Ministry of Trade Industry and Resources

Joint Press Release on the Substantive Conclusion of Discussions for the Republic of Peru’s Accession to the Digital Economy Partnership Agreement

The Parties to the Digital Economy Partnership Agreement (DEPA) are pleased to announce the substantive conclusion of discussions for the Republic of Peru’s accession to this world-leading digital trade agreement. Digitally signed in 2020 by Chile, New Zealand and Singapore, the DEPA is the world’s first standalone digital economy agreement and represents a forward-looking model for economic engagement and trade in the digital era. The Agreement reinforces commercially meaningful digital trade rules, fosters new approaches and collaborations in digital trade, promotes interoperability across different regulatory frameworks, and addresses emerging challenges arising from digitalisation. Designed as an open and inclusive framework, the DEPA is open to economies that are able to meet its high standards. The Republic of Korea joined the DEPA on 3 May 2024 as the first new member economy. Peru formally requested accession to the DEPA on 23 May 2023, and an Accession Working Group was established on 7 November 2024 to assess the request. Following a comprehensive assessment, the Accession Working Group, chaired by the Republic of Korea, agreed that, based on Peru’s existing legal framework, policies and practices, Peru has demonstrated its capacity to comply with the DEPA’s provisions. Peru has also shown a strong commitment to engaging constructively with DEPA Parties on areas of shared interest, including digital trade facilitation, consumer protection and cross-border data flows. The DEPA Parties will now continue to work with Peru to advance the remaining steps of the accession process in a timely manner, consistent with each Party’s domestic procedures and the DEPA Accession Process. Chile’s Vice Minister of International Economic Relations Claudia Sanhueza said, “Chile and Peru share a long history of economic integration and forward-looking trade cooperation. In this context, Chile warmly welcomes the substantive conclusion of discussions for Peru’s accession to the DEPA, a step that strengthens our joint commitment to building a high-quality regulatory framework that promotes digital trade. This milestone deepens our shared vision for a modern and inclusive digital economy and opens new opportunities for regional cooperation and innovation.” New Zealand’s Minister for Trade and Investment Todd McClay said, “New Zealand is pleased to join Parties in inviting Peru to accede to the DEPA. Throughout the process, Peru has demonstrated that it shares our commitment to progressive, high-quality digital trade rules and the DEPA’s vision. Peru’s accession will strengthen DEPA as a leading high standards digital economy agreement and we look forward to working closely with them to advance its objectives.” Singapore’s Minister-in-charge of Trade Relations and Minister for Sustainability and the Environment Grace Fu said, “Singapore warmly welcomes the substantive conclusion of Peru’s accession negotiations to the DEPA. This marks another important milestone for the DEPA. The expansion of the DEPA’s membership will unlock more opportunities and add further weight to the DEPA’s ambition to foster more open digital markets. We look forward to partnerships with Peru through the DEPA to expand and enhance collaborations in digital trade. We are hopeful that the DEPA will continue to attract like-minded partners who share our vision in digital economy cooperation.” The Republic of Korea’s Minister for Trade Yeo Han-Koo said, “We welcome the substantial conclusion of Peru’s accession negotiations to Digital Economy Partnership Agreement. Peru is an important partner that shares DEPA’s vision of an open and inclusive digital trade order. Peru’s accession represents a meaningful step forward in advancing the DEPA as a global platform for digital trade cooperation date2026-01-14

Trade Minister Meets with NFTC President

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with representatives of the National Foreign Trade Council (NFTC) in Washington, D.C., on January 12, 2026 (local time), to hear updates on developments related to the International Emergency Economic Powers Act (IEEPA) and to outline Korea’s domestic digital legislative developments. The meeting was attended by Jake Colvin, President of the NFTC, along with other NFTC officials. date2026-01-13

Trade Minister Meets with CCIA President

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with representatives of the Computer & Communications Industry Association (CCIA) at the CCIA headquarters in Washington, D.C., on January 12, 2026 (local time), to outline Korea’s domestic digital legislative developments and hear concerns raised by the U.S. side. The meeting was attended by Matthew Schruers, President and CEO of the CCIA, along with other CCIA officials. date2026-01-13

Trade Minister Meets with U.S. Representative Darell Issa

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with U.S. Representative Darrell Issa (CA-48) at the U.S. Congress in Washington, D.C., on January 12, 2026 (local time), to outline Korea’s domestic digital legislative developments and hear concerns raised by the U.S. side. date2026-01-13

Trade Minister Attends U.S. CSI Roundtable

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the U.S. Coalition of Services Industries (CSI) Roundtable held in Washington, D.C., on January 12, 2026 (local time), where he gathered views from the U.S. services industry. The roundtable was attended by Christine Bliss, President of CSI, along with CSI officials and member companies. date2026-01-13

