Ministry of Trade Industry and Resources

Korea and ASEAN Discuss Ways to Deepen Economic and Trade Cooperation

Yeo Han-koo, Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held talks with the ASEAN Committee in Seoul (ACS) at the Korea Chamber of Commerce and Industry (KCCI) on May 18, 2026, to discuss ways to deepen economic and trade cooperation between Korea and ASEAN. The meeting focused on practical ways to expand trade with ASEAN, Korea’s second-largest trading partner, upgrade the Korea–ASEAN Free Trade Agreement (FTA) and strengthen supply chain cooperation. The talks also reaffirmed the need for closer communication and coordination between the two sides as external uncertainties grow, including instability in the Middle East. Both sides first discussed ways to expand trade. They noted that ASEAN is one of Korea’s key economic and trade partners and a fast-growing market, and agreed to broaden two-way trade into more diverse sectors. They also reviewed negotiations to upgrade the Korea–ASEAN FTA. Since taking effect in 2007, the agreement has underpinned growth in two-way trade and investment. Minister Yeo said the FTA should reflect recent shifts in the global trade environment and be modernized with a broader framework, including digital provisions that were not part of the original agreement. He added that Korea will work to deliver substantive outcomes by 2027, which will mark ASEAN’s 60th anniversary, the 20th anniversary of the FTA’s entry into force and the 30th anniversary of Korea–ASEAN summit meetings. They also exchanged views on risks to global supply chains stemming from recent developments in the Middle East. Recognizing that Korea and ASEAN are linked as both suppliers and markets for each other, not through a one-way trade relationship, they agreed to keep strengthening supply chain cooperation in times of crisis. The Korean government will continue working with ASEAN, Korea’s key economic cooperation partner, to deliver practical outcomes in trade expansion, the Korea–ASEAN FTA upgrade and supply chain cooperation. date2026-05-18

KATS Certifies 28 New Technologies and Products to Drive Innovative Growth

The Korean Agency for Technology and Standards (KATS, Administrator Kim Daeja) under the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will certify 28 new technologies and products on May 18, 2026, as future drivers of Korea’s innovation-led growth. They were selected from 411 technologies and products after a rigorous review, with competition reaching about 15 to 1. New Excellent Technology (NET) and New Excellent Product (NEP) certifications are granted to technologies first developed in Korea or technologies that significantly improve existing ones, as well as to commercialized products built around such technologies. Certified technologies and products receive public procurement support, including mandatory purchasing by public institutions and priority purchasing of technology-developed products. They also qualify for benefits such as preferential access to SME policy loans and additional points in government program applications, helping technology-driven SMEs grow through procurement, financing, and other support. For NET certification, KATS received applications for 170 technologies and selected 12 outstanding technologies across five fields: electrical and electronics, information and communications, nuclear power and renewable energy, chemistry and life sciences, and construction and environment. In the nuclear power and renewable energy field, KATS selected a passive hydrogen recirculation ejector for fuel cells that uses the Coandă effect. The technology supplies and recirculates hydrogen without additional power, improving fuel cell efficiency and reducing maintenance costs. It is expected to help localize key fuel cell components. For NEP certification, KATS received applications for 241 products and certified 16 across five fields: electrical and electronics, information and communications, machinery and materials, chemistry and life sciences, and construction and environment. One notable product is the Magbot robot automatic tool changer, which uses switching magnetic technology. It allows a single robot to change tools on its own and perform various processes. By consuming electricity only when tools are attached or detached, the product maximizes efficiency and is expected to support manufacturing automation and expand into construction, medical services, and other industries. “The newly certified technologies and products are expected to become tangible growth drivers for the Korean economy,” KATS Administrator Kim Daeja said. “The government will continue to expand support, including priority purchasing by public institutions and overseas expansion programs, to help these companies grow into global unicorns.” date2026-05-18

ICT Exports Reach $42.7 Billion in April, Post Highest Year-on-Year Growth Rate Record

