Ministry of Trade Industry and Resources

Trade Minister meets Malaysia’s Minister of Investment, Trade, and Industry

Minister for Trade Inkyo Cheong met with Malaysia’s Minister of Investment, Trade, and Industry Datuk Seri Utama Tengku Zafrul Aziz on May 15 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed bilateral trade issues including the progress on the Korea-Malaysia FTA negotiations. date2025-05-15

Trade Minister meets Assistant Minister of Chinese Ministry of Commerce

Minister for Trade Inkyo Cheong met with Assistant Minister Li Chenggang of the Chinese Ministry of Commerce on May 15 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed bilateral economic cooperation and trade issues including negotiations on the service and investment sectors of the Korea-China FTA. date2025-05-15

Trade Minister meets Mexico's Undersecretary of Foreign Trade

Minister for Trade Inkyo Cheong met with Mexico's Undersecretary of Foreign Trade Luis Rosendo Gutiérrez Romano on May 14 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed bilateral economic cooperation. date2025-05-15

Korea and Philippines sign MOU for trade, energy, and economic cooperation

Minister for Trade Inkyo Cheong held an MOU signing ceremony with Philippine Trade and Industry Secretary Maria Cristina Aldeguer-Roque on May 14 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting for bilateral cooperation in trade, economy, and energy. date2025-05-15

Minister Ahn awards companies at 22nd Automotive Day

Korea’s Minister of Trade, Industry and Energy attended the 22nd Automotive Day on May 14 in Seoul with the participation of 200 industry representatives and awarded 34 medals and orders of merit including the Silver Tower Order of Industrial Service Merit, which went to Anjun Industrial Co. for its contribution to the mass production of Korea’s first hybrid vehicle hollow stem valve. date2025-05-15

Trade Minister meets Philippine Trade and Industry Secretary

Minister for Trade Inkyo Cheong held bilateral talks with Philippine Trade and Industry Secretary Maria Cristina Aldeguer-Roque on May 14 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed APEC outcomes and measures to invigorate Korea-Philippine trade and investment. date2025-05-15

Trade Minister attends 1st ASEAN-ROK Think-tank Dialogue on Economic and Trade Policy

Korea’s Minister for Trade Inkyo Cheong attended the first ASEAN-ROK Think-tank Dialogue on Economic and Trade Policy (AKTD) on May 14 on Jeju Island, held with the participation of approximately 100 representatives from Korean and ASEAN major think tanks, the ASEAN Secretariat, Economic Research Institute for ASEAN and East Asia (ERIA), the Asia Foundation, Yonsei University, and the Korea-Southeast Asia Policy Cooperation Center. date2025-05-15

Minister Ahn attends 2025 Osaka-Kansai World Expo

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn attended the “Korea Day” events at the 2025 Osaka-Kansai World Expo on May 13 with both governments’ delegations and business leaders, where he gave an opening address and visited the Korea Pavilion and other major exhibition booths.  date2025-05-15

Global trade leaders gather on Jeju Island for 2025 APEC MRT Meeting

Korea’s Ministry of Trade, Industry and Energy (MOTIE) is holding the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) meeting from May 15–16 at the International Convention Center Jeju (ICC Jeju). As Korea is resuming APEC chairmanship in 20 years since 2005, Minister for Trade Inkyo Cheong is chairing the MRT meeting with the participation of trade ministers from 21 major economies in the Asia-Pacific region, including Australia, Canada, Chile, China, Japan, and the U.S., as well as the WTO Director-General and the OECD Deputy Secretary-General. Amid the rapidly shifting global trade environment, this year’s APEC MRT meeting is the trade ministers’ first official gathering for multilateral cooperation. Discussions will cover various trade issues and intraregional cooperation measures, such as the liberalization and facilitation of trade and investment. In line with the 2025 APEC theme of “Building a Sustainable Tomorrow: Connect, Innovate, Prosper,” the MRT meeting consists of three sessions on the following topics: AI innovation for trade facilitation, connection through multilateral trade, and prosperity through sustainable trade.  In the first session, participants address wide-ranging measures for cooperation to catalyze AI utilization in trade areas such as AI application and standard information sharing in the field of tariffs and customs, with OECD Deputy Secretary-General Yoshiki Takeuchi as the keynote speaker. The second session focuses on WTO reform and role of APEC in restoring the multilateral trade system, with WTO Director-General Ngozi Okonjo-Iweala speaking on WTO reform and future cooperation for multilateral trade. The last session on prosperity through sustainable trade, to convene on May 16, will have participants exchange views on measures for joint efforts in establishing a sustainable supply chain, including climate crisis response. In his opening message, Trade Minister Cheong noted the current difficult external environment surrounding APEC and stated that the need for APEC is greater than ever considering the severe global trade situation. He further expressed hope that this MRT meeting will serve as a platform for communication and cooperation that contributes to resolving political and economic tensions and uncertainties that the world is facing today.   date2025-05-15

Korea’s ICT exports grow 10.8% in April

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) announced today that Korea’s exports of information and communications technology (ICT) goods for the month of April 2025 gained 10.8 percent year-on-year to USD 18.9 billion, while imports inched down 2.4 percent to $11.3 billion. The trade balance netted a surplus of $7.6 billion. Despite global trade uncertainties, April ICT exports saw solid growth momentum overall with semiconductors (up 17.2 percent to $11.7 billion) hitting all-time highs for the month. Mobile phones (up 28.6 percent) and communication devices (up 3.5 percent) likewise advanced, whereas exports of displays (down 7.6 percent) and computers/peripherals (down 11.9 percent) retreated. The growth of semiconductor exports is attributable to the rebound in fixed prices of DRAMs and heightened demand for high value-added chips like HBMs and DDR5s. Mobile phones maintained an upward trajectory powered by finished products’ export recovery and robust demand from overseas parts manufacturers. Communication device exports advanced on the backs of strong demand for automotive and 5G equipment.  Meanwhile, display exports shrank due to slower demand and an ensuing change in the shipment schedule. Computers/peripherals experienced a temporary slowdown in demand from increased inventory levels, exports turning to a contraction for the first time in 16 months. By region, Korea’s April ICT exports expanded to the U.S. (up 0.5 percent), Vietnam (up 13.4 percent), the EU (up 14.7 percent), and Japan (up 8.5 percent), whereas those to China (including Hong Kong) (down 1.5 percent) slid.   date2025-05-14