Ministry of Trade Industry and Resources

Vice Minister Moon Attends the Opening Ceremony of InterBattery 2026

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the opening ceremony of InterBattery 2026 at COEX in Seoul on March 11, 2026. During the event, Vice Minister Moon delivered welcoming remarks and took part in a ribbon-cutting ceremony to mark the opening of the exhibition. The event was attended by National Assembly members Lee Cheol-gyu and Kim Won-I; Uhm Ki-cheon, Chairman of the Korea Battery Industry Association (K-BIA); Choi Ik-kyu, Executive Vice President of Samsung SDI, Kim Woo-seop; Executive Vice President of LG Energy Solution; as well as heads of organizing institutions and representatives of participating companies.  Vice Minister Moon described batteries as the “heart of advanced industries” and said the government would continue to support the industry so that K-batteries can maintain their leadership. He added that the government and industry would work as one team to respond to developments in R&D and major countries’ trade policies. date2026-03-12

Advanced Semiconductor Materials Production Expands Beyond the Capital Region

Kim Seong-yeol, Deputy Minister for Industry and Growth at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended the completion ceremony for JK Materials Sejong Campus on March 12, 2026, where he toured the company’s semiconductor materials production facilities and heard the views of industry representatives. The new campus will establish a production base in Sejong for key materials, including raw materials used in photoresists used in semiconductor lithography, advanced packaging materials for HBM, and OLED display films. The move is expected to help broaden Korea’s semiconductor industry beyond the Seoul metropolitan area and strengthen competitiveness across the broader ecosystem. Driven by AI-driven demand, the global semiconductor market is expected to surpass USD 1 trillion for the first time this year, with the market for semiconductor materials, parts, and equipment also set to expand. The government will help channel the current boom in memory chips, which are posting record earnings, into broader growth across the materials, parts, and equipment sector. To that end, MOTIR will back the establishment of a production-linked Trinity Fab for demonstration testing, develop investment incentives under the Special Act on Semiconductors, and step up support for regional semiconductor clusters and workforce development tailored to local industry needs. In his congratulatory remarks, Deputy Minister Kim noted that “Korea’s world-class semiconductor manufacturing capabilities can help accelerate the localization of semiconductor materials, parts, and equipment.” He added that “the government will focus on strengthening the supplier ecosystem, expanding demand-linked R&D, improving the investment environment, and training future semiconductor talent.” date2026-03-12

February ICT Exports and Trade Surplus Hit Record Highs, with Exports Up 103.3%

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 March 13, 2026, that Korea’s ICT exports in February totaled USD 33.6 billion, up 103.3 percent year-on-year. Imports rose 19.6 percent year-on-year to $13.1 billion, resulting in a trade surplus of $20.6 billion. In February 2026, ICT exports posted the highest February total on record and recorded triple-digit growth for the first time for the month, despite three fewer working days than a year earlier due to the Lunar New Year holiday. ICT products accounted for 49.8 percent of Korea’s total exports, which stood at $67.5 billion. By product, exports increased for semiconductors (up 160.8 percent), mobile phones (up 16.9 percent), and computers and peripherals (up 187.8 percent), but decreased for displays (down 7.5 percent) and communication equipment (down 9.0 percent). Semiconductor exports remained above $20 billion for the third consecutive month, as memory prices continued to rise and exports of high-value products increased amid expanding global demand for AI servers. Mobile phone exports rose on initial shipments following new product launches and stronger demand for premium smartphones. Computers and peripherals posted triple-digit growth for the fourth consecutive month, reflecting solid SSD demand and higher prices amid continued investment in AI infrastructure. Display exports declined despite expanded OLED supply for smartphones, as demand for IT devices remained weak and competition in the LCD market intensified. Communication equipment exports also fell, as shipments of automotive electronics equipment and wireless communications device parts to key markets, including the United States and Vietnam, declined. By destination, exports increased in all major markets: the United States (up 200.7 percent), China, including Hong Kong (up 109.9 percent), Taiwan (up 98.8 percent), the European Union (up 78.1 percent), Vietnam (up 44.0 percent), Japan (up 37.3 percent), and India (up 9.9 percent). ICT imports totaled $13.1 billion in February 2026, up 19.6 percent from $10.9 billion a year earlier, as imports increased across most major ICT categories: semiconductors (up 19.3 percent), displays (up 13.6 percent), mobile phones including parts (up 96.0 percent), and computers and peripherals (up 52.2 percent). date2026-03-12

Korea to Join IEA Collective Action, Release 22.46 Million Barrels of Emergency Oil Stocks