Roundtable with A&P IEEPA

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the A&P IEEPA Roundtable held in Washington, D.C., on January 12, 2026 (local time), where he discussed trade-related implications in preparation for a forthcoming ruling under the International Emergency Economic Powers Act (IEEPA). The roundtable was attended by John P. Elwood, Head of Appellate and Supreme Court Practice at A&P, along with other A&P officials. date2026-01-13

Korea’s Trade Minister to Meet with U.S. Officials, Members of Congress, and Industry Leaders to Discuss Key Korea–U.S. Trade Issues

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will visit Washington, D.C., January 11–14, 2026 (local time), to meet with key stakeholders—including the Office of the U.S. Trade Representative (USTR), relevant U.S. government agencies, members of Congress, and industry representatives—and discuss Korea–U.S. trade issues. The visit comes as the U.S. Supreme Court considers the legality of reciprocal tariffs imposed under the International Emergency Economic Powers Act (IEEPA). During the trip, Trade Minister Yeo will closely track developments and consult with relevant agencies and industry to explore response options to minimize potential impacts on businesses. Trade Minister Yeo will also hear concerns from members of Congress and industry stakeholders regarding Korea’s domestic digital legislation, while underscoring that it is neither discriminatory toward U.S. companies nor intended to create unnecessary barriers. In meetings with the USTR, Trade Minister Yeo will review progress on preparations for the Korea–U.S. Free Trade Agreement (FTA) Joint Committee and coordinate details, including the agenda and schedule. Trade Minister Yeo emphasized, “As Korea moves forward with legislation in areas such as digital policy, it is important to maintain a stable Korea–U.S. trade environment through thorough stakeholder consultations and close coordination among relevant ministries. date2026-01-12

MOTIR Holds Roundtable with AMCHAM

JK (Jung-Kwan) Kim, Minister of Trade, Industry and Resources (MOTIR), attended a roundtable with members of the American Chamber of Commerce in Korea (AMCHAM), including James Kim, Chairman and CEO of AMCHAM, and representatives of major U.S. companies operating in Korea, at the Mugunghwa Hall of the Government Complex Seoul on January 9, 2026. Held at AMCHAM’s request, the meeting focused on gathering feedback and hearing about challenges faced by U.S. companies investing in Korea, as well as strengthening communication to support their investment activities. Minister Kim stated, “We will work to reflect feedback from AMCHAM member companies in our policies, while continuing to create a more predictable and stable investment environment for foreign-invested companies.” date2026-01-12

Industry Briefing on the Conclusion of Korea–UK FTA Upgrade Negotiations

Kwon Hye-jin, Director General for Trade Negotiations at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the industry briefing on the conclusion of the Korea–UK Free Trade Agreement (FTA) upgrade negotiations held at Lotte Hotel Seoul on Thursday, January 8, 2026. Following her opening remarks, Director General Kwon shared with industry stakeholders the outcomes of the Korea–UK FTA upgrade negotiations concluded on December 15, 2025. The briefing was attended by officials from relevant ministries, representatives of related institutions, and executives from companies across the manufacturing and services sectors. date2026-01-12

MOTIR Minister Encourages U.S. Companies to Expand Investment in Korea

Minister of Trade, Industry and Resources (MOTIR) JK (Jung-Kwan) Kim held a meeting with members of the American Chamber of Commerce in Korea (AMCHAM), including U.S. foreign-invested companies operating in Korea, on Friday afternoon, January 9, 2026, at the Mugunghwa Hall of the Government Complex Seoul. The meeting was arranged at AMCHAM’s request amid the signing of a memorandum of understanding on strategic investment between Korea and the United States in November last year and the subsequent proposal of the Special Act for Korea–U.S. Strategic Investment Management. Discussions focused on gathering feedback and hearing about the challenges faced by U.S. foreign-invested companies operating in Korea, as well as on strengthening communication to better support their investment activities. During the meeting, Minister Kim expressed his appreciation for the fact that U.S. investment in Korea reached a record high last year, noting that the increase comes at a time when Korean firms are also expanding investment in the U.S. following the conclusion of bilateral tariff negotiations. He assessed that this trend reflects the mutually beneficial development of investment cooperation between the two countries. The meeting was attended by James Kim, Chairman and CEO of AMCHAM Korea, along with representatives of major American companies investing in Korea. Participants shared their views on issues such as Korea–U.S. tariff negotiations on individual products and foreign investment incentive schemes. Minister Kim stated, “The government will reflect feedback from AMCHAM member companies in its policies, while continuing to create a more predictable and stable investment environment for foreign-invested companies.” Looking ahead to 2026, Minister Kim expressed hope that bilateral cooperation would further deepen in advanced and future-oriented industries, and encouraged U.S. companies to continue expanding their investment in Korea. MOTIR plans to carefully review the suggestions raised at the meeting and maintain close communication with key foreign-invested companies. date2026-01-12