Ministry of Trade Industry and Resources

Korea and Vietnam Step Up Strategic Cooperation in Advanced and High-Potential Industries

Korea and Vietnam agreed to expand strategic cooperation by developing concrete initiatives in trade and investment, industrial technology, and energy security, as discussed at the two summits held in August 2025 and April 2026 since Korea’s current administration took office. The two countries plan to move forward with projects, including the start of construction on the Korea–Vietnam Critical Minerals Supply Chain Technology Center, cooperation to develop oil stockpiling facilities, and technology transfers through Korea’s technology-sharing model. On August 26, 2026, Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) and Minister Le Manh Hung of Vietnam’s Ministry of Industry and Trade co-chaired the 15th Korea–Vietnam Industrial Joint Committee and the 9th Korea–Vietnam  FTA Joint Committee at Lotte Hotel Seoul. They discussed how to strengthen bilateral cooperation in the real economy. The 15th Korea–Vietnam Industrial Joint Committee  At the Industrial Joint Committee, the two countries discussed specific measures to increase bilateral trade to USD 150 billion by 2030. In the trade subcommittee, they agreed to coordinate closely to simultaneously conclude the quarantine negotiations for Vietnam’s exports of lychees and passion fruit to Korea and Korea’s exports of satsuma mandarins and kiwifruit to Vietnam. They also agreed to further strengthen cooperation on digitalizing distribution and logistics and protecting intellectual property rights, including detecting and cracking down on counterfeits, as well as cooperation between the Korea Fair Trade Commission (KFTC) and the Vietnam Competition Commission (VCC). In the industrial technology subcommittee, the two sides agreed to step up efforts to resolve issues facing Korean companies in Vietnam and accelerate bilateral technology cooperation. Vietnam will work with local governments to help Korean manufacturers recruit workers, while Korea will actively support technology transfers from large Korean corporations operating in Vietnam to their Vietnamese partners through Korea’s technology-sharing model. The two countries also agreed to strengthen cooperation on quality standardization and help expand incentives for Korean companies operating in Vietnam’s automotive industry. In critical minerals in particular, the two countries agreed to expedite the necessary administrative procedures so that construction of the Korea–Vietnam Critical Minerals Supply Chain Technology Center can begin promptly. Vietnam said it would continue to coordinate with relevant agencies to clear investment hurdles for Korean companies, including those involving approval to establish a rare earth metals production plant. The two sides also agreed to continue discussing cooperation across the critical minerals supply chain, including how the two governments could help companies operating in Vietnam secure a stable supply of critical minerals. In the energy and resources subcommittee, Korea and Vietnam agreed to pursue long-term cooperation on resource supply chains, including jointly stockpiling crude oil and establishing an emergency response mechanism. They also agreed to support the smooth implementation of LNG power projects in Vietnam and continue strengthening policy cooperation on power grid infrastructure projects, nuclear power, and renewable energy. At the event, the two ministers witnessed Korea National Oil Corporation (KNOC) and PetroVietnam Oil Stockpile Company Limited (PVOS) sign an MOU to cooperate on developing an oil stockpiling facility in Vietnam. Vietnam is moving to build its first underground oil storage facility in response to recent disruptions to oil supplies from the Middle East. KNOC, which has successfully operated oil stockpiling facilities in Korea, agreed to provide technical consulting across all aspects of facility d date2026-08-27

Korea-India Hold 13th Round of CEPA Upgrade Negotiations

Lee Min-young, Acting Director General for Trade Agreement Negotiations at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the 13th round of negotiations to upgrade the Korea–India Comprehensive Economic Partnership Agreement (CEPA) in Seoul on August 19, 2026. The meeting brought together negotiating delegations from both countries, including Kapil Chaudhary, Joint Secretary at India’s Department of Commerce. The two sides discussed goods, services, rules of origin, technical barriers to trade, supply chains, and industrial cooperation. MOTIR said, “Through the upgrade negotiations, we will lay the foundation for economic cooperation that extends beyond traditional market access to supply chain and industrial cooperation between the two countries.” date2026-08-19

Korea Steps Up CEPA Upgrade Talks with India, the World’s Largest Emerging Market

