Ministry of Trade Industry and Resources

Korea and the UK Hold Sixth Round of FTA Upgrade Negotiations

Amid growing calls to pursue proactive trade policies to overcome global trade uncertainty and strengthen Korea’s export-driven economy, the sixth round of negotiations to upgrade the Korea–UK Free Trade Agreement (FTA) is being held in Seoul from Monday, November 10, to Friday, November 14. The Office of Trade Negotiations under the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that delegations comprising around 60 officials from both countries will participate in the discussions, led respectively by Kwon Hye-jin, Director General for FTA Negotiations at MOTIR, and Adam Fenn, Deputy Director at the UK Department for Business and Trade, as chief negotiators. Following the United Kingdom’s withdrawal from the European Union (Brexit), Korea and the UK signed the Korea–UK FTA, which took effect in 2021, based on the Korea–EU FTA. Since launching the first round of upgrade negotiations in January 2024, the two sides have held five official rounds and multiple intersessional meetings aimed at easing strict rules of origin, expanding bilateral trade and investment, and establishing a future-oriented cooperation framework to address supply chain disruptions. The sixth round will focus on remaining issues related to services and investment. Trade Minister Yeo Han-koo, who visited the negotiation venue to encourage both delegations, stated, “The upgraded Korea–UK FTA will serve as a modern, comprehensive agreement encompassing not only additional market access but also emerging trade issues such as supply chain resilience and digital trade norms.” He urged the negotiators to make every effort to reach consensus on the remaining issues and conclude the negotiations as swiftly as possible.   date2025-11-10

Vice Minister Meets Saudi Arabia’s Assistant Minister of Industry and Mineral Resources

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources met with Abdullah bin Ali Al-Ahmari, Assistant Minister of Industry and Mineral Resources for Planning and Development of Saudi Arabia on Monday, October 27, 2025, at the Government Complex Seoul in Jongno-gu. During the meeting, the two sides discussed industrial cooperation between Korea and Saudi Arabia and explored measures to support Korean business projects currently underway in Saudi Arabia.   date2025-10-28

Korea and Saudi Arabia Step Up Cooperation in Core Manufacturing and Future High-Tech Industries

Saudi Arabia, the largest economy in the Middle East and North Africa region, is accelerating cooperation with Korea in key manufacturing sectors such as shipbuilding and automobiles, while partnerships in future high-tech industries, including artificial intelligence (AI), are also expected to gain momentum. Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) held the Korea–Saudi Vice Ministerial Meeting on Industry with Abdullah bin Ali Al-Ahmari, Assistant Minister of Industry and Mineral Resources for Planning and Development of Saudi Arabia, at the Government Complex Seoul on Monday, October 27, to discuss ways to strengthen industrial cooperation between the two countries and Saudi Arabia’s support for Korean business projects underway in the Kingdom. The meeting was also significant as it reviewed progress on major industrial cooperation initiatives discussed at the 5th Korea–Saudi Vision 2030 Committee, held in Seoul on September 27. Vice Minister Moon highlighted that Korean companies operating in Saudi Arabia have been actively contributing to the realization of Vision 2030, the Saudi government’s national strategy for economic diversification in the post-oil era. He requested continued attention and support from the Saudi government to ensure smooth implementation of related projects. Both sides agreed to maintain close government-level communication to support the progress of major industrial cooperation projects in Saudi Arabia’s core manufacturing sectors—most notably, International Maritime Industries (IMI), being developed within the King Salman International Complex for Maritime Industries and Services as the largest shipyard in the Middle East, and Hyundai Motor Company’s first assembly plant in the Middle East, now under construction in King Abdullah Economic City. In addition, the two vice ministers agreed to advance practical cooperation through relevant research institutes on the joint development of eco-friendly shipbuilding technologies aimed at reducing carbon emissions, a new initiative proposed by Saudi Arabia and adopted at the 5th Korea–Saudi Vision 2030 Committee Meeting. They also agreed to continue discussions on establishing hydrogen vehicle infrastructure, including the installation of hydrogen refueling stations and hydrogen quality management systems in Saudi Arabia, which Korea proposed as a new cooperation project during the same meeting. Vice Minister Moon further noted that as both countries are investing heavily in the AI industry as a future growth engine, Korea and Saudi Arabia should accelerate cooperation in AI infrastructure, including advanced semiconductors and data centers, while also expanding collaboration in AI applications such as digital twins, cloud computing, and robotics. Assistant Minister Al-Ahmari welcomed these proposals and agreed to work toward their practical implementation.   date2025-10-27

