Ministry of Trade Industry and Resources

April 2026 Exports Reach $85.9 Billion, Surpassing $80 Billion for Second Consecutive Month

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that in April 2026, Korea’s exports rose 48.0 percent year-on-year to USD 85.9 billion, while imports increased 16.7 percent to $62.1 billion, resulting in a $23.8 billion surplus. Exports in April rose 48.0 percent to $85.9 billion, topping $80.0 billion for the second consecutive month. Average daily exports, adjusted for working days, increased 48.0 percent to $3.6 billion, exceeding $3.0 billion for the third consecutive month. By product, exports increased in eight of Korea’s 15 key export items. Semiconductor exports rose to $31.9 billion (up 173.5 percent), as continued demand from AI servers pushed up fixed memory prices. The sector topped $30.0 billion for the second straight month and set a new April record, its 13th consecutive same-month high. Automobile exports fell to $6.2 billion (down 5.5 percent), as logistics disruptions linked to the conflict in the Middle East continued and Korean automakers expanded U.S. production in response to U.S. tariff measures. Petroleum product exports rose to $5.1 billion (up 39.9 percent), as higher oil prices lifted export unit prices despite a 36.0 percent decline in export volumes. Gasoline, diesel, and kerosene export volumes fell by approximately 43.0 percent, 23.2 percent, and 99.9 percent, respectively. Petrochemical exports increased to $4.1 billion (up 7.8 percent), as export unit prices rose only modestly due to the time lag before higher oil prices are reflected in product prices. Export volumes fell 20.9 percent amid increased domestic supply. Computers rose to $4.1 billion (up 515.8 percent), setting a new monthly record for the second consecutive month, and wireless communication devices increased to $1.6 billion (up 11.6 percent). Among items outside the 15 key export categories, electrical equipment, cosmetics, and agricultural and fisheries products also reached record highs for April. By destination, exports increased in seven of Korea’s nine major markets. Exports to China rose 62.5 percent to $17.7 billion, extending their growth streak to six consecutive months, led by IT products including semiconductors, computers, and wireless communication devices. Exports to the United States rose to $16.3 billion (up 54.0 percent), as tariff-exempt items such as semiconductors and computers offset weaker exports of tariff-affected items, including automobiles, auto parts, and general machinery. Exports to ASEAN increased to $15.4 billion (up 64.0 percent), while exports to the EU rose to $7.2 billion (up 8.5 percent), extending their growth streak to five consecutive months. By contrast, exports to the Middle East fell 25.1 percent to $1.3 billion amid logistics disruptions and uncertainty linked to the conflict. Imports rose 16.7 percent year-on-year to $62.1 billion. Energy imports increased 7.5 percent to $10.6 billion, while non-energy imports rose 18.8 percent to $51.5 billion. Crude oil imports rose 13.1 percent to $7.0 billion, as higher unit prices driven by the surge in oil prices more than offset lower import volumes caused by the conflict in the Middle East. Among non-energy imports, computers rose to $1.8 billion (up 35.6 percent) and semiconductor equipment to $2.5 billion (up 59.9 percent). The trade surplus in April reached $23.8 billion, up $19.0 billion from April 2025, marking the largest April surplus on record and extending Korea’s surplus streak to 15 consecutive months since February 2025. Minister JK (Jung-Kwan) Kim stated, “This two-month milestone, achieved despite the conflict in the Middle East continuing for more than two months, was made possible by Korean companies’ proactive efforts to secure supply chains amid expanding global AI investment and higher unit prices for petroleum products driven by rising oil prices.” He added that the government will minimize the burden on exporters throug date2026-05-04

