Ministry of Trade Industry and Resources

Indo-Pacific Energy Security Ministerial and Business Forum

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo, Japan, on March 15, 2026.  The event brought together senior government officials from 17 major Indo-Pacific countries—including the United States, Australia, Vietnam, and New Zealand—as well as business leaders from the energy, infrastructure, industry, and finance sectors. At the forum, participants discussed ways to strengthen energy security across the Indo-Pacific, with a focus on ensuring reliable and affordable energy supply, securing energy supply chains and infrastructure, and expanding trade and investment cooperation. In a joint statement, ministers also affirmed their shared determination to work collectively to promote a stable and secure energy supply in the region. date2026-03-17

Korea–Japan Industry and Trade Ministers’ Meeting

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Akazawa Ryosei, Japan’s Minister of Economy, Trade and Industry (METI), in Tokyo on March 14, 2026, on the sidelines of the inaugural Indo-Pacific Energy Security Ministerial.   Ahead of the meeting, the two sides signed the Korea–Japan Supply Chain Partnership Arrangement (SCPA) to strengthen cooperation on supply chain disruption response and industrial collaboration, and discussed key bilateral agendas across industry and trade. They also agreed to launch the Korea–Japan Industrial and Trade Policy Dialogue, a regular consultative channel between MOTIR and METI,  and shared the view that closer coordination is needed to help stabilize LNG supply. Minister Kim said, “As uncertainty grows amid shifts in the global trade environment, instability in energy and resource markets, and supply chain risks, Korea and Japan, as like-minded partners, have remained in close coordination. Building on 60 years of normalized diplomatic relations, the two countries will continue to advance forward-looking and mutually beneficial industrial and trade cooperation.”   date2026-03-17

Korea–India Trade Ministers’ Meeting

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the Korea–India Trade Ministers’ Meeting with Piyush Goyal, India’s Minister of Commerce and Industry, in New Delhi, India, on March 13, 2026, with government delegations from both countries in attendance.  After delivering opening remarks, the two sides welcomed the growing depth of bilateral economic ties and held in-depth talks on resuming and accelerating negotiations to upgrade the Korea–India CEPA. Trade Minister Yeo also stressed the importance of closer economic cooperation between the two countries as they seek to diversify markets and supply chains.   date2026-03-16

Roundtable with Indian IT and AI Companies

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) chaired a roundtable with Indian IT and AI companies in New Delhi, India, on March 13, 2026, attended by representatives from the Federation of Indian Chambers of Commerce & Industry (FICCI) and other industry participants. He delivered opening remarks and discussed ways to strengthen Korea–India cooperation in AI and digital trade. The roundtable provided an opportunity for the two sides to exchange views on future cooperation in AI and digital trade and to explore ways to deepen bilateral cooperation in emerging technology sectors. date2026-03-16

Meeting with NITI Aayog Vice Chairman

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Suman Bery, Vice Chairman of NITI Aayog, in New Delhi, India, on March 13, 2026, to discuss ways to deepen bilateral trade cooperation. During the meeting, the two sides exchanged views on economic cooperation between Korea and India, including efforts to diversify markets and supply chains. Trade Minister Yeo also called for active support from the Indian government to help address difficulties faced by Korean companies operating in the country. date2026-03-16

Korea, Japan Hold Industry and Trade Ministers’ Meeting at Indo-Pacific Energy Security Ministerial

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the inaugural Indo-Pacific Energy Security Ministerial in Tokyo on March 14–15, 2026, where he met with Akazawa Ryosei, Japan’s Minister of Economy, Trade and Industry (METI), to discuss key bilateral agendas across industry, trade, and global supply chains. Amid heightened global uncertainty, Korea and Japan have remained in close coordination on supply chains and energy security. Against this backdrop, the two sides agreed to launch the Korea–Japan Industrial and Trade Policy Dialogue, a regular consultative channel between MOTIR and METI, to review and manage bilateral agendas across trade, economic security, supply chains, steel, and mineral resources. The two sides also underscored the importance of closer Korea–Japan cooperation to help stabilize LNG supply, given that both countries are among the world’s leading LNG importers. Korea Gas Corporation and JERA signed an Operation Cooperation Agreement covering LNG supply arrangements, including LNG swaps. The agreement establishes a framework for joint action in the event of an LNG supply disruption. The two sides agreed to expand practical follow-up measures at an early date, including the implementation of LNG swaps, to support stable LNG supply and demand in both countries. Minister Kim said, “As uncertainty grows amid shifts in the global trade environment, heightened volatility in energy and resource markets, and supply chain risks, Korea and Japan, as like-minded partners, have remained in close coordination. Building on 60 years of normalized diplomatic relations, the two countries will continue to advance forward-looking and mutually beneficial industrial and trade ties.”   Before the meeting, the two sides signed the Korea–Japan Supply Chain Partnership Arrangement (SCPA), establishing a framework for joint responses to supply chain disruptions and broader industrial ties. Under the partnership, Korea and Japan will endeavor to minimize unnecessary measures that could affecting each other’s supply chains and to share information when signs of disruption emerge. They also plan to deepen supply chain ties by expanding joint exploration, investment, and technological collaboration in critical minerals and other resources. date2026-03-16