2nd Korea–Germany Industrial Data Space Forum

Kang Kam-chan, Director General for Industrial Policy at the Ministry of Trade, Industry and Resources, attended the 2nd Korea–Germany Industrial Data Space Forum held on Thursday, October 23, 2025, at the Nine Tree Premier ROKAUS Hotel in Yongsan, Seoul. Co-hosted by MOTIR and Germany’s Federal Ministry for Economic Affairs and Climate Action, the forum brought together around 100 experts from industry, academia, and research, including representatives from the Korea Institute for Advancement of Technology, the Korea Industrial Complex Corporation, and AI solution companies. Director General Kang delivered opening remarks and discussed strategies to strengthen industrial data cooperation between Korea and Germany, sharing successful cases of collaboration. date2025-10-24

Korea and Germany Advance Industrial Data Cooperation to Accelerate Manufacturing AX

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that it co-hosted the 2nd Korea–Germany Industrial Data Space Forum on Thursday, October 23, at the Nine Tree Premier ROKAUS Hotel in Yongsan, Seoul, together with Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWE). The event brought together around 100 experts from industry, academia, and research, including representatives from the Korea Institute for Advancement of Technology (KIAT), the Korea Industrial Complex Corporation (KICOX), and AI solution companies. Overview of the 2nd Korea–Germany Industrial Data Space Forum Date/Venue: October 23, 2025 (Thu), 09:15 / Nine Tree Premier ROKAUS Hotel, Yongsan, Seoul Host/Organizer: MOTIR / KIAT Key Participants: [Korea] MOTIR (including the Korean Agency for Technology and Standards), KIAT, KICOX; [Germany] BMWE, Embassy of Germany in Korea, and organizations related to Manufacturing-X Main Agenda: Sharing of Korea–Germany industrial data utilization cases, policy cooperation discussions among MOTIR, KIAT, and KICOX, and consultations on the Korean Manufacturing-X initiative. Following the first forum held in October 2024, this year’s event was organized to discuss bilateral cooperation strategies and share best practices as the Korean government plans to include the “Industrial Data Space Standard Model Project” in the 2026 national budget. To drive manufacturing digital transformation (AX) by integrating AI across manufacturing processes and the entire upstream and downstream value chains, collecting and utilizing reliable industrial data is crucial. Reflecting this need, MOTIR signed an MOU with ten major industry associations at the 1st Industrial AI EXPO on September 3 to establish a voluntary data-sharing framework among companies. At the forum, participants discussed strategies for building industrial data spaces tailored to Korea’s industrial environment to enable manufacturing data sharing across key sectors. They also explored standardization and interoperability between Korean and German data spaces. Korean companies presented their technologies and pilot cases in industrial data space development, while the German side introduced the progress and best practices of Catena-X, the automotive industry’s leading data space initiative. Kang Kam-chan, Director General for Industrial Policy at MOTIR, stated, “If Korea can leverage Germany’s experience and expertise gained from successfully implementing Catena-X to build an industrial data ecosystem suited to our industries, it will greatly benefit Korean manufacturers. We will continue regular cooperation with Germany, a global leader in industrial data spaces, to jointly build a global industrial data ecosystem through strong public–private collaboration.”   date2025-10-23

