Ministry of Trade Industry and Resources

Korea and Japan’s Business Leaders Expand Economic Cooperation

Korea’s Minister for Trade Cheong In-kyo of the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) attended the 57th Korea-Japan Business Conference in Seoul on May 27, 2025, jointly hosted by MOTIE, Korea-Japan Economic Association, Japan-Korea Economic Association, and the Japan-Korea Industrial Technology Co-Operation Foundation to mark the 60th anniversary of the two countries’ normalization of diplomatic relations.  Launched in January 1969 following the normalization of diplomatic relations in 1965, the Korea-Japan Business Conference has served as a major bilateral forum for advancing the two countries’ economic cooperation. In his congratulatory remarks, Trade Minister Cheong expressed gratitude to the business leaders of both countries for their commitment to economic cooperation over the past 60 years and proposed that the two governments and business communities work together to lay the groundwork for a new chapter of cooperation for the next 60 years.  Noting the increase in global trade uncertainties, Trade Minister Cheong stated that the two governments will maintain trade collaboration through close communication, while also providing strong support to expand the scope of bilateral economic cooperation in supply chain stabilization, decarbonization, and new energy, as well as joint entry into the Global South and other third-country markets. He also encouraged the business leaders to actively leverage international events hosted by Korea and Japan, including APEC 2025 and the Osaka-Kansai World Expo. Under this year’s theme of “broader and deeper Korea-Japan cooperation,” the two countries’ economic groups discussed joint measures to establish and build trust, enhancing economic partnerships in carbon neutrality, AI, semiconductors, bio, and supply chains, utilizing the FTA network, and boosting people-to-people exchanges. They also agreed to further cooperation in these areas going forward. date2025-05-27

Korea Leads IPEF Crisis Exercise to Strengthen Indo-Pacific Supply Chain Coordination

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) announced that as the Chair of the Indo-Pacific Economic Framework for Prosperity (IPEF) Crisis Response Network (CRN), Korea will host a virtual supply chain emergency tabletop exercise on May 22, 2025, to strengthen cooperation among IPEF partners in rapid responses to supply chain disruptions and enhance their crisis response capacity. The tabletop exercise will simulate a scenario in which member “Country A,” facing a shortage of therapeutic agents amid an outbreak of an unidentified acute respiratory infection, requests CRN Chair Korea to convene an emergency meeting to assist procurement. Through simulation, IPEF partners will assess the outbreak’s impact on the intraregional supply chain and explore support measures among member countries. As the second such exercise since last year, today’s simulation is designed not only to closely reflect a real emergency by incorporating input from the pharmaceutical supply chain experts and partner countries, but also to involve the ministries overseeing pharmaceuticals to maximize the effectiveness of the exercise. On the sidelines of the virtual tabletop exercise, Korea and Australia will introduce to IPEF partners the details of their joint supply chain capacity-building project. The two countries plan to provide country-tailored training on supply chain management and crisis response policymaking to reinforce IPEF partners’ capacity to respond to supply chain disruptions. They will also share best practices and discuss ways to improve CRN operations. MOTIE plans to launch an in-person CRN tabletop exercise in the second half of 2025 and to continue advancing the Korea-Australia IPEF supply chain capacity building project. date2025-05-22

Trade Minister meets Mexico's Undersecretary of Foreign Trade

Minister for Trade Inkyo Cheong met with Mexico's Undersecretary of Foreign Trade Luis Rosendo Gutiérrez Romano on May 14 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed bilateral economic cooperation. date2025-05-15

Korea and Philippines sign MOU for trade, energy, and economic cooperation

Minister for Trade Inkyo Cheong held an MOU signing ceremony with Philippine Trade and Industry Secretary Maria Cristina Aldeguer-Roque on May 14 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting for bilateral cooperation in trade, economy, and energy. date2025-05-15

Korea and ASEAN Think Tanks Launch Policy Platform for Trade and Economic Cooperation

