Ministry of Trade Industry and Resources

Trade Minister Seeks EU Cooperation on Steel TRQs, Steps Up Outreach for Korea–Mexico FTA

Yeo Han-koo, Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Maroš Šefčovič, European Commissioner for Trade and Economic Security, in Brussels, Belgium, on May 11, 2026, and conveyed Korean industry’s concerns over the EU’s planned steel import restrictions. As the EU prepares to implement a new steel measure in July 2026 to address overcapacity, including higher duties and tariff-rate quotas (TRQs) for 30 steel product categories, Minister Yeo requested the EU to take a careful, cooperative approach so Korean steel products are not subject to undue restrictions. Minister Yeo stressed that the EU is Korea’s second-largest steel export market and expressed serious concern that the measure could affect not only the steel industry, but also supply chains and stable production at Korean companies in Europe that manufacture finished goods, including automobiles and home appliances. The EU side agreed that steel is strategically important to both Korea and the EU, and said the two sides would continue to seek mutually beneficial solutions through high-level and working-level consultations. Ahead of the meeting, Minister Yeo met with Korean companies operating in the EU on May 10, 2026, to review business conditions and on-the-ground challenges in key industries, including steel, automobiles, and batteries. Companies said the EU’s tighter industrial and environmental regulations, including the Industrial Accelerator Act (IAA), the Carbon Border Adjustment Mechanism (CBAM), and steel import restrictions, are increasing local business burdens. They highlighted the need for government negotiations and support, expressing particular concern that planned steel import restrictions could extend the burden beyond steelmakers to downstream industries, including automobiles and home appliances. Korean battery companies operating in Poland said the EU’s decision in December 2025 to make the battery industry eligible for support as an “energy-intensive industry,” together with Poland’s follow-up legislative work, is expected to help ease electricity costs and reduce manufacturing costs. The companies said the outcome reflected close consultations among the Korean government, the European Commission and the Polish government, and requested continued government attention and support on protectionist measures, including tighter EU steel import restrictions. This outcome is a result of the government's sustained trade outreach to the EU and Poland. Through various consultation channels — including meetings with the EU Trade Commissioner and senior officials at Poland's Ministry of Economic Development and Technology — the Korean government had repeatedly called for the inclusion of the battery industry in the EU's list of supported "energy-intensive industries." Minister Yeo said, “The government will use its full trade policy capacity to help Korean companies operating overseas invest with stability and remain competitive.” 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. Minister Discusses Mexico Tariff Issues, USMCA Review and Korea–Mexico FTA Minister Yeo visited Mexico from May 12 to 13, 2026, and met with government, parliamentary, and business leaders to build support for a Korea–Mexico FTA and create momentum for negotiations. Minister Yeo first met with Marcelo Ebrard, Mexico’s Secretary of Economy, and raised concerns over difficulties faced by Korean companies with manufacturing operations in Mexico for exports to the United States and Latin American markets, including Brazil, following Mexico’s tariff hikes on non-FTA partners. He date2026-05-14

