Ministry of Trade Industry and Resources

Korea and Canada Discuss Economic and Trade Issues, Including Canada’s Steel TRQ Measures

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Alexandra Dostal, Senior Assistant Deputy Minister for the Strategy and Innovation Policy Sector at Innovation, Science and Economic Development Canada (ISED), in Seoul on Monday, December 1. The two officials discussed key economic and trade issues between Korea and Canada. Deputy Minister Park expressed strong regret over Canada’s announcement on Wednesday, November 26, to tighten its steel tariff rate quota (TRQ) regime. Under this measure, Canada will reduce the steel import quota allocated to its FTA partners, including Korea, from 100 percent to 75 percent of their 2024 import volumes and impose a 25 percent tariff on steel derivative products. He urged Canada to withdraw the measures swiftly. Deputy Minister Park stressed that “these measures are highly likely to violate trade laws and run counter to the spirit of the Ottawa Group, which Canada leads as a champion of the rules-based multilateral trading system.” He further noted concerns that the measures could have serious implications for Korean companies’ ongoing or planned investments in Canada. He asked that Canada take particular care to avoid undermining opportunities for potential economic and strategic cooperation between the two countries. Deputy Minister Park also noted that Korea and Canada have substantial cooperation potential across a wide range of sectors—including defense, AI, automobiles, batteries, critical minerals, and energy—and that Korean businesses have been shortlisted for Canada’s submarine procurement project. He expressed hope that the two countries will continue to advance a reliable and mutually beneficial industrial supply chain, given their long-standing roles as leading defenders of the rules-based trading system. date2025-12-01

Korea Diversifies Markets Through Latin America Amid Shifting Global Trade Environment

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the 29th Korea–Latin America Business Forum on Friday, November 28, at COEX in Seoul, together with the Korean Council on Latin America and the Caribbean and other private sector organizations. The forum brought together diplomatic representatives from 18 Latin American countries in Korea, Korean companies operating in the region, and officials from trade and investment support institutions. Established in 1997, the forum is held annually. This year’s session examined the Latin American business environment in light of global trade shifts following the launch of the Trump administration in the U.S. and explored strategies for Korean companies to expand into high-potential sectors such as digital technologies and infrastructure. Latin America is a major global market with a population of about 690 million and a GDP of roughly USD 7 trillion. The region is also a key source of critical minerals, including lithium and copper, giving it significant potential as a partner for Korea in market diversification and supply chain stability. Since signing its first FTA with Chile in 2004, Korea has expanded its FTA network in the region to eight countries. Over the past two decades, bilateral trade has more than quadrupled, and Korean investment has increased more than twenty-fourfold. In his welcoming remarks, Park Jung-sung, Deputy Minister for Trade at MOTIR, underscored the need for Korea and Latin America to broaden their trade networks and strengthen cooperation on critical minerals and other supply chain issues to ensure sustainable growth amid growing global uncertainty. MOTIR will continue to expand cooperation with Latin American partners through existing resource cooperation platforms and bilateral and multilateral high-level engagements, while actively supporting Korean companies seeking to enter regional markets. date2025-11-28

Korea–EU to Deepen Cooperation on Semiconductors, AI, Future Mobility, Batteries, and Economic Security

