Ministry of Trade Industry and Resources

Korea and the UK Conclude Upgrade Negotiations for the Korea–UK Free Trade Agreement

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and Sir Chris Bryant, Minister of State at the United Kingdom’s Department for Business and Trade, met in London on Monday, December 15, 2025, and signed a joint declaration confirming the conclusion of the Korea–UK Free Trade Agreement (FTA) upgrade negotiations. Key Developments Following the UK’s decision to withdraw from the European Union (Brexit), Korea and the UK concluded the Korea–UK FTA in 2021 on terms identical to the Korea–EU FTA, which entered into force in 2011, to ensure continuity in trade and investment and to maintain a stable and predictable business environment. In line with a provision of the original agreement calling for follow-up negotiations within two years of its entry into force, both sides have held six rounds of upgrade negotiations and five rounds of trade ministers’ meetings, along with multiple intersessional meetings, since January 2024. At a bilateral meeting held on the margins of the G7 Summit in Canada in June 2025, the leaders of Korea and the UK agreed to accelerate talks to conclude the FTA upgrade negotiations within the year. After outstanding issues were resolved through additional discussions on services and investment held this month, the two sides formally declared the negotiations concluded at the trade ministers’ meeting in London. Significance and Assessment of the Korea–UK FTA The UK is the world’s sixth-largest economy and Europe’s second-largest by nominal GDP. It is also a global hub for finance and investment, accounting for the largest shares of international bank lending and foreign exchange transactions worldwide. However, bilateral trade volumes and Korea’s exports to the UK rank only around 20th globally, underscoring the need to enhance market access through the upgrade negotiations. The revised Korea–UK FTA is expected to expand bilateral trade by easing the stringent rules of origin for Korea’s key export products and by further opening the UK’s high-speed rail procurement market and major service sectors. It also reflects a broad range of new trade rules aimed at expanding exchanges and cooperation across diverse areas. Trade Minister Yeo emphasized that “the conclusion of the Korea–UK FTA upgrade negotiations will consolidate the free-market order amid growing uncertainty in the trade environment and strengthen economic cooperation with the UK, a key partner in Europe.” He further noted that “the upgraded Korea–UK FTA includes extensive cooperation norms, such as market liberalization, digital trade, and cooperation on supply chain stabilization, to strengthen the Korea–UK trading relationship.” Minister Bryant remarked, “Korean culture has taken off in the UK, with millions of Brits already binge-watching great Korean TV and streaming K-pop artists. Today’s agreement boosts the UK’s world-class services sector and supports iconic brands to speed up our economic growth.” Next Steps Following the declaration of the conclusion of the negotiations, the government will promptly complete the procedures required for formal signature, including legal review and Korean-language translation of the agreement text. After the formal signature, it will proceed with steps necessary for the agreement’s entry into force, including an economic impact assessment and securing the National Assembly’s consent to ratification. date2025-12-17

Korea and Norway Discuss Ways to Build a Practical Partnership Amid Changes in the Global Trade Environment

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Ragnhild Sjoner Syrstad, State Secretary at Norway’s Ministry of Trade, Industry and Fisheries, at Lotte Hotel in Seoul on Tuesday, December 16, 2025, to discuss ways to strengthen substantive bilateral cooperation between Korea and Norway in response to recent changes in the global trade environment. Both sides recognized that rising protectionism and the weakening of the World Trade Organization (WTO) system have increased global trade uncertainty and underscored the importance of closer cooperation between Korea and Norway to stabilize supply chains and enhance industrial competitiveness. They agreed to continue discussions on building a practical partnership to deliver tangible outcomes. The two sides welcomed the resumption of the Korea–Norway Economic Cooperation Committee (KNECC), a private-sector consultative body inactive since 2016, noting that its revival after a decade strengthens the foundation for business-to-business exchanges and the development of joint projects. They agreed to expand government-level support and to pursue more concrete cooperation models and project-based MOUs based on corporate demand. Deputy Minister Park stated, “Building on the complementary industrial structures of Korea and Norway, bilateral trade has expanded in both scale and quality since the FTA’s entry into force.” He noted that “practical cooperation is already advancing in the shipbuilding sector, particularly in areas such as autonomous navigation and AI-based future ship technologies,” emphasizing that “combining Korea’s strengths in manufacturing and ICT with Norway’s maritime and energy technologies could create substantial added value.” He added that “Korea hopes to further expand bilateral cooperation into advanced industries, including the green transition and critical supply chains." date2025-12-17

MOTIR Reviews Agenda Items for the Successful Convening of the 14th WTO Ministerial Conference

Director General for Trade Negotiations Kwon Hye-jin of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will serve as Korea’s chief representative at the World Trade Organization (WTO) Senior Officials Meeting (SOM) to be held in Geneva, Switzerland, from Monday, December 15 to Wednesday, December 17, 2025. The SOM is convened approximately three months prior to the 14th WTO Ministerial Conference (MC14), scheduled for March 2026 in Cameroon. The meeting will bring together senior officials from WTO members to review the MC14 agenda, identify key deliverables, and engage in high-level consultations on current WTO issues.  Director General Kwon will also participate in the WTO General Council to discuss ways to deliver outcomes on key MC14 agenda items, including WTO reform; the incorporation of the Agreement on Electronic Commerce; the extension of the moratorium on customs duties on electronic transmissions; and the incorporation of the Investment Facilitation for Development (IFD) Agreement into the WTO system. Additionally, she will consult with WTO members on major issues, such as the continued development of the Industrial Policy Dialogue. On the margins of the meeting, Director General Kwon will meet with representatives of key trading partners, including South Africa and the European Union, to advance cooperation on the accession and expansion of the IFD Agreement, which Korea co-chairs with Chile. MOTIR underscored the importance of restoring the WTO’s functions to ensure a predictable trade and investment environment and reaffirmed its commitment to working closely with relevant ministries to deliver meaningful outcomes at the MC14. date2025-12-16

