Ministry of Trade Industry and Resources

Korean Investment in Canada’s Advanced Manufacturing Marks New Milestone in Strategic Bilateral Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended a ceremony marking the completion of LG Energy Solution’s NextStar Energy battery plant in Windsor, Ontario, Canada, on March 5, 2026. The event was also attended by LG Energy Solution CEO Kim Dong-myung; Canada’s Minister of Industry Mélanie Joly; Doug Ford, Premier of Ontario; and Drew Dilkens, Mayor of Windsor. LG Energy Solution recently acquired Stellantis’ entire stake in the venture and announced plans to expand employment at the plant from 1,300 to 2,500. With the completion of the facility, the company is expected to strengthen its foothold in North America by linking its Michigan and Ontario plants to form the region’s largest ESS manufacturing network. In his congratulatory remarks, Minister Kim called Canada a long-standing friend that stood with Korea in its most difficult times. He added that it was 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. Following the ceremony, Minister Kim met with Minister Joly to discuss concrete industrial cooperation measures related to Canadian Patrol Submarine Project (CPSP), for which Hanwha Ocean submitted a proposal on February 28, 2026. The ministerial meeting was held as a joint public-private initiative, with senior officials from companies including Hyundai Motor Company and outside experts joining the delegation. During the meeting, Hyundai highlighted the importance and potential of Canada’s hydrogen resources and presented cooperation measures to build a hydrogen ecosystem linking production, refueling, and mobility. The two sides noted that this was already their third meeting in four months, reflecting closer ties between the two countries. They also agreed that Canada’s submarine project could provide momentum to broaden and deepen bilateral industrial cooperation. Minister Kim said that, just as LG Energy Solution had delivered on its investment and employment commitments to Canada, the two countries will continue to build a long-term partnership based on mutual trust through cooperation on the submarine project. He added 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

Korea and MERCOSUR Discuss Expanding Economic and Trade Cooperation

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held a meeting in Seoul on March 5, 2026, with the ambassadors of the four MERCOSUR countries—Argentina, Brazil, Paraguay, and Uruguay. The meeting followed up on the Korea–Brazil summit held on February 23, 2026. Building on the outcomes of that summit, the participants discussed ways to advance the Korea–MERCOSUR Trade Agreement (TA) and expand economic and trade cooperation. During the meeting, Minister Yeo described MERCOSUR as South America’s largest economic bloc, with a population of about 270 million, as well as a combined GDP of USD 2.9 trillion, and abundant mineral resources such as lithium and nickel. He stressed that, amid unprecedented shifts in the global trade environment—including rising protectionism and the weaponization of resources—MERCOSUR is an important partner for Korea in diversifying markets and strengthening supply chain stability. Minister Yeo also underscored the importance of strengthening trade networks to expand bilateral trade and investment and to create a stable, forward-looking trade environment for businesses. As key areas of cooperation, he proposed resuming negotiations on the Korea–MERCOSUR TA and strengthening collaboration in emerging sectors, including supply chains. Finally, Minister Yeo called for continued interest and support from MERCOSUR governments for Korean companies operating in the region, including POSCO’s lithium project in Argentina. He also emphasized the need for close consultations between the two sides to help resume negotiations on the Korea–MERCOSUR TA. date2026-03-05

