Ministry of Trade Industry and Resources

Government and Major Companies Launch K-New Deal Academy to Help Young Jobseekers Take the Next Step

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), the Ministry of Employment and Labor (MOEL, Minister Kim Young-hoon), and the Korea Research Institute for Vocational Education and Training (KRIVET, President Ko Hye-won), the program’s coordinating institution, will accept applications from Wednesday, April 22 to Friday, May 22, 2026, for operations support centers and participating companies for the K-New Deal Academy. The K-New Deal Academy, introduced through the supplementary budget, is designed to help young jobseekers rebuild confidence, strengthen their skills, and enter the labor market. Under the program, major companies and other employers favored by young jobseekers will design and offer company-specific vocational training and other programs. Participating companies must be large corporations or other leading companies in their industries or regions, with competitiveness, recognition, and the capacity to run programs for young jobseekers. Companies may apply on their own or as part of a consortium. They may structure academy programs around their strengths and may offer, in addition to job training, other programs that would benefit young jobseekers. In reviewing proposals, the government will place particular weight on whether the programs are built around company-specific courses that reflect each company’s job capabilities, infrastructure, and organizational culture. The government will fund academy operating costs and provide allowances to participating young jobseekers. It also plans to provide additional support for academies open in non-metropolitan areas to encourage more young jobseekers outside the capital region to take part. Operations support centers will assist companies in running the academies and promoting the program. Eligible organizations must have the capacity to manage government-funded projects, as well as sufficient understanding and experience in vocational skills development programs. Applicants seeking to serve as operations support centers must recruit participating companies in advance and apply jointly with them. Companies seeking to run an academy must submit an academy operating plan. Organizations or institutions seeking to serve as operations support centers must submit an application for designation, together with the program operating plans of the companies wishing to participate, by 5:00 p.m. on Friday, May 22, 2026, by email to KRIVET at kndacademy@krivet.re.kr. An information session on the program will be held in Seoul on Wednesday, April 29, 2026. The public notice and detailed materials for the session are available on the websites of MOEL (http://www.moel.go.kr) and KRIVET (http://www.krivet.re.kr). Lee Min-woo, Director General for Industrial Policy at MOTIR, said, “Through the K-New Deal Academy, young jobseekers will be able to build experience for future careers without losing momentum, while companies will also be able to strengthen the job skills of their prospective talent pool. We hope companies will take an active part in helping create a virtuous cycle in which industry and talent grow together.” Pyeon Do-in, Director General for Vocational Skills Policy at MOEL, said, “The K-New Deal Academy is a meaningful opportunity to put the know-how and infrastructure of major companies directly to work in helping young people build their capabilities. We hope many large companies will take part with a sense of social responsibility and help young people build their futures.” date2026-04-21

Korea and India Join Hands to Expand Cooperation in Advanced Industries

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) hosted the Korea–India Business Partnership on April 20, 2026, at Bharat Mandapam in New Delhi, on the occasion of President Lee Jae Myung’s state visit to India. President Lee delivered congratulatory remarks at the forum, which brought together leading business figures from both countries. The Korean side included around 250 executives, among them Lee Jae-yong, Executive Chairman of Samsung Electronics; Chung Eui-sun, Executive Chairman of the Hyundai Motor Group; Koo Kwang-mo, Chairman of LG; Chang In-hwa, CEO of POSCO HOLDINGS; and Chung Ki-sun, Chairman & CEO of HD Hyundai. The Indian side included around 350 business leaders, including Anant Goenka, President of the Federation of Indian Chambers of Commerce and Industry (FICCI); Vijay Sankar, Chairman of the Sanmar Group; Ravikant Ruia, Vice Chairman of the Essar Group; and Jayant Acharya, CEO of JSW Steel. The two governments were represented by Minister Kim of MOTIR and India’s Minister of Commerce and Industry Piyush Goyal. Companies from the two countries signed a total of 20 private-sector MOUs on the sidelines of the forum in sectors with strong demand for bilateral cooperation, including shipbuilding, green mobility, steel, energy and digital technology. In shipbuilding, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) signed an MOU with National Shipbuilding & Heavy Industries Park, Tamil Nadu (NSHIP, TN), and Sagarmala Finance Corp. Ltd. (SMFCL) to cooperate on key infrastructure and a joint venture for investment in a new shipyard in India. SMFCL is a non-banking financial company set up under India’s Ministry of Ports, Shipping and Waterways to support the shipbuilding sector. It plans to launch the Maritime Development Fund (MDF) by attracting outside investors. In green mobility, Hyundai Motor Company and TVS Motor Company signed an MOU to jointly develop eco-friendly three-wheeled electric vehicles. The two companies agreed to develop models tailored to the Indian market and work together to expand local adoption. In steel, POSCO HOLDINGS signed an MOU with JSW Group to form a joint venture for an integrated steel mill project in India with annual crude steel capacity of 6 million tons. In energy, GS Engineering & Construction signed an MOU with Ari Energy to repower aging wind farms in India by replacing old turbines with new, high-efficiency models. The projects are intended to increase power generation, efficiency and profitability. In digital technology, NAVER signed an MOU with Tata Consultancy Services (TCS) to expand digital transformation in the Indian market across AI, cloud and B2C services. The following day, MOTIR and the Korea Trade-Investment Promotion Agency (KOTRA, President Kang Kyung-sung) held another Korea–India Business Partnership event in New Delhi. The event brought together more than 40 Korean companies and over 100 Indian companies from manufacturing, Korean Wave-related industries and advanced sectors, and resulted in 14 deals worth about USD 48 million. The forum is expected to broaden and deepen industrial cooperation between Korea and India and help elevate the bilateral partnership to a new stage. Minister Kim said the government would provide full institutional support so that Korea–India economic cooperation can gain fresh momentum and create more business opportunities for companies in both countries. date2026-04-21