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Science and ICT (MSIT, Deputy Prime Minister and Minister Bae Kyung-hoon) announced on May 15, 2026, that Korea’s ICT exports in April reached USD 42.7 billion, up 125.9 percent year-on-year from $18.9 billion. Imports rose 33.3 percent from $12.1 billion to $16.2 billion, resulting in a trade surplus of $26.6 billion. In April 2026, ICT exports topped $40.0 billion for a second straight month for the first time and posted the highest year-on-year growth rate on record, despite the conflict in the Middle East. The ICT trade surplus also topped $20.0 billion for a third consecutive month for the first time. ICT products accounted for nearly half, or 49.7 percent, of Korea’s total exports, which stood at $85.9 billion, reinforcing ICT’s role as a key driver of Korea’s exports. By product, exports increased for semiconductors (up 173.3 percent), mobile phones (up 14.0 percent), computers and peripherals (up 430.0 percent), and communication equipment (up 9.9 percent), but decreased for displays (down 5.3 percent). Semiconductor exports stayed above $30.0 billion for a second straight month for the first time, supported by rising memory contract prices as demand continued to exceed supply amid continued investment in AI servers and other server infrastructure. Mobile phone exports increased on higher shipments of finished products and solid sales of high-value parts, including camera modules. Computers and peripherals posted an all-time high, supported by higher demand and prices for solid-state drives (SSDs) used in AI servers. Communication equipment exports returned to growth for the first time in three months on solid demand for components shipped to Vietnam and wired communications equipment shipped to Japan. By contrast, display exports declined as higher semiconductor prices weighed on downstream demand. By destination, exports increased in all major markets: the United States (up 294.2 percent), China, including Hong Kong (up 132.1 percent), the European Union (up 58.4 percent), Taiwan (up 89.4 percent), Vietnam (up 89.3 percent), India (up 86.5 percent), and Japan (up 42.5 percent). ICT imports totaled $16.2 billion in April 2026, up 33.3 percent from $12.1 billion a year earlier, as imports increased across most major ICT categories: semiconductors (up 53.2 percent), displays (up 15.1 percent), mobile phones including parts (up 10.6 percent), and computers and peripherals (up 27.0 percent). date2026-05-15

MOTIR Realigns K-Nuclear Export Framework for Global Nuclear Renaissance

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) convened the first Nuclear Power Plant Export Strategy Council meeting of 2026 on May 14 at the Korea Trade Insurance Corporation (K-SURE). During the session, chaired by Minister JK Kim, the Ministry unveiled a comprehensive roadmap to streamline Korea’s nuclear export framework. These measures are designed to enhance the government’s strategic coordination and support, reflecting the fundamental nature of nuclear projects as government-to-government initiatives. MOTIR’s implementation strategy follows a two-tiered approach: immediate tactical actions and long-term goals to be realized by the end of 2026. As an immediate step, MOTIR will establish a public-private Nuclear Power Plant Export Planning Committee under the Council’s jurisdiction. This committee will serve as a central hub for project planning and coordination, while significantly bolstering external oversight and advisory functions regarding economic feasibility, risk management, and other critical factors. In recognition of the significant impact of nuclear power plant exports on national security and the economy, as well as the necessity for large-scale financing, the government intends to assume a more proactive leadership role by conducting reviews and seeking guidance from external experts to enhance project performance.  Market management, previously divided between Korea Electric Power Corporation (KEPCO) and Korea Hydro & Nuclear Power (KHNP), will be consolidated into a unified, collaborative framework. Under this model, KEPCO and KHNP will jointly pursue overseas project development and lead contracting. In line with efforts to leverage each company’s strength, KEPCO will spearhead negotiations with partner countries and lead equity investments, while KHNP will focus on construction and operational management. However, to maintain continuity and leverage established expertise, KHNP will retain its lead role in project development, contracting, construction, and operations for large-scale exports to the Czech Republic and the Philippines, as well as for innovative Small Modular Reactor (i-SMR) initiatives. Moving forward, as part of the Ministry’s long-term goals, MOTIR also plans to enact the "Nuclear Power Plant Export Promotion Act" (tentative title) by the end of 2026. This Act aims to evaluate the performance of KEPCO and KHNP respectively and, through public consultation, the Act will be enacted. This legislation will provide a robust statutory foundation for export support, encompassing market development, information systems, financing, government contributions, professional training, and technology certification. Furthermore, it will mandate that public institutions involved in nuclear exports consult with the government on major strategic decisions, including large-scale borrowing, investments, export contracts, and the transfer or modification of nuclear intellectual property rights. The Ministry is also evaluating the legal basis for a dedicated lead export agency responsible for the full project lifecycle—from feasibility studies and client negotiations to bidding and final contracting. Several options remain under active consideration, including consolidating functions within KEPCO or KHNP or launching a new, integrated export agency.  During the meeting, KEPCO President Kim, Dong-cheol and KHNP President Kim Hoechun formalized a strategic partnership agreement for nuclear exports. The two companies agreed to bolster cooperation across all project stages and expand the exchange of information and personnel. Notably, they also agreed to amend the UAE nuclear power plant contract which allows for the dispute settlement to be arranged not in the United Kingdom but in Korea. This initiative follows the adoption of MOTIR’s proposal, aimed at reducing litigation expenses related to sett date2026-05-14