MOTIR Maps Out the Future of K-Humanoid Robotics

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held an AI Robot M.AX Alliance meeting on March 5, 2026, at the Korea Chamber of Commerce and Industry (KCCI). Chaired by Kim Sung-yeol, Deputy Minister for Industry and Growth, the meeting brought together industry and research stakeholders in humanoid robotics—including Hyundai Motor Company, AeiROBOT, Robros, Yuil Robotics, Tesollo, Higen RNM, Seoul National University, the Korea Planning and Evaluation Institute of Industrial Technology (KEIT), and the Korea Electronics Technology Institute (KETI)—to discuss measures to foster Korea’s humanoid robotics industry. With industrial deployment of humanoid robots in sight, the global humanoid robotics market is expanding rapidly. According to global research firm Counterpoint, worldwide humanoid robot sales surpassed USD 500 million for the first time in 2025, and are projected to reach USD 4.4 billion next year. Competition among global companies seeking to capture the emerging market is also intensifying. NVIDIA, traditionally known for AI semiconductors, is expanding into humanoid robot learning and simulation platforms, while Chinese firms such as Unitree are launching mass-produced humanoid robots with strong price competitiveness. Amid the global competition, Korea aims to become a top-three global player through an ecosystem-wide collaboration centered on the AI Robot M.AX Alliance. The Alliance has facilitated joint development projects and technology exchanges among companies, generating a range of collaborative outcomes. At CES 2026, Alliance participants showcased the results of their cooperation by demonstrating AI-enabled humanoid robots performing industrial tasks. Today’s meeting brought together key players across the humanoid robotics ecosystem—including platform developers, AI model developers, and component manufacturers—to assess the current state of Korea’s humanoid robotics industry and discuss policy directions to position Korea as a leading country in the field. At the meeting, MOTIR and participating organizations discussed a range of policy measures, including securing and leveraging training data for humanoid robots; strengthening domestic capabilities in key components such as actuators and robotic hands; expanding field demonstrations in industrial settings; reinforcing industry–academia–research collaboration; and improving regulations to promote the broader adoption of robotics. Deputy Minister Kim stated, “As proven by the global response to Atlas at CES 2026, humanoid robotics will become a new arena of competition among global tech companies.” He added, “MOTIR will boost support for R&D and demonstration projects under the Alliance to stay competitive in the global humanoid robotics market.” He also noted, “Based on today’s discussions, we will work with relevant ministries and the Presidential Council on National Artificial Intelligence Strategy to draw up measures to strengthen the humanoid robotics ecosystem.” date2026-03-05

Korea–Philippines Summit Leads to USD 16 Million in K-Consumer Goods Export Deals

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Korea Trade-Investment Promotion Agency (KOTRA, President Kang Kyung Sung) held the Korea–Philippines Business Partnership in Manila on March 4, 2026, on the sidelines of President Lee Jae Myung’s state visit to the Philippines. The event took place at the SMX Convention Center and brought together 52 Korean companies in food, beauty, healthcare, and other consumer sectors, along with 70 Philippine buyers. A total of 11 contracts worth USD 16.4 million were signed, underscoring growing momentum for K-consumer goods in the Philippine market. At the venue, Minister JK (Jung-Kwan) Kim visited exhibition booths operated by Korean companies in consumer goods and franchising to discuss ways to expand the reach of the Korean lifestyle in the Philippines. He also visited booths run by major Philippine distributors, including SM and Landers, and reviewed ways to raise awareness of Korean consumer goods and expand local sales channels. “Korean products, including beauty and food, are gaining popularity in the Philippines,” Minister JK Kim said. “The government will work closely with relevant ministries and agencies to support Korean companies as they expand their business in the Philippines and the wider Southeast Asian market.” On the morning of March 4, 2026, MOTIR and the Federation of Korean Industries (FKI, Chairman Jin Roy Ryu) co-hosted the Korea–Philippines Business Forum at the Manila Hotel in the presence of the presidents of both countries. At the forum, seven MOUs were signed in sectors including shipbuilding, nuclear power, and consumer goods, with Minister JK Kim and Cristina A. Roque, Secretary of Trade and Industry of the Philippines, in attendance. In nuclear power, Korea Hydro & Nuclear Power (KHNP) and the Export-Import Bank of Korea (KEXIM) signed an MOU with Philippine power company Meralco to jointly develop business and financing models for a new nuclear power project and support workforce training. In shipbuilding, HD Hyundai Heavy Industries signed an MOU with the Philippines’ Technical Education and Skills Development Authority (TESDA) to expand workforce training and technology cooperation. In food, Samyang Foods signed an MOU with Philippine retailer S&R to strengthen K-food distribution in the Philippine market. During the presentation session, Korean companies, including HD Hyundai Heavy Industries, LX International, Lotte, and K-water, presented their business cases in sectors including critical minerals, shipbuilding, consumer goods, and infrastructure, and discussed practical ways to expand bilateral business cooperation. MOTIR will continue follow-up talks, including through the Korea–Philippines Economic Cooperation Committee, to turn the business outcomes from the state visit into tangible opportunities for Korean companies. It will also strengthen support to help address business challenges, including local licensing and distribution issues. date2026-03-04

MOTIR and Philippine DTI Agree to Establish a Standing Ministerial Economic Cooperation Committee

