Ministry of Trade Industry and Resources

Korea and Montana Discuss Stronger Economic Cooperation

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Trade Minister Yeo Han-koo met with Montana Governor Greg Gianforte and his economic delegation in Seoul on Monday, October 20, 2025, to discuss ways to strengthen economic cooperation between Korea and the United States. The delegation included the First Lady of Montana, the CEO of Navajo Transitional Energy Company (NTEC), the CEO of Montana Renewables, the Director of the Office of Trade and International Relations at the Montana Department of Commerce, and other Montana-based business and government representatives. Trade Minister Yeo and Governor Gianforte recognized that Korea and Montana have developed a close, mutually beneficial relationship through active trade in LNG, crude oil, and other energy sectors. They agreed to expand cooperation in energy, critical minerals, manufacturing, and industrial supply chains by leveraging Korea’s advanced manufacturing capabilities and Montana’s abundant natural resources to strengthen energy security and diversify supply chains. Trade Minister Yeo also raised visa issuance challenges, emphasizing that creating a stable investment environment and ensuring smooth visa processing for Korean companies is critical to prevent a recurrence of issues such as the recent case in Georgia. He requested Governor Gianforte’s attention and support in developing a fundamental solution to this matter. In addition, Trade Minister Yeo shared that Korea and the United States are discussing constructive and mutually beneficial approaches in ongoing tariff negotiations and called for active support and engagement from the Montana state government in this process. date2025-10-21

Korea’s Auto Industry Continues Growth Streak in September

The Ministry of Trade, Industry and Resources (MOTIR) announced on October 20 that Korea’s automobile exports, domestic sales, and production all increased year-on-year in September, marking the third consecutive month of growth. This was partly due to more working days compared to last year, when the Chuseok holiday fell in September. Automobile exports rose 16.8 percent year-on-year to USD 6.4 billion, the highest September level on record, with cumulative exports for January–September also reaching an all-time high of $54.1 billion. Eco-friendly vehicle exports surpassed 90,000 units for the first time, with electric vehicle (EV) exports increasing 38.9 percent and maintaining growth for the fourth consecutive month. Cumulative EV exports for January–September also turned positive for the first time this year, up 0.2 percent year-on-year. Domestic automobile sales grew 20.8 percent to 158,000 units, the highest monthly total since November 2023. EV sales jumped 135 percent to a record 29,000 units, pushing cumulative EV sales for January–September to 170,000 units, up 57.5 percent year-on-year and surpassing the previous annual record for domestic EV sales. Automobile production increased 8.9 percent to 334,000 units, bringing cumulative production for the first nine months to over 3 million vehicles.   date2025-10-21

Boom-Up Korea Week 2025 Opening Ceremony

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources attended the Boom-Up Korea Week 2025 Opening Ceremony on Tuesday, October 21, at KINTEX in Goyang, Gyeonggi Province.  The event was joined by KOTRA President and CEO Kang Kyung Sung, officials from related organizations, and representatives from about 4,000 promising export companies in the materials, parts, and equipment (MPE), ICT, services, and consumer goods sectors.  Minister Yeo participated in the opening performance of the event and toured the Boom-Up Week theme hall, corporate exhibition hall, and consultation hall showcasing Korea’s key export industries.   date2025-10-21

Korea to Expand Cooperation with Guangdong, China’s Largest Regional Economy

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Park Jong-won, Deputy Minister for Trade, will visit Guangdong Province in China from October 20 to 21, 2025, to attend the 10th Korea–Guangdong Development Forum and hold bilateral talks with Zhang Guozhi, Deputy Governor of Guangdong Province, to strengthen economic and industrial cooperation with China’s largest provincial economy. Guangdong ranks first among China’s 31 provinces and municipalities in both gross regional domestic product (GRDP) and foreign trade volume. In 2024, Korea–Guangdong trade totaled approximately USD 57.6 billion—exceeding Korea’s trade with its sixth-largest partner, Australia (USD 45.6 billion)—and accounted for 18 percent of total Korea–China trade, the second-largest share after Jiangsu Province. About 1,600 Korean companies, including Hyundai Motor’s hydrogen fuel cell plant and LG Display’s OLED plant, currently operate in the province. The Korea–Guangdong Development Forum, now in its 10th year, is the first high-level cooperation platform between the Korean and Chinese local governments. This year’s forum will bring together officials from both governments, business associations, and companies to share investment policies and discuss collaboration in emerging industries such as hydrogen, AI, and biotech, as well as strategies for Korean companies to expand into China’s domestic market. In his opening remarks, Deputy Minister Park will emphasize that amid global trade uncertainty and the continued diversification of Korea–China industrial relations, strengthening cooperation with Chinese provincial governments is vital to creating new business opportunities. He will propose deeper collaboration with Guangdong, China’s hub for advanced industries, in hydrogen, AI, and biotech, to promote mutual growth through expanded trade and investment. Deputy Minister Park will also meet with Deputy Governor Zhang Guozhi to discuss support for Korean companies operating in Guangdong, as well as ways to enhance supply chain stability and cooperation in new industries. He will express appreciation for Guangdong’s assistance in maintaining stable trade relations amid recent export control measures and stress the need to continue such collaboration. MOTIR stated that it will continue to strengthen partnerships with major Chinese provincial governments to promote practical cooperation that supports Korean companies’ business operations in China. date2025-10-20