Trade Minister Cheong In-kyo of the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) attended the first ASEAN-ROK Think-Tank Dialogue on Economic and Trade Policy (AKTD) on Jeju Island on May 14, 2025. The event brought together approximately 100 participants, including representatives from Korean and ASEAN major think tanks, the ASEAN Secretariat, Economic Research Institute for ASEAN and East Asia (ERIA), the Asia Foundation, Yonsei University, and the Korea-Southeast Asia Policy Cooperation Center. AKTD is the first economic and trade cooperation project launched since  ROK-ASEAN diplomatic relations were elevated to a comprehensive strategic partnership at the 25th ROK-ASEAN Summit held in Vientiane, Lao PDR, in October 2024. It is also a ROK-ASEAN policy research platform to identify sustainable economic cooperation projects and support policy capacity building in ASEAN member states. The inaugural conference is significant in that Korea and 10 ASEAN think tanks gathered to establish a systematic policy dialogue channel for future economic and trade policy cooperation. In his welcoming remarks, Trade Minister Cheong noted that ASEAN is Korea’s third-largest trading partner and second-largest foreign direct investment (FDI) destination, highlighting that the two sides have continued to strengthen mutually beneficial cooperation in trade and economic areas. In view of ROK-ASEAN relations having advanced to a comprehensive strategic partnership, he expressed hope that AKTD would develop into a flagship ROK-ASEAN policy cooperation by helping identify and launch joint projects. During the forum session, Korea Institute for Industrial Economics & Trade (KIET) President Kwon Nam-hoon delivered a keynote speech on the role of think tanks for national development. Speakers from ERIA, the Institute of Malaysian and International Studies (IKMAS), and the Korea Institute for International Economic Policy (KIEP) then presented on ASEAN’s trade and economic development strategies. A panel discussion followed, chaired by the Asia Foundation’s Korean representative Song Kyung-jin. IKMAS Director Sufian Jusoh welcomed the launch of AKTD and pledged IKMAS’ active participation and support in its joint research projects and other events this year. In the subsequent roundtable session, participants discussed the basic direction for AKTD’s future operations and formally adopted the “Operational Guidelines for the AKTD,” signed by KIET and nine ASEAN think tanks. The guidelines will serve as a critical foundation for establishing AKTD as a sustainable cooperative platform that can support ASEAN’s economic development policies. MOTIE will report AKTD’s joint research outcomes at the 22nd ASEAN Economic Ministers (AEM)-ROK Consultation slated for September 2025 in Malaysia, while also preparing a follow-up conference in coordination with the ASEAN chair and the ASEAN Secretariat. date2025-05-14

Korea-Uzbekistan Insight Forum Co-Hosted by MOTIE & Uzbekistan Embassy to Korea

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) and the Embassy of the Republic of Uzbekistan in Korea (Ambassador Alisher Abdusalomov) co-hosted the Korea-Uzbekistan Insight Forum at the Embassy of Uzbekistan in Korea on Tuesday, May 13, 2025. The forum brought together officials from both governments and representatives of relevant institutions to review ongoing cooperation projects and discuss ways to enhance bilateral economic collaboration. Participants reaffirmed the importance of the Korea–Uzbekistan Special Strategic Partnership and emphasized the need for practical cooperation in supply chains, energy, infrastructure, advanced technologies, trade, and investment. Kim Jong-chul, Director General of MOTIE’s Bureau of International Trade Relations, stated that the two countries should continue to build a future-oriented cooperation framework that supports a stronger economic partnership and delivers tangible outcomes amid a rapidly changing global trade environment. Ambassador Abdusalomov echoed the view and suggested developing a joint long-term strategic program for high-tech and innovative partnership. This program would encompass key sectors such as critical mineral resources, semiconductors, the chemical industry, automotive production, smart agriculture, infrastructure and urban development, and green energy. He also emphasized the need to continue implementing joint ODA projects that strengthen Uzbekistan’s industrial capacities. These initiatives are expected to create opportunities for Korean companies to strengthen and expand their participation in regional and global supply chains.  The Korean and Uzbek governments said they will actively utilize bilateral cooperation platforms, including the Korea-Uzbekistan Joint Committee on Trade and Economy, to enhance policy communication and collaboration across a wide range of sectors. date2025-05-13