Korea and UAE Hold Forum on Investment in AI Infrastructure and Semiconductors

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), the Ministry of Science and ICT (MSIT, Deputy Prime Minister and Minister Bae Kyung-hoon) and the National Artificial Intelligence (AI) Strategy Committee held the Korea-UAE Investment Forum on AI Infrastructure and Semiconductors in Seoul on May 13, 2026. Following Korea’s state visit to the UAE in November 2025, the two countries formed a public-private working group and have since discussed cooperation across the AI ecosystem, including infrastructure, models and services. The forum was held to build on those discussions and translate them into practical outcomes. A 25-member UAE delegation, led by H.E. Mohamed Abdul Rahman AlHawi, Undersecretary of the UAE Ministry of Investment, visited Korea for the forum. The delegation included senior representatives from Core42, MGX, the Advanced Technology Research Council (ATRC), the Technology Innovation Institute (TII), Mubadala and the Abu Dhabi Investment Authority (ADIA). H.E. Abdulla Saif Al Nuaimi, UAE Ambassador to Korea, also attended. At a high-level meeting, senior officials from both sides recognized the need for strategic cooperation to develop the AI ecosystem as global competition in AI continues to evolve rapidly. A high-level panel discussion then covered areas where the two countries can combine their strengths, including low-power, high-efficiency AI infrastructure using AI semiconductors such as neural processing units (NPUs), as well as specialized services and demonstrations based on local-language AI models. In the afternoon session, Korean companies introduced their technologies and business models through investment presentations on AI semiconductors, infrastructure and AI technologies. These were followed by business briefings, matching sessions and networking, giving companies from both countries an opportunity to discuss concrete investment cooperation. The Korean government plans to continue follow-up discussions so that the forum leads beyond a one-off exchange to tangible results, including complementary technology development and joint entry into overseas markets. “Competitiveness in the AI era depends not only on building AI infrastructure, but also on the ability to apply it in industrial settings,” said Kim Sung-youl, Deputy Minister for Industry and Growth at MOTIR. “The UAE brings strategic investment capacity and experience in large-scale projects, while Korea brings strengths in AI semiconductors, data centers and manufacturing. We will help the two sides identify practical opportunities in AI infrastructure and industrial AI, and support efforts to expand this cooperation into global markets.” “The UAE and the Republic of Korea have built a forward-looking partnership around a shared vision for future industries,” said H.E. Mohamed Abdul Rahman AlHawi, Undersecretary of the UAE Ministry of Investment. “That cooperation has gained strong momentum since the UAE announced its USD 30 billion investment commitment to Korea in 2023.” He added, “Major energy and AI projects, including Korea’s role in the Barakah Nuclear Energy Plant and Korean participation in the Stargate AI Data Center Campus project in the UAE, already show the strategic value of the partnership. This visit is expected to help extend cooperation across the AI value chain.” date2026-05-13

M.AX to Drive Smarter, Safer Manufacturing at Ulsan-Mipo Industrial Complex

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held a meeting of the Ulsan M.AX Innovation Network in Industrial Complexes (MINI) Alliance at the Ulsan Information Industry Promotion Agency (UIPA) on May 13, 2026, to discuss the M.AX strategy for Ulsan’s petrochemical sector and ways to expand it across the region. The meeting brought together manufacturing companies, AI firms, universities, research institutes and local governments.  The meeting marked the first time Minister Kim chaired a MINI Alliance meeting since MOTIR launched the Industrial Complex AX Subcommittee under the M.AX Alliance and 10 MINI Alliances in February 2026. The Ulsan-Mipo National Industrial Complex is Korea’s largest hub for automobiles, shipbuilding and petrochemicals, and has symbolized the growth of Korea’s key industries since the 1960s. It is also one of Korea’s leading petrochemical clusters, representing 48 percent of companies, 45 percent of production and 43 percent of exports across the country’s three main petrochemical complexes—Ulsan, Yeosu and Daesan—and underpinned by more than 60 years of process operation expertise and industrial data. Ahead of the meeting, Minister Kim visited SK Energy’s plant, a lead site where petrochemical AX is being demonstrated in an industrial complex setting. There, he saw firsthand how AI models could support process, equipment and safety management. SK Energy is applying AI across its operations, including an AI virtual sensor that predicts diesel quality indicators at its Fluid Catalytic Cracking (FCC) unit in real time, a predictive diagnosis algorithm that monitors vibration and temperature in rotating equipment, and on-site monitoring based on AI-powered video analysis. The Ulsan MINI Alliance is focusing on production process optimization, equipment predictive maintenance and safety management, areas where AI demand is strong across the petrochemical sector. AI models validated in Ulsan are expected to spread quickly to other industrial complexes and similar sectors nationwide. MOTIR will support the early development of leading M.AX models for petrochemicals at the Ulsan-Mipo National Industrial Complex and turn them into scalable examples. The effort is expected to strengthen the competitiveness of Korea’s petrochemical industry against immediate challenges such as global oversupply and the recent situation in the Middle East. After the site visit, Lee Dong-gu, Chair of the Ulsan MINI Alliance, and Park Min-won, Chair of the Industrial Complex AX Subcommittee, gave presentations before a participant discussion. Participants supported the government’s industrial complex AX strategy and called for faster rollout, balanced data use and security, regulatory sandboxes and specialized workforce training. “Ulsan is a core manufacturing hub for Korea, with extensive industrial data and manufacturing capabilities,” Minister Kim said. “Through the Ulsan MINI Alliance, we will deploy AI models that optimize production, improve equipment integrity and prevent accidents, creating manufacturing sites that are more precise, faster and safer. We will make Ulsan a regional base for accelerating M.AX.” date2026-05-13

