Ministry of Trade Industry and Resources

Korea and African Countries Discuss Ways to Expand Trade and Industry Cooperation

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the “2025 Korea–Africa Trade and Industry Cooperation Forum” on Monday, December 15, 2025, in Seoul. Approximately 100 participants attended the forum, including Park Jung-sung, Deputy Minister for Trade; Kim Young-chae, President of the Korea–Africa Foundation (KAF); Chafik Rachadi, Dean of the African Group of Ambassadors in Korea (AGA) and Ambassador of Morocco to Korea; ambassadors from 12 African countries; and representatives from industry and academia. The forum reviewed the outcomes of economic cooperation with Africa—an emerging hub for production, logistics, and resource supply chains, supported by its young population and abundant resources. Against the backdrop of a rapidly evolving global trade environment marked by growing protectionism and supply chain restructuring, participants discussed ways to strengthen momentum for future collaboration. They also assessed the results of a series of economic cooperation events held by MOTIR and KOTRA across major African countries in November 2025, in connection with the first-ever G20 Summit hosted on the African continent, and discussed ways to advance concrete cooperation measures. In his welcome remarks, Deputy Minister Park emphasized that “cooperation between Korea and Africa is a wise choice that can turn crises into opportunities and promote shared growth amid challenges in the global trade environment.” He added that “the government will actively pursue trade agreements with African countries, strengthen cooperation in critical minerals and manufacturing supply chains, and expand infrastructure partnerships in line with local demand in Africa.” At the forum, MOTIR presented Ministerial Commendations to two individuals in recognition of their contributions to trade cooperation with the Middle East and Africa: Kang Munsu, Associate Research Fellow at the Korea Institute for International Economic Policy (KIEP), and Lee So-won, Team Leader at the Federation of Korean Industries (FKI). date2025-12-15

Meeting with the Minister of Commerce of China

JK (Jung-Kwan) Kim, Minister of Trade, Industry and Resources (MOTIR), met with Wang Wentao, Minister of Commerce of China, at the Ministry of Commerce in Beijing on Friday, December 12. The meeting was attended by government delegations from both countries.   During the meeting, the two sides discussed ways to enhance bilateral economic and trade cooperation, including follow-up measures to the agreements reached at the Korea–China summit held during President Xi Jinping’s state visit to Korea on November 1. date2025-12-15

Minister Kim Meets with Korean Companies Operating in Beijing

JK (Jung-Kwan) Kim, Minister of Trade, Industry and Resources (MOTIR), held a roundtable with Korean companies operating in Beijing on Thursday, December 11.   The meeting was attended by representatives from Korean companies and related organizations in China, including Samsung, SK, LG Chem, POSCO China, and Doosan Enerbility.   After delivering opening remarks, Minister Kim listened to policy suggestions and discussed challenges and proposals raised by participating companies regarding economic, trade, and industrial issues. date2025-12-15

Minister Kim Visits the Xiaomi Electric Vehicle Plant in Beijing

JK (Jung-Kwan) Kim, Minister of Trade, Industry and Resources (MOTIR), visited the Xiaomi electric vehicle manufacturing plant in Beijing, China, on Thursday, December 11. During the visit, Minister Kim toured the electric vehicle production process at the facility.   Following the tour, Minister Kim held a meeting with company officials to discuss the electric vehicle industry’s R&D trends and business environment. date2025-12-15

MOTIR and China’s Ministry of Commerce Hold Trade Ministers’ Meeting in Beijing After Seven-Year Hiatus

