Ministry of Trade Industry and Resources

Korea and Kyrgyzstan Move to Accelerate Trade and Investment Cooperation

1. First Korea–Kyrgyzstan Trade and Investment Cooperation Committee The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Bae Jun-hyoung, Director General for International Trade Relations, held the first meeting of the Korea–Kyrgyzstan Trade and Investment Cooperation Committee with Mederbek Tumanov, Deputy Minister of Economy and Commerce of the Kyrgyz Republic, in Bishkek on June 12, 2026. At the meeting, the two sides discussed cooperation tasks and future work across trade and investment, official development assistance (ODA), critical minerals, industrial cooperation, business cooperation, and other areas. On trade and investment, the two sides welcomed the recent growth in bilateral trade and agreed to create favorable conditions to expand two-way investment and strengthen industrial cooperation. They also agreed to support Korean companies entering the Kyrgyz market and promote business exchanges through the Korea Trade-Investment Promotion Agency (KOTRA) trade office in Bishkek, which is being prepared for opening within 2026. On development cooperation, the two sides reviewed the results of MOTIR’s technical guidance project for Kyrgyzstan’s textile sector and discussed future ODA cooperation, including a digital transformation (DX) technical guidance project scheduled to begin in 2026. The project will support the digitalization of Kyrgyzstan’s transport infrastructure and textile and apparel industry, expand technical exchanges between the two countries, and help build a stronger basis for Korean companies to enter the local market. On critical minerals, the two sides identified potential for cooperation on promising mineral resources in Kyrgyzstan, including antimony and tungsten. They agreed to share information on mineral resources, policies, and prospective projects, and to review possible cooperation in sustainable mineral development and processing technologies over the medium to long term. On business cooperation, the two sides focused on key issues Korean companies raised in the course of advancing business projects in Kyrgyzstan. The Korean side asked the Kyrgyz government for its close attention and support in maintaining a predictable and favorable business environment, so that Korean companies can continue investing and operating in the country under stable conditions. 2. Meeting with Kyrgyzgeology Vice President Director General Bae then met with Tynchybek Uulu Ryskul, Vice President of State Enterprise Kyrgyzgeology. The meeting focused on expanding bilateral cooperation in critical minerals, particularly high-potential mineral resources in Kyrgyzstan, including antimony, tungsten, and rare earth elements. The two sides shared the view that stable and diversified critical mineral supply chains are important and agreed to continue cooperation between relevant organizations from both countries in exchanging mineral resource information, identifying project opportunities, and strengthening exploration capabilities. 3. Roundtable  with Korean Companies Operating in Kyrgyzstan Director General Bae also attended a roundtable to support Korean companies operating in Kyrgyzstan at the Korean Embassy in Bishkek, together with Ambassador Kim Kwang-jae. At the roundtable, he exchanged views with Korean companies on expanding their presence in the Kyrgyz market and advancing their business projects in the country. He noted that MOTIR will continue to strengthen communication with Korean companies operating in Kyrgyzstan and work with the Korean Embassy, relevant ministries, and related organizations to support the stable progress of their business projects and help them achieve concrete results. “Bilateral trade between Korea and Kyrgyzstan is expanding rapidly, and Kyrgyzstan is an important economic cooperation partner for Korea in Central Asia,” Director General Bae said. “Bui date2026-06-12

Korea and Italy Build on Improved Trade Environment to Advance High-Tech Supply Chain Synergies

