Ministry of Trade Industry and Resources

Korea and Mongolia to Hold Sixth Round of Official CEPA Negotiations

Korea and Mongolia will hold the sixth round of official negotiations for the Korea-Mongolia Comprehensive Economic Partnership Agreement (CEPA) from July 1 to 3, 2026, in Ulaanbaatar, Mongolia. The talks are aimed at expanding bilateral economic cooperation and strengthening the basis for mutually beneficial trade and investment. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that the Korean delegation will be led by Kwon Hye-jin, Deputy Minister for Trade Negotiations, and the Mongolian delegation by State Secretary Batkhuu Idesh of the Ministry of Economy and Development. Since launching CEPA negotiations in December 2023, the two countries have held five official rounds and have come close to agreement in major areas, including goods, services, investment, digital trade, and economic cooperation. At the sixth round, the two sides will focus on key outstanding issues, including goods and rules of origin, with the aim of reaching an agreement. Korea’s strengths in manufacturing and technology complement Mongolia’s strong economic growth and abundant natural resources. Once signed and entered into force, the Korea-Mongolia CEPA is expected to expand bilateral trade and investment and further strengthen supply chain and industrial cooperation in infrastructure, consumer goods, and other areas. “Our goal in this round is to reach substantive agreement by focusing discussions on key areas, including tariff concessions on goods and rules of origin,” Deputy Minister Kwon said. “Korea will make every effort to reach a balanced, mutually beneficial outcome on market opening.” date2026-06-30

Minister Kim Meets with Uzbekistan’s Minister of Investment, Industry and Trade

Minister JK Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry and Trade, in Seoul on June 26, 2026, to discuss ways to deliver tangible results in bilateral economic cooperation ahead of the first Korea-Central Asia Summit, scheduled for September. Minister Kim said Uzbekistan is a key cooperation partner for Korea and an important economic partner in Central Asia, adding that Korea will work closely with Uzbekistan to help the September summit take bilateral economic cooperation to the next level. date2026-06-26

Seventh Korea-China FTA Joint Committee

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR), Korea’s chief delegate, attended the seventh Korea-China FTA Joint Committee at China’s Ministry of Commerce in Beijing on June 25, 2026. The meeting brought together government delegations from both countries, including China International Trade Representative Li Chenggang. The two sides reviewed the implementation status of the Korea-China FTA, now in its 12th year, and discussed key areas for improvement raised by FTA committees on customs and rules of origin, technical barriers to trade (TBT), intellectual property rights, and economic cooperation. date2026-06-26

Korea and Uzbekistan Discuss Expanding Economic Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, in Seoul on June 26, 2026. They discussed ways to deliver tangible results in bilateral economic cooperation ahead of the first Korea-Central Asia Summit, scheduled for September 2026. With the Summit approaching, the two sides exchanged views on the need to establish the C5+Korea Industry Ministers’ Meeting as a platform for industrial cooperation between Korea and the five Central Asian countries. They also agreed to expand practical cooperation in trade and investment, AI transformation in manufacturing, the business summit, and support for Korean companies. The two sides shared the view that economic cooperation between Korea and Uzbekistan is becoming more strategically important amid shifting global supply chains and growing geopolitical uncertainty. They agreed to build on the Summit to lift bilateral trade, which stood at about USD 1.8 billion in 2025, to a new level. They also agreed to strengthen the institutional framework for expanding trade and investment, including by resuming FTA negotiations once Uzbekistan accedes to the WTO. The two sides agreed to make AI transformation in manufacturing a key area of future cooperation. With more Korean companies entering Uzbekistan, the two sides agreed to use Korea’s ODA-funded digital manufacturing technology center project to build a more systematic framework for cooperation on AI transformation in manufacturing, manufacturing data standardization, and workforce training, while expanding business opportunities for companies in both countries. The two sides agreed to use the Korea-Central Asia Business Summit, planned alongside the first Korea-Central Asia Summit, to expand business exchanges between Korean and Central Asian companies and identify new commercial opportunities. As more Korean companies enter Uzbekistan, Minister Kim asked the Uzbek government to continue supporting their business operations and addressing issues they face. He also commended the Korea Desk at Uzbekistan’s Ministry of Investment, Industry and Trade and asked the Uzbek ministry to use the channel to help resolve Korean companies’ concerns and support a more business-friendly investment environment. “Uzbekistan is a key cooperation partner for Korea and an important economic partner in Central Asia,” Minister Kim said. “We will work closely so the Korea-Central Asia Summit in September can help take bilateral economic cooperation to the next level.” date2026-06-26

