Ministry of Trade Industry and Resources

MOTIR Minister Chairs Meeting with Korean Companies Operating in Singapore

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired a meeting with Korean companies operating in Singapore on March 2, 2026, at the Shangri-La Hotel in Singapore on the occasion of President Lee Jae-myung’s state visit to the country. The meeting was attended by representatives of Korean companies with operations in Singapore, including Hyundai Motor Company, LG Electronics, Celltrion, and Hanwha Ocean, and served as a platform to share key business developments and operational challenges faced by Korean firms in the local market. Prior to the meeting, Minister Kim attended the signing ceremony of a memorandum of understanding (MOU) on cooperation in manufacturing AI transformation (M.AX) between the Korea Institute for Advancement of Technology (KIAT) and the Singapore Manufacturing Federation (SMF). During the meeting, participants discussed major local issues affecting Korean companies and explored ways for the government to provide further support. date2026-03-03

Korea and Singapore Advance Trade and Civil Nuclear Cooperation

During President Lee Jae Myung’s state visit to Singapore, a global hub for technology, energy, and logistics, the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) agreed with Singapore to expand forward-looking cooperation in trade and nuclear energy. Joint Declaration on the Launch of Korea–Singapore FTA Upgrade Negotiations On March 2, 2026, Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) exchanged a Joint Declaration on the Launch of Negotiations to Upgrade the Korea–Singapore Free Trade Agreement (FTA) with Singapore’s Ministry of Trade and Industry (MTI). The exchange took place in the presence of the two leaders on the sidelines of the summit between President Lee Jae Myung and Prime Minister Lawrence Wong. Singapore was Korea’s first FTA partner among ASEAN members. As the Korea–Singapore FTA marks the 20th anniversary of its entry into force on March 2, 2026, the two sides agreed to modernize the agreement by adding modular provisions covering new trade areas such as supply chains and the green economy. In supply chains, Korea and Singapore will set out cooperation measures, particularly in the bio and pharmaceutical sectors, and establish a stronger framework for bilateral supply chain cooperation. In the green economy, the two governments will advance cooperation on decarbonization, helping lay the groundwork for Korean companies to expand into ASEAN markets. In trade facilitation, the two sides will improve procedures to speed up customs clearance. They will also step up cooperation in aviation maintenance, repair, and overhaul (MRO), helping strengthen Korea’s competitiveness in the sector. Korea and Singapore Sign an MOU on SMR Cooperation Korea Hydro & Nuclear Power (KHNP) and Singapore’s Energy Market Authority (EMA) exchanged a Memorandum of Understanding (MOU) on small modular reactor (SMR) cooperation in the presence of the two leaders. This marks the first civil nuclear cooperation MOU between a Korean nuclear power company and a Singapore government agency. In 2025, the Singapore government allocated about KRW 5 trillion under its Future Energy Fund for SMR-related projects to better respond to rising energy demand and energy transition challenges, including those linked to the expansion of AI data centers and carbon neutrality goals. Given Singapore’s limited land area and high population density, SMRs are seen as a viable option because they present fewer siting constraints. KHNP is currently developing the Korean Innovative Small Modular Reactor (i-SMR) for commercialization by the mid-2030s. Under the MOU, KHNP and EMA will cooperate on feasibility studies on SMR adoption, workforce training, and the sharing of technical information and nuclear best practices in the nuclear sector. KHNP will participate in EMA’s ongoing review of SMR technologies to showcase Korea’s next-generation nuclear technology and explore opportunities to take part in related projects. MOTIR will support the implementation of the MOU to ensure that the outcomes lead to tangible business and project opportunities. date2026-03-02

Minister Kim Attends Industrial Complex AX Subcommittee Launch Ceremony

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) attended the launch ceremony of the Industrial Complex AX Subcommittee on February 26, 2026, at Changwon National University. After delivering congratulatory remarks, he presented a letter of appointment to the subcommittee chair and took part in a commemorative button ceremony marking the subcommittee’s official launch. The event was attended by representatives from manufacturing companies, AI firms, universities, research institutes, and local governments. In his remarks, Minister Kim said, ““Industrial complex AX goes beyond individual companies adopting AI. The focus is on testing and scaling AI innovation models through industry–academia–research collaboration within industrial complexes.” He added, “The Industrial Complex AX Subcommittee will serve as a platform to support regional growth and deliver tangible M.AX results.” date2026-02-27

Roundtable with Heads of Foreign Chambers of Commerce in Korea

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired a roundtable with heads of foreign chambers of commerce in Korea on February 26, 2026, at KEPCO in Seoul. The meeting was held ahead of the revised Trade Union Act taking effect on March 10, 2026, to hear views from foreign-invested companies and review on-the-ground conditions. The meeting was attended by Minister Kim Young-hoon of the Ministry of Employment and Labor (MOEL), as well as representatives of foreign chambers of commerce in Korea, including those from the United States, Europe, and Japan.   In his remarks, Minister Kim said that MOTIR and MOEL had coordinated to prepare guidelines for interpreting the revised Act to reduce uncertainty in labor–management relations and support stable relations through dialogue and cooperation. He added that MOTIR, together with MOEL, will strengthen labor–management communication and set up a hotline for foreign-invested companies. date2026-02-27