Following the Korea–Philippines summit held during President Lee Jae Myung’s state visit to the Philippines on March 3, 2026, Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) and Cristina A. Roque, Secretary of Trade and Industry of the Philippines, exchanged the Korea–Philippines Memorandum of Understanding (MOU) on Trade, Investment, and Economic Cooperation in the presence of the two leaders. From 2019 to 2025, MOTIR and the Philippine Department of Trade and Industry held three meetings of the Korea–Philippines Economic and Trade Cooperation Committee and discussed a broad range of industrial and trade issues. Since the Korea–Philippines Free Trade Agreement (FTA) entered into force in December 2024, Korean companies have expanded their operations in the Philippines in sectors including electrical and electronics, shipbuilding, critical minerals, and infrastructure. Korea’s investment ranking in the Philippines also rose from outside the top ten in 2023 to fourth in 2025, underscoring closer economic cooperation between the two countries. Building on these developments, the two ministries agreed to refocus the agenda of the Economic Cooperation Committee away from a broad cooperation framework and toward high-potential industries such as shipbuilding, semiconductors, electrical and electronics, and the digital economy. They also agreed to establish a standing consultative mechanism to facilitate timely communication when issues arise and support more flexible, ongoing cooperation. MOTIR will use the committee as a channel to address issues affecting Korean companies in the Philippines in a timely manner. The ministry plans to hold the 4th Korea–Philippines Economic Cooperation Committee in 2026 to discuss follow-up steps from the recent Korea–Philippines summit, including measures to resolve difficulties facing Korean companies in the local market. date2026-03-04

MOTIR Launches Chemical Industry Innovation Alliance to Back the Petrochemical Sector’s Move Up the Value Chain

The Chemical Industry Innovation Alliance (the “Alliance”), launched to drive the chemical industry’s transition toward higher value-added and cleaner production, is now fully operational. On March 4, 2026, the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the Alliance’s general meeting at the Korea Chamber of Commerce and Industry (KCCI), with around 150 participants from across the chemical industry ecosystem in attendance, including petrochemical companies, small and medium-sized enterprises (SMEs), middle market enterprises (MMEs), demand-side companies, and research institutes. The meeting marked the start of the Alliance’s full-scale operations as the implementing platform for the “K-Chemical Next Generation Technology Innovation Roadmap 2030,” unveiled in late 2025 to support the petrochemical industry’s shift toward higher-value products amid ongoing restructuring. Participants discussed the Alliance’s operating plan, the recent trends in large-scale R&D programs, R&D investment priorities among key demand-side companies, and a strategy for developing an R&D agenda under the Roadmap that spans the entire chemical value chain—from feedstocks to materials and applications. During the meeting, major demand-side companies presented their R&D investment priorities to help identify a flagship project for the initiative. These inputs will serve as practical guideposts, helping chemical companies pursuing higher-value and cleaner production to reduce uncertainty by incorporating market demand from the planning stage and to develop a demand-driven technology strategy. Demand-side companies across key sectors—including Samsung Electronics, LG Energy Solution, Taihan Cable & Solution, and HD Hyundai Heavy Industries—also shared their R&D strategies, which are expected to help chemical companies develop flagship projects that integrate the entire value chain from feedstocks to materials and applications, strengthen the technological capabilities of SMEs and MMEs in the materials and applications sectors, and drive innovation across the industry. To drive meaningful outcomes in the private sector, the government announced that it is preparing a large-scale R&D project under the Roadmap to support the transition toward higher value-added and cleaner production. Song Hyeon-ju, Director General for Industrial Supply Chain Policy of MOTIR, stated that “while last year’s launch ceremony set out the goals for chemical industry innovation, today’s meeting marks the first step toward implementation.” She added, “the government will provide large-scale R&D support to underpin the transition toward higher value-added and cleaner production if petrochemical companies move swiftly to restructure through rigorous self-help efforts.” She also said that MOTIR would “ensure strong policy support so that the flagship projects developed through the Alliance can become a new engine of growth for Korea’s chemical industry.” date2026-03-04

Minister JK Kim Attends MOU Signing Ceremony at Korea–Philippines Business Forum

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended a memorandum of understanding (MOU) signing ceremony held during the Korea–Philippines Business Forum at the Conrad Hotel in Manila on March 4, 2026, on the occasion of President Lee Jae Myung’s state visit to the Philippines. The ceremony was also attended by Cristina A. Roque, Secretary of Trade and Industry of the Philippines, and featured the signing of seven MOUs covering sectors including nuclear power, shipbuilding, and consumer goods. date2026-03-04