Korea Leads Development of International Standards for Eco-Friendly and Autonomous Offshore Plants

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Resources announced that Korea will propose four new international standards reflecting next-generation offshore plant technologies at the ISO Technical Committee 67 (Oil and Gas Industries Including Lower Carbon Energy) General Assembly, to be held in Geoje, Gyeongsangnam-do, from October 20 to 24, 2025. This will be the first time ISO TC 67 holds its General Assembly in Korea since its founding in 1947. About 100 experts from 16 member countries are expected to attend to discuss international standards for the oil, gas, and renewable energy plant sectors. At the General Assembly, Korean companies including Samsung Heavy Industries will lead efforts to standardize key technologies that support unmanned operation and eco-friendliness in offshore plants. Korea will propose standards on “Safety Signage and Emergency Escape Route Requirements” for unmanned offshore plants and “Aerogel Insulation Installation Guidelines” for efficient operation of ammonia and hydrogen pipelines in renewable energy plants. Additional proposals include standardizing material specifications for piping and structural bolts and nuts suitable for marine environments to enhance structural safety, as well as establishing performance and testing standards for coating materials used in offshore plants to improve corrosion resistance and long-term durability. The event will also include a technical seminar highlighting Korea’s latest offshore plant technologies and a site tour of Samsung Heavy Industries’ shipyard and offshore production facilities, providing international experts with an opportunity to observe Korea’s technological leadership firsthand. KATS President Kim Dae-ja stated, “This ISO TC 67 General Assembly marks a significant opportunity for Korea to lead international standardization in the offshore plant sector. We will expand cooperation on next-generation technologies such as autonomous plants and renewable offshore energy, and actively support Korean companies’ entry into global markets.” date2025-10-20

MOTIR Explores Investment Cooperation with Japanese Advanced Materials, Parts, and Equipment Companies

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), together with the Korea Trade-Investment Promotion Agency (KOTRA, President and CEO Kang Kyung-sung), hosted the Korea–Japan Investment Forum on Friday, October 17, 2025, at The Okura Tokyo. The forum aimed to attract investment from Japan’s advanced materials, parts, and equipment companies into Korea and marked MOTIR’s second major overseas investment promotion event this year, following the Korea–France Investment Forum in September. Approximately 150 participants attended the event, including executives from leading Japanese high-tech companies such as Tokyo Electron (TEL), Mitsui Chemicals, and Tokyo Ohka Kogyo (TOK). Participants discussed Korea’s advanced industry trends, foreign investment environment, and opportunities for Korea–Japan technological collaboration, while also sharing success stories and exploring future investment partnerships. Global semiconductor equipment maker TEL drew strong attention by presenting its successful investment experience in Korea. Since entering the Korean market in 2006, TEL has focused on semiconductor equipment supply and R&D, maintaining close collaboration with Korea’s major semiconductor anchor companies. In his opening remarks, Yoo Beop-min, Director General for Investment Policy at MOTIR, emphasized, “By combining Japan’s technological strength in materials, parts, and equipment with Korea’s advanced manufacturing capabilities, the two countries can jointly achieve supply chain stability and innovation in high-tech industries.” He added, “The Korean government will further strengthen cash grants and other incentives for foreign investors contributing to supply chain resilience, technological advancement, and job creation, while working to remove regulatory barriers to position Korea as one of the world’s most business-friendly countries.” date2025-10-17

Korea and Sweden Discuss Strategic Cooperation Amid Global Trade Shifts

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the Korea–Sweden Sustainable Partnership Summit, held at Grand Hyatt Seoul on Thursday, October 16, 2025, as part of economic events marking the visit of Swedish Crown Princess Victoria to Korea. The annual summit, launched following reciprocal visits by the leaders of both countries in 2019, aims to strengthen bilateral economic cooperation. This year’s discussions focused on strategic collaboration to enhance sustainability and resilience in response to global trade challenges such as climate change, energy transition, and rising geopolitical tensions. The event brought together around 200 participants, including Crown Princess Victoria and Prince Daniel of Sweden, government officials, and major business leaders from both countries. Participants exchanged views on the role of leadership in building a resilient future and on the intersection of AI and sustainability. In addition, three memoranda of understanding (MOUs) were signed between Korean and Swedish companies and research institutes in the fields of power systems, semiconductors, and offshore wind, laying the groundwork for mutually beneficial private-sector cooperation. In his remarks, Vice Minister Moon emphasized the need for Korea and Sweden to strengthen their strategic partnership grounded in pragmatism amid growing global trade uncertainty. He added, “Through this summit, the two countries should develop a practical roadmap that encompasses both sustainability and security to generate new growth momentum, and the Korean government will fully support future-oriented cooperation with Sweden.” date2025-10-16

