Ministry of Trade Industry and Resources

Meeting with Member of the European Parliament Lina Gálvez

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR) met with Member of the European Parliament Lina Gálvez at the European Parliament in Brussels, Belgium, on June 2, 2026. The two sides discussed major trade issues, including EU steel tariff-rate quotas (TRQs).  date2026-06-05

Meeting with Member of the European Parliament Danuše Nerudová

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR) met with Member of the European Parliament Danuše Nerudová at the European Parliament in Brussels, Belgium, on June 2, 2026. The two sides discussed major trade issues, including EU steel tariff-rate quotas (TRQs).  date2026-06-05

Meeting with Member of the European Parliament Anna Cavazzini

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR) met with Member of the European Parliament Anna Cavazzini at the European Parliament in Brussels, Belgium, on June 1, 2026. The two sides discussed major trade issues, including EU steel tariff-rate quotas (TRQs).  date2026-06-05

Meeting with European Commissioner for Trade and Economic Security

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR) met with Maroš Šefčovič, European Commissioner for Trade and Economic Security, at the European Commission headquarters in Brussels, Belgium, on June 1, 2026. The two sides discussed major trade issues, including EU steel tariff-rate quotas (TRQs). Minister Yeo conveyed Korea’s concerns over the EU steel measure and requested sufficient market access for Korean steel, noting its role in supporting stable supply chains in EU manufacturing. date2026-06-05

Korea–Canada Advanced Industry Cooperation Business Roundtable

MOTIR Vice Minister Moon Shin-hak attended the Korea–Canada Advanced Industry Cooperation Business Roundtable in Toronto, Canada, on June 1, 2026.  The event was organized by the Korea Trade-Investment Promotion Agency (KOTRA) and brought together Kang Hoon-sik, Chief of Staff to the President and the President’s special envoy for strategic economic cooperation; Lee Yong-cheol, Minister of the Defense Acquisition Program Administration (DAPA); Stephen Lecce, Ontario’s Minister of Energy and Mines; and approximately 50 business leaders from major Korean and Canadian defense, space, and hydrogen companies. “By combining Canada’s abundant resources and advanced technologies with Korea’s world-class manufacturing capabilities, the two countries can lead global markets in advanced industries,” Special Envoy Kang said. “Industrial cooperation between Korea and Canada should go beyond simple buying and supplying and develop into a broader ecosystem that connects technology, security, and talent.” date2026-06-02

Video Meeting with Chairman of Oman’s Public Authority for Special Economic Zones and Free Zones

On June 1, 2026, Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) held a video meeting with H.E. Qais bin Mohammed Al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ) of Oman, from his office at the Government Complex Seoul. The two sides discussed key areas of Korea–Oman economic cooperation, including stable resource supplies, Korean companies’ participation in plant projects, and ways to facilitate logistics flows. Minister Kim said Oman is an important partner in the Middle East, given its location outside the Strait of Hormuz and abundant energy resources, and that Korea will work with Oman to expand cooperation in resource security, plant projects, and logistics. date2026-06-02

The Republic of Korea and Canada Deepen Co-operation on Energy Resources and Critical Minerals

Today, Republic of Korea’s Chief of Staff to the President and Special Envoy for Strategic Economic Cooperation, Kang Hoon-Sik, met with the Canada’s Minister of Energy and Natural Resources, Tim Hodgson.   They highlighted significant opportunities to expand the Korea–Canada commercial relationship in energy and natural resources, with Canada positioned to be a stable, reliable and predictable partner for the Republic of Korea. Energy resources and critical minerals co-operation remain central to our bilateral relationship, anchored by the existing Memorandum of Understanding between Natural Resources Canada and Innovation, Science and Economic Development Canada and the Ministry of Trade, Industry and Resources of the Republic of Korea on Cooperation in Critical Mineral Supply Chains, the Clean Energy Transition and Energy Security.    The Republic of Korea and Canada continued discussions on priority areas, including joint stockpiling of critical minerals, investments in strategic natural resources projects and policy measures to stabilize energy supplies. They agreed that the Republic of Korea’s Ministry of Trade, Industry and Resources and Natural Resources Canada will develop a joint plan on critical minerals stockpiling by the end of 2026 as part of a shift to a more integrated supply chain partnership. They welcomed an implementation agreement between the Geological Survey of Canada (GSC) and the Korea Institute of Geoscience and Mineral Resources (KIGAM) to advance research and development collaboration on naturally occurring hydrogen.   The Republic of Korea and Canada are also deepening energy trade, including increasing Canadian exports of liquefied petroleum gas and liquefied natural gas to Korea. The Korea Gas Corporation remains a key investor in LNG Canada Phase I and a prospective partner for Phase II. A final investment decision for Phase II is expected later this year, after recent progress was made by the Governments of Canada and British Columbia. Once the decision is made and LNG Phase II enters full production — which is expected in the early 2030s — the Republic of Korea plans to import at least 1.4 million tons of Canadian LNG annually for more than 30 years. The Republic of Korea also plans to significantly increase imports of Canadian crude in the coming years and has agreed to facilitate the application of preferential tariff treatment on Canadian crude imports within the framework of the Korea–Canada Free Trade Agreement, furthering strengthening our energy ties.  The Republic of Korea and Canada will continue to build on a strong, forward-looking partnership in energy and natural resources, grounded in shared priorities of resource security, the clean energy transition and sustainable critical mineral development. Quotes “Amidst geopolitical risks, Korea and Canada stand as deeply reliable partners. Built on this trust, our co-operation strengthens our mutual resource security while synergizing perfectly with our resilient industrial base. Moving forward, we are committed to elevating this foundation into a fully integrated energy supply chain partnership.” Kang Hoon-Sik Republic of Korea’s Chief of Staff to the President and Special Envoy for Strategic Economic Cooperation “Canada and the Republic of Korea share a strong and growing partnership built on our mutual interest in energy security, accelerating and diversifying critical minerals supply chains, and responsibly advancing the clean energy transition. As global demand rises, Canada is proud to be a stable and dependable partner to Korea and beyond, ready to deepen collaboration and unlock new opportunities for sustainable economic growth in both our countries.” The Honourable Tim Hodgson Canada’s Minister of Energy and Natural Resources date2026-06-02