Minister JK Kim Attends Korea–Philippines Business Partnership Event

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited the Korea–Philippines Business Partnership event at the SMX Convention Center in Manila on March 4, 2026, during President Lee Jae Myung’s state visit to the Philippines.  The event brought together Korean companies in consumer-goods sectors such as food, beauty, and healthcare to expand business cooperation with Philippine partners. Minister Kim stated, “Korean products, including beauty and food, are gaining popularity in the Philippines. MOTIR will work closely with relevant ministries and agencies to support Korean companies as they expand their business in the Philippines and the wider Southeast Asian market.” date2026-03-04

Meeting with Korean Nuclear Companies Operating in the Philippines

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired a meeting with Korean nuclear power companies operating in the Philippines at the SMX Convention Center in Manila on March 4, 2026, during President Lee Jae Myung’s state visit to the Philippines.  The meeting was attended by representatives from Korea Hydro & Nuclear Power (KHNP), Doosan Enerbility, Daewoo E&C, Samsung C&T, and Hyundai Engineering & Construction. The meeting reviewed the current status of Korean nuclear companies’ activities in the Philippines and discussed their future plans for participation in local nuclear power projects. date2026-03-04

February 2026 Exports Hit Record High for Any February at $67.5 Billion

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that in February 2026, Korea’s exports rose 29.0 percent year-on-year to USD 67.5 billion, while imports increased 7.5 percent to $51.9 billion, resulting in a $15.5 billion surplus. Exports reached the highest level on record for any February, despite three fewer working days following the shift of the Lunar New Year holiday. Average daily exports (adjusted for working days) increased 49.3 percent to $3.6 billion, exceeding $3.0 billion for the first time. By product, exports increased in five of Korea’s 15 key export items. Semiconductor exports rose to $25.2 billion (up 160.8 percent), posting the highest monthly figure on record and extending exports above $20.0 billion for a third consecutive month. Wireless communication devices reached $1.5 billion (up 12.7 percent), led by mobile phones ($0.5 billion, up 131.6 percent), while computers increased to $2.6 billion (up 221.6 percent), and bio-health products to $1.3 billion (up 7.1 percent). By contrast, automobiles fell to $4.8 billion (down 20.8 percent) and auto parts to $1.5 billion (down 22.4 percent), reflecting fewer working days due to the holiday shift. Petroleum products fell to $3.7 billion (down 3.9 percent) as lower export prices offset higher shipment volumes, while petrochemicals dropped to $3.3 billion (down 15.4 percent), steel to $2.4 billion (down 7.8 percent), and general machinery to $3.3 billion (down 16.3 percent). By destination, exports increased in seven of Korea’s nine major markets. Shipments to the United States rose to $12.9 billion (up 29.9 percent), the highest on record for any February. Exports to China grew 34.1 percent to $12.8 billion, led by semiconductors, computers, and petroleum products. Exports to ASEAN increased to $12.5 billion (up 30.4 percent), while exports to the EU rose to $5.6 billion (up 10.3 percent). Imports rose 7.5 percent year-on-year to $51.9 billion. Energy imports edged down to $9.3 billion (down 1.4 percent), as crude oil imports fell to $5.4 billion (down 11.4 percent), while gas imports increased to $2.6 billion (up 15.9 percent). Non-energy imports rose 9.6 percent to $42.6 billion, including semiconductors ($6.8 billion, up 19.1 percent), semiconductor equipment ($2.6 billion, up 43.4 percent), and mobile phones ($1.0 billion, up 80.2 percent). The trade surplus in February reached $15.5 billion, up $11.6 billion from 2025, marking the largest on record for any month and extending Korea’s surplus streak to 13 consecutive months since February 2025. Minister JK (Jung-Kwan) Kim stated, “Despite fewer working days following the Lunar New Year shift, exports extended their growth streak to nine consecutive months, led by key items such as semiconductors, computers, and ships.” He noted that export uncertainty is rising amid heightened tensions in the Middle East and recent U.S. tariff measures and said the government will monitor trade flows and take measures as needed to limit potential disruptions. He added that the government will continue consultations with the United States to ensure that the benefits secured under the Korea–U.S. tariff agreement are maintained and that conditions for exports to the U.S. market are not adversely affected. He added that the government will strengthen the trade structure to remain resilient to external shifts, based on the government-wide export expansion package announced on February 25, 2026. The package focuses on diversifying export items and markets, upgrading export support—including finance, trade fairs, and infrastructure—and broadening the exporter base through step-by-step support for SMEs and regional companies. The government will pursue these measures to help Korea rank among the world’s top five exporters this year. date2026-03-03