Korea and Pakistan to Hold First Official Round of CEPA Negotiations

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will hold the first official round of negotiations for the Korea–Pakistan Comprehensive Economic Partnership Agreement (CEPA) by videoconference from May 4 to 7, 2026. Approximately 50 negotiators from both countries will take part, with the Korean delegation led by Kim Jang-hee, acting Director General for Trade Agreement Negotiations, and the Pakistani delegation by Nasir Hamid, Additional Secretary for Trade Diplomacy at Pakistan’s Ministry of Commerce. Pakistan is a promising market, with a population of 240 million and a vast pool of young talent. The country is also working to expand its manufacturing base and develop infrastructure. Bilateral trade, however, remains limited relative to this potential, making the CEPA an important framework for expanding trade and investment between the two countries. Since the launch of Korea–Pakistan CEPA negotiations in January 2025, the two sides have agreed on negotiating procedures and prepared a draft text for the agreement. They also held preliminary negotiations via videoconference from April 20 to 23, 2026, covering areas such as goods, rules of origin, and the environment. At an April 30, 2026, meeting between Trade Minister Yeo Han-koo of MOTIR and Pakistan’s Federal Minister for Commerce Jam Kamal Khan, the two sides agreed on the need to accelerate the negotiations. Building on that understanding, the Korean government plans to use the first official round to confirm both sides’ interests and positions in four areas: economic cooperation, investment, intellectual property rights, and trade remedies. The round will also lay the groundwork for future negotiations. “This first official round marks the formal start of Korea–Pakistan CEPA negotiations,” acting Director General Kim said. “We will approach the negotiations constructively so that the CEPA with Pakistan can serve as a practical platform for cooperation that supports expanded trade and investment between the two countries and helps Korean companies enter Southwest Asian markets.” date2026-05-04

First Official Round of Korea–Pakistan CEPA Negotiations

Kim Jang-hee, acting Director General for Trade Agreement Negotiations at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the first official round of negotiations for the Korea–Pakistan Comprehensive Economic Partnership Agreement (CEPA) via videoconference on May 4, 2026. The meeting was joined by government negotiators from both countries, including Nasir Hamid, Additional Secretary for Trade Diplomacy at Pakistan’s Ministry of Commerce. The two sides held negotiations in seven areas, including goods, rules of origin, investment and intellectual property rights. “This first official round marks the formal start of Korea–Pakistan CEPA negotiations,” acting Director General Kim said. “We will engage constructively so that the CEPA can support expanded trade and investment and help Korean companies enter Southwest Asian markets.” date2026-05-04

Virtual Meeting with Pakistan’s Federal Minister for Commerce

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held a virtual meeting with Pakistan’s Federal Minister for Commerce Jam Kamal Khan at the Korea Chamber of Commerce and Industry in Seoul on April 30, 2026. The two sides exchanged views on ways to advance Korea–Pakistan Comprehensive Economic Partnership Agreement (CEPA) negotiations and expand bilateral trade and investment cooperation. “This first official round marks the formal start of Korea–Pakistan CEPA negotiations,” acting Director General Kim Jang-hee said. “We will approach the negotiations constructively so that the CEPA can support expanded trade and investment and help Korean companies enter Southwest Asian markets.” date2026-05-04

Trade Minister Yeo Meets Mexican Ambassador to Korea

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Mexican Ambassador to Korea Carlos Peñafiel Soto at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, on April 30, 2026. The two sides discussed ways to strengthen economic and trade cooperation between Korea and Mexico. “Mexico is a key gateway for Korean companies to enter Latin American markets and join USMCA supply chains,” Trade Minister Yeo said. “MOTIR will work closely with Mexico to deliver practical outcomes that help Korean companies expand exports and maintain stable local operations.” date2026-05-04

Korea and Mexico Discuss Accelerating Economic and Trade Cooperation

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Carlos Peñafiel Soto, Ambassador of Mexico to Korea, on April 30, 2026, to discuss economic and trade cooperation between Korea and Mexico. The meeting was held amid growing uncertainty in the global trade environment as protectionist measures spread. Discussions focused on expanding economic cooperation with Mexico, Korea’s largest trading partner in Latin America, and addressing business challenges facing Korean companies. Both sides agreed that a Korea–Mexico FTA would help expand bilateral trade and investment. They also agreed to continue high-level consultations to resume the negotiations, which have been suspended since 2022, as soon as possible. Trade Minister Yeo raised concerns from Korean industry over key trade issues, including Mexico’s tariff increases, which have been in effect since January 2026, and the July 2026 review of the United States–Mexico–Canada Agreement (USMCA). He requested Mexico’s close attention so that Korean companies operating in the country can continue to do business in a stable environment. “Mexico is a key gateway for Korean companies to enter Latin American markets and join USMCA supply chains,” Trade Minister Yeo said. “We will continue working closely with Mexico to deliver practical outcomes that help Korean companies expand exports and maintain stable local operations.” date2026-04-30