Korea and India Upgrade Cooperation in Industry, Energy and Resources

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that, on the occasion of the Korea–India summit held during President Lee Jae Myung’s state visit to India on April 20, 2026, the two countries agreed to build stable supply chains for key energy resources, including naphtha. The two sides also signed four memoranda of understanding covering the establishment of an industrial cooperation committee, the resumption of negotiations on the Comprehensive Economic Partnership Agreement (CEPA), steel cooperation, and climate change mitigation. 1. Korea–India Joint Statement on Energy and Resource Security Cooperation MOTIR adopted an annex to the Korea–India Joint Statement on Energy and Resource Security Cooperation with India, Korea’s fifth-largest source of naphtha imports and the top export market for Korean base oils. The annex sets out cooperation to build stable supply chains across the resource value chain, including petroleum products, and marks Korea’s first bilateral resource-sector cooperation outcome reached with a partner government since tensions escalated in the Middle East. Under the annex, MOTIR will support Korean companies in consultations with India on naphtha supply and expand similar cooperation with other resource-rich countries. 2. Korea and India Sign MOU to Launch Industrial Cooperation Committee Minister JK Kim of MOTIR and India’s Minister of Commerce and Industry Piyush Goyal signed an MOU to launch a Korea–India Industrial Cooperation Committee, the first regular ministerial-level consultative body for bilateral economic cooperation. The committee will discuss cooperation projects and measures to address business concerns facing Korean companies in India across trade and investment, industrial cooperation, strategic resources, and clean energy. Key agenda items include licensing delays and unpaid state-level incentives. The committee will also cover concrete cooperation plans in sectors where companies from both countries see strong demand, including semiconductors, shipbuilding and nuclear power. 3. Korea and India Sign Joint Declaration to Accelerate CEPA Upgrade Talks Trade Minister Yeo Han-koo of MOTIR and India’s Minister of Commerce and Industry Piyush Goyal signed a joint declaration to accelerate negotiations to upgrade the Korea–India CEPA. The two sides agreed to resume upgrade talks, which had effectively stalled after the 11th round in July 2024, by holding the 12th round in May 2026 and regularizing follow-up negotiations. The two sides will work to create a more business-friendly trade environment through the existing negotiating tracks on goods, services, and rules of origin, while also pursuing new tracks on digital trade and supply chain cooperation. 4. Korea and India Sign Steel Cooperation MOU Minister JK Kim of MOTIR and India’s Minister of Steel H.D. Kumaraswamy signed a Korea–India Steel Cooperation MOU. The MOU is intended to strengthen cooperation with India, Korea’s fifth-largest export market for steel products, and support Korean steelmakers’ investment and business expansion in India, including POSCO Holdings’ planned integrated steel mill with an annual capacity of six million tons. The two countries will also launch a Korea–India public-private steel dialogue to discuss export-related difficulties and the transition to lower-carbon production processes. 5. Korea and India Sign Article 6.2 MoC under Paris Agreement Minister JK Kim of MOTIR and India’s Minister of Environment, Forest and Climate Change Bhupender Yadav signed a Korea–India Memorandum of Cooperation (MoC) under Article 6.2 of the Paris Agreement. The MoC establishes a bilateral framework for transferring emissions reductions generated by Korean companies’ projects in India to Korea, giving Korean companies a basis to ent date2026-04-21