JK (Jung-Kwan) Kim, Minister of Trade, Industry and Resources (MOTIR), met with Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy at the European Commission, on Thursday, November 27, in Seoul to discuss ways to deepen strategic cooperation in advanced industries and technologies, including semiconductors, artificial intelligence (AI), future mobility, batteries, and supply chains. The meeting took place during Executive Vice-President Virkkunen’s visit to Korea. As the official responsible for the EU’s key priorities—including technology sovereignty, security, and digital transformation—she and Minister Kim underscored the need for joint responses and cooperation in the face of rising protectionism, supply chain disruptions, and other rapidly changing global economic conditions. The two sides recognized the long-standing strategic partnership between Korea and the EU in the economic and technological fields and agreed to elevate cooperation into a future-oriented partnership encompassing economic security and advanced industries. They highlighted that Korea and the EU hold complementary industrial structures in semiconductors—Korea in memory manufacturing and the EU in automotive semiconductors and advanced equipment—and agreed to work closely to ensure supply chain stability amid heightened global uncertainties. The parties also discussed concrete cooperation measures in future-growth industries such as AI, future mobility, and batteries. On AI, Korea shared its plan to develop a Korean version of the Manufacturing-X platform, benchmarking the EU’s industrial data platform of the same name, and proposed cooperation to enhance interoperability in data connectivity and utilization. Korea also emphasized the importance of international standardization for accelerating AI adoption across industries and invited the EU to participate actively in the International AI Standards Summit to be held in Seoul this December. In future mobility, both sides agreed to broaden cooperation in EV transition, charging-infrastructure expansion, and autonomous driving communication and data systems, supporting carbon neutrality goals and climate crisis response. Regarding batteries, Korea explained that domestic companies are strengthening the EU’s advanced battery production capacity and supply chains through investments in the region. Korea requested EU-level interest and support to help expand demand for EU-produced batteries. Korea also conveyed industry concerns about delays in follow-up legislation under the Battery Regulation, asking the EU to consider fairness and consistency with other related policies during the legislative process. The two sides reaffirmed the progress achieved through multilateral platforms such as Eureka and agreed to further strengthen cooperation in advanced technologies and supply chain partnerships. Korea—which became Eureka’s first non-European member when it joined in 2009—has actively pursued cooperation with Europe in ICT, machinery and materials, and biotechnology, and was elected to the Board in 2023. Korea also raised concerns regarding the Czech nuclear FSR investigation and the EU’s proposed new steel import restriction measures, requesting constructive resolution. MOTIR stated that this meeting with the Executive Vice-President of the European Commission served as a valuable opportunity to strengthen Korea–EU cooperation in semiconductors, AI, future mobility, and other advanced industries, while enhancing supply chain stability. MOTIR added that it will activate high-level consultation channels based on this meeting and develop the discussed agenda into concrete cooperation projects. date2025-11-28

Meeting with the Executive Vice-President of the European Commission

Kim Jung-kwan, Minister of Trade, Industry and Resources, met with Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy at the European Commission, on Thursday, November 27, in Seoul to discuss ways to deepen strategic cooperation in semiconductors, AI, future mobility, batteries, and supply chains.    During the meeting, Minister Kim and Executive Vice-President Virkkunen emphasized the need for joint responses to rising protectionism and supply chain disruptions and highlighted the importance of building a more resilient and forward-looking Korea–EU partnership. Minister Kim noted that MOTIR will activate high-level consultation channels based on the meeting's outcomes and work to develop the discussed agenda into concrete cooperation projects. date2025-11-28

Meeting with the Deputy Minister of Industry and New Technologies of the Republic of Tajikistan

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources, met with Nazar Aziz Savzali, Deputy Minister of Industry and New Technologies of the Republic of Tajikistan, on November 24 at the Korea Trade Insurance Corporation in Seoul to discuss expanding bilateral economic cooperation in trade and investment, development cooperation (ODA), and critical mineral supply chains. The Tajik delegation also included Abdugaffor Jamolzoda, Deputy Director of the Export Agency, and Shamsullo Khairullozoda, Deputy Minister of Finance. Deputy Minister Park said, “Tajikistan is one of Korea’s key economic partners in Central Asia. We will continue to advance bilateral cooperation through various policy initiatives in areas such as trade, investment, and development cooperation.” date2025-11-25

Korea and Tajikistan Discuss Expanding Economic Cooperation

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Nazar Aziz Savzali, Deputy Minister of Industry and New Technologies of the Republic of Tajikistan, on November 24, at the Korea Trade Insurance Corporation in Seoul to discuss expanding bilateral economic cooperation in trade and investment, official development assistance (ODA), and critical mineral supply chains. The Tajik delegation also included Abdugaffor Jamolzoda, Deputy Director of the Export Agency, and Shamsullo Khairullozoda, Deputy Minister of Finance. During the meeting, the two sides noted the steady growth of bilateral trade but agreed on the need to diversify exports beyond automobiles. They also discussed expanding industrial cooperation through MOTIR’s ODA programs in areas such as textiles and solar power, as well as strengthening supply chain cooperation for critical minerals available in Tajikistan.  The Tajik delegation expressed interest in benchmarking Korea’s export promotion and industrial site development policies as part of efforts to expand bilateral trade and investment, and requested more active communication, including the sharing of best practices. The Korean side agreed on the importance of strengthening exchanges and cooperation. Deputy Minister Park said, “Tajikistan is one of Korea’s key economic partners in Central Asia. We will continue to advance bilateral cooperation through various policy initiatives in areas such as trade, investment, and development cooperation.” date2025-11-24

Korea, China, and Japan Discuss Practical Industry and Technology Cooperation for Growth in the Pan-Yellow Sea Region

