Ministry of Trade Industry and Resources

Trade Minister Yeo Expands Outreach at the Davos Forum to Address Trade Issues and Restore Multilateral Order

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the 2026 World Economic Forum (WEF) Annual Meeting in Davos, Switzerland, holding around 50 meetings with trade ministers from major economies, global business leaders, and leading international scholars. At the forum, he addressed key trade issues, expanded trade networks, supported efforts to restore the multilateral trading system, and promoted global investment, including by attending the WTO informal ministerial meeting and chairing the Investment Facilitation for Development Agreement (IFDA) meeting. Held amid heightened global uncertainty under the theme “A Spirit of Dialogue,” the Davos Forum drew record participation from government and business leaders, with discussions covering trade and investment as well as emerging issues such as AI, critical minerals, and digital technologies. Engagements with Government Counterparts On the sidelines, Trade Minister Yeo met with U.S. Trade Representative Jamieson Greer to discuss pending Korea–U.S. trade issues and agreed to maintain close communication to sustain bilateral relations. He also met with Michigan Governor Gretchen Whitmer, California Governor Gavin Newsom, Kentucky Governor Andy Beshear, and Senator Chris Coons to highlight the role of Korean investment in the U.S. and the importance of strengthening mutually beneficial industrial cooperation. Trade Minister Yeo discussed plans for consultations with European Commissioner for Trade and Economic Security Maroš Šefčovič aimed at identifying practical solutions to the EU’s steel import safeguard measures, and urged progress on resolving Canada’s steel import restrictions in talks with Canadian Minister of International Trade Maninder Sidhu. He also exchanged views on the EU’s trade response to the U.S., including Greenland-related issues, with French and Swiss counterparts—France’s Minister Delegate for Foreign Trade and Economic Attractiveness Nicolas Forissier and Switzerland’s Director of the State Secretariat for Economic Affairs (SECO) Helene Budliger Artieda—and discussed expanding bilateral industrial cooperation with Israel’s Minister of Economy and Industry Nir Barkat. Trade Minister Yeo also advanced efforts to diversify Korea’s trade network by accelerating ongoing FTA talks with key economies. He discussed signing the Gulf Cooperation Council (GCC) FTA with GCC Secretary-General Jasem Mohamed AlBudaiwi and Saudi Arabia’s Minister of Commerce Majid bin Abdullah Al-Kassabi; accelerating Korea–Thailand FTA negotiations with Thailand’s Minister of Foreign Affairs Sihasak Phuangketkeow and Minister of Commerce Suphajee Suthumpun; launching Korea–Egypt CEPA talks with Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib; expediting Korea–Mongolia CEPA negotiations with Mongolia’s Prime Minister Gombojavyn Zandanshatar; advancing a Korea–Bangladesh FTA with Bangladesh’s Special Envoy of the Head of the Interim Government Lutfey Siddiqi; and resuming Korea–MERCOSUR trade agreement discussions with Argentina’s Secretary of International Economic Relations, Foreign Affairs, International Trade and Worship Fernando Brun. He also reviewed progress in the Korea–China FTA services and investment negotiations with China’s International Trade Representative and Vice Minister of Commerce Li Chenggang, and discussed facilitating trade and investment under existing FTAs with Indonesia’s Deputy Minister for Investment Promotion Nurul Ichwan and Cambodia’s Senior Minister of Multilateral Trade and Economic Affairs Sok Siphana. Meetings with Business Leaders and Experts; Participation in Sessions Trade Minister Yeo met with chief executives from major foreign-invested companies, including Merc date2026-01-23

Meeting with Indonesia’s Deputy Minister for Trade and Digital Economy

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Ali Murtopo Simbolon, Indonesia’s Deputy Minister for Trade and Digital Economy at the Coordinating Ministry for Economic Affairs, at Lotte Hotel Seoul on January 23, 2026.  The meeting was attended by senior officials from MOTIR and Indonesia’s Coordinating Ministry for Economic Affairs. During the meeting, Deputy Minister Park conveyed requests raised by Korean companies undertaking investment projects in Indonesia and called for progress on outstanding issues discussed at the ministerial level, including reforms to the SNI certification system and challenges related to hydropower project bids. He also proposed resuming the Korea–Indonesia Economic Cooperation Committee as a regular bilateral cooperation platform. date2026-01-23

Korea and Indonesia Hold Talks to Expand Investment Cooperation and Address Business Challenges