Minister Ahn meets Czech Prime Minister Petr Fiala

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn met Czech Prime Minister Petr Fiala on May 7 in Prague with both countries’ government delegations and discussed cooperation in industry, energy, construction, infrastructure, and science technology. date2025-05-09

Korea and Saudi Arabia Expand Cooperation in Advanced Industries

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) is hosting the Korea-Saudi Business and Investment Forum on May 9, 2025, in Seoul. The forum is anticipated to promote economic cooperation between the two countries across advanced sectors such as the digital industry, advanced manufacturing, clean energy, healthcare, and culture. The forum is part of efforts to strengthen bilateral partnership under Saudi Arabia’s Vision 2030 national strategy, and brings together 250 business leaders of both countries to explore avenues for collaboration and discuss tangible opportunities across promising new industries such as IT, advanced manufacturing, clean energy, special zone development, healthcare, and entertainment. The forum brought together 120 Korean and Saudi companies, including Saudi Telecom Company (stc), Saudi Arabian Military Industries (SAMI), and Saudi’s first EV manufacturer Ceer. From Korea, about 100 companies already working with Saudi partners or seeking new business opportunities also took part. Deputy Minister for Trade Park Jong-won attended the forum, stating in his congratulatory remarks that the Korean government will actively leverage intergovernmental cooperation channels and work toward the early entry into force of the Korea-GCC FTA to expand the scope of business cooperation between the two countries. date2025-05-09

Korea and Czech Republic Deepen Comprehensive Economic Cooperation

Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy (MOTIE) held separate talks with Czech Prime Minister Petr Fiala and Senate President Miloš Vystrčil on May 7, 2025, during a visit to the Czech Republic by a special Korean delegation of government officials and National Assembly representatives. The two sides discussed measures to deepen comprehensive economic cooperation and signed a total of 14 memorandums of understanding (MOUs) in nuclear energy and high-tech industries. Minister Ahn and the government delegation first met with Prime Minister Fiala and discussed cooperation in industry, energy, construction, infrastructure, and science and technology. In Prime Minister Fiala’s presence, Minister Ahn and Czech Minister of Industry and Trade Lukáš Vlček signed a Korea-Czech arrangement on nuclear reactor cooperation, building on an MOU signed in September 2024. The two countries’ governments agreed to work together for the success of the Dukovany power plant project, the possible addition of two more reactor units, and joint entry into third country markets. The two ministers also signed an MOU on battery cooperation to strengthen their joint response to the EU Battery Regulation. Minister Ahn and Minister Vlček also discussed cooperation in nuclear energy and high-tech industries, including batteries and automobiles. In their presence, Korea Hydro & Nuclear Power (KHNP) and other Team Korea members signed 10 MOUs with Czech companies for cooperation on the Czech nuclear reactor project. The two countries also agreed to deepen strategic cooperation in high-tech industries beyond unclear energy. In line with the Vltava Advanced Industries Cooperation Vision announced on September 20, 2024, they signed a letter of agreement to establish an automotive cooperation center and a robotics cooperation center. The agreement is expected to enhance collaboration in R&D, talent training, and demonstration projects. Korea’s National Assembly members and government officials also met Senate President Miloš Vystrčil and discussed extensive bilateral cooperation in –nuclear reactors, high-tech industries, energy, and construction. As 2025 marks the 35th anniversary of diplomatic ties and the 10th anniversary of the Korea–Czech strategic partnership, Minister Ahn noted that the two countries have further solidified their mutual trust. He stated that Korea will make efforts to closely communicate with the Czech side to finalize the new reactor contract as soon as possible. date2025-05-08

Korea-Turkmenistan high-level talks on plant cooperation

Minister of Trade, Industry and Energy of the Republic of Korea Dukgeun Ahn and Deputy Chairman of the Cabinet of Ministers of Turkmenistan for Construction and Industrial Complex Baymyrat Annamammedov held Korea-Turkmenistan high-level talks in Seoul on April 18 and discussed bilateral plant cooperation. date2025-04-21