Ministry of Trade Industry and Resources

Korea Trade Commission Holds 460th Meeting

The Korea Trade Commission (KTC) under the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) held the 460th KTC meeting at the Government Complex Sejong on May 22, 2025, to deliberate on and resolve one anti-dumping investigation and receive a report on three newly launched anti-dumping investigations. Regarding the anti-dumping investigations on Chinese and Taiwanese petroleum resin initiated in August 2024, the KTC determined that products have been dumped and that the dumped imports had caused injury to domestic industries. Accordingly, the KTC recommended a five-year anti-dumping duty of between 2.26% and 18.52% on the said products to Korea’s Minister of Economy and Finance. The KTC also received a report on three newly launched anti-dumping investigations on fiberboards imported from Thailand, industrial robots from Japan and China, and butyl glycol ether (BGE)from Saudi Arabia. On the same day, the KTC held a public hearing on injury to the domestic industry from dumped imports of hot-rolled carbon and other alloy steel plates from China, for which investigations were initiated in October 2024. The hearing was held ahead of the final determination to give interested parties sufficient opportunity to make statements and ensure their rights of defense. The said products are currently subject to a provisional anti-dumping duty of between 27.91% and 38.02% through April 24–August 23, 2025. The final determination will be issued in the second half of 2025 following domestic and overseas due diligence procedures. date2025-05-22

Korea Leads IPEF Crisis Exercise to Strengthen Indo-Pacific Supply Chain Coordination

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) announced that as the Chair of the Indo-Pacific Economic Framework for Prosperity (IPEF) Crisis Response Network (CRN), Korea will host a virtual supply chain emergency tabletop exercise on May 22, 2025, to strengthen cooperation among IPEF partners in rapid responses to supply chain disruptions and enhance their crisis response capacity. The tabletop exercise will simulate a scenario in which member “Country A,” facing a shortage of therapeutic agents amid an outbreak of an unidentified acute respiratory infection, requests CRN Chair Korea to convene an emergency meeting to assist procurement. Through simulation, IPEF partners will assess the outbreak’s impact on the intraregional supply chain and explore support measures among member countries. As the second such exercise since last year, today’s simulation is designed not only to closely reflect a real emergency by incorporating input from the pharmaceutical supply chain experts and partner countries, but also to involve the ministries overseeing pharmaceuticals to maximize the effectiveness of the exercise. On the sidelines of the virtual tabletop exercise, Korea and Australia will introduce to IPEF partners the details of their joint supply chain capacity-building project. The two countries plan to provide country-tailored training on supply chain management and crisis response policymaking to reinforce IPEF partners’ capacity to respond to supply chain disruptions. They will also share best practices and discuss ways to improve CRN operations. MOTIE plans to launch an in-person CRN tabletop exercise in the second half of 2025 and to continue advancing the Korea-Australia IPEF supply chain capacity building project. date2025-05-22

Deputy Trade Minister meets Papua New Guinea’s International Trade and Investment Secretary

Korea’s Deputy Minister for Trade Park Jong-won met Papua New Guinea’s International Trade and Investment Secretary Jacinta Warakai-Manua on May 14 at ICC Jeju on the sidelines of the 2025 APEC MRT Meeting and discussed bilateral trade issues. date2025-05-21

Korea’s automobile exports record $6.5 billion in April

Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced today that domestic automobile sales for the month of April 2025 logged 150,622 units, increasing month-on-month for the third consecutive month. Domestic sales advanced 6.7 percent year-on-year on the backs of continued demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs), each gaining 50.3 percent and 29.9 percent year-on-year, respectively, in terms of units. Their aggregate sales volume accounts for 46 percent (68,048 units) of Korea’s entire domestic sales in April. Korea’s automobile exports for April (USD 6.5 billion) saw growth in destinations like the EU, Asia, Middle East, Latin America, and Africa. Exports to the EU advanced 26.7 percent year-on-year, based on strong demand for Korean EV models in the local market. Moreover, the robust exports of secondhand cars helped boost auto exports to non-EU European countries (up 11.6 percent) and Asia (up 53.9 percent). Meanwhile, U.S.-bound automobile exports shrank 19.6 percent from the impact of tariffs and other factors, including a major Korean automaker’s opening of a new production plant in Georgia, U.S. Automobile production inched down by only 2.2 percent to 385,621 units in spite of growing trade uncertainties, powered by surging domestic sales and Korean automobiles’ solid performance in the EU and non-U.S. markets.   date2025-05-20

