Ministry of Trade Industry and Resources

Korea–India Economic Cooperation Conference

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) delivered opening remarks at the Korea–India Economic Cooperation Conference held on February 20, 2026, at the Lotte Hotel in Seoul. The event was attended by approximately 200 participants, including Gourangalal Das, Ambassador of India to Korea, and Shri Rajat Kumar Saini, CEO of the National Industrial Corridor Development Corporation of India (NICDC), as well as officials and representatives from government agencies, institutions, and companies of both countries.   Trade Minister Yeo stated, “Korea will work with the Indian government to conclude key economic cooperation issues, including the upgrade talks on the Korea–India Comprehensive Economic Partnership Agreement (CEPA), to create the best possible conditions for bilateral cooperation.” date2026-02-20

Korea–India Trade and Investment Ties to Open New Avenues with New Southern Policy Partners

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the Korea–India Economic Cooperation Conference on February 20, 2026, at Lotte Hotel Seoul. Held under the theme “The Future of Korea–India Economic Cooperation for Shared Prosperity,” the conference examined practical directions for future economic cooperation with India, a country drawing growing attention as a next-generation manufacturing base and key supply chain hub, backed by its vast domestic market and an annual growth rate of 6 to 7 percent. The event brought together approximately 200 participants—including Gourangalal Das, Ambassador of India to the Republic of Korea, and Shri Rajat Kumar Saini, CEO & MD of India’s National Industrial Corridor Development Corporation (NICDC), along with government officials and representatives from companies and institutions, underscoring strong interest on both sides in bilateral economic cooperation. In the presentation session, the Korea Institute for International Economic Policy (KIEP) reviewed recent trends in Korea–India economic and trade cooperation. The institute noted that India has maintained robust growth supported by a large, young population, financial stability, and proactive industrial policies, and emphasized the need to step up collaboration in advanced industries and supply chains. In addition, Korean companies that have successfully entered the Indian market in advanced industries, consumer goods, and content shared their on-the-ground experiences and key outcomes. The Indian government presented India’s investment climate and incentives and outlined policies to foster shipbuilding and maritime industries, suggesting new opportunities for cooperation. A panel discussion followed with participants from the Korea Trade-Investment Promotion Agency (KOTRA), the Korea Institute for Advancement of Technology (KIAT), and the POSCO Research Institute. The panel discussed ways to strengthen Korea–India strategic cooperation and agreed on the need for closer government–industry–research collaboration to maximize synergies in areas where the two countries have complementary strengths, including AI, advanced industries, and aerospace. Trade Minister Yeo underscored that economic cooperation with India “matters more than ever” amid rapid shifts in the global trade environment, describing India as a core New Southern Policy partner and a leading member of the Global South. He added, “India’s GDP—roughly USD 4.0 trillion—is about the same as the combined GDP of the 11 ASEAN countries. Yet Korea’s annual trade with India stands at about USD 25.0 billion, compared with around USD 200.0 billion with ASEAN, which indicates substantial room to expand Korea–India trade.” He said the two countries will broaden their partnership to cover cooperation in AI, digital trade, supply chains, green energy, and manufacturing in response to the new trade environment. He affirmed that “Korea will work with the Indian government to resolve key economic cooperation issues, including the upgrade talks on the Korea–India Comprehensive Economic Partnership Agreement (CEPA), to create the best possible conditions for bilateral cooperation." date2026-02-20

January 2026 Automobile Exports Reach $6.1 Billion, Second-Highest January on Record

In January 2026, automobile export volumes (up 23.4 percent), domestic sales (up 14.0 percent), and production (up 24.1 percent) all increased year-on-year. The gains reflected base effects, as the 2025 Lunar New Year holiday fell on January 25–30, leaving three fewer working days than in 2026, as well as solid exports of eco-friendly vehicles. Automobile exports totaled USD 6.1 billion, up 21.7 percent year-on-year, the second-highest January export value on record. Eco-friendly vehicle exports accounted for 42 percent of the total, led by hybrid vehicles at $1.7 billion (up 85.5 percent) and electric vehicles at $0.8 billion (up 21.2 percent). Export volumes reached 247,000 units, up 23.4 percent year-on-year. Eco-friendly vehicles amounted to 92,000 units (up 51.5 percent), accounting for 37.4 percent of total exports. Domestic sales rose 14.0 percent year-on-year to 121,000 units. Domestically produced vehicles totaled 98,000 units (up 9.6 percent) and imported vehicles totaled 23,000 units (up 37.9 percent). By model, the Sorento, Sportage, and Carnival recorded the highest sales volumes. Eco-friendly vehicle sales increased 48.3 percent year-on-year to 58,000 units, accounting for 47.7 percent of domestic sales. Electric vehicle sales rose to 10,000 units, up 507.2 percent year-on-year. Production rose 24.1 percent year-on-year to 361,000 units on strong exports and domestic sales. By model, the Trax recorded the highest output, followed by the Avante and Kona. Output increased year-on-year across all five domestic automakers, and some automakers that had temporarily suspended plant operations in January 2025 posted production growth of more than 2,000 percent. date2026-02-19