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited Beijing from Thursday, December 11 to Friday, December 12, 2025, to hold a Korea–China Trade Ministers’ Meeting with Wang Wentao, Minister of Commerce of China. The meeting marked the first standalone bilateral trade ministers’ meeting in seven years, following the previous meeting held in Beijing in June 2018, and took place just over a month after the two sides met on November 1, 2025, in Gyeongju on the margins of the APEC Economic Leaders’ Meeting.  At the meeting, the two sides discussed ways to enhance bilateral economic and trade cooperation, including follow-up measures to the agreements reached at the Korea–China summit held during President Xi Jinping’s state visit to Korea on November 1, 2025. Minister Kim and Minister Wang shared the view that close inter-ministerial communication should be maintained to sustain the momentum toward restoring bilateral relations and to deliver tangible outcomes that contribute to the recovery of people’s livelihoods. As bilateral trade has remained stagnant since reaching a record USD 310.4 billion in 2022, the two sides agreed to expand trade and promote mutual investment, including through regular ministerial-level exchanges to advance substantive discussions. Recognizing that bilateral trade has largely focused on goods, they agreed to expand service trade based on the “Memorandum of Understanding (MOU) on Strengthening Service Trade Cooperation” signed on the margins of the recent summit. The two sides also agreed to convene the Korea–China FTA Joint Committee at an early date to review the implementation of the FTA and identify ways to enhance its effectiveness, as well as to accelerate negotiations on the Korea–China FTA covering services and investment.   Both sides emphasized the importance of strengthening cooperation to revitalize regional economies. Korea agreed to continue cooperation with Chinese provincial governments, including Guangdong, Jiangsu, and Shandong, while expanding collaboration to central and inland regions. China agreed to jointly develop new models for regional cooperation, including the dispatch of investment survey missions to areas such as Saemangeum. They also agreed to leverage existing consultation channels, including the vice-ministerial Korea–China Industrial Complex Consultation, to explore ways to strengthen investment cooperation through Korea–China industrial cooperation complexes. Noting the close interlinkages between the two countries’ supply chains, the ministers agreed to maintain close communication to facilitate the smooth supply of key items, including rare earths. They also agreed to support stable trade in critical minerals through the active use of the general licensing system, based on the Korea–China export controls dialogue. Korea conveyed its position on trade remedy investigations involving Chinese hot-rolled steel products, noting that they are being conducted fairly and transparently in accordance with WTO rules. Both sides agreed on the need to prevent unnecessary misunderstandings arising from trade remedy measures and to enhance prior communication through regular director-general-level meetings.   The two sides reaffirmed the importance of a WTO-centered, rules-based multilateral trading system and agreed to continue cooperation under regional frameworks including APEC and RCEP. Korea also agreed to support China’s successful hosting of APEC next year by sharing its experience as a former host economy. Following the meeting, the two sides signed a document titled “Key Cooperation Matters between Korea’s Ministry of Trade, Industry and Resources and China’s Ministry of Commerce.” Based on this framework, the two ministries will work to ensure smooth date2025-12-15

Korea’s ICT Exports Reach All-Time High in November

The Ministry of Trade, Industry and Resources and the Ministry of Science and ICT announced on December 15 that Korea’s exports of ICT goods in November 2025 rose 24.3 percent year-on-year to USD 25.5 billion. Imports increased by 2.7 percent to $12.8 billion, resulting in a trade surplus of $12.7 billion. Amid a recovery in global demand for ICT devices, ICT exports rose for the tenth consecutive month on a year-on-year basis in November, reaching an all-time high. The trade balance also posted the largest surplus on record, in line with the strong growth in exports. By product, exports of semiconductors (up 38.6 percent), mobile phones (up 3.5 percent), computers/peripherals (up 1.9 percent), and communication equipment (up 3.3 percent) increased, while display exports declined (down 3.7 percent). Semiconductor exports reached a record high, supported by continued increases in fixed memory semiconductor prices and strong demand for high-value products. Mobile phone exports rose on robust demand for high-performance components, including camera modules and 3D sensing modules. Exports of computers and peripherals returned to growth on strong SSD demand as investment in AI servers expanded.   Communication equipment exports increased thanks to recovering demand for automotive equipment in the United States and for components in Vietnam. By contrast, display exports declined, as falling LCD prices and weaker downstream demand outweighed a rebound in OLED exports. By destination, exports to India fell 8.9 percent, while exports to China, including Hong Kong (up 25.3 percent), Vietnam (up 11.6 percent), the European Union (up 18.1 percent), the United States (up 7.9 percent), and Taiwan (up 32.2 percent) all increased. Exports to Japan also rose 18.0 percent, returning to growth on higher shipments of semiconductors and computers and peripherals. ICT imports amounted to $12.8 billion in November, up 2.7 percent year-on-year, driven by increases in mobile phones, including components (up 26.9 percent), computers/peripherals (up 11.2 percent), and communication equipment (up 21.5 percent). In particular, strong demand for newly released products from major global manufacturers, launched in September, led to higher imports of finished mobile phones. By contrast, imports of semiconductors (down 3.3 percent) and displays (down 0.7 percent) declined. date2025-12-15