Korea is stepping up negotiations to upgrade the Korea–India Comprehensive Economic Partnership Agreement (CEPA) to expand bilateral trade and investment. India, the world’s most populous country, has about 1.43 billion people and a GDP of USD 4 trillion.  The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that the 13th round of negotiations to upgrade the Korea–India CEPA will be held in Seoul from August 19 to August 21, 2026. The upgrade talks began in 2016 but were temporarily suspended due to differences in the two countries’ positions. They resumed after the Korea–India summit in April 2026, with the 12th round taking place in New Delhi the following month. An Indian delegation will travel to Seoul for the 13th round, which will bring together approximately 60 government officials from both countries. Korea’s delegation will be headed by Lee Min-young, Acting Director General for Trade Agreement Negotiations at MOTIR, and India’s by Kapil Chaudhary, Joint Secretary at India’s Department of Commerce. The two sides will explore their respective interests regarding market access for key goods and services, rules of origin, and the scope for further market opening. They will also hold detailed discussions on new areas of cooperation, including supply chains and strategic industries. The two sides will also discuss the operational framework and key agenda items for the Korea–India Industrial Cooperation Committee, established following the April summit, including its subcommittee structure and schedule for future meetings. “India is an emerging market with the world’s largest population, yet Korea–India trade totaled only USD 25.6 billion in 2025. That was about one-tenth the value of Korea’s trade with ASEAN, whose economy is similar in size to India’s,” MOTIR said. “There is therefore considerable room to expand bilateral trade and investment. Through the upgrade negotiations, we will lay the foundation for economic cooperation that extends beyond traditional market access to supply chain and industrial cooperation between the two countries.” date2026-08-19

Vice Minister Moon Meets with Tajikistan’s First Deputy Minister of Industry and New Technologies

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Isojon Qurbonzoda, First Deputy Minister of Industry and New Technologies of Tajikistan, at Government Complex Seoul on August 11, 2026.  The two sides discussed industrial and economic cooperation projects for the first Korea-Central Asia Summit and bilateral cooperation on critical minerals. “We will further develop the cooperation initiatives discussed today and work to translate them into tangible results in industry, supply chains, and critical minerals at the Korea-Central Asia Summit in September,” Vice Minister Moon said. date2026-08-11

MOTIR and Tajikistan Discuss Economic Cooperation Projects Ahead of Korea-Central Asia Summit

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Isojon Qurbonzoda, First Deputy Minister of Industry and New Technologies of the Republic of Tajikistan, in Seoul on August 11, 2026. The meeting provided an opportunity for discussions on industrial and economic cooperation projects for the first Korea-Central Asia Summit, scheduled for September 16, 2026, as well as ways to achieve tangible outcomes through cooperation in critical minerals. The two sides discussed establishing the C5+Korea Industry Ministers’ Meeting as a regular consultative channel among the industry ministers of Korea and the five Central Asian countries—Tajikistan, Kazakhstan, Uzbekistan, Turkmenistan and Kyrgyzstan. Discussions were also held on signing a memorandum of understanding (MOU) on mutually beneficial cooperation in industry and new technologies between Korea and Tajikistan, as well as ways to expand engagement and cooperation between business leaders from both countries through the Korea-Central Asia Business Summit, which will take place alongside the leaders’ summit. The talks also covered closer cooperation on critical mineral supply chains. Vice Minister Moon welcomed the inaugural Korea-Tajikistan Minerals Forum, highlighting Tajikistan’s abundant mineral resources, including gold, silver and antimony. The forum will be held in Seoul on August 12, 2026, ahead of the Korea-Central Asia Summit. Vice Minister Moon expressed hope that the forum would help identify practical projects by connecting Tajikistan’s resource potential with Korea’s expertise and technologies for mineral exploration and development, as well as Korea’s demand for minerals. The forum will bring together government officials and representatives of relevant institutions and companies from both countries to discuss critical minerals policies, opportunities for joint exploration, investment and financing and supply chain development. “Tajikistan and other Central Asian countries, with their abundant resources and growth potential, are important partners for Korea,” Vice Minister Moon said. “We will build on the initiatives discussed today to deliver tangible outcomes in the areas of industry, supply chains and critical minerals at the Korea-Central Asia Summit in September.” date2026-08-11

Korea and Argentina Sign MOU on Critical Minerals Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) and Pablo Quirno Magrane, Argentine Minister of Foreign Affairs, International Trade and Worship, signed a memorandum of understanding (MOU) on critical minerals cooperation on July 31, 2026, during President Lee Jae Myung’s official visit to Argentina. date2026-08-06

