Ministry of Trade Industry and Resources

Korea and Japan Strengthen Investment and Supply Chain Cooperation Amid Rising Trade Uncertainties

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), held a roundtable with the Seoul Japan Club (SJC) and representatives of Japanese-invested companies at the Korea Press Center’s SJC conference room on Thursday, December 11. Japan has emerged as one of Korea’s largest foreign investors despite global trade uncertainties, with reported FDI reaching a record USD 6.1 billion last year—ranking first among all investing countries. Against this backdrop, the roundtable served to strengthen dialogue with Japanese companies operating in Korea, providing an opportunity to closely assess their perspectives and challenges and to explore ways to support stable investment activities. Participants included SJC Chairman Matsuura Tetsuya, President of Mitsubishi Corporation Korea; representatives of major Japanese investors; and officials from the Japan External Trade Organization (JETRO) and the Japan Chamber of Commerce and Industry in Korea. The Japanese side shared expectations regarding the new government’s economic policies, called for progress on SJC’s annual recommendations for Japanese companies investing in Korea, raised concerns related to the amended Labor Union Act, and requested streamlined entry procedures for foreign businesspersons. Minister Yeo underscored the importance of Korea–Japan cooperation, noting that “the two countries face similar pressures—from U.S. tariff actions and investment dynamics to China’s export controls and EU environmental rules.” He added that “to ensure that Japan’s investment in Korea leads to strengthened bilateral supply chains, Korea and Japan should build a future-oriented economic partnership by expanding cooperation in advanced industries, including AI, semiconductors, biotechnology, and new energy.” He also stated that “MOTIR will continue to support Japanese investors by actively reviewing the SJC’s recommendations to be submitted early next year with the relevant ministries.” To further attract Japanese investment, MOTIR will thoroughly review the proposals raised at the roundtable with the relevant ministries and will continue to create opportunities for communication with major foreign-invested companies. date2025-12-11

Korea Opens “Rare Metals Cooperation Center” to Advance Critical Minerals Partnership with Mongolia

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that it will officially open the Korea–Mongolia Rare Metals Cooperation Center on Friday, December 12, at the Mongolian University of Science and Technology in Ulaanbaatar. Implemented as a grant-based ODA program, the center will receive approximately KRW 9.8 billion in support for its establishment and operation from 2023 to 2027. About 150 participants are expected to attend the opening ceremony, including representatives from Mongolia’s Ministry of Mining and Heavy Industry (MMHI), the Mineral Resources and Petroleum Authority, and the Geological Center for Research and Analysis (GCRA), as well as officials from MOTIR, the Korea Institute for Advancement of Technology (KIAT), and the Korea Institute of Geoscience and Mineral Resources (KIGAM). Since 2023, MOTIR has been promoting the establishment and operation of Rare Metals Cooperation Centers through ODA programs to strengthen cooperation in critical mineral supply chains. The Mongolia center is the first to open among the five centers currently under development with countries such as Uzbekistan, Vietnam, Kazakhstan, and Indonesia. Jointly operated by KIGAM and Mongolia’s GCRA, the center will analyze tungsten, molybdenum, lithium, and other rare metals found in Mongolia, while providing technical training in mineral processing, refining, and smelting. These activities aim to support Mongolia in enhancing the value of its rare metal resources and linking them to viable production. MOTIR stated that the launch of the center marks a significant step forward in bilateral cooperation on critical minerals and affirmed its commitment to continue supporting the center’s operations, thereby contributing to the development of Mongolia’s rare metals industry and strengthening Korea’s medium- to long-term supply chain stability. date2025-12-11

Meeting with the New Ambassador of India to Korea

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR) met with Gourangalal Das, the newly appointed Ambassador of India to Korea, on Wednesday, December 10, at the Korea Chamber of Commerce and Industry in Seoul to discuss ways to expand economic and trade cooperation between the two countries.   During the meeting, Trade Minister Yeo underscored India’s importance as a key country in the New Southern region and highlighted Korea’s expectation that both sides will deepen their partnership by achieving new economic outcomes in areas with strong cooperation potential, including shipbuilding, critical minerals, and greenhouse gas reduction. date2025-12-10

