Ministry of Trade Industry and Resources

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

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