway in response to recent changes in the global trade environment. Both sides recognized that rising protectionism and the weakening of the World Trade Organization (WTO) system have increased global trade uncertainty and underscored the importance of closer cooperation between Korea and Norway to stabilize supply chains and enhance industrial competitiveness. They agreed to continue discussions on building a practical partnership to deliver tangible outcomes. The two sides welcomed the resumption of the Korea–Norway Economic Cooperation Committee (KNECC), a private-sector consultative body inactive since 2016, noting that its revival after a decade strengthens the foundation for business-to-business exchanges and the development of joint projects. They agreed to expand government-level support and to pursue more concrete cooperation models and project-based MOUs based on corporate demand. Deputy Minister Park stated, “Building on the complementary industrial structures of Korea and Norway, bilateral trade has expanded in both scale and quality since the FTA’s entry into force.” He noted that “practical cooperation is already advancing in the shipbuilding sector, particularly in areas such as autonomous navigation and AI-based future ship technologies,” emphasizing that “combining Korea’s strengths in manufacturing and ICT with Norway’s maritime and energy technologies could create substantial added value.” He added that “Korea hopes to further expand bilateral cooperation into advanced industries, including the green transition and critical supply chains." date2025-12-17

2025 Korea–Africa Trade and Industry Cooperation Forum

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR), attended the “2025 Korea–Africa Trade and Industry Cooperation Forum” held on Monday, December 15, at Koreana Hotel in Seoul.   The forum brought together around 100 participants, including Kim Young-chae, President of the Korea–Africa Foundation; Chafik Rachadi, Dean of the African Group of Ambassadors in Korea (AGA) and Ambassador of Morocco to Korea; ambassadors from 12 African countries; and representatives from industry.   Deputy Minister Park emphasized that “cooperation between Korea and Africa is a wise choice that can turn crises into opportunities and enable shared growth amid challenges in the global trade environment.” He added that “the government will actively pursue trade agreements with African countries while deepening cooperation in critical minerals and manufacturing supply chains, and also expand infrastructure cooperation in line with local demand in Africa.” date2025-12-16

Korea and African Countries Discuss Ways to Expand Trade and Industry Cooperation

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the “2025 Korea–Africa Trade and Industry Cooperation Forum” on Monday, December 15, 2025, in Seoul. Approximately 100 participants attended the forum, including Park Jung-sung, Deputy Minister for Trade; Kim Young-chae, President of the Korea–Africa Foundation (KAF); Chafik Rachadi, Dean of the African Group of Ambassadors in Korea (AGA) and Ambassador of Morocco to Korea; ambassadors from 12 African countries; and representatives from industry and academia. The forum reviewed the outcomes of economic cooperation with Africa—an emerging hub for production, logistics, and resource supply chains, supported by its young population and abundant resources. Against the backdrop of a rapidly evolving global trade environment marked by growing protectionism and supply chain restructuring, participants discussed ways to strengthen momentum for future collaboration. They also assessed the results of a series of economic cooperation events held by MOTIR and KOTRA across major African countries in November 2025, in connection with the first-ever G20 Summit hosted on the African continent, and discussed ways to advance concrete cooperation measures. In his welcome remarks, Deputy Minister Park emphasized that “cooperation between Korea and Africa is a wise choice that can turn crises into opportunities and promote shared growth amid challenges in the global trade environment.” He added that “the government will actively pursue trade agreements with African countries, strengthen cooperation in critical minerals and manufacturing supply chains, and expand infrastructure partnerships in line with local demand in Africa.” At the forum, MOTIR presented Ministerial Commendations to two individuals in recognition of their contributions to trade cooperation with the Middle East and Africa: Kang Munsu, Associate Research Fellow at the Korea Institute for International Economic Policy (KIEP), and Lee So-won, Team Leader at the Federation of Korean Industries (FKI). date2025-12-15

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