Korea to Strengthen Economic and Trade Cooperation with India, a Key Country in the New Southern Region

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Gourangalal Das, the newly appointed Ambassador of India to the Republic of Korea, on Wednesday, December 10, at the Korea Chamber of Commerce and Industry. The two sides held wide-ranging discussions on ways to expand economic and trade cooperation between Korea and India. Trade Minister Yeo underscored India’s importance as a key country in the New Southern region and one of Korea’s most important economic cooperation partners. He expressed his hope that the two countries will further deepen their partnership by generating new economic outcomes in areas with strong cooperation potential, such as shipbuilding, critical minerals, and greenhouse gas reduction. Ambassador Das reaffirmed his commitment to advancing bilateral economic and trade cooperation during his tenure. The two sides shared the view that improving the Korea–India Comprehensive Economic Partnership Agreement (CEPA) is necessary to establish a mutually beneficial trade framework and expand bilateral economic and trade cooperation. They agreed to maintain close communication and resume negotiations to upgrade the agreement as soon as possible. Trade Minister Yeo also noted that more than 670 Korean companies are currently operating in India but continue to face challenges arising from non-tariff barriers, including BIS certification and trade remedy measures. He requested India’s support to help ensure that these companies can continue contributing to bilateral economic cooperation. MOTIR will continue to work closely with the Embassy of Korea, KOTRA trade offices, Korea Plus in India, and other local support institutions to foster a stable business environment for Korean companies operating in India. date2025-12-10

Ministry Steps Up Preparations for the Korea–U.S. FTA Joint Committee, Reviews Plans to Advance Korea–UK FTA Upgrade Negotiations

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) convened the 52nd Trade Promotion Committee on Wednesday, December 10, at the Korea Chamber of Commerce and Industry in Seoul. Chaired by Trade Minister Yeo Han-koo, the meeting brought together relevant ministries to share plans for upcoming Korea–U.S. FTA Joint Committee, assess progress on the Korea–UK FTA upgrade negotiations, and examine key trade issues involving the EU, Mexico, and Canada, as well as recent developments related to the U.S. IEEPA lawsuit. The government aims to convene the Korea–U.S. FTA Joint Committee within the year based on the Korea–U.S. Joint Fact Sheet (JFS), which includes its commitments on the automobiles, agriculture, and digital trade. MOTIR will work closely with relevant ministries to ensure thorough preparations and develop concrete implementation measures. Regarding the Korea–UK FTA upgrade negotiations, the government reaffirmed the commitment made at the G7 Summit in June to seek a conclusion within the year. Ministries will strengthen coordination to resolve remaining issues in the services, investment, and digital sectors. Participants also exchanged updates on major trade developments—including steel import restrictions by the EU and Canada, Mexico’s tariff announcements, and developments in the U.S. IEEPA lawsuit—and reviewed Korea’s response strategies. Trade Minister Yeo emphasized that, “Although the Korea–U.S. tariff negotiations have been concluded, stable management of non-tariff issues remains critically important,” and called for “active inter-ministerial cooperation as the government prepares for the Joint Committee.” He also underscored the government’s commitment to “remain vigilant and pursue proactive response measures as major economies beyond the U.S. expand protectionist measures and global trade conditions remain volatile. date2025-12-10

Korea and the EU to Establish “Next Generation Strategic Dialogue” Covering Economic Security and Supply Chains