The International Energy Agency (IEA) decided at an emergency Governing Board meeting on March 11, 2026, to implement the Collective Action proposed the previous day to release 400 million barrels of emergency oil stocks. Korea has been allocated 22.46 million barrels, or 5.6% of the total, for release. The IEA approved the largest coordinated stock release in its history to help ease the global energy supply crisis, which has been intensifying amid recent developments in the Middle East. National release volumes were calculated in proportion to each member country’s share of total oil consumption across all IEA members. Korea’s allocation amounts to 22.46 million barrels, or 5.6% of the total 400 million barrels. This is the largest volume ever allocated to Korea, surpassing the 4.94 million barrels released during the 1990 Gulf War. This latest IEA Collective Action will mark the first coordinated stock release in about four years, following the joint release carried out during the 2022 Russia–Ukraine war. It also exceeds the combined 11.65 million barrels released in the two IEA-led stock releases at that time. The government will consult with the IEA Secretariat on specific details, including the timing and volume of the release, in line with Korea’s national interest and domestic circumstances. It will also work closely with the IEA and other major countries to help stabilize the international oil market and respond to high oil prices stemming from the situation in the Middle East, with the aim of minimizing the impact on the broader economy and consumer prices. date2026-03-12

InterBattery 2026 Opens in Seoul, Showcasing the Future of the Global Battery Industry

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will host InterBattery 2026, Korea’s largest international battery exhibition, at COEX in Seoul from March 11 to 13, 2026. Now in its 14th year, the event will bring together 667 companies from Korea and abroad across the battery value chain—including Korea’s three major battery manufacturers as well as materials, parts, and equipment firms—to showcase the latest technologies and products. The 2026 exhibition will be attended by governments, research institutes, and companies from 14 countries, including the United States, Australia, Canada, Germany, China, Japan, and the Netherlands, further strengthening the event’s status as a global platform for cooperation and exchange. The program will also include discussions on Korea–U.S. cooperation on battery technologies for defense applications, business networking among Korean and German battery researchers, and supply-chain cooperation with Australia on critical minerals. Amid short-term market changes in the battery industry, including slowing demand for electric vehicles, the exhibition will highlight energy storage systems (ESS) as a key alternative, with ESS growing rapidly alongside the expansion of renewable energy and the AI transition. Participants will discuss strategies for expanding ESS businesses and related technology trends. They will also examine market strategies to respond to changes in the global trade and regulatory environment, including U.S. tariff policies and the EU Battery Regulation. The event will also highlight next-generation technologies expected to reshape the industry, including all-solid-state batteries, sodium batteries, and silicon anode materials. It will also spotlight key safety technologies, including thermal runaway mitigation, structural design, and materials innovation. In addition, the exhibition will explore battery applications in emerging industries such as defense, robotics, and urban air mobility (UAM), underscoring the role of batteries as a driver of new growth beyond their function as components. This year’s event will go beyond technology displays to offer programs that strengthen business linkages across the battery industry. A procurement consultation program featuring purchasing managers from Korea’s three battery makers will help materials, parts, and equipment firms gain access to battery supply chains. IR pitching sessions with invited venture capital firms will also give startups opportunities to attract investment. In addition, a battery job fair will provide an all-in-one employment support package, including intensive one-on-one job mentoring. At the opening ceremony, Vice Minister Moon Shin-hak of MOTIR described batteries as the “heart of advanced industries,” noting that “the industry is facing both challenges—such as slower EV demand and uncertainty in the global trade environment—and new opportunities from expanding demand and supply chain realignment,” and added that “the government will continue to support the industry so that K-batteries can maintain their leadership.” He stated, “We will stimulate downstream demand by expanding the ESS market and introducing a battery leasing system, while also pursuing a production tax credit for the battery sector to strengthen the domestic production base. In addition, we will build a battery triangle belt spanning critical minerals, materials, and mother factories to help position Korea as a global hub for battery manufacturing.” Vice Minister Moon also said, “The government and industry will work as one team in responding to changes in the R&D landscape and shifts in major countries’ trade policies.” date2026-03-11

MOTIR Expands Global R&D Program to Support Manufacturing AX and Industrial Innovation