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Ali Murtopo Simbolon, Indonesia’s Deputy Minister for Trade and Digital Economy at the Coordinating Ministry for Economic Affairs, on January 23, 2026, at Lotte Hotel Seoul to discuss ways to strengthen bilateral economic and trade ties. The meeting built on the two countries’ ministerial talks held on the sidelines of the APEC Economic Leaders’ Meeting in Gyeongju in October 2025. The two sides discussed ways to expand investment cooperation and to address specific hurdles that businesses face.  The two sides noted that more than 2,300 Korean companies operate in Indonesia across a wide range of sectors, including electric vehicles, batteries, steel, and chemicals, and contribute to the local economy. They agreed to work closely to foster a more investor-friendly environment and to further expand bilateral investment ties. Deputy Minister Park also conveyed requests from Korean companies undertaking investment projects in Indonesia and requested continued attention and support from the Indonesian government. Deputy Minister Park further urged progress in resolving outstanding issues raised at the ministerial meeting last October, including reforms to the SNI certification system and challenges Korean companies face when bidding for hydropower projects. Deputy Minister Simbolon said Indonesia would coordinate with relevant ministries and agencies to help advance work on these issues. Deputy Minister Park also proposed resuming the Korea–Indonesia Economic Cooperation Committee, a regular bilateral consultative platform co-chaired by Korea’s Minister of MOTIR and Indonesia’s Coordinating Minister for Economic Affairs. The two sides agreed to maintain close communication with a view to convening the committee’s third meeting at an early date. date2026-01-23

Trade Minister Yeo Speaks at the Next-Generation Trade Facilitation Panel at the Davos Forum

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the World Economic Forum (WEF) Davos Forum: Next-Generation Trade Facilitation panel on January 21, 2026, at the Congress Centre in Davos, Switzerland. The panel was attended by WEF leadership and board members: the Director-General of the World Trade Organization (WTO), trade ministers from Egypt, the United Arab Emirates, Thailand, Cambodia, and Romania, and representatives from global companies, including Agility. During the panel, Trade Minister Yeo delivered remarks on a global trade facilitation alliance. date2026-01-22

Roundtable with Korean Companies Operating in Egypt

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held a meeting with Korean companies operating in Egypt at the Ambassador’s Residence in Cairo on January 18, 2026. Participants included representatives from Samsung Electronics, LG Electronics, Hyundai Rotem, Hanwha Aerospace, Korea Aerospace Industries (KAI), TP Inc., Dana Petroleum, and Korea Hydro & Nuclear Power (KHNP). During the meeting, Trade Minister Yeo heard business concerns and requests related to financing and streamlined administrative procedures, and discussed practical measures for addressing operational challenges in a timely manner. date2026-01-20

Trade Minister Yeo Visits the Sokhna Industrial Zone in Egypt

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) visited the Sokhna Industrial Zone and the adjacent Sokhna Port within the Suez Canal Economic Zone in Egypt on January 18, 2026, to review the local investment environment for Korean companies operating in Egypt. The delegation included representatives of Korean companies operating in Egypt, officials from KOTRA, and experts from the Korea Institute for International Economic Policy (KIEP). Trade Minister Yeo noted that “MOTIR plans to strengthen support for Korean companies’ expansion into Egypt by providing essential market-entry information, including an investment guidebook reflecting the findings from the recent visit to the Suez Canal Economic Zone.” date2026-01-20

Trade Minister Yeo Meets with Egypt’s Minister of Investment and Foreign Trade

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade, on January 18, 2026, at the Ministry of Investment and Foreign Trade in Cairo. During the meeting, the two sides discussed ways to strengthen bilateral trade cooperation, including the Korea–Egypt Comprehensive Economic Partnership Agreement (CEPA), and held a signing ceremony for a Joint Declaration on Advancing the Korea–Egypt CEPA. Trade Minister Yeo stated that “the visit marked a significant step in formally advancing CEPA talks with Egypt” and added that “the government will expedite negotiations, from launch through conclusion, to provide institutional support for stable trade and investment activities by Korean companies.” date2026-01-20

Trade Minister Yeo to Attend Davos Forum on Restoring the Global Multilateral Order and Revitalizing Trade and Investment

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will attend the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland, January 19-22, 2026 (local time). Held under the theme “A Spirit of Dialogue,” this year’s Davos Forum will bring together world leaders, global business leaders, and opinion leaders from approximately 70 countries for in-depth discussions on strengthening cooperation, revitalizing global trade and investment, and identifying new engines of growth. Trade Minister Yeo will participate as a speaker in sessions on global trade and investment, addressing next-generation global trade facilitation, strengthening multilateral trade and investment, and growth strategies for emerging economies such as ASEAN. He will also meet with senior executives from major global companies—including Merck, Amazon Web Services (AWS), and Maersk—to discuss ways to increase investment in Korea and deepen cooperation. Trade Minister Yeo will also attend the informal WTO ministerial meeting on January 22, where participants will discuss WTO reform priorities and ways to deliver concrete outcomes at the 14th WTO Ministerial Conference (MC14), scheduled to be held in Cameroon in March 2026. In particular, he plans to lead discussions on incorporating the Investment Facilitation for Development (IFD) Agreement—an initiative led by Korea—into the WTO framework. He will also hold bilateral meetings with trade ministers from key economies and partners, including the EU, Argentina, and Switzerland, to address market-entry challenges faced by Korean companies and explore ways to further strengthen Korea’s trade network. Trade Minister Yeo emphasized that “the Davos Forum is a global platform for political and economic dialogue among world leaders, and an opportunity to highlight Korea’s return to the international community underscoring the resilience of its democracy.” He added that “as a middle power drawing global attention, Korea will demonstrate global leadership by contributing to restoring the international economic and trade order amid an increasingly complex global environment.” He further noted that “MOTIR will leverage the Davos Forum to step up trade and investment outreach, with a focus on attracting global investment and addressing key trade issues in line with Korea’s national interests." date2026-01-20