ICT Exports Post Highest-Ever January Performance

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Science and ICT (MSIT, Deputy Prime Minister and Minister Bae Kyung-hoon) announced on February 13, 2026, that Korea’s ICT exports in January totaled USD 29.1 billion, up 78.5 percent year-on-year. Imports rose 20.0 percent year-on-year to $14.1 billion, resulting in a trade surplus of $15.0 billion. In January 2026, ICT exports posted the highest January total and year-on-year growth on record. The increase reflected expanding global demand for AI infrastructure and the ongoing shift toward higher-specification ICT devices. ICT products accounted for 44.1 percent of Korea’s total exports, which stood at $65.9 billion. By product, exports recorded double-digit growth across all major ICT categories: semiconductors (up 102.7 percent), displays (up 19.0 percent), mobile phones (up 75.1 percent), computers and peripherals (up 83.7 percent), and communication equipment (up 26.7 percent). Average daily exports, adjusted for the number of working days, reached $1.2 billion, up 51.9 percent from $0.8 billion a year earlier. Semiconductor exports posted triple-digit growth, supported by continued increases in contract prices for memory chips, including DRAM and NAND, and expanding demand for high-value products such as HBM and DDR5. Display exports rebounded as OLED shipments for new mobile devices gained momentum. Mobile phone exports were led by solid demand for premium finished products. Computers and peripherals posted double-digit growth for two consecutive months on strong demand for data center SSDs. Communication equipment exports increased for the seventh straight month, driven by higher automotive equipment exports to the United States and components to Vietnam, Japan, and other Asian markets. By destination, exports increased in all major markets: the United States (up 110.7 percent), China, including Hong Kong (up 94.5 percent), Taiwan (up 91.6 percent), Vietnam (up 63.6 percent), the European Union (up 30.8 percent), Japan (up 21.0 percent), and India (up 4.5 percent). In particular, exports to the United States posted triple-digit growth, led by semiconductors (up 188.7 percent). ICT imports totaled $14.1 billion in January 2026, up 20.0 percent from $11.8 billion a year earlier, as imports increased across all major ICT categories: semiconductors (up 22.2 percent), displays (up 30.4 percent), mobile phones including parts (up 31.4 percent), computers and peripherals (up 11.8 percent), and communication equipment (up 24.4 percent). date2026-02-13

Meeting with AMCHAM Korea

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with AMCHAM Korea at the Grand Hyatt Seoul in Seoul, on February 12, 2026. The meeting was held in the presence of AMCHAM Korea Chairman & CEO James Kim and representatives from 80 member companies. During the session, Minister Yeo delivered opening remarks and discussed the Korean government’s approach to maintaining a stable Korea–U.S. trade environment and strengthening bilateral cooperation. He assured that “the Korean government will faithfully implement the Korea–U.S. tariff agreement and share key updates with the U.S. government and businesses to maintain a stable Korea–U.S. trade environment and strengthen economic cooperation.” date2026-02-12

Deputy Minister for Trade Meets with Italy’s Undersecretary of State for Foreign Affairs and International Cooperation

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Maria Tripodi, Italy’s Undersecretary of State for Foreign Affairs and International Cooperation, at the Seoul Government Complex on February 11, 2026. The two sides discussed follow-up measures to translate the outcomes of the Korea–Italy summit held on January 19, 2026, into tangible results for bilateral cooperation. Deputy Minister Park said the meeting “marked an important step toward implementing the outcomes of Italy’s first presidential visit to Korea in 19 years,” adding that the Italian government had indicated it would review its newly introduced tax credit scheme to ensure that partner countries, including Korea, are not excluded. date2026-02-12