Korea, Canada Move Beyond Trade to Build Advanced Industry Partnership

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the Korea–Canada Advanced Industry Cooperation Business Roundtable (BRT) in Toronto on June 1, 2026. Organized by the Korea Trade-Investment Promotion Agency (KOTRA), the roundtable brought together Kang Hoon-sik, Chief of Staff to the President of the Republic of Korea and Special Envoy for Strategic Economic Cooperation; MOTIR Vice Minister Moon Shin-hak; Lee Yong-cheol, Minister of the Defense Acquisition Program Administration (DAPA); Stephen Lecce, Ontario’s Minister of Energy and Mines; and more than 50 business leaders from major defense, space, and hydrogen companies in Korea and Canada. The roundtable focused on practical cooperation projects between companies in future growth industries with significant potential for strategic cooperation between Korea and Canada, including defense, space, and hydrogen. Participants also explored how both governments could support these efforts. Hanwha presented possible defense and space cooperation, while Hyundai Motor outlined hydrogen cooperation opportunities, including projects in Canada. “By combining Canada’s abundant resources and advanced technologies with Korea’s world-class manufacturing capabilities, the two countries can lead global markets in advanced industries,” Special Envoy Kang said. “Industrial cooperation between Korea and Canada should go beyond simple buying and supplying and develop into a broader ecosystem that connects technology, security, and talent.” The delegation then visited Martinrea International Inc., a key party to the MOU signed in April 2026 between Hanwha and the Automotive Parts Manufacturers’ Association (APMA) of Canada. APMA President Flavio Volpe and executives from eight leading Canadian auto parts companies also joined the visit, showing strong interest in defense manufacturing cooperation with Korea. Special Envoy Kang said cooperation between Hanwha and APMA marks an important step for Canada’s automotive industry, a cornerstone of the Ontario economy, to expand into defense. “I hope companies from both countries will build new models for success in Canada and create new opportunities to jointly expand into third-country markets,” he said. MOTIR also announced that Korean and Canadian companies signed three MOUs in space and defense on the sidelines of the roundtable and site visit, covering satellite communications, launch facilities, and defense vehicles. date2026-06-02

Minister Yeo Holds Roundtable with Ulsan Exporters

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) chaired a roundtable with Ulsan exporters in Ulsan on May 29, 2026. The meeting was attended by representatives from local companies, including Hanjoo Light Metal, YK-INPRO E&C, and LIHAON. After delivering opening remarks, Minister Yeo discussed production conditions, export trends, and business concerns among major companies in Ulsan. Minister Yeo said MOTIR will continue helping local and small businesses enter export markets and provide sustained support for promising SMEs with the potential to play a central role in Korea’s exports. date2026-06-01

Minister Yeo Visits HD Hyundai Electric and Meets with Power Equipment Exporters

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) visited HD Hyundai Electric in Ulsan on May 29, 2026, to support continued growth in Korea’s exports. During the visit, Minister Yeo toured key production lines, including transformer lines, and met with executives and officials from power equipment exporters, including HD Hyundai, Sam Dong, and Inheung Industries. They discussed government support for expanding Korean power equipment exports. date2026-06-01