Korea and India Discuss Resuming and Accelerating Korea–India CEPA Upgrade Talks

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Piyush Goyal, India’s Minister of Commerce and Industry, in India on March 13, 2026, to discuss ways to deepen bilateral trade and investment ties. India is one of Korea’s key partners in the New Southern region. Home to 1.45 billion people, it is the fourth-largest economy and one of the fastest-growing markets in the world, with average annual growth of about 7 percent over the past decade. As the country has recently concluded a series of high-standard FTAs and continues to open its market, expanding liberalization under the Korea–India CEPA has become increasingly urgent to help Korean companies remain competitive. Bilateral trade reached USD 25.7 billion in 2025, making it Korea’s eighth-largest export market. This represents an increase of more than 50 percent from the USD 17.1 billion recorded in 2010, when the agreement entered into force, underscoring the country’s growing importance to the Korean economy. Against a backdrop of rapid shifts in the global trade environment, Trade Minister Yeo highlighted the importance of closer economic cooperation between the two countries as they work to diversify markets and supply chains. Noting the growing depth of bilateral economic ties, he held in-depth discussions with Minister Goyal on ways to resume and accelerate negotiations to upgrade the Korea–India CEPA. The two sides also exchanged views on key issues ahead of the 14th WTO Ministerial Conference, which will be held in Cameroon, on March 26–29, 2026. With momentum building among WTO members for reform, they discussed the direction of those efforts and other major issues, including incorporating the Investment Facilitation for Development Agreement, which Korea has championed, into the WTO legal framework. They also explored practical ways to strengthen the multilateral trading system. During the visit, Trade Minister Yeo also met with Korean companies operating in India to hear their concerns firsthand. At both the ministerial meeting and a separate session with NITI Aayog, the Indian government’s policy think tank, he called for stronger support from the government to help resolve those difficulties. He also took part in a roundtable hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI) with local IT and AI companies, where participants exchanged views on future cooperation in AI and digital trade. Trade Minister Yeo said, “India is a key pillar in the reshaping of global supply chains and one of Korea’s most important partners in the New Southern region. We will continue consultations with the Indian government to further expand mutually beneficial economic cooperation.” Building on the outcomes of the visit, MOTIR will maintain momentum in the Korea–India CEPA upgrade talks while continuing to expand support for Korean companies seeking to enter the market. date2026-03-16

Minister Kim Visits an SK Energy Gas Station

On Friday, March 13, 2026, Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited an SK Energy-operated gas station in Dohwa-dong, Mapo-gu, Seoul, where prices had not risen as much as at nearby stations despite the recent surge in global oil prices.  During the visit, he was briefed on recent fuel price trends and observed inspections of petroleum product prices, quality, and distribution. Minister Kim asked that retail prices continue to be kept stable so that the public can directly benefit from the maximum price system. date2026-03-16

Energy Security for Indo-Pacific Endurance, a Global Growth Center of the 21st Century