Indo-Pacific Economic Framework Members to Review Supply Chain Cooperation

The Crisis Response Network (CRN) will conduct a joint tabletop exercise in Korea to enhance regional response capacity to supply chain disruptions in the Indo-Pacific region. The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that Korea, as chair of the Indo-Pacific Economic Framework for Prosperity (IPEF) CRN, will host the 4th IPEF CRN Regular Meeting and a crisis response tabletop exercise at the Lotte Hotel Seoul on Wednesday, October 22. The exercise marks the third joint drill since the CRN’s launch in 2024, which serves as the implementing body of the IPEF Supply Chain Agreement. It aims to establish a systematic framework for supply chain crisis response, focusing on assessing the effectiveness of member coordination and strengthening collective response capacity. The scenario involves a sudden shutdown in the refining and processing operations of a critical mineral–producing country, triggering shortages and price spikes across IPEF member economies. Participating countries will practice a series of real-time response procedures, including sharing supply chain updates, assessing crisis escalation levels, coordinating joint responses, convening a ministerial meeting, and adopting a joint statement outlining policy cooperation. This exercise features more detailed procedures than previous drills, including response measures by crisis level, bilateral consultations among countries with shared interests, and escalation to a ministerial-level meeting. In parallel with the exercise, Korea and Australia will share updates on the progress and future plans of their joint IPEF supply chain capacity-building program. The program, targeting seven member countries, aims to enhance regional supply chain resilience by providing tailored training on supply chain management, crisis response manuals, and policy development capabilities. As the central coordination mechanism for supply chain cooperation under the IPEF, the CRN serves as the control tower for rapid information-sharing, policy coordination, and collective action during disruptions. Korea, elected as the CRN’s inaugural chair in July 2024 following the signing of the IPEF Supply Chain Agreement in 2023, continues to play a leading role in strengthening supply chain crisis response. Lee Jaekeun, Director General for New Trade Strategy and Policy at MOTIR, stated, “Critical minerals are essential to achieving carbon neutrality and sustaining the competitiveness of advanced industries, making supply chain stability more crucial than ever. This exercise goes beyond a simple simulation, serving as practical training to replicate real-world policy decision-making and response procedures.” He added, “At a time of heightened concerns over critical mineral supply chains, this exercise reaffirms the Indo-Pacific countries’ strong commitment to active supply chain cooperation.” date2025-10-22

Korea and Montana Discuss Stronger Economic Cooperation

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that Trade Minister Yeo Han-koo met with Montana Governor Greg Gianforte and his economic delegation in Seoul on Monday, October 20, to discuss ways to strengthen economic cooperation between Korea and the United States. The delegation included the First Lady of Montana, the CEO of Navajo Transitional Energy Company (NTEC), the CEO of Montana Renewables, and the Director of the Office of Trade and International Relations at the Montana Department of Commerce, along with representatives from Montana-based companies and state government officials. Minister Yeo and Governor Gianforte noted that Korea and Montana have developed a close, mutually beneficial relationship through active trade in LNG, crude oil, and other energy sectors. They agreed to expand cooperation in energy, critical minerals, manufacturing, and industrial supply chains by leveraging Korea’s advanced manufacturing capabilities and Montana’s abundant natural resources to strengthen energy security and diversify supply chains. Minister Yeo also raised visa issuance challenges, emphasizing that creating a stable investment environment and ensuring smooth visa processing for Korean companies is critical to prevent a recurrence of issues like the one in Georgia. He requested Governor Gianforte’s attention and support in establishing a lasting solution to this matter. In addition, Minister Yeo shared that Korea and the United States are pursuing constructive and mutually beneficial approaches in ongoing tariff negotiations and called for active support and engagement from the Montana state government in this process.   date2025-10-21