During President Lee Jae Myung’s visit to Italy, Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Adolfo Urso, Italy’s Minister of Enterprises and Made in Italy, in Rome on June 11, 2026. The two ministers exchanged views on shared priorities, including EU economic legislation, a more stable trade environment for businesses, and cooperation in high-tech industries. The two sides first discussed recent developments in EU legislation on key economic issues and cooperation to provide businesses with more predictable trade conditions. Korea expressed appreciation that Italy moved swiftly to remove the “Made in EU” regional restriction from the hyper-depreciation regime introduced by emergency decree on March 28, 2026, giving the change final legal effect through parliamentary approval on May 22, 2026, and helping reduce uncertainty in bilateral trade conditions. The two ministers agreed that high-quality Korean machinery and equipment could help Italian small and medium-sized manufacturers improve productivity and compete globally, while creating a basis for closer cooperation across future strategic industries. They also agreed to continue intergovernmental cooperation during future EU legislative processes on economic issues, helping strengthen industrial ecosystems in both countries and improve predictability for businesses. On high-tech industries, the two sides agreed that cooperation centered on AI and semiconductors could combine their complementary strengths and strengthen both countries’ global competitiveness. Korea presented its Manufacturing AI Transformation (M.AX) policy and highlighted potential synergies between Korea’s AI-driven manufacturing transformation and Italy’s traditional manufacturing base. Italy outlined its strengths in semiconductor materials, equipment, and advanced packaging, and expressed strong interest in working with Korea’s world-class memory and foundry technologies. The two sides also agreed to continue reviewing cooperation on stable supply chains for critical minerals essential to electric vehicles, batteries, and other industries. The meeting served as an opportunity for the two countries to share tangible outcomes from efforts to improve the trade environment and to jointly address shared industrial priorities, including AI transformation in manufacturing and semiconductor supply chains. The two sides will closely review progress in implementing the agreed items and continue to strengthen their strategic partnership in industry and trade. Minister Kim said, “The significance of this discussion lies in its move beyond coordination on individual trade issues to broaden the scope of bilateral industrial cooperation. At a time of major shifts in the global industrial paradigm, Korea and Italy explored a shared future vision and a joint industrial strategy.” He added, He added, “We will continue to develop a partnership built around improving the EU trade environment and expanding cooperation in high-tech industries, and translate that partnership into tangible synergies on the global stage.” date2026-06-12

Korea and EU Expand Economic Cooperation in Advanced Technologies, Digital Trade, and Supply Chains

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that it held an investment declaration ceremony and a roundtable with European investors in Belgium on June 10, 2026, during President Lee Jae Myung’s visit to the European Union (EU). Korea and the EU also formally signed the Korea–EU Digital Trade Agreement (DTA), marking key outcomes in trade, investment, and digital cooperation. 1. European High-Tech Firms Report USD 165 Million in FDI At the investment declaration ceremony co-hosted by MOTIR and the Korea Trade-Investment Promotion Agency (KOTRA), four European high-tech companies reported a combined USD 165 million in foreign direct investment in Korea. Germany’s Orafol plans to expand the factory of a Korean reflective film company it acquired in 2025 and use Korea as an export hub serving Asia-Pacific demand by combining its technology with the Korean company’s global network, which spans more than 80 countries. France’s Quandela plans to expand R&D with Korean companies, universities, and research institutes and build Korea into an R&D and manufacturing base for photonic quantum computing. Dutch company Prodrive Technologies will establish its first Korean subsidiary to import and sell equipment modules for advanced industries, including semiconductors, and may later consider establishing a manufacturing base and R&D center as the business develops. Sweden’s Mycronic plans to use Korea as a research base to advance display and semiconductor equipment technologies, including laser systems used to produce photomasks. The investor roundtable that followed brought together Minister JK (Jung-Kwan) Kim; Kang Kyung Sung, President of KOTRA; Philippe van Hoof, Chairperson of the European Chamber of Commerce in Korea (ECCK); and representatives from six European companies and research institutes in areas including semiconductor materials, parts, and equipment, and quantum computing. Participants shared the view that investment cooperation among trusted partners, including Korea and Europe, has become more important as geopolitical tensions, growing protectionism, and rapid technological change make it difficult for any one country to respond alone. They also shared their business operations and future investment plans in Korea. “Korea’s competitive supply chains in advanced industries and its AI ecosystem will continue to create new opportunities for cooperation with European companies,” Minister JK Kim said. “The government will support investment in Korea by expanding foreign investment incentives, improving the regulatory environment, and addressing difficulties that arise during the investment process.” 2. Formal Signing of the Korea–EU Digital Trade Agreement Minister for Trade Yeo Han-koo of MOTIR and Maroš Šefčovič, European Commissioner for Trade and Economic Security, formally signed the Korea–EU DTA in the presence of the leaders of Korea and the EU. The agreement is Korea’s second bilateral digital trade agreement after Singapore and the first it has concluded with one of Korea’s top five trading partners. Building on the Korea–EU Free Trade Agreement, which entered into force in 2011, the DTA extends the two sides’ trade relationship into the digital field and provides an institutional basis for responding to the changing digital trade environment. The EU, with its 27 member states and growing e-commerce market, has been seen as a promising next-generation export market for Korean companies, led by K-content. The standalone agreement consists of 42 articles. The two sides launched negotiations in October 2023, held seven formal rounds, and announced the conclusion of negotiations in March 2025. The Korea–EU DTA is expected not only to further solidify digital trade cooperation between the two sides, but also to sign date2026-06-12