MOTIR Minister Meets Kazakhstan’s Deputy Prime Minister to Discuss Industrial and Trade Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources met with Kazakhstan’s Deputy Prime Minister Kanat Bozumbayev on Wednesday, October 15, 2025, at Lotte Hotel Seoul to discuss key issues in bilateral economic and trade cooperation. Deputy Prime Minister Bozumbayev was accompanied by four senior officials, including Sayasat Nurbek, Minister of Science and Higher Education, and Olzhas Saparbekov, Vice Minister of Industry and Construction. Minister Kim and Deputy Prime Minister Bozumbayev recognized the close and mutually beneficial relationship that has developed between the two countries since the establishment of diplomatic ties in 1992. They agreed on the need to further strengthen cooperation in various fields, including manufacturing, plant construction, and critical mineral supply chains, amid the rapidly changing global trade environment. At the meeting, Minister Kim proposed expanding collaboration in manufacturing and raised business concerns regarding the lack of logistics infrastructure for Kia’s new operations in Kazakhstan and the circulation of counterfeit Korean home appliances. He requested the Kazakh government’s attention and support to resolve these issues promptly. On plant sector cooperation, Minister Kim called for greater participation by Korean companies in new projects and support for ongoing construction projects. Regarding critical mineral supply chains, he suggested enhancing cooperation through the establishment of the Rare Metals Technology Cooperation Center, which will be supported by MOTIR’s official development assistance (ODA) program starting in 2026. On Kazakhstan’s Alatau City development project, Minister Kim emphasized that Korea possesses advanced technologies and extensive experience in areas such as eco-friendly development, artificial intelligence, and future mobility, and expressed hope to continue close cooperation in these fields. date2025-10-16

FDI Arrivals to Korea Edge Down 2% through Q3 2025

The Ministry of Trade, Industry and Resources (MOTIR) announced today that foreign direct investment (FDI) pledges to Korea in the first three quarters of 2025 (cumulative, Jan–Sep) decreased 18.0 percent year-on-year to USD 20.7 billion, while FDI arrivals over the same period fell 2.0 percent to $11.3 billion. By type, greenfield investment pledges dropped 6.1 percent to $17.8 billion, while M&A pledges plunged 54.0 percent to $2.9 billion amid a global slowdown in large-scale acquisitions. In contrast, greenfield arrivals rose 23.0 percent to $8.2 billion. By region, FDI pledges from the United States surged 58.9 percent to $5.0 billion, driven by investments in chemicals, distribution, and ICT, while pledges from the EU, Japan, and China fell 36.6 percent, 22.8 percent, and 36.9 percent, respectively. By industry, manufacturing-sector pledges decreased 29.1 percent to $8.7 billion, with gains in transport machinery offset by declines in electrical and electronic components. Service-sector pledges dropped 6.9 percent to $11.1 billion, but investment in distribution and information and communications increased, supported by sustained interest in AI-related fields such as data centers, autonomous driving software, and robotics.   date2025-10-15

Korea’s ICT Exports Hit Record High in September

The Ministry of Trade, Industry and Resources and the Ministry of Science and ICT announced on October 15 that Korea’s exports of ICT goods in September 2025 reached an all-time high of USD 25.4 billion (up 14.0 percent year-on-year), while imports rose 10.4 percent to $13.8 billion. The trade balance recorded a surplus of $11.7 billion, the second-largest on record. Despite ongoing global trade uncertainties, ICT exports reached their highest level ever, led by record-breaking semiconductor shipments for the second consecutive month, along with stronger exports of displays and communication equipment. Semiconductor exports hit a new record as memory prices continued to rise and demand for high-value products such as DDR5 and HBM remained strong. Display exports rebounded as OLED panel applications expanded in IT devices and demand recovered for mobile phones and laptops. Communication equipment exports grew on robust demand for automotive and 5G base station components in the United States and India. Meanwhile, mobile phone exports declined due to weaker component shipments, though strong finished product exports helped offset the drop. Exports of computers and peripherals also fell, affected by last year’s surge in SSD exports. By destination, exports increased to Taiwan (up 53.5 percent), Vietnam (up 20.8 percent), the EU (up 22.8 percent), Japan (up 13.0 percent), and China including Hong Kong (up 1.1 percent), driven largely by strong semiconductor shipments. Exports to the United States, however, fell 4.0 percent for the second consecutive month. ICT imports rose 10.4 percent year-on-year to $13.8 billion, with increases in displays, mobile phones, and computers/peripherals.    date2025-10-14