Korea–Netherlands 2+2 Foreign and Industry High-Level Dialogue

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the Korea–Netherlands 2+2 Foreign and Industry High-Level Dialogue held at 12:00 p.m. on February 11, 2026, at the Ministry of Foreign Affairs in Seoul.  The meeting brought together Foreign Minister Cho Hyun; David van Weel, Minister of Foreign Affairs of the Kingdom of the Netherlands; and Aukje de Vries, Minister for Foreign Trade and Development Cooperation of the Netherlands, along with government delegations from both countries. Following opening remarks, the ministers discussed ways to deepen bilateral cooperation in economic security, AI, cyber and emerging technologies, the semiconductor industry, and critical raw materials. date2026-02-12

SEMICON Korea 2026 Opening Ceremony

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the opening ceremony of SEMICON Korea 2026 on February 11, 2026, at COEX in Gangnam, Seoul.  The event was also attended by Ajit Manocha, President and CEO of SEMI; Cha Ji-hyun, President of SEMI Korea; and Song Jae-hyuk, President and Chief Technology Officer (CTO) of Samsung Electronics’ semiconductor (DS) division, along with more than 550 domestic and international semiconductor companies across 2,409 booths. In his opening remarks, Vice Minister Moon said, “The government will offer incentives aligned with global standards, following the recent enactment of the Special Act on Semiconductors,” adding, “We will be a strong backbone for the industry so stakeholders can continue research without disruption and invest boldly.” date2026-02-12

MOTIR and AMCHAM Discuss Cooperation to Maintain a Stable Korea–U.S. Trade Environment

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with representatives of member companies of the American Chamber of Commerce in Korea (AMCHAM Korea), including U.S.-invested companies, on February 12, 2026, to discuss the Korean government’s approach to maintaining a stable Korea–U.S. trade relationship and strengthening bilateral cooperation. Held at AMCHAM Korea’s invitation, the meeting featured a Q&A session between Trade Minister Yeo and James Kim, Chairman & CEO of AMCHAM Korea. In his opening remarks, Trade Minister Yeo thanked U.S. companies for their continued investment, noting that U.S. investment in Korea reached a record high in 2025. He stated, “The Korean government will faithfully implement the Korea–U.S. tariff agreement and share key updates with the U.S. government and businesses to maintain a stable bilateral trade environment and strengthen economic cooperation.” Chairman Kim said, “AMCHAM fully supports the Korean government’s efforts and will continue to coordinate closely with the government so that companies in both countries can operate in a stable and future-oriented environment.” In the Q&A session, the discussion focused on the Korean government’s policy direction in response to recent changes in the trade environment, efforts to strengthen Korea–U.S. investment cooperation, and measures to improve the foreign direct investment climate. The Korean government reiterated its commitment to gather views from foreign-invested companies and other stakeholders throughout the rollout of related policies. In 2026, MOTIR will continue to foster a predictable investment environment for foreign investors and maintain close communication with the United States to ensure stable Korea–U.S. trade relations. date2026-02-12

Korea and Italy Discuss Measures to Improve Trade Conditions and Expand Cooperation in Advanced Industries

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Maria Tripodi, Italy’s Undersecretary of State for Foreign Affairs and International Cooperation, on February 11, 2026, at the Seoul Government Complex to discuss follow-up measures to implement the outcomes of the Korea–Italy summit held on January 19, 2026. The two sides shared the view that a sustainable business platform is needed to deepen collaboration between the private sectors, along with improved investment conditions to facilitate market entry. They also exchanged views on priority areas and timelines for stepping up cooperation in advanced industries, including semiconductors and AI. They discussed cooperation to jointly engage in third countries, including Africa, to strengthen critical mineral supply chains. The two sides agreed to keep communication channels open and to regularly review progress in implementing the summit outcomes, further solidifying their strategic partnership in trade and industry. Deputy Minister Park noted that “the meeting marked an important step toward implementing the outcomes of Italy’s first visit by an Italian prime minister to Korea in 19 years.” He added that “the Italian government has indicated that it will review its newly introduced tax credit scheme to ensure that partner countries, including Korea, are not excluded,” expressing his hope that the matter would be resolved promptly. He also asked for Italy’s active cooperation to ease uncertainty for Korean companies entering the Italian market and to help joint initiatives on future industries highlighted at the summit deliver tangible results. date2026-02-11