Korea-UAE Investment Forum on AI Infrastructure and Semiconductors

Kim Sung-youl, Deputy Minister for Industry and Growth at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the Korea-UAE Investment Forum on AI Infrastructure and Semiconductors in Seoul on May 13, 2026. The forum brought together Ryu Je-myung, Second Vice Minister of Science and ICT at the Ministry of Science and ICT (MSIT); H.E. Mohamed Abdul Rahman AlHawi, Undersecretary of the UAE Ministry of Investment; and officials and business representatives from Korea and the UAE. “Competitiveness in the AI era depends on both AI infrastructure and the ability to apply it in industry,” Deputy Minister Kim said. “By combining the UAE’s investment capacity and large-scale project experience with Korea’s strengths in AI semiconductors, data centers and manufacturing, we will help identify practical opportunities in AI infrastructure and industrial AI and support efforts to expand this cooperation into global markets.” date2026-05-13

Ulsan-Mipo MINI Alliance Meeting

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired the Ulsan-Mipo MINI Alliance Meeting at the Ulsan Information Industry Promotion Agency (UIPA) on May 13, 2026. The meeting was attended by Lee Dong-gu, Chair of the Ulsan MINI Alliance; Park Min-won, Chair of the Industrial Complex AX Subcommittee; and participants from manufacturing companies, AI firms, universities, research institutes and local governments. Minister Kim delivered opening remarks and discussed Ulsan’s petrochemical M.AX strategy and regional rollout plans. “Through the Ulsan MINI Alliance, we will deploy AI models to optimize production, improve equipment integrity and prevent accidents, making manufacturing sites more precise, faster and safer,” Minister Kim said. date2026-05-13

Minister JK Kim Visits SK Energy’s Ulsan Plant

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited SK Energy’s Ulsan plant on May 13, 2026. The plant is a lead site for demonstrating petrochemical AX in an industrial complex setting. During the visit, Minister Kim heard from company officials about SK Energy’s operations and on-site challenges, and reviewed firsthand how AI models could support process, equipment and safety management. SK Energy is developing AI applications including real-time diesel quality prediction at its Fluid Catalytic Cracking (FCC) unit, predictive diagnostics for rotating equipment, and AI-powered video monitoring. date2026-05-13

MOTIR Launches K-Export Star 500 to Develop 500 Key Exporters

The Korean government will run a customized export support program from 2026 through 2030 to develop 500 key exporters with annual exports of at least USD 10 million. Selected companies will receive package support in marketing, finance, and certification from five export support agencies, with assistance of up to KRW 560 million per company for up to three years. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held a launch ceremony and business roundtable for the K-Export Star 500 program in Seoul on May 12, 2026. The event brought together 100 promising companies selected for this year’s program and relevant organizations. MOTIR established K-Export Star 500 this year to narrow export disparities by helping high-potential SMEs and middle market enterprises grow into “export stars” with annual exports of at least USD 10 million. Applications opened in January 2026, and 100 promising SMEs and middle market enterprises in consumer goods, mainstay industries and advanced industries were selected for support this year. The event consisted of a business roundtable to gather feedback from exporters, followed by a launch ceremony. The roundtable was held at JUNGSAEMMOOL Beauty’s Seongsu flagship store, where seven representative companies across sectors shared practical challenges in entering overseas markets, including obtaining overseas certification and conducting joint local marketing. The Korean government will work with five export support agencies—the Korea Trade-Investment Promotion Agency (KOTRA), Korea Trade Insurance Corporation (K-SURE), Korea Conformity Laboratories (KCL), Korea Institute for Advancement of Technology (KIAT) and Korea Planning & Evaluation Institute of Industrial Technology (KEIT)—to address companies’ export challenges and strengthen customized support throughout the export process. At the ceremony, the K-Export One Team digital agreement was concluded following congratulatory remarks by Minister JK Kim. The agreement launches the Export Star Makers framework, enabling participating organizations to work beyond institutional boundaries and provide integrated support in marketing, finance, certification, technology and R&D based on company demand. “Amid growing external uncertainty, it is critical to build a broader base of export stars that each generate at least USD 10 million in annual exports and form the backbone of Korea’s exports,” Minister Kim said. “The government and the five export support agencies will work as one team to build an export support system that responds quickly to company needs.” date2026-05-12