Meeting with Morocco’s Minister of Industry and Trade

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Ryad Mezzour, Morocco’s Minister of Industry and Trade, in Morocco on June 12, 2026. The two ministers discussed ways to expand trade and investment between Korea and Morocco and strengthen bilateral economic cooperation. Minister Yeo said Korea will strengthen government-to-government cooperation with Morocco to support stable trade and investment by Korean companies. date2026-06-12

European Investor Roundtable

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired a roundtable with European investors in Brussels, Belgium, on June 10, 2026, during President Lee Jae Myung’s visit to the European Union (EU). The roundtable brought together Kang Kyung-sung, President of the Korea Trade-Investment Promotion Agency (KOTRA); Philippe van Hoof, Chairperson of the European Chamber of Commerce in Korea (ECCK); investment support organizations; and representatives from European companies and research institutes working in materials, parts, and equipment for advanced industries, quantum computing, and other promising fields. Participants discussed future investment cooperation between Korea and Europe. Minister Kim said Korea’s advanced industry supply chains and AI ecosystem will continue to create new opportunities for European companies, and that the government will support investment by improving incentives, regulations, and the investment process. date2026-06-11

Investment Declaration Ceremony with European High-Tech Companies

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) received investment declarations from four European high-tech companies in Brussels, Belgium, on June 10, 2026, during President Lee Jae Myung’s visit to the European Union (EU). The four companies are Germany’s advanced materials company Orafol, France’s Quandela, Dutch company Prodrive Technologies, and Sweden’s Mycronic. Together, they reported USD 165 million in foreign direct investment in Korea across advanced materials, photonic quantum computing, advanced industry equipment modules, and display and semiconductor equipment technologies. Minister Kim said Korea’s advanced industry supply chains and AI ecosystem will continue to create new opportunities for cooperation with European companies, and that the government will support foreign investment by improving incentives, regulations, and the investment process. date2026-06-11

MOTIR Shapes Blueprint for 5+3 Regional Growth Engines

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the Growth Engine Strategy Forum for the Five Mega-Regions and Three Special Self-Governing Provinces (5+3) framework on June 10, 2026, at the Artificial Intelligence Industry Cluster Agency (AICA) in Gwangju. Chaired by Vice Minister Moon Shin-hak, the forum brought together about 100 regional industry stakeholders from Gwangju and Jeonnam, including local government officials and representatives of anchor companies and regional innovation institutions. The forum gathered views on industries proposed by local governments in each region as regional growth engines under the framework. Participants discussed each region’s industrial conditions and growth potential and explored development approaches tailored to regional strengths. Beginning with the forum for the Southwest region, MOTIR plans to hold similar forums across all regions covered by the framework, excluding the Seoul metropolitan area. Under the framework, the regional growth engine initiative positions each growth engine as a core industry for its region and supports balanced national growth through a more polycentric industrial structure. MOTIR plans to work closely with local governments to facilitate large-scale investment by anchor companies. The government also plans to draw on policy tools across ministries and provide substantial incentives for major regional investment projects through a seven-part support package covering fiscal support, financing, workforce development, infrastructure, and regulatory exemptions. At the forum, experts from the Korea Institute for Industrial Economics & Trade (KIET) presented an analysis of the industries that local governments submitted as candidate growth engines. Participants examined each industry in detail, including regional industrial conditions, corporate investment plans, future growth potential, and alignment with Korea’s national industrial strategy. The Gwangju Institute also presented its assessment of the Southwest region’s industrial landscape and development priorities, followed by a discussion on industrial development priorities for Gwangju and Jeonnam from a regional expert perspective. In a panel discussion moderated by Professor Na Ju-mong, President of the Korean Association of Regional Policy (KARP), panelists from anchor companies, local governments, and regional innovation institutions discussed proposals for developing Gwangju and Jeonnam’s growth engine industries. Kim Hee-sam, Vice President at Kia Corporation, said, “Kia plans to continue investing in its Gwangju Plant as part of the regional growth engine initiative. Policy and financial support from the government will be needed to strengthen the automotive industry ecosystem in the Southwest region.” Kim Young-moon, Gwangju’s Deputy Mayor for Culture and Economy, said, “Gwangju will continue strengthening communication and cooperation between the central and local governments to support the success of these growth engines.” In his opening remarks, Vice Minister Moon said, “This forum will mark the first step in reshaping the geography of Korea’s industrial growth around a polycentric structure built on the Five Mega-Regions and Three Special Self-Governing Provinces.” He added, “MOTIR will identify and develop high-potential growth engines that build on each region’s strengths. We will use every available policy tool to help each region build a self-sustaining, competitive industrial ecosystem.” After consulting regions under the framework, MOTIR plans to select growth engines for each region and announce a seven-part policy support package to develop them into globally competitive industries. The package will cover fiscal support, tax incentives, financing, workforce development, technology support, infrastructure, and regulatory exemptions. date2026-06-10

