Ministry of Trade Industry and Resources

Korea and Canada Step Up Cooperation in Strategic Industries

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) held the Korea–Canada Energy Security Leadership Dialogue in Seoul on March 31, 2026, on the occasion of the visit to Korea this week by the Team Canada Trade Mission, led by Maninder Sidhu, Canada’s Minister of International Trade. The meeting focused on ways to stabilize energy and resource supply chains between the two countries and expand cooperation in strategic industries. Participants included Minister Kim, Minister Sidhu, Canadian Ambassador to Korea Philippe Lafortune, and representatives from major energy and resource companies from both countries. The two ministers shared the view that Korea and Canada should deepen cooperation centered on stable energy and resource supplies, diversification of energy sources, and stronger global partnerships at a time of growing uncertainty in global energy and resource supply chains amid the recent conflict in the Middle East. They also shared the understanding that Korea and Canada are complementary partners capable of driving new growth through strategic industrial cooperation, including in resources and minerals. Minister JK Kim said, "In a new era of uncertainty, if a resource-rich country like Canada and a manufacturing powerhouse like Korea combine their respective strengths, they can build resilient supply chains capable of weathering global crises," and proposed that the two countries strengthen cooperation in energy and resources, including LNG, critical minerals, and nuclear power.” Minister Kim also stressed that proactive cooperation would be essential to maximizing the two countries’ potential in future strategic industries, and said that Canada’s submarine program could provide a powerful new impetus for deeper bilateral cooperation in those sectors. In this regard, he reiterated that Hyundai Motor’s project linking hydrogen production, refueling, and mobility—leveraging Canada’s hydrogen resource potential—could serve as a mutually beneficial model for strategic industrial cooperation between the two countries, and asked for Canada’s favorable consideration. Meanwhile, Trade Minister Yeo Han-koo is set to attend a reception for the Team Canada Trade Mission on April 1, 2026. The event will bring together some 500 leading figures from the two countries’ business communities to explore opportunities to expand mutually beneficial cooperation in key business sectors. On the sidelines of the event, he also plans to meet again with Minister Sidhu, following their bilateral meeting on March 28, 2026, at the 14th WTO Ministerial Conference, to continue follow-up discussions on the outcomes of the ministerial conference as well as bilateral and multilateral trade issues, including Korea–Canada economic and trade matters. Trade Minister Yeo will also note that this visit marks the Team Canada Trade Mission’s first return to a country it previously visited, coming two years after its April 2024 visit to Korea—underscoring the strong interest and commitment from industry in both countries toward Korea–Canada industrial cooperation. He will also express the government’s commitment to actively supporting efforts to deliver tangible outcomes in strategic industries such as defense and automobiles through high-level communication channels. date2026-03-31

Korea, Uzbekistan Discuss Expanding Economic Cooperation

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Ilzat Kasimov, Deputy Minister of Investment, Industry and Trade of Uzbekistan, in Seoul on March 31, 2026, to discuss expanding bilateral economic cooperation in industry and supply chains. The talks came ahead of the Korea–Central Asia Summit, amid growing momentum in Korea–Central Asia cooperation. The two sides shared the view that cooperation in industry, trade and investment should be expanded. They also agreed to continue developing specific agenda items through existing channels, including the Korea–Uzbekistan Joint Committee on Trade and Economic Cooperation. In addition, they discussed the need to expand cooperation on critical minerals in response to shifts in global supply chains. The Korean side noted the need to support the smooth operations of Korean companies in Uzbekistan. The Uzbek side expressed hope for increased investment by Korean companies and noted the potential for cooperation across a range of sectors, including manufacturing and infrastructure. “Uzbekistan is a key economic partner for Korea in Central Asia,” Deputy Minister Park said. “Building on the momentum in Korea–Central Asia cooperation, we will continue to broaden cooperation in industry, supply chains and investment.” Deputy Minister Park also asked for the Uzbek government’s attention and cooperation in helping Korean companies operate smoothly and address business difficulties. date2026-03-31