Minister Ahn meets U.S. Trade Representative

Trade, Industry and Energy Minister Dukgeun Ahn met with U.S. Trade Representative Jamieson Greer on May 16 at ICC Jeju and reviewed the Korea-U.S. technical discussions held on May 1 and agreed to hold further consultations going forward. date2025-05-19

Deputy Trade Minister meets Chile’s Undersecretary for International Economic Relations

Korea’s Deputy Minister for Trade Park Jong-won met with Claudia Sanhueza Riveros, Chile’s Undersecretary for International Economic Relations, on May 16 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed progress on the Korea-Chile FTA upgrade negotiations. date2025-05-19

Deputy Minister for Trade meets Canada’s Special Envoy for the Indo-Pacific

Korea’s Deputy Minister for Trade Park Jong-won met with Ian McKay, Canada’s Special Envoy for the Indo-Pacific and Ambassador to Japan on May 16 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed bilateral trade and investment cooperation. date2025-05-19

Trade Minister Cheong meets with Japan's METI & MOFA vice ministers

Minister for Trade Inkyo Cheong met with Masaki Okushi, Vice Minister of Japan’s Ministry of Economy, Trade and Industry (METI), and Miyaji Takuma, Vice Minister of Japan’s Ministry of Foreign Affairs (MOFA), on May 16 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed multilateral trade cooperation and Korea-Japan economic cooperation. date2025-05-19

Korea Strengthens Cooperation with Asia-Pacific Economies to Address Global Trade Uncertainties

Minister for Trade Cheong In-kyo of the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) held high-level bilateral talks on Jeju Island on May 14–16, 2025, with trade representatives of 14 APEC member economies and the World Trade Organization (WTO), on the sidelines of the 2025 APEC Ministers Responsible for Trade (MRT) Meeting. The talks reviewed the recent developments in U.S. tariff consultations with major economies and discussed measures to enhance trade and economic cooperation in addressing global trade uncertainties. First, Trade Minister Cheong met with U.S. Trade Representative Jamieson Greer on May 15 to review the status of U.S. tariff consultations with major economies and exchange views on the Korea-U.S. technical discussions launched on May 1, 2025. Representative Greer noted Korea’s efforts to deliver meaningful outcomes as chair of APEC 2025 through the 2025 APEC MRT Meeting. On May 16, Trade Minister Cheong met with Masaki Okushi, Vice Minister of Japan’s Ministry of Economy, Trade and Industry (METI), and Miyaji Takuma, Vice Minister of Japan’s Ministry of Foreign Affairs (MOFA). Commemorating the 60th anniversary of the normalization of diplomatic relations, the two sides agreed to deepen collaboration in advanced industries, hydrogen and other emerging energy sectors, and supply chain resilience. They also pledged to work together toward the success of APEC 2025 and the Osaka-Kansai Expo and to actively leverage both Korea-Japan and Korea-U.S.-Japan cooperation platforms. In his meeting with Indonesia’s Minister of Trade Budi Santoso, Trade Minister Cheong highlighted that more than 2,000 Korean companies are currently operating in Indonesia, requesting the Indonesian government’s support in resolving issues affecting Korean firms, including local certification and import restrictions, so as to ensure stable business operations. Meanwhile, Korea’s Deputy Minister for Trade Park Jong-won met with Ian McKay, Canada’s Special Envoy for the Indo-Pacific and Ambassador to Japan, to discuss ways to expand Korea-Canada cooperation as the two countries mark the 10th anniversary of their bilateral FTA and to discuss support for Korean companies operating in Canada. He also met with Claudia Sanhueza Riveros, Chile’s Undersecretary for International Economic Relations, to review progress in the Korea-Chile FTA upgrade negotiations and to ask for the Chilean government’s support for Korean companies seeking to participate in Chile’s lithium development projects. Trade Minister Cheong stated that the bilateral talks with 14 Asia-Pacific economies’ trade leaders and the WTO Director-General helped Korea share insights on global developments and trade response measures, while advancing close cooperation on key issues such as building resilient critical minerals supply chains, expanding trade networks, and addressing challenges faced by Korean companies operating overseas. He added that the ministry will strive to mitigate trade uncertainties and external risks based on the insights and strengthened intraregional cooperation. date2025-05-19

Minister meets WTO Director-General

Trade, Industry and Energy Minister Dukgeun Ahn met with WTO Director-General Ngozi Okonjo-Iweala on May 16 in Seoul and discussed issues on the global trade and economic environment, the importance of multilateral trade, and cooperation with the WTO. date2025-05-19