MOTIR Reviews Request for Additional Designation of Ganghwa Southern District in Incheon Free Economic Zone

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the 146th Free Economic Zone (FEZ) Committee on Monday, December 15, 2025. At the meeting, MOTIR reported on a request to designate the Ganghwa Southern District as an additional zone within the Incheon FEZ, and the Committee approved an amendment to the development plan for the Sindae Hinterland Complex in the Gwangyang Bay Area FEZ, including an extension of the project period. Under the Special Act on Designation and Management of Free Economic Zones, local governments seeking free economic zone designation are required to submit a development plan to MOTIR. The ministry then reports the request to the FEZ Committee and, following consultations with relevant ministries and expert evaluations, makes a final determination through the Committee’s deliberation and resolution. Incheon plans to develop the Ganghwa Southern District into a global advanced industrial city integrating future technologies with regional resources. The plan will leverage local agri-food and marine specialties, along with the area’s cultural and natural assets and international airport infrastructure, to foster new growth engines in advanced industries and cultural tourism—including bio, physical AI, and integrated tourism—while establishing a strategic base to respond to the reorganization of global supply chains. The proposed amendment to the development plan for the Sindae Hinterland Complex extends the project period through 2026 to ensure smooth implementation of follow-up projects and adjusts the project area to reflect finalized land survey results. Je Kyung-hee, Director-General of the Free Economic Zone Planning Office, stated, “The Committee will actively reflect the views of local governments and, in close consultation with experts and relevant ministries, create tailored development strategies to position free economic zones as key hubs for foreign investment attraction and regional development." date2025-12-16

K-Trade Opens New Pathways

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Korea International Trade Association (KITA) held the 62nd Trade Day Ceremony at COEX in Seoul on Thursday, December 4, 2025, with around 1,000 attendees, including trade-merit honorees and leaders from government ministries and related institutions. 2025 Export Performance and Evaluation Despite numerous challenges, Korea’s exports are on track to reach an all-time high, recording USD 640.2 billion from January to November 2025. Since the launch of the new administration, exports have recorded six consecutive months of growth as uncertainties eased, reflecting a positive “slow start, strong finish” trajectory. Korea’s export growth this year has been driven by strong competitiveness in key manufacturing sectors such as semiconductors, automobiles, ships, and bio-related industries. K-consumer goods, including K-food and beauty products, as well as defense exports, have also performed strongly amid the global spread of Korean culture. Export destinations have diversified beyond the traditionally concentrated U.S. and Chinese markets, expanding into ASEAN, the EU, and other regions. The export base has also broadened, with the number of exporting SMEs reaching 89,000 cumulatively in the first three quarters—an all-time high—and SME export value rising to USD 87.1 billion, also marking a record high. Minister JK (Jung-Kwan) Kim stated, “This year’s achievements were made possible by the combination of our industrial competitiveness and strong export commitment, symbolizing the resilience and robustness of our economy and export sector.” He added, “Going forward, we will strive not only to surpass the all-time export record but also to open new pathways for Korean trade through industrial innovation and K-culture—and to ensure that the benefits of export growth extend to SMEs, local communities, and workers across the country.” 62nd Trade Day Ceremony and Awards Held under the slogan “K-Trade Opens New Pathways,” the 62nd Trade Day Ceremony included an opening video, welcome remarks by the KITA Chairman, a theme video, the awards ceremony, congratulatory remarks by the Prime Minister, and a commemorative program. This year, 598 individuals received government commendations, and 1,689 companies were awarded Export Towers in recognition of their contributions to Korea’s export growth. To honor the exceptional contributions of trade professionals in achieving record-high export performance amid global uncertainty—the government awarded one additional Silver Tower Order of Industrial Service Merit—following last year’s expansion of the Gold Tower Order of Industrial Service Merit. Government commendations and Export Towers were also presented on-site to individuals and companies who excelled in developing new markets and expanding Korea’s export base. This year’s award-winning companies showcased several notable trends: First, companies in core industries such as semiconductors and automobiles demonstrated sustained resilience amid challenging conditions. The Gold Tower Order of Industrial Service Merit was awarded to a semiconductor inspection equipment manufacturer expanding exports through strong technological capabilities and rising AI chip demand, as well as to an automaker diversifying its export market through manufacturing innovation and competitive product quality. The highest honor—the USD 35 billion Export Tower—was awarded to a leading HBM semiconductor company. Second, shipbuilding and defense companies posted significant growth, further broadening Korea’s export portfolio. Major Export Towers (USD 4 billion and USD 600 million) were awarded to shipbuilders advancing the transition to eco-friendly vessels, and a Silver Tower Order of Industrial Service Merit date2025-12-16

2025 Korea–Africa Trade and Industry Cooperation Forum

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR), attended the “2025 Korea–Africa Trade and Industry Cooperation Forum” held on Monday, December 15, at Koreana Hotel in Seoul.   The forum brought together around 100 participants, including Kim Young-chae, President of the Korea–Africa Foundation; 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.   Deputy Minister Park emphasized that “cooperation between Korea and Africa is a wise choice that can turn crises into opportunities and enable shared growth amid challenges in the global trade environment.” He added that “the government will actively pursue trade agreements with African countries while deepening cooperation in critical minerals and manufacturing supply chains, and also expand infrastructure cooperation in line with local demand in Africa.” date2025-12-16

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