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) visited Brussels, Belgium, from December 1 to December 3 and met with senior European Union officials, including Maroš Šefčovič, Commissioner for Trade and Economic Security, and Borys Budka, Chair of the European Parliament’s Committee on Industry, Research and Energy (ITRE). Their discussions covered a wide range of key trade issues and future cooperation measures, including the establishment of a future-oriented Korea–EU cooperation framework, the EU’s planned steel tariff rate quota (TRQ) system, the EU Battery Regulation, the Carbon Border Adjustment Mechanism (CBAM), the Foreign Subsidies Regulation (FSR) investigation related to the Czech nuclear project, and the Korea–EU Digital Trade Agreement (DTA).  The visit took place to reinforce the mutually beneficial and strategic partnership between Korea and the EU amid rapid changes in the global trade landscape—including rising protectionism and supply chain restructuring—as well as to resolve trade barriers facing Korean companies entering the EU market. The two sides noted their long-standing partnership grounded in shared values of free trade and a market economy and agreed to maintain close communication to respond proactively to global overcapacity, the spread of protectionism, and the transition toward carbon neutrality. They also committed to deepening cooperation in supply chains, digital trade, and economic security. Key Outcomes and Discussions  Both sides agreed that the current Korea–EU FTA is insufficient for addressing emerging issues such as digital trade, supply chains, and economic security. Korea proposed upgrading cooperation by managing potential trade and investment risks for Korean firms in the EU and deepening high-level engagement on emerging trade issues. The two sides agreed to launch a Next Generation Strategic Dialogue on Trade, Supply Chains & Technology in the first half of next year. Korea requested favorable treatment under the EU’s planned steel import-control mechanism, including stable quota allocation or possible TRQ exemption. The EU responded that Korea is being considered among the First Group of negotiation partners and that it would explore measures to mitigate potential impacts on Korean companies. Korea also urged the EU to support battery-sector investors and reduce regulatory uncertainty by swiftly finalizing the implementing rules under the Battery Regulation, ensuring coherence with related EU policies, and recognizing batteries as part of the Energy Intensive Industry Sector. Chair Borys Budka emphasized that Korea and Europe have effectively become a community of shared destiny in the battery supply chain and proposed expanding practical cooperation, including potential joint-production models. Korea welcomed recent improvements in CBAM rules but urged the EU to finalize emissions-calculation methodologies and verifier standards to reduce uncertainty. Korea also cautioned that expanding CBAM coverage to downstream products could burden SMEs and stressed that any such expansion should follow sufficient impact assessments. Korea emphasized the need to avoid double regulation for countries with emissions-trading schemes such as K-ETS. Korea expressed serious concern over the FSR investigation related to Korea Hydro & Nuclear Power’s bid for the Czech nuclear project, stating that the bid was selected through fair competition and involved no market-distorting subsidies. Korea requested a careful and impartial review. Both sides agreed to complete domestic procedures promptly so that the Korea–EU DTA can be signed at the next high-level meeting. date2025-12-05

Korea–U.S. to Strengthen Supply Chain Cooperation Through Standardization

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the 5th Korea–U.S. Standards Forum on Thursday, December 4, at The Shilla Seoul. The event brought together more than 60 experts from the two countries’ public and private sectors, including the President of the American National Standards Institute (ANSI), representatives from the U.S. National Institute of Standards and Technology (NIST), and Microsoft. At the forum, Korea and the U.S. presented recent standardization trends in advanced industries, including AI, future mobility, semiconductors, and quantum technology. Experts then gathered in subcommittee meetings to discuss ways to strengthen bilateral cooperation and lead international standardization efforts. Prior to the forum, KATS and ANSI held their regular bilateral meeting on Wednesday, December 3, to share their five-year national standardization strategies and discuss practical cooperation measures—including enhanced collaboration within international bodies such as ISO and IEC. The forum provided an opportunity to discuss technology standards cooperation that supports the expansion of Korea–U.S. industrial collaboration, following the recent signing of the Strategic Trade and Investment Deal. Both sides affirmed that standards ensuring the interoperability and reliability of advanced technologies are essential to competitiveness and agreed to reinforce joint efforts in global standardization. President Kim Dae-ja of KATS stated, “Strengthening Korea–U.S. standards cooperation in AI, future mobility, and other advanced technologies will generate meaningful synergies in industrial and supply chain cooperation.” He added, “The government will continue expanding standards cooperation with major countries to bolster the global competitiveness of Korean industries.” date2025-12-04

Korea and France Discuss Trade Issues and Industrial Cooperation in Critical Minerals and EVs