Korea and China Hold Seventh FTA Joint Committee

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the seventh Korea–China FTA Joint Committee in Beijing on June 25, 2026, with China International Trade Representative Li Chenggang. The Korean delegation, led by Minister Yeo, included officials from the Ministry of Finance and Economy (MOFE), the Ministry of Foreign Affairs (MOFA), and the Ministry of Culture, Sports and Tourism (MCST).  The two sides reviewed the implementation status of the Korea–China FTA, now in its 12th year. They also discussed key areas for improvement raised by the committees on customs and rules of origin, technical barriers to trade (TBT), intellectual property rights, and economic cooperation. Streamlining Origin Certification Procedures for Businesses Korea and China agreed to introduce self-certification of origin by approved exporters and update product-specific rules of origin (PSRs) to facilitate Korean companies’ use of the FTA. Under the approved exporter system, customs authorities recognize exporters that are qualified to certify the origin of goods. Approved exporters can then issue certificates of origin themselves or obtain them through a simplified process. The system will streamline origin certification procedures for about 6,000 Korean companies and reduce time and costs. The two sides will also update the FTA’s product-specific rules of origin from HS 2012 to HS 2022. The update is expected to address a recurring mismatch: FTA certificates of origin are based on HS 2012, while import and export declarations use HS 2022. Aligning the two is expected to make customs clearance and origin certification smoother for businesses. Korea and China also reviewed TBT affecting key industries, including portable batteries, electrical and electronic products, and cosmetics. They discussed more flexible regulatory approaches to improve market access for businesses, including broader recognition of test reports. China also agreed to send an investment delegation to Saemangeum in the second half of 2026 to explore investment opportunities. Beyond trade in goods, the two countries will continue to use the FTA to discuss emerging trade issues, including supply chain stabilization and digital transformation, in response to changes in the global industrial and trade environment. Expanding Cultural Content Cooperation and Accelerating the Subsequent Negotiations on Services and Investment The two chief delegates exchanged information on current intellectual property rights (IPR) infringements, including the illegal online distribution of Korean content, and agreed to expand cooperation on enforcement and protection. Korea stressed the need to expand legal distribution channels for Korean cultural content in China and discussed ways to expand the market for legally distributed cultural content through the subsequent negotiations on services and investment. Korea also proposed establishing a joint Korea–China IPR cooperation body, tentatively named Korea–China IP Action, to continue expert-level discussions on stronger enforcement of content-related IPR. Following the Joint Committee, the two sides held a separate small-group meeting to discuss advancing the subsequent negotiations on services and investment. Korea and China agreed to accelerate consultations on key issues, reflecting the two leaders’ January agreement to seek meaningful progress in 2026. Supporting Korean Companies’ Market Entry in China by Expanding Consumer Goods and Industrial Cooperation During his visit to China, Minister Yeo also supported Korean consumer goods’ entry into the Chinese market and promoted broader industrial cooperation. He visited Tianjin Port, the largest logistics hub in northern China, and discussed ways to use Tianjin’s sea-rail transport network to help Korean consumer goods reach inland China date2026-06-25

KUIC, Policy Finance Institutions, and Three Shipbuilders Sign Korea–U.S. Shipbuilding Investment MoU

On June 25, 2026, the Korea–U.S. Strategic Investment Corporation (KUIC), policy finance institutions, and three major Korean shipbuilders signed an MoU to implement USD 150 billion in Korea–U.S. shipbuilding cooperation investment under the Korea–U.S. Strategic Investment MoU signed on November 14, 2025. The policy finance institutions are the Export-Import Bank of Korea (KEXIM), Korea Development Bank (KDB), Korea Trade Insurance Corporation (K-SURE), and Korea Ocean Business Corporation (KOBC), and the shipbuilders are HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean. Under the MoU, the parties will form a consultative body for Korea–U.S. shipbuilding cooperation investment. The body will share information, identify project opportunities, and coordinate policy financing. KEXIM will serve as the secretariat, handle internal and external communications, and track project progress. The signing ceremony was held at KEXIM in Yeouido, Seoul. Koo Yun-cheol, Deputy Prime Minister and Minister of Finance and Economy (MOFE); Kwon Dae-young, Vice Chairman of the Financial Services Commission (FSC); and Park Dong-il, Deputy Minister for Industrial Policy at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the ceremony to mark the first step in implementing the shipbuilding cooperation investment. In his remarks, Deputy Prime Minister Koo described the shipbuilding cooperation investment as “one of the two pillars of Korea–U.S. strategic investment, along with investment in the U.S.” He said, “This mutually beneficial investment will allow Korea’s world-class shipbuilders to help rebuild the U.S. shipbuilding industry. It will also create new orders and market opportunities across Korea’s shipbuilding ecosystem, including major shipbuilders, small and medium-sized shipbuilders, and equipment suppliers.” Deputy Prime Minister Koo also asked KUIC and participating policy finance institutions to prepare financing plans that ensure sufficient, timely funding. He called for ways to share risks and early-stage investment uncertainties that would be difficult for individual companies to bear alone. He also asked major Korean shipbuilders to identify projects that can deliver mutually beneficial outcomes for both countries’ shipbuilding industries and create opportunities for Korean small and medium-sized shipbuilders and equipment suppliers to join Team Korea. FSC Vice Chairman Kwon Dae-young emphasized, "Through the Korea-U.S. shipbuilding cooperation investment, Korea's shipbuilding industry has gained a prime opportunity to demonstrate its world-class capabilities," adding, "Building on close cooperation among the newly established KUIC, policy finance institutions, and the private financial sector, we will actively ensure that the necessary financing is provided without disruption." Deputy Minister Park said, “MASGA is K-shipbuilding’s first strategic overseas expansion project. The U.S. market is already showing encouraging signs of demand for Korean shipbuilders. Timely financial support is essential to turn these opportunities into results.” He expressed hope that the MoU would help advance the MASGA project and open a new phase of growth for Korea’s shipbuilding industry, and asked policy finance institutions to coordinate closely to support Korean companies’ smooth entry into the U.S. market. KUIC President Park Jong-won said, "Shipbuilding cooperation investment in the U.S. is one of the core areas of Korea-U.S. strategic investment and a key mission for KUIC's implementation of strategic investment," adding, "We will work closely with policy finance institutions to actively support our shipbuilding industry's investment in the U.S. and its vessel orders." KEXIM President Hwang Ki-yeon sai date2026-06-25