MOTIR Holds the Industrial Complex Policy Hackathon

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the Industrial Complex Policy Hackathon in Yesan, Chungcheongnam-do, on April 18, 2026.  Attendees included Lee Sang-hoon, chairman of the Korea Industrial Complex Corporation (KICOX), Kang Yoon-joo, president of the Korea Institute of Design Promotion (KIDP), and other participants and officials. After delivering opening remarks, Minister Kim presented the MOTIR Minister’s Award to “Bungeoppang,” the team that won the top prize. He said, “We will build M.AX ecosystems in key industrial complexes across the five mega-regions and three special self-governing provinces so that they fully serve as Korea’s growth engines, and the benefits of AI transformation reach industries across the regions.” date2026-04-20

Korea and the EU Hold 13th FTA Trade Committee and First Strategic Dialogue

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the 13th Korea–EU FTA Trade Committee and the first Strategic Dialogue on Trade, Supply Chains and Technology at the Four Seasons Hotel Seoul on April 17, 2026, where he delivered opening remarks and discussed trade issues including steel and the Industrial Accelerator Act (IAA), as well as new trade agenda items such as critical minerals and semiconductors. The meetings were attended by Maroš Šefčovič, European Commissioner for Trade and Economic Security, and officials from Korea and the EU. Trade Minister Yeo said, “Today’s meetings mark an important turning point in broadening Korea–EU cooperation beyond traditional trade into a next-generation strategic partnership on economic security, supply chains, and advanced technologies. We will continue to use both high-level and working-level channels to improve predictability for Korean companies in the EU market and work closely with the EU toward a free and fair trade environment.” date2026-04-17

First Industrial Complex AX Subcommittee Meeting

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired the first meeting of the Industrial Complex AX Subcommittee in Cheongju, North Chungcheong Province, on April 17, 2026.  Attendees included Park Min-won, president of Changwon National University and chair of the Subcommittee; Lee Sang-hoon, chairman of the Korea Industrial Complex Corporation (KICOX); and other Subcommittee members. Minister Kim said, “We will build M.AX ecosystems in key industrial complexes across the five mega-regions and three special self-governing provinces so that they fully serve as Korea’s growth engines, and the benefits of AI transformation reach industries across the regions.” date2026-04-17

Roundtable with Battery and Display Companies

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired a roundtable with battery and display companies and related industry associations in Cheongju, North Chungcheong Province, on April 17, 2026. Representatives from SK On, Samsung SDI, LG Energy Solution, Samsung Display, WONIK IPS, Dongjin Semichem, the Korea Battery Industry Association (KBIA) and the Korea Display Industry Association (KDIA) attended the meeting.  After delivering opening remarks, Minister Kim heard about the current state of the region’s battery and display ecosystem and discussed difficulties facing the industry. He said, “Batteries and displays are foundational industries for mobility, energy storage systems (ESS), robotics, and many other sectors. The government will strengthen the industrial ecosystem and expand M.AX to secure a clear edge in global competition.” date2026-04-17

Minister Kim Visits Central Region to Discuss Advanced Industries and Region-Led M.AX

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited the central region of Korea on April 17, 2026, as part of the ministry’s on-site outreach under the “Five Mega-Regions and Three Special Self-Governing Provinces” initiative. The visit was held despite ongoing emergency economic response efforts linked to the war in the Middle East, underscoring MOTIR’s commitment to region-led growth through regular communication with local stakeholders. The visit focused on ways to strengthen the secondary battery and display industries clustered in the central region and to step up region-led Manufacturing AI Transformation (M.AX) through industrial complexes. It also marked the first Industrial Complex AX Subcommittee meeting since its launch on February 26 as the 11th subcommittee under the M.AX Alliance. Breakfast Roundtable with Battery and Display Companies Minister Kim first met with major battery and display companies and industry associations in the central region to review industry conditions and hear companies’ concerns. Participants discussed key issues facing the industry, including investment, workforce, and supply chains, against a backdrop of intensifying global competition and rising external uncertainty. They also discussed policy options to expand downstream demand—including battery leasing and R&D initiatives led by anchor buyers—and to strengthen win-win cooperation across the industrial ecosystem. Minister Kim said, “Batteries and displays are foundational industries for mobility, energy storage systems (ESS), robotics, and many other sectors. The government will strengthen the industrial ecosystem and expand M.AX to secure a clear edge in global competition.” First Industrial Complex AX Subcommittee Meeting Minister Kim then chaired the first meeting of the Industrial Complex AX Subcommittee, where participants discussed the subcommittee’s operating plan and ways to build M.AX clusters through the 10 MINI Alliances. The meeting also marked the start of a full-fledged, field-based foundation for wider adoption, bringing together local industry, academia, and research institutions. Minister Kim said, “We will build M.AX ecosystems in key industrial complexes across the five mega-regions and three special self-governing provinces so that they fully serve as Korea’s growth engines, and the benefits of AI transformation reach industries across the regions.” In addition, MOTIR will hold a two-day Industrial Complex Policy Hackathon in Yesan, Chungcheongnam-do, on April 17–18, 2026, with direct participation from young workers to develop ideas for more vibrant industrial complexes. The hackathon was proposed during a January 22 roundtable with young workers held during MOTIR’s regional visit to Jeollabuk-do. It will serve as a starting point for turning young workers’ ideas into policy to build more vibrant industrial complexes. About 20 officials from MOTIR’s Regional Economic Policy Bureau will join the full two-day program to help ensure those ideas move beyond suggestions and into actual policy. date2026-04-17