Korea to Expand Cooperation with Guangdong, China’s Largest Regional Economy

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that Deputy Minister for Trade Park Jong-won will visit Guangdong Province, China, from October 20 to 21 to attend the 10th Korea–Guangdong Development Forum and hold bilateral talks with Zhang Guozhi, Deputy Governor of Guangdong Province, to strengthen economic and industrial cooperation with China’s largest provincial economy. Guangdong ranks first among China’s 31 provinces and municipalities in both gross regional domestic product (GRDP) and foreign trade volume. Last year, Korea–Guangdong trade totaled about USD 57.6 billion, exceeding Korea’s trade with its sixth-largest partner, Australia (USD 45.6 billion), and accounting for 18 percent of total Korea–China trade, the second-largest share after Jiangsu Province. About 1,600 Korean companies, including Hyundai Motor’s hydrogen fuel cell plant and LG Display’s OLED plant, currently operate in the province. The Korea–Guangdong Development Forum, now in its 10th year, is the first high-level cooperation platform between the Korean and Chinese local governments. This year’s forum will bring together officials from both governments, business associations, and companies to share investment policies and discuss cooperation in emerging industries such as hydrogen, AI, and biotech, as well as strategies for Korean companies to expand into China’s domestic market. In his congratulatory remarks, Deputy Minister Park will emphasize that amid global trade uncertainty and the diversification of Korea–China industrial relations, strengthening cooperation with Chinese provincial governments is vital to creating new business opportunities. He will propose deeper collaboration with Guangdong, China’s hub for advanced industries, in hydrogen, AI, and biotech, to promote mutual growth through expanded trade and investment. Deputy Minister Park will also meet with Deputy Governor Zhang Guozhi to discuss support for Korean companies operating in Guangdong, as well as ways to enhance supply chain stability and cooperation in new industries. He will express appreciation for Guangdong’s assistance in maintaining stable trade relations despite the recent strengthening of export controls and emphasize the importance of continuing such collaboration. MOTIR stated that it will continue to strengthen partnerships with major Chinese provincial governments to promote practical cooperation that supports Korean companies’ business activities in China.   date2025-10-20

MOTIR Explores Investment Cooperation with Japanese Advanced Materials, Parts, and Equipment Companies

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan), together with the Korea Trade-Investment Promotion Agency (KOTRA, President and CEO Kang Kyung-sung), hosted the Korea–Japan Investment Forum on Friday, October 17, at The Okura Tokyo. The forum aimed to attract investment from Japan’s advanced materials, parts, and equipment companies into Korea. This event marked MOTIR’s second major overseas investment promotion this year, following the Korea–France Investment Forum in September. The event brought together approximately 150 participants, including executives from leading Japanese high-tech companies such as Tokyo Electron (TEL), Mitsui Chemicals, and Tokyo Ohka Kogyo (TOK). Participants discussed Korea’s advanced industry trends, foreign investment environment, and opportunities for Korea–Japan technological collaboration, while also sharing success stories and exploring future investment partnerships. In particular, global semiconductor equipment maker TEL drew strong attention by presenting its successful investment experience in Korea. Since entering the Korean market in 2006, TEL has focused on semiconductor equipment supply and R&D, maintaining close collaboration with Korea’s major semiconductor anchor companies. In his opening remarks, MOTIR’s Director General for Investment Policy Yoo Beop-min emphasized, “By combining Japan’s technological strength in materials, parts, and equipment with Korea’s advanced manufacturing capabilities, the two countries can jointly achieve supply chain stability and innovation in high-tech industries.” He added, “The Korean government will further strengthen cash grants and other incentives for foreign investors contributing to supply chain resilience, technological advancement, and job creation, while working to remove regulatory barriers to make Korea one of the most business-friendly countries in the world.”   date2025-10-17

Korea and Sweden Discuss Strategic Cooperation Amid Global Trade Shifts

Vice Minister of Trade, Industry and Resources Moon Shin-hak attended the Korea–Sweden Sustainable Partnership Summit, held at the Grand Hyatt Seoul on Thursday, October 16, as part of economic events marking the visit of Swedish Crown Princess Victoria to Korea.   The annual summit, launched following reciprocal visits by the leaders of both countries in 2019, aims to strengthen bilateral economic cooperation. This year’s discussions focused on strategic collaboration to enhance sustainability and resilience in response to global trade challenges such as climate change, energy transition, and rising geopolitical tensions. The event brought together around 200 participants, including Crown Princess Victoria and Prince Daniel of Sweden, government officials, and major business leaders from both countries. Participants exchanged views on the role of leadership in building a resilient future and on linking AI with sustainability. In addition, three memoranda of understanding (MOUs) were signed between Korean and Swedish companies and research institutes in the Fields of HVCD, power semiconductor, and offshore wind, creating a foundation for mutually beneficial private-sector cooperation. In his congratulatory remarks, Vice Minister Moon emphasized the need for Korea and Sweden to strengthen their strategic partnership grounded in pragmatism amid growing global trade uncertainty. He stated, “Through this summit, the two countries should develop a practical roadmap that encompasses both sustainability and security to generate new growth momentum, and the Korean government will fully support future-oriented cooperation with Sweden.”   date2025-10-16