Public-Private Strategy Meeting Discusses Industrial and Resource Security in Wake of Middle East Conflict

The government, industry, and experts will mobilize national capabilities to address Korea’s energy and resource supply vulnerabilities stemming from the Middle East conflict and strengthen industrial and resource supply chains across the full value chain, from critical minerals to materials and parts. Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) held the first Industrial and Resource Security Strategy Meeting at Korea Trade Insurance Corporation (K-SURE) in Seoul on June 25, 2026, with experts and industry representatives to discuss future policy directions. The Middle East conflict, which has continued for more than 110 days, has underscored the limits of relying on the government or industry alone to manage resource security crises in Korea, a resource-poor, export-driven economy. It also showed the need to move beyond one-off crisis responses and rebuild supply chains to withstand future disruptions. The Strategy Meeting was launched as a public-private forum to reform Korea’s industrial and resource security system and strengthen crisis response. Members of the Resource Security Advisory Group also participated in the meeting to help gather views from a broad range of fields. The group includes experts in resource economics and security, international politics and trade, law and accounting, and market analysis, as well as representatives from associations and organizations for major resources. At the meeting, MOTIR outlined how it will prepare the master plan for resource security and a plan for stockpiling critical minerals under the Special Act on National Resource Security, and received input from participating experts. Experts at the meeting said the Middle East conflict brought into clearer focus that resources, as raw materials for industry, underpin Korea’s manufacturing sector and national economy. They also agreed that self-reliance in Korea’s industrial and resource supply chains depends not simply on securing resources, but on the ability to control supply chain bottlenecks. To reduce risks from Korea’s heavy reliance on resource imports, the experts recommended diversifying supply sources and procurement methods and expanding stockpiling capacity to improve crisis resilience. They also emphasized the need to manage the full supply chain, from upstream to downstream, and said Korea should mobilize all available policy tools at the national level to secure upstream supply. Participants also agreed that Korea needs to build governance, foster a skilled workforce, and develop and protect key technologies to pursue resource security over the long term. Minister Kim said, “Global supply chains are shifting from a Just-in-Time system to a Just-in-Case system that prepares for contingencies. Resource security is a national task that requires careful, long-term preparation.” He asked experts to continue sharing their insights so that the government and the private sector can work together with a shared sense of responsibility and establish a resource security system that can withstand any circumstances. MOTIR has been preparing the master plan for resource security under the procedures set out in the Special Act on National Resource Security. In 2025, the ministry conducted a resource security diagnosis and assessment covering major core resources. Since April 2026, it has also worked with a group of about 30 researchers, experts, and officials from relevant public institutions to identify areas for supply chain improvement and medium- to long-term policy tasks raised by the Middle East conflict and other developments. MOTIR will give due consideration to the recommendations raised at the Strategy Meeting and incorporate relevant points into the master plan for resource security. The ministry will finalize the plan, which will serve as a medium- to long-term roadmap for resource security, in July 2026 af date2026-06-25