Meeting with Argentine Minister of Economy

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Luis Andrés Caputo, Minister of Economy of Argentina, on July 31, 2026, during President Lee Jae Myung’s official visit to Argentina.   The two ministers discussed cooperation on critical minerals—a topic also addressed at the summit—as well as ways to expand Korea’s trade ties with Latin America, including by advancing negotiations on a trade agreement between Korea and MERCOSUR. date2026-08-06

Korea and U.S. Advance Standards Cooperation in AI and Quantum Technology

The Korean Agency for Technology and Standards (KATS, Administrator Daeja Kim) under the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that it co-hosted the 6th Korea-U.S. Standards Forum with the American National Standards Institute (ANSI) in Denver, Colorado, on July 31, 2026. Around 60 experts from industry, academia, and research organizations attended the forum, including representatives from ANSI, the U.S. National Institute of Standards and Technology (NIST), the Standards Council of Canada (SCC), Microsoft, and HP, Inc. Participants discussed concrete ways to coordinate their efforts to lead international standardization in advanced technologies. Through panel discussions focused on four key areas—AI, quantum technology, future mobility, and biotechnology—experts from both countries shared updates on the latest standardization trends and discussed practical ways to establish a framework for cooperation on jointly proposing international standards and shaping the standard-setting process from an early stage. In parallel with the forum, KATS held separate bilateral meetings with NIST, ANSI, and SCC. With NIST, KATS discussed cooperation in AI and quantum technology, areas in which NIST plays a leading global role. KATS and SCC agreed to expand cooperation across critical and emerging technologies by building on their cooperation on AI pre-standardization and the implementation of their joint work plan. At their regular meeting, KATS and ANSI exchanged information on their respective national standards policies and discussed ways to expand private-sector cooperation with U.S. standards developing organizations (SDOs) and strengthen coordination within the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC). The two sides also agreed to step up joint efforts in international standardization, expand expert exchanges in advanced technologies such as AI and quantum technology, and develop concrete action plans to translate standards cooperation into tangible outcomes. “Building on the strong trust between the national standards bodies of Korea and the United States, we will pursue practical cooperation on proposing international standards and promoting their use by industry in critical advanced technologies such as AI and quantum technology,” said KATS Administrator Daeja Kim. “We will also regularly implement action plans and facilitate expert exchanges with North American standards organizations, including ANSI, NIST, and SCC, to maximize our ability to deliver results and help Korean technologies be reflected in global standards and gain a foothold in overseas markets.”   date2026-08-04

Fifth Round of Korea-Bangladesh CEPA Negotiations

Park Geun-oh, Director General for Trade Agreement Policy at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and Korea’s chief negotiator, attended the opening session of the fifth round of official negotiations on the Korea-Bangladesh Comprehensive Economic Partnership Agreement (CEPA) at Lotte Hotel Seoul on July 27, 2026. The meeting brought together government delegations from both countries, including Ayesha Akther, Additional Secretary and Head of the Foreign Trade Agreement Wing at the Ministry of Commerce and Bangladesh’s chief negotiator. Director General Park said a CEPA would help Korean companies enter the South Asian market and diversify their supply chains, adding that Korea would work to resolve the outstanding issues and bring the negotiations to an early conclusion. date2026-07-28

Korea-U.S. Shipbuilding Partnership Center Launches

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the opening ceremony of the Korea-U.S. Shipbuilding Partnership Center (KUSPC) at the Mayflower Hotel in Washington, D.C., on July 23, 2026. The ceremony brought together U.S. Secretary of Commerce Howard Lutnick, government officials, and representatives of shipbuilding companies and organizations from both countries. The center was established as a follow-up to the May 8 MOU between MOTIR and the U.S. Department of Commerce establishing the Korea-U.S. Shipbuilding Partnership Initiative (KUSPI). After delivering welcoming remarks, Minister Kim witnessed Korean and U.S. companies and institutions sign 15 MOUs covering areas including joint R&D, workforce development, and supply chain cooperation. Minister Kim called KUSPC “a unique platform for shipbuilding cooperation and a symbol of Korea’s firm commitment to helping rebuild the U.S. shipbuilding industry.” date2026-07-28