The First Korea–China FTA Services and Investment Follow-up Talks of 2026 to Be Held in Beijing

The Trade Ministry at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that the 13th round of follow-up negotiations on services and investment under the Korea–China Free Trade Agreement (FTA) will take place in Beijing from January 19 to 23, 2026.  The talks will bring together around 30 officials from both countries, with the Korean delegation led by Kwon Hye-jin, Director General for Trade Negotiations, and the Chinese delegation headed by Lin Feng, Director General for International Trade and Economic Affairs at China’s Ministry of Commerce. Since the Korea–China FTA entered into force in 2015, the two countries have conducted follow-up negotiations on services and investment in line with the agreed guidelines. Formal negotiations were launched in March 2018, and discussions have continued through 12 official rounds and multiple intersessional meetings. At the Korea–China summit held in Beijing on January 5, 2026, the two sides agreed to pursue meaningful progress in the follow-up negotiations within the year. Building on this understanding, the upcoming round will focus on negotiations on agreement texts and market access across three working groups—services, investment, and financial services. MOTIR stated it will maintain negotiation momentum by holding official rounds on a regular basis, including on a bimonthly schedule, with the participation of all relevant ministries. It added that the negotiations aim to ensure the follow-up agreement serves as a foundation for a freer and more open environment for bilateral services trade and investment. date2026-01-20

Free Economic Zones See Strong Growth in Foreign-Invested Companies, Employment, and Investment

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced the results of the 2024 survey on businesses located in Free Economic Zones (FEZs), a nationally approved statistical survey jointly conducted with nine FEZ authorities since 2017. The survey provides a comprehensive overview of businesses operating in FEZs, covering investment status, employment, business activities (including sales, procurement, R&D, and production), the business environment and access to support programs, and operational challenges. According to the survey, Korea’s FEZs continued to expand in 2024, posting solid growth in the number of foreign-invested companies, employment, and investment, underscoring their role as key growth hubs for regional economies. Major indicators across the survey pointed to a favorable trend, with the number of foreign-invested companies in FEZs rising 8.2 percent year-on-year, while employment and investment increased 8.8 percent and 14.4 percent, respectively. As of 2024, a total of 8,590 companies were operating in FEZs, up 4.4 percent from the previous year. By region, Incheon accounted for 44.9 percent of the total, followed by Busan–Jinhae (28.4 percent) and Daegu–Gyeongbuk (12.2 percent). Notably, the number of tenant companies rose sharply in Gwangju (up 107 percent), Chungbuk (up 24 percent), and Gyeonggi (up 10 percent). Reflecting the increase in tenant companies, total employment in FEZs reached 254,775, marking an 8.8 percent rise from a year earlier. This growth significantly outpaced the nationwide increase in the employment rate (up 0.1 percentage points). Total investment in FEZs amounted to KRW 5.9 trillion (up 14.4 percent), while total sales reached KRW 189.7 trillion (up 2.0 percent), contributing greatly to regional economic activity. The number of foreign-invested companies operating in FEZs totaled 690 in 2024, an increase of 8.2 percent from the previous year. Of these, 84.6 percent were located in Incheon (53.2 percent) and Busan–Jinhae (31.4 percent), with Incheon recording particularly strong growth of 18 percent. Employment at foreign-invested companies stood at 57,389 (up 1.4 percent). Investment by these companies reached KRW 3.8 trillion (up 4.3 percent), while sales rose to KRW 56.2 trillion (up 11.6 percent), demonstrating steady momentum. FEZs are pursuing five-year development plans focused on building regional innovation ecosystems by fostering core strategic industries tailored to local strengths. In 2024, the number of companies in these core industries increased by 6.8 percent from the previous year. Employment in these sectors surged 27.0 percent, and sales rose 17.2 percent, marking robust growth. Je Kyung-hee, Director General of the Free Economic Zone Planning Office, noted that “despite challenging conditions, FEZs have sustained steady growth and continue to serve as key hubs for foreign investment and regional economic development.” She added that “the government will continue to develop and implement policies tailored to regional and industry-specific needs to support further investment and business activity.” date2026-01-20