MOTIR Hosts First Public–Private Export Expansion Meeting

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) chaired the first Public–Private Export Expansion Meeting on February 25, 2026, at the KOTRA headquarters in Seoul. Prior to the meeting, he attended the signing ceremony of an MOU between the Korea Trade Insurance Corporation (K-SURE) and Hana Bank to provide KRW 5.0 trillion in preferential financing for exporting SMEs and mid-sized firms.  Participants included officials from the Ministry of Economy and Finance (MOEF) and the Ministry of Health and Welfare (MOHW), as well as representatives from K-SURE, Hana Bank, and leading companies across key industries such as automobiles, bio, nuclear power, defense, power equipment, steel, and shipbuilding. The meeting focused on public–private cooperation measures to sustain export momentum amid a rapidly changing global trade environment. In his remarks, Minister Kim stressed the need to maintain export momentum despite heightened uncertainty and reaffirmed the government’s commitment to proactive export diversification. He also highlighted plans to expand support for priority export sectors and strengthen inclusive trade finance to broaden the export base. date2026-02-27

MOTIR Launches Industrial Complex AX Initiative to Expand M.AX Nationwide

A region-led framework to scale AI transformation (AX) across industrial complexes is now underway. On February 26, 2026, the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the launch ceremony for the Industrial Complex AX Subcommittee, the 11th subcommittee under the M.AX Alliance, at the Changwon National Industrial Complex. Manufacturers, AI companies, universities, research institutes, and local governments attended the event and discussed the direction of the industrial complex AX and the subcommittee’s operating plan. The new subcommittee brings together more than 500 institutions from industry, academia, and research, and is chaired by Park Min-won, President of Changwon National University. The subcommittee will coordinate industrial complex AX projects and policies, connect tenant firms with the Alliance’s 10 existing subcommittees, share best practices and on-the-ground challenges across complexes, and build a system to collect, share, and use manufacturing data. It will serve as a private sector–led platform that aligns regional growth strategies with M.AX policy and drives AX through industry–academia–research collaboration. The Industrial Complex AX Subcommittee includes the chairs of 10 regional “M.AX Innovation Network in Industrial Complexes (MINI) Alliances” as subcommittee members. The MINI Alliances will serve as the subcommittee’s implementation arm and will be rolled out in phases—starting with the Changwon MINI Alliance launched the same day as the subcommittee—with further expansion depending on the designation of AX pilot industrial complexes. They will identify AX priorities tailored to local industries and develop demonstration models for immediate on-site use and wider adoption. At the event, the government also released its Industrial Complex AX Strategy. Korea’s 1,341 industrial complexes cluster companies by industry and supply chain, making them well-suited to scaling manufacturing AX. The strategy sets out three priorities to make industrial complexes the main hubs for this effort. First, MOTIR will upgrade key regional industrial complexes into M.AX clusters and support anchor firms under the “Five Mega-Regions and Three Special Self-Governing Provinces” initiative in building world-leading lights-out manufacturing facilities (dark factories), foster AX ecosystems, and integrate them with mega regulatory sandbox districts. MOTIR will also select three additional AX pilot industrial complexes in 2026 to build demonstration testbeds and integrated support centers for large-scale AI deployment. Second, MOTIR will build an industry–academia–research ecosystem around industrial complexes to develop and deploy shared AI models for tenant firms. It will also run regular M.AX Caravan programs to match manufacturers with AI specialists. In addition, the ministry will work with local universities on demand-driven R&D and workforce training. Third, MOTIR will expand essential infrastructure for industrial complex AX by continuing to attract AI data centers—following the 2025 placements in the Osong Industrial Complex and the Busan Myeongji–Noksan National Industrial Complex—and building dedicated 5G networks. The ministry will pilot the 5G network in one industrial complex in 2026 before scaling it nationwide. Minister JK (Jung-Kwan) Kim said, “Industrial complex AX goes beyond individual companies adopting AI. The focus is on testing and scaling AI innovation models through industry–academia–research collaboration within industrial complexes.” He added, “The Industrial Complex AX Subcommittee will serve as a platform to support regional growth and deliver tangible M.AX results.” date2026-02-27