MOTIR Holds First Foreign Investment Caravan of 2026

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the first Foreign Investment Caravan of 2026 in Cheonan, South Chungcheong Province, on March 31, 2026. The Caravan is an on-site outreach program for foreign-invested companies aimed at encouraging follow-on investment. Through the program, MOTIR gathers input on business difficulties, addresses investment-related concerns, and provides information on available investment support policies. The nationwide Caravan delivered tangible results in 2025, reaching 129 foreign-invested companies and identifying new investment demand totaling USD 1.68 billion, along with 53 regulatory improvement tasks. Building on those results, MOTIR plans to hold four Caravans in 2026 across four major regions. To help translate consultations into actual investment, the ministry will identify high-potential target companies in advance and offer one-on-one tailored consultations. This year’s program is designed not only to answer routine questions and address business difficulties, but also to put in place a more hands-on support system that can lead to additional investment. The event brought together about 60 participants, including representatives of 22 foreign-invested companies in the Chungcheong region, such as Air Liquide, Corning, and Merck; officials from MOTIR, Chungcheongnam-do, Chungcheongbuk-do, and Daejeon Metropolitan City; and representatives from the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Industrial Complex Corporation (KICOX). Participants took part in three parallel programs: a briefing on support policies for foreign-invested companies, a roundtable on business difficulties, and one-on-one tailored consultations. “In line with the Five Mega-Regions and Three Special Self-Governing Provinces initiative, we will focus on strategically attracting competitive, high-potential companies in advanced industries, supply chains, AI transformation (AX), and green transformation (GX), while substantially strengthening incentives for investment in non-metropolitan regions to support regional growth,” said Nam Myung-woo, Director General for Cross-Border Investment Policy at MOTIR. “With uncertainty rising both at home and abroad, including from recent developments in the Middle East, close communication with companies on the ground is more important than ever.” Following the Chungcheong event, MOTIR will hold additional Caravans in the capital region and other parts of the country to step up its efforts to attract foreign investment to Korea. date2026-03-31

Minister JK Kim Holds Meeting with FKTU President

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Kim Dong-myeong, president of the Federation of Korean Trade Unions (FKTU), on March 30, 2026, at FKTU headquarters following a request from the union. The meeting was the first between Korea’s industry minister and the FKTU president since 2006. Minister Kim said, “As the war in the Middle East becomes prolonged and poses a major challenge to Korea’s economy and industry, labor and management should focus their efforts on overcoming the crisis and put unnecessary workplace disputes on hold.” He also asked labor to join energy-saving efforts to help maintain stable energy supplies. He also called for the union’s cooperation on Manufacturing AI Transformation (M.AX), noting that raising manufacturing productivity through M.AX and responding swiftly to industrial transition are essential to protecting jobs and workplaces. Minister Kim added that expanding corporate investment in the regions is key to creating stable jobs, and that the government will use stronger incentives to encourage more regional investment. He also called for continued dialogue with labor on expanding both flexibility and stability in the labor market to support quality job creation. At the meeting, the FKTU called for stronger support and job retention measures for industries undergoing transition, including petrochemicals and steel, and raised concerns about possible job losses linked to the adoption of AI. MOTIR has established communication channels with labor groups, including the FKTU and the Korean Confederation of Trade Unions (KCTU), to rebuild trust and strengthen labor-management cooperation. The ministry will continue consultations with labor on regional investment and job creation. date2026-03-31

Korea to Advance AI and Other Future Key Industries through K-Standards

As major economies such as the United States, China, and the EU are using national standardization strategies to drive AI and digital transformation, standards are increasingly being used as a key tool in the race for technological leadership. On March 31, 2026, the Korean government finalized the sixth basic plan for 2026–2030 National Standards, which was prepared by 18 ministries and agencies and approved by the National Standards Council chaired by Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR). Under the plan, the government will develop more standards in future industries (K-standards) in line with market demand and strengthen the global competitiveness of Korean industry. With the goal of driving Korea’s innovation-led growth through K-standards, the plan sets out 129 action tasks under the following four strategies, following broad consultations with stakeholders from industry, academia, and research institutions. First, the government will focus on developing international and de facto standards in 18 future core industries, including M.AX Alliance sectors such as future vehicles and robotics, to help Korea secure a leading position in global markets. It will also link R&D more closely with standardization efforts so that research outcomes can be translated into international standards more quickly. In addition, in line with the Korea AI Action Plan announced by the National AI Strategy Committee in February 2026, the government will establish a national AI standardization governance framework and draw up a national AI standardization roadmap within 2026. Second, the government will expand standards that improve safety and convenience in daily life. It will develop standards that help prevent product accidents involving built-in batteries and new types of children’s products, and will strengthen occupational safety and health standards for industrial sites. It will also develop standards to ease day-to-day inconvenience for vulnerable groups, guide the design of performance venues, and set performance requirements for materials used in timber buildings. In addition, it will improve the management system for quantity-labeled products to help prevent shrinkflation. Third, to help exporters respond more systematically to overseas technical regulations, the government will enact legislation to support responses to technical barriers to trade (TBT) and remove unnecessary domestic technical regulations. It will also reform the KS certification system by introducing a review track that does not require factory audits, helping advanced products reach the market faster. To make Korea’s testing and certification industry more reliable and efficient, the government will strengthen the testing capabilities of Korea Laboratory Accreditation Scheme (KOLAS)-accredited bodies and give them more autonomy. Fourth, the government will strengthen strategic standards diplomacy by expanding the number of Korean experts serving in leadership positions at the International Organization for Standardization (ISO), the International Electrotechnical Commission (IEC), and the International Telecommunication Union (ITU) and by holding bilateral standards cooperation forums with countries that have strong standards systems, such as the United States and Germany. It will also continue to train master’s- and doctoral-level standards professionals, including through graduate programs in advanced fields. “Standards will play a critical role as Korea shifts to a more advanced, innovation-driven industrial structure through AI and digital transformation,” said Kim Dae-ja, President of the Korean Agency for Technology and Standards (KATS). “Together with relevant ministries, we will carry out the sixth basic plan for National Standards, accelerate AI and digital transformation, and help create a safer and more convenient everyday enviro date2026-03-31