Korea and EU Advance Strategic Economic Partnership on Supply Chains and Economic Security

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the 13th Korea–EU FTA Trade Committee meeting and the first Strategic Dialogue on Trade, Supply Chains and Technology with Maroš Šefčovič, European Commissioner for Trade and Economic Security, in Seoul on April 17, 2026. The two sides noted that the Korea–EU FTA has served as a key platform for cooperation in goods, services, and investment over the past 15 years and agreed to broaden cooperation to supply chains, critical minerals, and advanced technologies amid growing economic security challenges. 1. Key Outcomes of the 13th Korea–EU FTA Trade Committee At the Trade Committee meeting, the two sides finalized the text of the Korea–EU Digital Trade Agreement (DTA), concluded in March 2026, and agreed to work closely toward its signature and entry into force. They also agreed to revise the motor vehicles and parts appendix (2-C-3), moving immediately on 26 items and continuing consultations on 11 others. The two sides agreed to begin MRA talks on telecommunications equipment, pharmaceuticals, and circular-economy packaging materials. In cosmetics, they agreed to set up a working group to address industry concerns and support trade and investment, with its first meeting planned for the second half of 2026. 2. Discussion on Key Trade Issues On key trade issues, Korea welcomed the text of the Industrial Accelerator Act (IAA), which would treat products from FTA partners on a par with EU-origin products. Korea also asked the EU for its attention and support in addressing concerns raised by the Korean government and industry regarding provisions that remain unclear. Korea expressed deep concern over the steel tariff-rate quota (TRQ) measure under consideration by the EU and asked that any such measure be designed in a manner consistent with the Korea–EU FTA and WTO rules. On geographical indications (GIs), Korea proposed interpretive guidance to ensure clear origin labeling and prevent consumer confusion. On the Carbon Border Adjustment Mechanism (CBAM), Korea welcomed recent simplification steps and called for the early adoption of key implementing rules, including provisions on carbon prices already paid in third countries. Korea also requested safeguards against double regulation for Korea, which already operates the Korea Emissions Trading Scheme (K-ETS), and support for the recognition of Korean verification agencies by EU accreditation bodies. 3. Key Outcomes of the First Korea–EU Strategic Dialogue At the Strategic Dialogue, the two sides discussed practical cooperation in response to a new trade environment increasingly shaped by economic security concerns. They recognized shared vulnerabilities in critical minerals and semiconductors and agreed to step up strategic communication and cooperation in those areas, while continuing cooperation in AI, advanced semiconductors, and key materials. On batteries, Korea noted that Korean battery companies are contributing to EU supply chains and job creation through large-scale investment and production in Europe, and called for a larger role in EU energy storage system (ESS) projects. Korea formally proposed discussions on a tentatively titled Korea–EU Strategic Economic Partnership, which would broaden cooperation beyond trade to economic security. Both sides agreed to continue discussions on the initiative. Trade Minister Yeo said, “Today’s meetings mark an important turning point in broadening Korea–EU cooperation beyond traditional trade into a next-generation strategic partnership on economic security, supply chains, and advanced technologies. We will continue to use both high-level and working-level channels to improve predictability for Korean companies in the EU market and work closely with the EU toward a free and fair trade environment date2026-04-17

Roundtable on Expanding Win-Win Trade Finance and Signing Ceremony for Consumer Goods Supply Chain Guarantee Agreements

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended a roundtable on expanding win-win trade finance and a signing ceremony for consumer goods supply chain guarantee agreements at the Korea Trade Insurance Corporation (K-SURE) in Seoul on April 14, 2026.  The event brought together representatives from trade and industry groups, Woori Bank, Kolmar, MUSINSA and other export-related organizations and companies. “Win-win trade finance is more than a support program. It is a key safety net for Korea’s industrial ecosystem and supply chains,” Minister Kim said. “The government will work to expand this model quickly.” date2026-04-15