Ministry of Trade Industry and Resources

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

Türkmenabat mineral fertilizer plant PJT framework agreement ceremony

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn and Deputy Chairman of the Cabinet of Ministers of Turkmenistan for Construction and Industrial Complex Baymyrat Annamammedov attended a signing ceremony for the Framework Agreement on a $700 million mineral fertilizer plant project to be commissioned by “Turkmenhimiya” State Concern, in which Korea’s Daewoo E&C will participate as a contractor. date2025-04-21

Korea and Turkmenistan Step Up Plant Cooperation

Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy (MOTIE) met with Baymyrat Annamammedov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan for Construction and Industrial Complex, in Seoul on April 18, 2025, for high-level Korea–Turkmenistan talks on plant cooperation. Prior to the talks, the two sides held a signing ceremony for a framework agreement on the Türkmenabat mineral fertilizer plant project, worth about USD 700 million. This project was commissioned by the “Turkmenhimiya” State Concern, with Korea’s Daewoo E&C participating as a contractor. Once completed, the plant will process phosphate rocks from the Türkmenabat region into phosphorus to produce fertilizers, which is expected to help improve Turkmenistan’s industrial and agricultural productivity and diversify its export portfolio. During the high-level talks, Minister Ahn proposed an early conclusion of the final agreement for the Türkmenabat mineral fertilizer plant project and requested the Turkmen government’s support for Korean companies seeking to participate in additional plant projects going forward. date2025-04-18