Korea–Mexico Business Roundtable

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) chaired the Korea–Mexico Business Roundtable at the Sheraton Maria Isabel Hotel in Mexico on May 12, 2026.  The meeting brought together major business leaders from the two countries, including representatives from the Business Coordinating Council (CCE), the Mexican Business Council for Foreign Trade, Investment and Technology (COMCE), the Employers’ Confederation of the Mexican Republic (COPARMEX), and the Mexican Automotive Industry Association (AMIA).  Participants discussed ways to strengthen Korea–Mexico economic cooperation and build private-sector support for the Korea–Mexico FTA. The roundtable also provided a venue for business networking and raised private-sector interest in advancing the FTA. date2026-05-14

Meeting with Mexican Senators

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Mexican senators at the Senate of the Republic in Mexico on May 13, 2026. The meeting was attended by Senator Yeidckol Polevnsky, Chair of the Asia-Pacific Foreign Relations Committee; Senator Emmanuel Reyes, Chair of the Economic Affairs Committee; and Senator Rolando Zapata. The two sides discussed ways to strengthen Korea–Mexico economic cooperation. Trade Minister Yeo underscored the importance of Korean companies invested in Mexico and asked for support in advancing the Korea–Mexico FTA. date2026-05-14

Meeting with the Chief of Staff to the President of Mexico

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Lázaro Cárdenas Batel, Chief of Staff to the President of Mexico, at his office in Mexico on May 13, 2026. Trade Minister Yeo conveyed difficulties faced by Korean companies operating in Mexico and asked Chief of Staff Cárdenas for support in resuming Korea–Mexico FTA negotiations. date2026-05-14

Meeting with Former Senior Mexican Trade Officials on Korea–Mexico FTA

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Juan Carlos Baker Pineda, former Vice Minister for Foreign Trade of Mexico, and Roberto Zapata Barradas, former Ambassador and Permanent Representative of Mexico to the World Trade Organization (WTO), at the Sheraton Maria Isabel Hotel during his visit to Mexico on May 12, 2026. The meeting focused on the need for a Korea–Mexico FTA and ways to build support for resuming negotiations, as Korea and Mexico seek to improve and modernize their trade and investment relationship. date2026-05-14

Meeting with Mexico’s Secretary of Economy

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Marcelo Ebrard, Mexico’s Secretary of Economy, at the Ministry of Economy in Mexico on May 12, 2026.  The two sides discussed difficulties faced by Korean companies operating in Mexico and ways to resume Korea–Mexico FTA negotiations.  The two sides agreed to improve and modernize the current trade and investment relationship, and to establish a ministerial Strategic Dialogue and a working-level Working Group between their trade authorities.  date2026-05-14

Korea–EU Trade Ministerial Meeting

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Maroš Šefčovič, European Commissioner for Trade and Economic Security, at the European Commission headquarters in Brussels, Belgium, on May 11, 2026. “The government will use its full trade policy capacity to help Korean companies operating overseas invest with stability and remain competitive,” Trade Minister Yeo said. He added that MOTIR will continue to raise industry concerns through Korea–EU high-level consultations and follow-up working-level channels, while continuing discussions to ease regulatory burdens and improve market access. date2026-05-14