First Industrial and Resource Security Strategy Meeting

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired the first Industrial and Resource Security Strategy Meeting at Korea Trade Insurance Corporation (K-SURE) in Seoul on June 25, 2026. The meeting brought together Vice Minister Moon Shin-hak, industrial and resource security experts, and industry representatives to discuss future policy directions.  Minister Kim said, “Resource security is a national task that requires careful, long-term preparation. The government and the private sector must work together with a shared sense of responsibility to build a resource security system that can withstand any circumstances.” date2026-06-25

Major Retailer Sales Up 9.0% in May 2026

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that total sales at 26 major retailers (15 brick-and-mortar retailers and 11 online retailers) in May 2026 rose 9.0 percent year-on-year, with offline sales up 9.3 percent and online sales up 8.8 percent. Offline sales increased at department stores (up 24.5 percent) and convenience stores (up 5.9 percent), while hypermarkets (down 5.1 percent) and super supermarkets (SSMs) (down 8.0 percent) declined. Department stores and convenience stores extended their growth streaks to 11 consecutive months since July 2025. Department store sales increased across all categories, including premium international brands, fashion and apparel, and accessories, as foreign tourist visits increased and consumer sentiment improved. Convenience store sales also rose, as early-summer weather boosted sales of beverages and other processed foods, while higher customer traffic lifted non-food sales, including household goods. Hypermarket sales declined despite higher sales of home appliances, cultural goods, and fashion items during May, Family Month, as sales of food, their core category, remained sluggish. SSM sales also fell for a sixth consecutive month as food sales stayed weak. Online sales posted steady growth, supported by improved consumer sentiment, Family Month demand, and food demand, with gains led by home appliances, children’s products, food, and services. Sales shares by channel were 58.6 percent for online retailers, 16.7 percent for department stores, 14.8 percent for convenience stores, 8.1 percent for hypermarkets, and 1.8 percent for SSMs. date2026-06-24

Korea to Clear Certification Barriers and Open Global Markets as It Seeks Top-Five Exporter Status

The government will step up support for K-consumer goods SMEs, helping them secure overseas certifications and reach global markets through distribution platforms. Through these measures, the government aims to move Korea beyond K-shaped export growth, where gains are concentrated among certain companies and products, and achieve “Exports for All.” Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired the Second Public-Private Meeting on Export Expansion on June 24, 2026. MOTIR announced three agenda items: the Comprehensive Strategy to Support Exporting Companies with Overseas Certification; Support Measures for Halal Market Entry to Diversify Consumer Goods Exports ; and the Plan to Build Integrated Export Platforms for Distribution and K-Consumer Goods. The meeting brought together government officials, export support agencies, distribution companies, and consumer goods SMEs to discuss joint efforts to address overseas certification difficulties and expand K-consumer goods exports. In his opening remarks, Minister Kim said, “Amid external uncertainty, ‘Exports for All’ is essential for Korea to secure its place among the world’s top five exporters. Export gains should not be limited to certain companies or products, but shared more broadly.” He added, “The public and private sectors will work together and make every effort to help K-consumer goods SMEs clear overseas certification barriers and reach markets around the world through distribution platforms.” Comprehensive Strategy to Support Exporting Companies with Overseas Certification Under the strategy, the government will reduce the burden on companies seeking overseas certifications. It will increase the number of foreign test reports and certificates that can be issued in Korea from 212 to 500 by 2028, giving companies wider access to certification services at home without having to visit overseas certification bodies. It will also use export vouchers for certifications taking more than one year and raise the reimbursement rate for unsuccessful attempts from 50 percent to 70 percent. The AI-powered KnowTBT portal (www.knowtbt.kr) will serve as a single source of information on overseas certifications and technical regulations. It will also offer tailored services, including support with certification applications and links to voucher programs. The government will expand consulting to 2,000 companies by 2027, with experts supporting them from product development and process design through risk assessment and certification. The Korean Agency for Technology and Standards (KATS), Korean diplomatic missions overseas, the Korea Trade-Investment Promotion Agency (KOTRA), and other institutions will work as a “One Team” to swiftly resolve difficulties with foreign regulators’ unreasonable certification requirements. The government will also set up certification support desks at KOTRA’s trade offices in 20 major countries and establish a legal basis for systematic business support by enacting legislation on responses to and support for technical barriers to trade (TBT). Support Measures for Halal Market Entry to Diversify Consumer Goods Exports  The Korea International Trade Association (KITA) will implement support measures to help K-consumer goods enter halal markets. KITA will facilitate exchanges between Korean and overseas halal certification bodies. This will help Korean bodies expand recognition agreements to Middle Eastern countries, including Saudi Arabia and the United Arab Emirates (UAE), and extend their coverage to cosmetics, daily necessities, and other products. Using its Southeast Asia and Middle East branches, including those in Indonesia and the UAE, KITA will operate overseas halal support centers, tentatively named K-Halal Bridge, to facilitate cooperation between Korean and overseas halal institut date2026-06-24