K-Export Star 500 Sector Roundtable

Minister JK Kim of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) chaired the K-Export Star 500 sector roundtable at JUNGSAEMMOOL Beauty’s Seongsu flagship store in Seoul on May 12, 2026.  The roundtable was attended by officials from K-Export Star 500 companies and export support agencies, including Kang Kyung-sung, CEO & President of the Korea Trade-Investment Promotion Agency (KOTRA); Jeon Yoon-jong, President of the Korea Institute for Advancement of Technology (KIAT); Cheon Young-ghil, President of Korea Conformity Laboratories (KCL); Yoo Jae-woong, Vice President of JUNGSAEMMOOL Beauty; Kim Seok-jin, CEO of Cha Meditech Co., Ltd.; and Kang Jun-bae, CEO of Kuna NT. After delivering opening remarks, Minister Kim discussed challenges companies face in entering overseas markets, including obtaining overseas certification and holding joint local pop-up events, and toured the flagship store. date2026-05-12

K-Export Star 500 Launch Ceremony

Minister JK Kim of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the K-Export Star 500 launch ceremony in Seoul on May 12, 2026. At the ceremony, Minister Kim delivered congratulatory remarks and took part in the K-Export Support Team digital agreement declaration. The ceremony was attended by representatives and officials from the 100 companies selected for K-Export Star 500, including JUNGSAEMMOOL Beauty, CHA Meditech and KunaNT, as well as heads of export support agencies, including the Korea Trade-Investment Promotion Agency (KOTRA), Korea Institute for Advancement of Technology (KIAT) and Korea Conformity Laboratories (KCL). Minister Kim said the government and five export support agencies will work as one team to build an export support system that responds quickly to company needs and helps more Korean firms grow into export stars with annual exports of at least USD 10 million. date2026-05-12

MOTIR Holds Expert Meeting on Economic Cooperation with India, One of the World’s Leading Economies

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) held an expert meeting on May 11, 2026, to discuss ways to expand Korea-India economic cooperation. The meeting reviewed follow-up steps for the economic outcomes of President Lee Jae Myung’s state visit to India from April 19 to 21, 2026, and explored specific policy tasks to further develop bilateral economic cooperation. At the meeting, Minister Kim said, “At the summit, the two countries agreed to establish the Korea-India Industrial Cooperation Committee, their first ministerial-level platform for industry and resource cooperation. They also signed a series of investment and cooperation MOUs in areas with strong cooperation demand, including shipbuilding and steel.” Minister Kim noted, however, that the current level of Korea-India economic and industrial cooperation has yet to match the two countries’ potential and expectations. He requested practical policy suggestions from the experts based on their field experience and research. The meeting brought together experts from major economic and research institutions, including the Korea Institute for International Economic Policy (KIEP), the Korea Institute for Industrial Economics and Trade (KIET), the Korea Trade-Investment Promotion Agency (KOTRA), the Korea International Trade Association (KITA) and the Korea Industrial Complex Corporation (KICOX). The experts held in-depth discussions on practical and concrete agenda items, including ways to develop a dedicated industrial complex for Korean companies in India; other countries’ economic cooperation policies toward India; a structural analysis of India’s growing trade deficit with Korea and possible response options; and sector-specific bilateral cooperation in promising industries. Experts noted that India, with a population of about 1.43 billion and GDP exceeding USD 4 trillion, is emerging as a key production base and promising market amid the realignment of global supply chains. While large companies have made inroads into the Indian market, infrastructure and regulatory complexities can present challenges for small and medium-sized enterprises. The experts therefore stressed the need for a dedicated industrial complex for Korean companies in India to ease infrastructure and permitting burdens and strengthen the benefits of business clustering. They also shared successful cases of other countries’ entry into India and stressed the need for a more structured market-entry strategy. Experts also analyzed that Korean companies’ supply chains in India are largely built around importing intermediate goods, processing them locally and selling them in the domestic market, a structure that has contributed to India’s trade deficit with Korea. They stressed the need to reshape these supply chains over the long term to build a more sustainable basis for bilateral cooperation. This would include developing India-based production sites in promising industries into global production and export hubs, while localizing intermediate goods production. MOTIR plans to incorporate the views raised at the meeting into its policies and work closely with relevant ministries and organizations to strengthen the implementation of Korea-India industrial cooperation and help translate the outcomes of the state visit into concrete follow-up measures. date2026-05-11