We, the ministers of [participating countries in alphabetical order], met in Tokyo, Japan, on March 14–15, 2026, to hold the historic Indo-Pacific Energy Security Ministerial and Business Forum. The forum was co-hosted by the Chair and Vice Chair of the U.S. National Energy Dominance Council, Secretary of the Interior Doug Burgum, Secretary of Energy Chris Wright, and Japanese Minister of Economy, Trade and Industry Akazawa Ryosei. In light of the current situation in the Middle East, we affirm our shared determination to work collectively to ensure stable and secure energy supply in the Indo-Pacific region.  To this end, we focused on three key themes: reliable energy for Indo-Pacific growth and security; securing energy supply chains, infrastructure and maritime routes; and enabling trade and investment. To support these goals, Ministers affirm the value of: · The necessity of reliable, affordable, secure and dispatchable energy from all sources depending on each country’s situation, in meeting the region’s surging energy demand.  · Promoting quality as a key procurement mechanism to mitigate risk of operational liabilities. · Protecting against rising cyber threats to the security of the energy grid, critical infrastructure, vehicles, and devices. · Investment in comprehensive energy infrastructure that encompasses the entire energy supply chain from upstream development facilities to downstream equipment to support an affordable, reliable, and secure energy supply including baseload electricity.  · Continuing to supply affordable and reliable energy sources in the Indo-Pacific region, including through emergency response measures, to benefit both producers and consumer countries. · While maintaining strong relations with current partners, expanding and diversifying energy suppliers and fuel types in order to strengthen energy security. · Promoting transparent, long-term energy contracts that reduce market volatility. As the global economy expands, so too does demand for energy driven by AI and electrification, we, as countries committed to a free and open Indo-Pacific, reaffirm our commitment to enhancing energy security in the region through the supply of abundant, accessible, reliable, affordable, secure and dispatchable energy.  We recognize that growing all sources of energy, ensuring energy access and infrastructure, and lowering energy costs for all are essential to our efforts to end poverty, better human lives, and further drive economic growth, security, and prosperity in the Indo-Pacific, a global growth center of the 21st century. We welcome Pacific LNG exports, including from the United States and other established and emerging suppliers, that contribute to reliable, affordable and diversified energy supply in the Indo-Pacific region. We note efforts by the World Bank, the Asian Development Bank (ADB) and other international finance institutions to expand financing for energy-related programs and technical assistance including for nuclear energy projects for interested countries aligned with IAEA standards on safety, security, regulatory frameworks, and non-proliferation safeguards and supporting developing countries in mobilizing finance, transferring technology and capacity building. In addition, interested countries intend to accelerate cooperation, especially in the field of nuclear energy, to pursue deployment of Small Modular Reactors (SMRs) and other advanced technologies. We congratulate the series of tangible deals announced in Tokyo on this occasion and intend to make efforts to ensure that these deals result in reliable, accessible, and affordable energy supply and pave the way for future cooperation. date2026-03-16

Korea’s National Assembly Passes Special Act for Korea–U.S. Strategic Investment Management

The National Assembly of Korea passed the Special Act for Korea–U.S. Strategic Investment Management (the “Korea–U.S. Strategic Investment Special Act”) at its plenary session on March 12, 2026.  Following the signing of the Memorandum of Understanding (MOU) on Korea–U.S. Strategic Investment on November 14, 2025, the Korean government and the National Assembly moved swiftly to prepare special legislation to establish the legal and institutional basis for its implementation. The first bill was introduced on November 26, 2025, and was followed by eight additional bills. To expedite deliberations, the National Assembly, by bipartisan agreement, set up a special committee for a one-month term beginning on February 9, 2026. After intensively reviewing all nine bills, the National Assembly passed the final bill at today’s plenary session, about four months after the governments of Korea and the United States signed the MOU. The Korea–U.S. Strategic Investment Special Act gives domestic legal effect to the MOU by defining the scope and principles of strategic investment and setting out the implementation framework and safeguards. Under the Act, “strategic investment” refers to Korea’s USD 200 billion commitment to invest in strategic industries in the United States and a separate USD 150 billion shipbuilding cooperation package approved by the United States. The Act provides that U.S.-bound investment must, in principle, be carried out on a commercially reasonable basis and in a manner consistent with the national interest, including the development of the national economy and stronger industrial competitiveness. It also allows exceptions, subject to prior consent from the relevant standing committees of the National Assembly, when unavoidable grounds exist, such as national security or supply chain stability. The Act establishes a dual-track implementation structure for strategic investment. Candidate projects will first be reviewed by the Project Management Committee under the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) for commercial reasonableness as well as strategic and legal considerations. The Operating Committee under the Korea–U.S. Strategic Investment Corporation will then decide whether to proceed, taking into account the review results and the fund’s financial position. The Korean government will report the matter to the relevant standing committees of the National Assembly before consulting with the United States. Final decisions on investment and execution will be made by the Operating Committee following bilateral consultations and the relevant U.S. procedures. The Act also includes safeguards and a funding framework for implementation. U.S.-bound investment will be capped at USD 20 billion per year and executed in line with project progress. If there are concerns about foreign exchange market instability or possible disruptions to the recovery of principal and interest, the Korean government must consult with the U.S. on adjustments to the timing and scale of execution or to the distribution of cash flows. Furthermore, the Act provides for the establishment of the Korea–U.S. Strategic Investment Fund within the Korea–U.S. Strategic Investment Corporation. Separate accounts will be maintained for U.S.-bound investment and support for shipbuilding cooperation investment. Minister JK (Jung-Kwan) Kim of MOTIR said, “The passage of the Act reflects the shared commitment of the Korean government and the National Assembly to keep the bilateral tariff agreement on track and further strengthen the Korea–U.S. strategic partnership.” He added that the ministry will work closely with the U.S. to ensure that implementation of the MOU helps deepen cooperation in strategic industries, expand opportunities for Korean companies in the U.S. market, and strengthen bilateral sup date2026-03-16