Deputy Minister Park Meets with Deputy Minister Kasimov of Uzbekistan

Deputy Minister for Trade Park Jung-sung of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Ilzat Kasimov, Deputy Minister of Investment, Industry and Trade of Uzbekistan, in Seoul on March 31, 2026, to discuss bilateral cooperation, as Korea–Central Asia cooperation gains momentum ahead of the Korea–Central Asia Summit. The two sides shared the view that cooperation in industry, trade and investment should be expanded. They also agreed to continue developing the cooperation agenda through existing channels, including the Korea–Uzbekistan trade and economic cooperation committee, and discussed the need to expand cooperation on critical minerals in response to shifts in global supply chains. “Uzbekistan is a key partner for Korea in Central Asia,” Deputy Minister Park said. “Building on the momentum in Korea–Central Asia cooperation, we will broaden cooperation in industry, supply chains and investment.” Deputy Minister Park also asked for the Uzbek government’s cooperation in helping Korean companies operate smoothly and address business difficulties. date2026-03-31

MOTIR–FKTU Roundtable

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the MOTIR–FKTU meeting at the Federation of Korean Trade Unions (FKTU) headquarters in Seoul on March 30, 2026. The meeting was attended by FKTU President Kim Dong-myeong and other union officials. It marked the first meeting between Korea’s industry minister and the head of the FKTU since 2006. Minister Kim said, “The war in the Middle East continues to pose a major challenge to Korea’s economy and industry. Labor and management should focus their efforts on overcoming the crisis and set aside unnecessary labor disputes.” He also called for the union’s cooperation on M.AX (Manufacturing AX) and for continued dialogue on regional investment and job creation.  date2026-03-30

Korea Gains Prominence in WTO Reform Talks and Pushes IFDA’s Incorporation into the WTO Framework

The Korean delegation, led by Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), is helping steer WTO reform talks, build support for incorporating the Investment Facilitation for Development Agreement (IFDA) into the WTO framework, and broaden strategic engagement with key partners at the 14th WTO Ministerial Conference (MC14) in Yaoundé, Cameroon. As the conference is seen as a pivotal moment to restoring the multilateral trading system and setting the direction of future global trade rules, Korea is playing an increasingly prominent role. Trade Minister Yeo Chairs Key WTO Reform Sessions As Minister Facilitator for WTO reform, Trade Minister Yeo Han-koo chaired four sessions on March 26 and 27, 2026, covering fundamental WTO issues, decision-making and past mandates, development and special and differential treatment, and a level playing field, structuring the key issues under each agenda item and leading constructive exchanges among member states. Türkiye Withdraws Opposition, Boosting Prospects for IFDA’s WTO Incorporation Korea is working to build support for incorporating the Investment Facilitation for Development Agreement (IFDA) into the WTO framework at MC14. As co-chair of the IFDA negotiations with Chile, Korea hosted a ministerial side event on March 25, 2026, bringing together major economies and international organizations to discuss the agreement’s value, its potential contribution to development, and support for implementation. In his opening remarks, Trade Minister Yeo highlighted Korea’s experience in improving its investment environment and stressed the importance of a predictable and transparent investment climate. He said the IFDA could provide a solid institutional foundation for attracting investment amid global uncertainty and serve as a practical model for inclusive cooperation for development. Ahead of MC14, Korea held bilateral consultations with India and Türkiye and exchanged letters with both countries in an effort to persuade them to drop their opposition. On March 26, 2026, Türkiye withdrew its opposition at the opening session of MC14, raising expectations for the IFDA’s incorporation into the WTO framework. Expanding Global Networks Through Bilateral Meetings In his role as facilitator of the WTO reform talks, Trade Minister Yeo Han-koo held a series of bilateral meetings with heads of delegation from key economies to build broader support for the multilateral trading system and address issues affecting Korean businesses. With New Zealand, Singapore, the Netherlands, France, and the United Kingdom, he coordinated positions on the WTO reform work plan and digital trade rules. With Paraguay, Uruguay, and Argentina, he discussed supply chain stability and measures to ease non-tariff barriers. “At a time of growing uncertainty in the global trading environment, the multilateral trading system faces a critical test of whether it can deliver tangible results,” Trade Minister Yeo said. He added, “As facilitator of WTO reform discussions and co-chair of the IFDA negotiations, Korea will work through the close of MC14 to help deliver concrete outcomes.” date2026-03-27