The 23rd Pan-Yellow Sea Rim Economic and Technology Exchange Conference, co-hosted by Korea (Ministry of Trade, Industry and Resources, Minister JK Kim), China (Ministry of Commerce), and Japan (Kyushu Bureau of Economy, Trade and Industry), was held in Daejeon from November 18 to 20. The three countries have alternated hosting the conference since its launch in 2001. At the 13th Korea–Japan–China Economic and Trade Ministers’ Meeting (March 2025, Seoul), the ministries agreed to actively support the conference as a platform for promoting business and technology exchanges among the three countries. The conference brought together over 300 participants from the three countries’ central and local governments, industries, and economic organizations. Delegates included Lee Jae-keun, Director General for New Trade Strategy and Policy at MOTIR; Wang Liping, Director General of the Department of Asian Affairs of China’s Ministry of Commerce; and Hoshino Mitsuaki, Director General of Japan’s Kyushu Bureau of Economy, Trade and Industry, as well as Park Young-kyu, Ambassador for International Relations of Daejeon Metropolitan City, the host region. Under the overarching theme of “Growth and Development of the Pan-Yellow Sea Rim Economic Zone,” participants shared recent cooperation outcomes and policy directions in specific fields—including bioindustry and healthcare, science and technology, and business exchange—and discussed future cooperation opportunities. The three countries also reached consensus on the need to build an innovation ecosystem in the region and enhance practical integration of industrial and technological cooperation. Given the strong participation of regional business leaders this year, the conference also offered a separate economic cooperation program to facilitate practical collaboration. During the Business Consultation Session on November 20, about 200 meetings took place between Korean–Chinese and Korean–Japanese companies, generating tangible outcomes in overseas expansion and investment leads.  In addition to the trilateral agenda, Korea also held bilateral cooperation programs with China and Japan. Korea and China convened the Third-Country Joint Entry Forum on November 20 to explore cooperation and joint entry strategies for third-country markets, and to share experiences and information on overseas expansion. Korea and Japan (Kyushu) held the Korea–Kyushu Economic Exchange Conference 2025 on November 18 to mark the 60th anniversary of diplomatic normalization, discussing cooperation in key supply-chain industries where the two sides are closely linked, including semiconductors and automobiles. The Korea–Japan Economic Association and the Kyushu Economic Federation—the lead organizations for bilateral economic cooperation—also issued a joint statement committing to promote exchanges among regions, institutions, and companies; address shared challenges such as future industries, low birthrates, and regional depopulation; and expand people-to-people exchanges. Separately, MOTIR (Director General Lee Jae-keun) held a trilateral director general meeting with China and Japan to discuss ways to boost trade and investment, promote cooperation in advanced industries such as ICT and biotechnology, and facilitate joint entry into third-country markets. Korea also held bilateral meetings with the Chinese and Japanese delegations to address trade issues and other matters of mutual interest. date2025-11-20

Korea and the UAE to Jointly Advance the UAE Stargate Project

The Ministry of Science and ICT (MSIT, Deputy Prime Minister and Minister Bae Kyung-hoon), the Ministry of Climate, Energy and Environment (MCEE, Minister Kim Sung-whan), the Ministry of Oceans and Fisheries (MOF, Minister Chun Jae-soo), the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), and the National AI Strategy Committee announced that, on the occasion of President Lee Jae Myung’s state visit to the United Arab Emirates, Korea and the UAE will significantly expand bilateral cooperation, including Korea’s participation in the UAE’s Stargate Project—one of the world’s largest AI-infrastructure initiatives.   To position Korea as a “top-three global AI leader,” the government has strengthened its AI innovation ecosystem across infrastructure, technology, and talent through cooperation with global partners such as BlackRock, OpenAI, and NVIDIA. Aiming to establish itself as the “AI Capital of Asia,” Korea views strategic partnerships with key nations as essential to leading the competitive global market. Cooperation with the UAE marks the first large-scale effort in extending Korea’s accumulated capabilities into overseas markets, signaling Korea’s full-fledged entry into the global AI race.   Strategic AI Cooperation Framework   Korea’s National AI Strategy Committee and the UAE’s Artificial Intelligence and Advanced Technology Council (AIATC) signed the Strategic AI Cooperation Framework, agreeing to deepen comprehensive collaboration in the AI sector. Priority areas include AI investment and infrastructure development, AI supply-chain expansion, the acceleration of AI and advanced-technology adoption, and AI R&D. Under this framework, the two countries will cooperate widely from AI technology and application development to the construction of AI-energy infrastructure.   During the summit, the two countries agreed to jointly pursue major projects for shared prosperity and development. The first initiative is the Energy-Mix-Based Hyperscale AI Data Center Project, which involves constructing a large-scale AI data center in the UAE. To ensure stable operation, the project will integrate nuclear, gas, and renewable energy sources into the power grid, while also expanding cooperation in semiconductor supply chains.   The UAE Stargate Project alone is expected to involve initial investments exceeding KRW 30 trillion, providing substantial opportunities for Korean companies in energy, batteries, climate-tech solutions, AI startups, and firms with experience in AI data centers to enter the global market.   The second initiative is a physical-AI–based smart-port and logistics project. Korea will leverage its experience operating fully automated terminals and applying data-driven physical AI to help the UAE develop highly efficient automated and intelligent ports. Busan Port and Abu Dhabi’s Khalifa Port will serve as testbeds for joint demonstration and validation. This cooperation will not only create growth opportunities for Korean physical-AI technology companies but also support the global expansion of AI-driven port and logistics systems. It represents a major step forward for both countries as emerging leaders in smart ports and logistics.   MOU to Expand AI-Sector Exchanges   MSIT and the UAE Minister of State for Artificial Intelligence signed an MOU to expand cooperation in the AI sector, supporting exchanges among research institutions, companies, and experts; facilitating private-sector engagement; and promoting AI investment. The MOU also outlines cooperation to enable Korean AI companies to participate in UAE AI-data-center construction and sector-specific AI transformation projects. To sustain cooperation, MSIT and the UAE Minister of State for Artificial Intelligence agreed to establish a director-level bilateral AI po date2025-11-19

