Ministry of Trade Industry and Resources

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

Meeting with Senior Assistant Deputy Minister of ISED Canada

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources, met with Alexandra Dostal, Senior Assistant Deputy Minister for the Strategy and Innovation Policy Sector at Innovation, Science and Economic Development Canada (ISED), on Monday, December 1, at the reception room of the Ministry of Foreign Affairs in Seoul. The two officials discussed key economic and trade issues between Korea and Canada.   Deputy Minister Park expressed strong regret over Canada’s announcement to tighten TRQ measures and urged their swift withdrawal, noting potential legal concerns and implications for Korean companies’ investments. He also emphasized the two countries’ substantial cooperation potential in sectors such as defense, AI, automobiles, batteries, critical minerals, and energy, and highlighted Korea’s commitment to advancing a reliable and mutually beneficial industrial supply chain with Canada. date2025-12-02

Korea–Serbia Hold First Official CEPA Negotiations

Amid rising global protectionism, the stability of supply chains and access to emerging markets have become increasingly important for Korean companies. Against this backdrop, the first official round of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between Korea and Serbia—an EU candidate country and a growing manufacturing and logistics hub in the Balkan region—will be held in Seoul from Monday, December 1, to Thursday, December 4. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that more than 60 delegates from both countries will participate in the negotiations. Korea will be represented by Son Ho-young, Acting Director-General for FTA Negotiations, and Serbia by Olivera Jocic, Acting Assistant Minister at the Ministry of Internal and Foreign Trade, who will serve as chief negotiators. During this first round, the two sides will discuss ten areas, including tariff concessions, rules of origin, customs procedures, and economic cooperation. Following the September 2024 declaration launching the negotiations, the two governments conducted prior consultations to align the structure of the agreement and the main scope of the discussions. As a result, this round is expected to deliver substantive progress, including setting the scope and level of market opening. Acting Director-General Son stated, “Serbia is a strategic gateway linking markets adjacent to the EU with the Balkan region. With more Korean companies entering Serbia in areas such as electric vehicles, batteries, and renewable energy, a CEPA with Serbia will play an important role in improving market access and mitigating supply chain risks for Korean businesses.” He added, “The government will work to ensure swift and substantive progress in the negotiations.” date2025-12-01