Roundtable with the Seoul Japan Club (SJC) and Japanese-Invested Companies

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK (Jung-Kwan) Kim) attended the roundtable with the Seoul Japan Club (SJC) and Japanese-invested companies held at the Korea Press Center on Thursday, December 11.   The meeting brought together SJC Chairman and President of Mitsubishi Corporation Korea Matsuura Tetsuya, representatives of major Japanese investors, and officials from relevant organizations, including the Japan External Trade Organization (JETRO) and the Japan Chamber of Commerce and Industry in Korea.   In his remarks, Trade Minister Yeo highlighted that Japan has become one of Korea’s largest foreign investors despite global trade uncertainties. He underscored the need to strengthen cooperation with Japan in advanced industries—including AI, semiconductors, biotechnology, and new energy—to ensure that Japan’s investment in Korea leads to strengthened bilateral supply chains. date2025-12-12

MOTIR Holds WTO Multilateral Trade Strategy Meeting

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK (Jung-Kwan) Kim) held the WTO Multilateral Trade Strategy Meeting on Wednesday, December 10, at the Korea Chamber of Commerce and Industry in Seoul.   The meeting brought together the Ministry of Economy and Finance (MOEF), the Ministry of Foreign Affairs (MOFA), the Ministry of Agriculture, Food and Rural Affairs (MAFRA), the Ministry of Oceans and Fisheries (MOF), and the Permanent Mission of the Republic of Korea in Geneva.   In his remarks, Trade Minister Yeo emphasized that “enhancing the relevance of the WTO and restoring the multilateral trading system are essential to ensuring a predictable trade and investment environment for Korean companies amid growing global trade uncertainties.” He underscored the importance of working closely with relevant ministries and like-minded members to deliver meaningful outcomes at MC14, including the incorporation of the IFD Agreement and the extension of the E-Commerce Moratorium. date2025-12-12

MOTIR Holds Roundtable on Modular Trade Agreements with Trade Experts

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) convened the “Roundtable on Modular Trade Agreements” on Wednesday, December 10, at the Korea Chamber of Commerce and Industry in Seoul.   The meeting brought together trade experts from Korea Trade-Investment Promotion Agency (KOTRA), the Korea Institute of Geoscience and Mineral Resources (KIGAM), the Korea International Trade Association (KITA), Naver, Lotte Fine Chemical, and other relevant organizations, companies, and associations to discuss Korea’s strategy for reshaping global trade norms and cooperation structures through new modular trade agreements.   In his remarks, Trade Minister Yeo stated that “modular trade agreements constitute a new cooperation model that enables Korea to take the lead in shaping international standards for next-generation trade rules amid a rapidly changing global environment.” He emphasized that “by enabling flexible and timely cooperation tailored to each country’s circumstances and business needs, the government will build a trade network that delivers tangible benefits to businesses.” date2025-12-12

Korea Launches Modular Trade Agreement Initiative to Lead the Future Global Trade Order

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Trade Minister Yeo Han-koo convened a roundtable on new modular trade agreements on Wednesday, December 10, 2025, at the Korea Chamber of Commerce and Industry, to discuss Korea’s strategy for reshaping global trade norms and cooperation structures through a new modular framework. The concept of modular trade agreements reflects growing recognition that traditional FTAs—focused largely on market opening—are no longer sufficient to fully address emerging trade issues such as supply-chain resilience, the green economy, and digital and AI transformation amid rising global uncertainty. For emerging economies with significant resources and growth potential but high sensitivity to market opening, the government noted that a tailored trade-cooperation model that more precisely reflects each country’s circumstances and cooperation needs has become increasingly important. Accordingly, MOTIR plans to gather broad input from industry and experts as it prepares a modular approach to new trade agreements. The ministry will first develop standard text for four key areas—supply chains, critical minerals, the green economy, and digital trade—after which specific modules and detailed provisions will be selected and combined for partner countries based on their respective conditions and cooperation needs. At the roundtable, Trade Minister Yeo Han-koo stated, “Modular trade agreements represent a new cooperation model that enables Korea to take the lead in shaping international standards for next-generation trade rules amid a rapidly changing global environment.” He added, “Through flexible and timely cooperation tailored to each country’s circumstances and business needs, we will build a trade network that delivers tangible benefits to Korean companies.” Industry representatives and experts emphasized that new modular trade agreements must be closely aligned with the actual risks and needs faced by companies, noting the model’s significantly enhanced timeliness, flexibility, and responsiveness compared to traditional FTAs. Based on feedback shared at the roundtable, MOTIR will further refine and finalize the standard text for each module by the end of 2025. Using this framework, the ministry plans to apply the modular approach first to next year’s FTA upgrade negotiations with Singapore and ASEAN, before expanding its use to additional partner countries. date2025-12-11