Korea and the UAE Establish CEPA Economic Cooperation Committee and Sign MOU to Accelerate Nuclear Export Cooperation

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that, immediately following the Korea–UAE summit held on Tuesday, November 18, and in the presence of President Lee Jae Myung and UAE leaders, the two countries signed two memoranda of understanding (MOUs). These agreements establish a Korea–UAE CEPA Economic Cooperation Committee ahead of the agreement’s entry into force and accelerate cooperation in nuclear-energy technology development, efficient nuclear-plant operations, and third-country nuclear exports. MOTIR Minister JK (Jung-Kwan) Kim and Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade, signed the MOU on the Administration and Operation of the Korea–UAE Comprehensive Economic Partnership Agreement (CEPA) Economic Cooperation Committee. The Korea–UAE CEPA, formally signed in May 2024 and currently undergoing parliamentary ratification, is Korea’s first FTA with a Middle Eastern country and holds significant meaning. With this MOU, both sides have proactively established an operational framework so that concrete cooperation programs can begin immediately once the agreement enters into force. MOTIR plans to activate the committee as soon as CEPA takes effect, identify priority areas for bilateral cooperation, and enhance the agreement’s implementation. In addition, Korea Electric Power Corporation (KEPCO) and the Emirates Nuclear Energy Company (ENEC) signed the MOU on Nuclear New Technologies, AI, and Global Market Cooperation. Through this partnership, the two countries will expand cooperation to ensure stable and reliable nuclear-plant operations, including joint training programs for junior engineers and data specialists, and increased exchanges between universities and research institutes. The two sides will also enhance predictive maintenance, operational-environment simulation, and digitalization of plant data by leveraging AI and digital technologies. Building on these advancements, they agreed to expand the Barakah cooperation model to a global level and pursue joint entry into third-country nuclear markets. MOTIR stated that the two MOUs will activate practical cooperation platforms that bring together both governments and private-sector entities in trade and nuclear-export fields. The ministry added that it will strengthen follow-up measures for joint projects and actively support Korean companies operating in the UAE. date2025-11-19

2025 International Cooperation Meet-up Day for Middle Market Enterprises

Trade Minister Yeo Han-koo delivered welcome remarks at the 2025 International Cooperation Meet-up Day for Middle Market Enterprises on Monday, November 17, at the Fairmont Ambassador Seoul.   The event brought together around 80 participants, including FOMEK Chairman Choi Jin-shik, KOIMA President Youn Young-mi, MOTIR Trade Minister Yeo Han-koo, Dato' Mohd Zamruni bin Khalid, Ambassador of Malaysia to the Republic of Korea, other ASEAN ambassadors stationed in Korea, and representatives from Dongsung and Sempio.   In his welcome remarks, Trade Minister Yeo noted that ASEAN has become Korea’s second-largest trade and investment region, adding that MOTIR will upgrade the Korea–ASEAN FTA with a focus on digital trade while actively addressing non-tariff and other barriers that impede the overseas expansion of Korean middle-market enterprises. date2025-11-18