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced on March 9, 2026, that it had released the 2026 comprehensive implementation plan for its International Industrial Technology Cooperation Program, which supports joint R&D between Korean industry, academia, and research institutes and leading overseas research organizations. To accelerate innovation by Korean companies, help them secure advanced technologies from abroad, and support their entry into overseas markets, MOTIR increased the 2026 budget for the program by KRW 23.3 billion, or 11 percent, from KRW 209.9 billion in 2025. The 2026 program will be carried out through four programs: establishing global industrial technology cooperation centers (KRW 127.4 billion); international joint technology development (KRW 91.4 billion); global industrial technology linkages (KRW 7.5 billion); and building international cooperation infrastructure (KRW 5.9 billion). Under the global industrial technology cooperation centers program, MOTIR will establish cooperation hubs at overseas research institutions with world-class capabilities. The program will provide Korean companies with stable, long-term cooperation channels and support joint R&D to help secure next-generation industrial core technologies. It will support mid- to long-term, large-scale joint R&D projects for up to five years, with up to KRW 10 billion available per project. In 2026, MOTIR plans to designate one new cooperation center and begin supporting 19 research projects. In particular, MOTIR will launch a dedicated M.AX program in 2026 to accelerate the AI transformation of Korea’s manufacturing sector as Korea moves to become a global leader in manufacturing AX by 2030. The international joint technology development program will support three types of projects: bilateral funding based on agreements between the Korean government and partner governments; multilateral funding involving multiple countries through global joint research platforms such as EUREKA; and strategic technology projects linked to the procurement needs of global companies. Under the global industrial technology linkage program, MOTIR will also support joint research between foreign-invested companies and Korean institutions to facilitate the adoption of leading overseas technologies in Korea. In addition, MOTIR will support technology cooperation forums with major partner countries and provide consulting for Korean companies by drawing on overseas Korean engineers and scientists under the international cooperation infrastructure program. Further details on the integrated notice are available on the MOTIR website (www.motir.go.kr) and the Korea Institute for Advancement of Technology (KIAT) website (www.kiat.or.kr). MOTIR will also hold briefing sessions in the Chungcheong, Honam, Dongnam-Daegyeong, and Seoul metropolitan regions for prospective applicants. date2026-03-09

MOTIR Minister and Trade Minister Visit Washington for Tariff Talks with the United States

Minister JK (Jung-Kwan) Kim and Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR) traveled to Washington D.C. on March 6, 2026, for discussions with U.S. officials on tariffs and other trade matters. The visit followed a recent court ruling against tariffs imposed under the International Emergency Economic Powers Act (IEEPA) and sought to reduce uncertainty over U.S. tariff policy while advancing implementation of the Korea–U.S. tariff deal. Minister Kim met with U.S. Secretary of Commerce Howard Lutnick to share Korea’s progress in implementing the tariff deal and discuss legislative efforts to enact a special law for investment in the United States. The two sides also discussed strengthening strategic investment cooperation. Minister Kim reiterated Korea’s position that the bilateral tariff deal must continue to be effectively upheld as the United States advances tariff measures following the IEEPA ruling, including under Section 122 of the Trade Act and Section 232 of the Trade Expansion Act. On the same day, Trade Minister Yeo met with U.S. Trade Representative Jamieson Greer to discuss the implementation plan of the non-tariff commitments set out in the joint factsheet issued on November 14, 2025. The two sides agreed to convene a Joint Committee under the Korea–U.S. FTA at a mutually agreed time to finalize the plan. They also discussed developments related to Sections 122 and 301 of the Trade Act. Trade Minister Yeo reiterated the Korean government’s position that the Section 301 petition filed by U.S. investors of Coupang should not negatively affect bilateral trade relations. Going forward, MOTIR will continue its constructive consultations with the United States on key trade issues to help maintain a stable trade environment and minimize uncertainty for Korean companies. date2026-03-08

Minister JK Kim Meets Canada’s Minister of Industry

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Mélanie Joly, Canada’s Minister of Industry, in Windsor, Ontario, on March 5, 2026. The meeting took place on the sidelines of the completion ceremony for LG Energy Solution’s NextStar Energy battery plant. The two sides discussed concrete industrial cooperation related to Canada’s submarine program, for which Hanwha Ocean has submitted a business proposal. Minister Kim said, “Just as LG Energy Solution had delivered on its investment and employment commitments, Korea and Canada should build a long-term partnership based on mutual trust through cooperation on the submarine project,” adding that “MOTIR would continue to mobilize public- and private-sector capabilities to support Korean companies until one is named the preferred bidder for the project.” date2026-03-06

Trade Minister Yeo Meets MERCOSUR Ambassadors in Korea

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR) attended a meeting with the ambassadors of four MERCOSUR countries—Argentina, Brazil, Paraguay, and Uruguay—held at the Korea Chamber of Commerce and Industry (KCCI) in Seoul on March 5, 2026.  During the meeting, participants discussed ways to strengthen economic and trade cooperation between Korea and MERCOSUR, including the Korea–MERCOSUR Trade Agreement (TA). Minister Yeo stressed that MERCOSUR is an important partner for Korea in diversifying markets and strengthening supply chain stability, and that it is important to strengthen the Korea–MERCOSUR trade networks to expand bilateral trade and investment and to create a stable, forward-looking trade environment for businesses.  date2026-03-06

Minister JK Kim Attends NextStar Energy Plant Completion Ceremony

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the completion ceremony for LG Energy Solution’s NextStar Energy battery plant in Windsor, Ontario, on March 5, 2026.  The ceremony was attended by LG Energy Solution CEO Kim Dong-myung; Canada’s Minister of Industry Mélanie Joly; Doug Ford, Premier of Ontario; Drew Dilkens, Mayor of Windsor; and other officials. Minister Kim noted, “It is especially meaningful that the NextStar Energy plant—now a symbol and milestone of bilateral industrial cooperation—had been built in Ontario, one of the provinces that sent troops to help defend Korea’s freedom and protect its people.” date2026-03-06