Growth Engine Strategy Forum for Five Mega-Regions and Three Special Self-Governing Provinces

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR) attended the Growth Engine Strategy Forum for the Five Mega-Regions and Three Special Self-Governing Provinces on June 10, 2026, at the Artificial Intelligence Industry Cluster Agency (AICA) in Gwangju. The forum brought together about 100 regional industry stakeholders from Gwangju and Jeonnam, including representatives from the Korea Institute for Advancement of Technology (KIAT), the Korea Institute for Industrial Economics & Trade (KIET), local governments, regional anchor companies, and regional innovation institutions. Participants gathered views on regional growth engines and discussed development approaches tailored to each region’s strengths. Vice Minister Moon said MOTIR will identify and develop high-potential growth engines that build on each region’s strengths and use all available policy tools to help each region build a self-sustaining, competitive industrial ecosystem. date2026-06-10

MOTIR Reviews Economic Cooperation Projects with Uzbekistan Ahead of 1st Korea-Central Asia Summit 2026

Bae Jun-hyoung, Director General of MOTIR’s Bureau of International Trade Relations, visited Tashkent, Uzbekistan, and met with Uzbek government officials, including deputy ministers of the Ministry of Investment, Industry and Trade of Uzbekistan and the Chair of the Fund for Reconstruction and Development of the Republic of Uzbekistan (UFRD). He also held a roundtable with Korean companies operating in Uzbekistan. The visit took place ahead of the 1st Korea-Central Asia Summit, scheduled for Seoul in September 2026, to review key bilateral economic cooperation projects and discuss ways to address business concerns raised by Korean companies operating in Uzbekistan. During the meeting, Director General Bae discussed expanding cooperation with his Uzbek counterparts in critical minerals, AI and digital manufacturing, and industrial complexes. He also requested their continued attention and cooperation to help ensure that bilateral supply chain and advanced industry projects move forward smoothly. Director General Bae also held a luncheon roundtable with Korean companies operating in Uzbekistan. He heard their concerns over investment, permits and approvals, and infrastructure, and exchanged views on ways to help them maintain stable operations and improve the investment environment. date2026-06-09

Meeting with Kazakhstan’s Minister of Energy

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Yerlan Akkenzhenov, Kazakhstan’s Minister of Energy, at the Ministry of Energy in Astana, Kazakhstan, on June 8, 2026, on the sidelines of the 11th Korea-Kazakhstan Joint Committee on Trade, Economic, Scientific and Technical Cooperation. The two sides discussed stabilizing crude oil supply and cooperation on critical minerals and plant projects. The meeting followed the Joint Committee, where Korea and Kazakhstan discussed cooperation across trade and investment, energy and resources, construction, digital affairs and intellectual property, and the environment. date2026-06-09