CEO Roundtable on the Daesan No. 1 Petrochemical Restructuring Project

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) presided over the CEO Roundtable with companies participating in the Daesan No. 1 petrochemical restructuring project on February 25, 2026, at the Korea Trade-Investment Promotion Agency (KOTRA) in Seoul. The meeting was held to support the swift implementation of the project. Participants included the CEO of HD Hyundai Oilbank Son Myung-joon; the CEO of HD Hyundai Chemical Cho Nam-su; and the CEO of LOTTE Chemical Lee Young-jun. During his opening remarks, Minister Kim said, “The Daesan No. 1 project is the first tangible outcome of government–industry coordination” and noted that it will “help accelerate the petrochemical industry’s restructuring.” He added, “The ministry will work closely with companies to advance follow-up projects and will put in place all necessary support to minimize negative impacts on local economies, employment, and SMEs.” date2026-02-26

Meeting with the Minister of Energy and Natural Resources of Türkiye

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Alparslan Bayraktar, Minister of Energy and Natural Resources of Türkiye, on February 25, 2026, at the Korea Trade-Investment Promotion Agency (KOTRA) in Seoul. The two ministers discussed ways to expand bilateral cooperation in trade and investment, nuclear energy, and resource development. Minister Kim welcomed the continued engagement between companies in both countries under the nuclear power cooperation MOU signed in November 2025. He also urged Korea and Türkiye to step up resource cooperation to bolster supply-chain resilience amid rising protectionism and economic fragmentation, including cooperation on critical minerals and the sourcing of materials, parts, and equipment. date2026-02-26

MOTIR and MOEL Meet with Foreign Chambers to Hear Industry Views Ahead of Revised Trade Union Act

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Employment and Labor (MOEL, Minister Kim Young-hoon) held a meeting with the heads of foreign chambers of commerce in Korea on February 26, 2026, at KEPCO’s Southern Seoul Headquarters. The meeting was convened ahead of the revised Trade Union Act taking effect on March 10, 2026, to hear views from foreign-invested companies and review workplace conditions. In his opening remarks, Minister JK (Jung-Kwan) Kim explained that MOTIR and MOEL had jointly prepared guidelines for interpreting the revised Act to reduce workplace uncertainty and promote stable labor–management relations through dialogue and cooperation. He added that MOTIR will work with MOEL to step up support for companies by strengthening communication between labor and management as well as setting up a hotline for foreign-invested companies. Minister Kim Young-hoon stated that the revised Act is intended to promote dialogue between labor and management and reinforce the foundations of a sustainable industrial ecosystem built on shared growth. He noted that the government is preparing for implementation, giving top priority to enhancing workplace predictability, while remaining consistent with the purpose of the revision and balancing business activity with the protection of labor rights. At the meeting, major foreign chambers, including the American Chamber of Commerce in Korea (AMCHAM) and the European Chamber of Commerce in Korea (ECCK), offered suggestions on the revised Trade Union Act’s implementation. The government said it will closely review the input and reflect it in the rollout. MOTIR and MOEL will strengthen coordination to boost industrial competitiveness and provide a stable footing for business activity. They will reflect the views of both business and labor in a balanced manner and continue improving the foreign investment climate based on stable labor–management relations, laying the groundwork for increased investment. date2026-02-26

Korea Reviews U.S. Entry and Stay Issues for U.S.-Investing Companies and Steps Up Industry Outreach

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), the Ministry of Foreign Affairs (MOFA, Minister Cho Hyun), and the Ministry of SMEs and Startups (MSS, Minister Han Seong-sook) held a joint meeting on February 25, 2026, to review entry and stay-related issues faced by Korean companies investing in the United States. Review Meeting on U.S. Entry and Stay Issues for U.S.-Investing Companies Date/Time: February 25, 2026 (Wed.), 15:00–16:30 Venue: Korea Chamber of Commerce and Industry (KCCI), Seoul Participants: Government (Co-chairs) – Director of Korea–U.S. Trade and Cooperation Division at MOTIR, Director of North American Economic Affairs Division at MOFA, Director of International Trade and Cooperation Division at MSS Companies – LG Energy Solution, Samsung SDI, SK On, LG Chem, Dongwha Electrolyte, Enchem, Samsung Electronics, SK Hynix Associations: Korea Battery Industry Association (KBIA), Korea Semiconductor Industry Association (KSIA) The meeting was convened in response to growing demand to dispatch personnel to the United States as Korean companies expand investment in the U.S. battery and semiconductor sectors. Participants reviewed difficulties encountered by companies during visa issuance, immigration inspections, and local stay procedures, and shared suggestions for improvement. The ministries also shared recent developments in U.S. rules and practices.  Based on the suggestions raised, the government will continue consultations with the U.S. side. Reflecting requests for more sector-specific discussions, future meetings will include not only large investors but also partner firms that are expanding into the United States alongside them. Starting with batteries and semiconductors, the government will hold a series of sector-specific meetings in the first half of 2026—including automobiles and shipbuilding—to review challenges across the investment ecosystem and continue working to ensure a stable environment for investment in the United States. date2026-02-26