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the 20th Korea–France Industrial Cooperation Committee meeting on Wednesday, December 3, in Sejong, chaired by Park Jung-sung, Deputy Minister for Trade. Deputy Minister Park met with Thomas Courbe, Director General for Enterprises (DGE) at the French Ministry of Economy and Finance, to discuss bilateral cooperation in industry and supply chains and to exchange views on key trade issues related to France and the EU. France is Korea’s third-largest trading partner within the EU, with bilateral trade reaching USD 13.7 billion in 2024. Both exports and imports have increased over the past five years, further deepening economic interdependence. Since the 1990s, the two countries have maintained longstanding government-level cooperation channels—such as the Industrial Cooperation Committee and the Korea–France Forum on Innovative Industries—while private-sector collaboration has also expanded in advanced industries, including automobiles and batteries. The two sides reviewed policies and recent developments related to bilateral cooperation, critical minerals, electric vehicles, and batteries, and discussed ways to deepen cooperation. They underscored the importance of close policy dialogue to strengthen competitiveness in advanced industries. The Korean side also conveyed concerns that the EU Foreign Subsidies Regulation (FSR), the EU’s proposed new steel import measures, and France’s electric vehicle subsidy scheme may act as trade barriers between Korea and the EU by protecting domestic industries. Korea highlighted the need to pursue Korea–EU negotiations on steel TRQs in a cooperative spirit and to establish a more reasonable methodology for calculating carbon-emission factors under France’s EV subsidy program. MOTIR stated that the meeting provided an opportunity to reinforce Korea–France cooperation and discuss key trade issues in depth. The Ministry added that it will continue engaging with France and the EU through high-level and working-level channels to follow up on the issues discussed. date2025-12-03

5th Central Asia Policy Forum

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR), attended the 5th Central Asia Policy Forum held on Tuesday, December 2, at Lotte Hotel World in Seoul.   The event was attended by more than 50 participants from the government, related organizations and associations, companies operating in Central Asia, and academia. Deputy Minister Park also presented ministerial commendations to three individuals who contributed to advancing Korea–Central Asia trade cooperation.   In his opening remarks, Deputy Minister Park emphasized that Central Asia is an essential partner for strengthening Korea’s competitiveness in advanced industries and securing strategic resources. He noted that the Government will build country-specific cooperation models by deepening supply chain partnerships for critical minerals, expanding cooperation in energy and plant projects, and improving the investment environment, adding that the forum marks an important milestone in preparations for next year’s inaugural Korea–Central Asia Summit. date2025-12-03

MOTIR Explores Ways to Expand Korea–Central Asia Economic Cooperation

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the 5th Central Asia Policy Forum at Lotte Hotel World in Seoul on Tuesday, December 2, attended by more than 50 representatives from the government, relevant organizations and associations, companies operating in Central Asia, and academia. This Forum was organized to discuss ways to translate cooperation prospects into tangible outcomes in light of Central Asia’s potential in supply chains grounded in key resources such as energy and minerals, its strategic value as a logistics hub in the Eurasian region, and complementary industrial structures of Korea and Central Asia.  In his opening remarks, Park Jung-sung, Deputy Minister for Trade at MOTIR, noted that “Central Asia is an essential partner in strengthening Korea’s competitiveness in advanced industries and securing strategic resources.” He added that “the government will develop cooperation models tailored to each country’s needs, with a focus on deepening supply chain partnerships for critical minerals, expanding cooperation in energy and plant projects, and improving the investment environment.” He also emphasized that “today’s forum serves as an important milestone in preparing for next year’s inaugural Korea–Central Asia Summit while helping elevate bilateral cooperation to a new stage.” On this occasion, MOTIR presented ministerial commendations to three individuals who contributed to advancing Korea–Central Asia trade cooperation: Lee Dong-eun, Principal Researcher at the Korea Institute for Advancement of Technology (KIAT); Kim Bum-sung, Principal Researcher at the Korea Institute of Industrial Technology (KITECH); and Rukhullo Zikrillaev, Counsellor at the Embassy of the Republic of Uzbekistan in the Republic of Korea. date2025-12-02