MOTIR Reviews Impact of Prolonged Middle East Conflict on Key Export Items and Delivery of Support Measures

The Korean government has stepped in directly to address difficulties facing key export industries, as it moves to minimize export disruptions from the prolonged conflict in the Middle East. Following the launch of a pan-government export support system on March 11, 2026, it is now taking a closer look at sector-specific impacts and stepping up tailored support, including logistics and liquidity assistance. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held a meeting with major exporters at the Korea Trade Insurance Corporation (K-SURE) on March 26, 2026, to review conditions across key sectors and the export outlook in the wake of the war in the Middle East. The meeting was chaired by Na Sung-hwa, Director General for International Trade Policy, and was attended by representatives from eight key industries: semiconductors, automobiles, machinery, petroleum products, petrochemicals, steel, biohealth, and displays. Companies voiced concern over rising freight rates and war-risk surcharges tied to uncertainty in the Strait of Hormuz, as well as possible delays in financing and payments and instability in raw material supplies. To address these concerns, the government will accelerate existing logistics and liquidity support and improve implementation on the ground. First, the government will continue rolling out emergency logistics vouchers. MOTIR is accepting applications through the end of March 2026 for KRW 8 billion in emergency vouchers to help cover international shipping costs, return shipping, war-risk surcharges, and rerouting charges. For companies with a high share of exports to the Middle East, the ministry is also operating a fast-track program that issues vouchers within three days of application. As of March 24, 44 companies had received support. The Ministry of SMEs and Startups (MSS) has also been running a KRW 10.5 billion emergency logistics voucher program since March 20, 2026. The government will also move quickly to provide KRW 24.2 trillion in emergency liquidity support through policy finance institutions. K-SURE has expanded working-capital guarantees for exporters to the Middle East and increased import insurance support for sectors facing urgent raw-material needs, including petrochemicals, from KRW 2.8 trillion in 2025 to KRW 3.4 trillion in 2026. The Financial Services Commission (FSC) is operating financial support programs worth KRW 20.3 trillion, while MSS is providing additional support through its emergency management stabilization funds. The government will further strengthen one-stop support for exporters affected by the Middle East crisis. The Korea Trade-Investment Promotion Agency (KOTRA), the Korea International Trade Association (KITA), and MSS’s regional export support centers will continue sharing local information and coordinating responses, while other ministries step up cooperation on logistics and liquidity issues. In addition, MOTIR will use the supply chain support center launched on March 23, 2026, in response to the situation in the Middle East, to closely monitor supply conditions for items highly dependent on the region and products exposed to knock-on effects, while providing focused support to resolve bottlenecks. The government also plans to expand support for exporters facing difficulties from the prolonged conflict through the supplementary budget now being prepared. “Swift action matters, but so does making sure support is delivered smoothly on the ground,” said Director General Na. “We will closely review each stage of implementation and make adjustments where needed so that measures such as the emergency export vouchers and trade insurance package deliver tangible support for exporters.” date2026-03-26

Korea Hosts Ministerial Side Event on Investment Facilitation for Development Agreement (IFDA)

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) hosted an IFDA side event on the sidelines of the 14th WTO Ministerial Conference (MC-14) in Yaoundé, Cameroon, on March 25, 2026, and delivered opening remarks. The event brought together trade ministers and delegations from WTO members, along with representatives from international organizations engaged in investment facilitation. Discussions focused on the IFDA’s potential to improve the global investment climate and support development. date2026-03-26