Meeting with Qatar’s Minister of State for Foreign Trade Affairs

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with H.E. Dr. Ahmed bin Mohammed Al-Sayed, Qatar’s Minister of State for Foreign Trade Affairs, at the Korea Chamber of Commerce and Industry in Seoul on April 29, 2026.  The two sides discussed ways to expand Korea–Qatar investment cooperation in advanced industries, including semiconductors and biotechnology. “This meeting is an important step toward translating Korea and Qatar’s partnership into concrete investment cooperation in advanced industries,” Trade Minister Yeo said. He added that Korea will continue to strengthen energy security while expanding economic cooperation with Qatar into future industries, including manufacturing AI and biotechnology. date2026-04-30

Meeting with Australian Foreign Minister

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Penny Wong, Australia’s Minister for Foreign Affairs, in the Government Complex Seoul on April 30, 2026. The two ministers discussed recent developments in the Middle East and ways to cooperate on energy supply chains and critical minerals supply chains. Minister Kim noted that Australia’s condensate and other crude oil supplies are essential to maintaining Korea’s petrochemical operations amid Middle East-related supply uncertainty. He also asked for Australia’s cooperation to ensure uninterrupted LNG exports to Korea while maintaining stable domestic natural gas supplies in Australia. date2026-04-30

Korea and Australia Strengthen Energy and Resource Security Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Penny Wong, Australia’s Minister for Foreign Affairs, in Seoul on April 30, 2026, during her visit to Korea. The two ministers discussed energy and resource security cooperation in response to global supply chain risks heightened by the conflict in the Middle East. The two ministers reaffirmed the close, complementary energy and resources partnership between Korea and Australia. Australia is Korea’s largest LNG supplier, accounting for 31.4 percent of Korea’s LNG imports in 2025, and a major supplier of condensate, which is essential for producing naphtha, a basic feedstock for Korea’s petrochemical industry. Korea, in turn, is Australia’s largest supplier of petroleum products, with a 29.1 percent market share. These stable two-way flows have underpinned both countries’ complementary economic relationship. On this strong foundation of trust, Korea and Australia issued the Joint Statement on Energy Resource Security, prepared with the participation of Korea’s five relevant ministries, including MOTIR. The statement carries particular significance as it publicly affirms the two countries’ commitment to strengthening supply chain resilience at a time of heightened uncertainty in global energy markets following the outbreak of the conflict in the Middle East. Minister Kim noted that Australian condensate and crude oil are essential to maintaining Korea’s petrochemical operations amid Middle East-related supply uncertainty. He also described Australia as “a highly reliable partner.” Minister Kim asked the Australian side to help ensure that LNG exports to Korea continue without disruption while Australia maintains stable domestic natural gas supplies. Minister Kim also reaffirmed the importance of cooperation with Australia on critical minerals essential to future advanced industries, in the context of continued supply chain uncertainty. Australia is rich in resources and is a major investment destination for Korean companies. The two sides will continue discussions on Australia’s planned Critical Minerals Strategic Reserve so that it can support a stable production base for supplier countries while serving as a reliable supply source for consumer countries. MOTIR will use high-level channels such as the Korea-Australia Joint Committee on Energy and Mineral Resources (JCEM) to help translate the joint statement into tangible business outcomes. Through these channels, MOTIR will work to implement key areas of cooperation covering crude oil, LNG, condensate and critical minerals. date2026-04-30

Visit to Hyundai Motor Group Innovation Center Singapore

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) visited Hyundai Motor Group Innovation Center Singapore (HMGICS) on April 28, 2026, together with Rep. Lee Un-ju, chair of the Korea–Singapore Parliamentary Friendship Association.  The delegation reviewed manufacturing AI and logistics automation technologies and toured HMGICS facilities, including automated production lines and a digital command center. They also discussed implications for Korea’s M.AX initiative, which aims to accelerate AI transformation in manufacturing. date2026-04-29