Ministry of Trade Industry and Resources

Korea–Ukraine Discuss Economic Cooperation

The Ministry of Trade, Industry and Energy (MOTIE, Minister JK Kim) announced that First Vice Minister Moon Shin-hak met with Marina Denysiuk, Deputy Minister of the Ministry for Communities and Territories Development of Ukraine, on Friday, September 19, 2025, at the Government Complex Seoul to discuss ways to strengthen bilateral cooperation. Vice Minister Moon expressed deep sympathy for the Ukrainian people and communities severely affected by more than three years of war, noting that Korea also rose from the ruins of war and therefore understands Ukraine’s hardships. He stressed that as a leading manufacturing country, Korea has strong potential to cooperate with Ukraine in plant and infrastructure construction and power equipment. He also noted that Ukraine, as one of the world’s major grain producers, could accelerate its agricultural recovery by working with Korean agricultural machinery equipped with advanced technologies such as artificial intelligence (AI). Deputy Minister Denysiuk thanked Korea for sharing its growth experience, highlighting that it could provide valuable insights for Ukraine’s reconstruction and future development. She emphasized the importance of expanding cooperation not only through government-to-government (G2G) channels but also through business-to-business (B2B) partnerships. In particular, she expressed strong interest in Korea’s support programs for small-scale independent power grids, or microgrids, describing them as essential infrastructure for community recovery. Vice Minister Moon stated, “We hope peace will be restored in Ukraine as soon as possible. Once conditions allow after the war, we look forward to Ukraine’s support so that Korean companies, with their extensive experience and technological expertise, can contribute to Ukraine’s reconstruction.” date2025-09-19

Korea–South Africa Insight Forum

Kim Jong-chul, Director General for International Trade Relations at the Ministry of Trade, Industry and Energy (MOTIE), attended the Korea–South Africa Insight Forum at the Diplomatic Center in Seocho-gu, Seoul, on Wednesday, September 17, 2025. The forum was joined by Sindiswa Mququ, Ambassador of South Africa to Korea, Kim Young-chae, President of the Korea-Africa Foundation, and representatives from related organizations and businesses. Kim delivered opening remarks at the event. date2025-09-18

Korea’s Auto Industry Maintains Growth Momentum in August

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 16 that Korea’s automobile exports, domestic sales, and production all increased year-on-year in August, marking the second consecutive month of growth. Automobile exports rose 8.6 percent to $5.5 billion, the highest August level on record. Cumulative exports for January–August also set a new record at $47.7 billion. By region, exports to the EU climbed 54.0 percent to $0.8 billion, while exports to non-EU European countries soared 73.2 percent to $0.6 billion. Exports of eco-friendly vehicles increased 26.6 percent to 69,000 units, continuing eight straight months of growth. Electric vehicle (EV) exports surged 78.4 percent to 23,000 units. Domestic automobile sales grew 8.3 percent to 139,000 units. Eco-friendly vehicles accounted for 50.7 percent of total sales, with 70,000 units sold (up 36.1 percent year-on-year). EV sales in particular rose 55.7 percent to 24,000 units. Cumulative EV sales for January–August reached 141,000 units, nearly matching the full-year 2024 total. Automobile production increased 7.1 percent year-on-year to 321,000 units, the highest August figure since 2013, supported by solid demand in both export and domestic markets.   date2025-09-17

MOTIE and the South African Embassy in Seoul Host Korea–South Africa Insight Forum

Korea and the Republic of South Africa (RSA)—Africa’s largest economy and an emerging market in the Global South—are moving to reinvigorate economic cooperation. The Ministry of Trade, Industry and Energy (MOTIE, Minister JK Kim) held the Korea-South Africa Insight Forum with the South African Embassy in Seoul (Ambassador Sindi Mququ) on 17 September 2025 at the Diplomacy Center in Yangjae-dong, Seoul, to discuss expanding cooperation with RSA, the host of the 2025 G20 Summit. * In 2024, RSA recorded the largest GDP (USD 400.2 billion) in Africa and was Korea’s second-largest trading partner in Africa, with bilateral trade totaling USD 3.3 billion. The G20 Trade and Investment Ministerial Meeting on 10 October 2025 and the G20 Summit on 22—23 November 2025 will serve as a momentum for high-level intergovernmental exchange between the Republic of Korea (ROK) and RSA. Against this backdrop, participants at the forum discussed cooperation across a range of areas, including manufacturing, supply chains, energy, critical minerals, and infrastructure development. * Participants included Jong-chul Kim, Director General of International Trade Relations at MOTIE; Sindi Mququ, Ambassador of the Republic of South Africa to the Republic of Korea; Young-chae Kim, Chairman of the Korea-Africa Foundation; Timothy Dickens, Chairman of the South African Chamber of Commerce in Korea; Jong-woo Lee, team leader of Hyosung Heavy Industries; Dr. Moon-su Kang of Korea Institute for International Economic Policy (KIEP); Sang-hyun Seo, chief researcher of POSCO Research Institute; and Sung-hyuck Yoon, advisor of DR & AJU LLC and former Head of Samsung Electronics’ African Business). RSA has been prioritizing the modernization of its power infrastructure and the rollout of clean energy to stabilize electricity supply and advance its energy transition. This creates clear scope for cooperation with Korea, which has excellent capabilities in power generation facilities, transmission and distribution networks, and energy storage systems (ESS). RSA also holds abundant critical minerals, with its production of platinum, manganese, and chrome ranking first in the world, prompting the forum to explore potential collaboration on critical-mineral supply chains. The forum also discussed ways to leverage RSA as a gateway to strengthen cooperation with Southern Africa and expand Korea–Africa trade, as implementation of the African Continental Free Trade Area (AfCFTA) is expected to accelerate. Director General Kim said, “RSA is the gateway for Korea to expand cooperation with Africa. This year’s G20 Summit will serve as a momentum for the two countries to actively explore cooperation across trade, investment, industry and energy.” Ambassador Sindi Mququ noted, “Through South Africa’s G20 presidency, we are mobilizing financing for a Just Energy Transition and harnessing critical minerals to advance inclusive growth and development. In this context, closer cooperation between South Africa and Korea will be both important and mutually beneficial.” date2025-09-17

The 4th Korea–Vietnam Plus Joint Working Group Meeting

Kim Jong-chul, Director General for International Trade Relations at the Ministry of Trade, Industry and Energy (MOTIE), co-chaired the 4th Korea–Vietnam Plus Joint Working Group meeting at the Korea Chamber of Commerce and Industry in Seoul on Monday, September 15, 2025. The meeting was attended virtually by Do Quoc Hung, Deputy Director General for Foreign Market Development at Vietnam’s Ministry of Industry and Trade, as well as delegations from both governments and representatives from KEPCO, KOTRA, GS1 Korea, and other related organizations. After the opening remarks, the two sides reviewed bilateral trade and investment trends, implementation plans for the MOU on nuclear energy workforce development, and follow-up measures from the recent summit. date2025-09-16

MOTIE Holds Director-Level Meetings with Vietnam

The Ministry of Trade, Industry and Energy (MOTIE, Minister JK Kim) held virtual meetings with Vietnam’s Ministry of Finance on September 12, 2025, and with the Ministry of Industry and Trade on September 15, 2025. The discussions focused on implementing the outcomes of the Korea-Vietnam summit in August, held during General Secretary To Lam’s state visit to Korea, and on follow-up measures. The first director-level meeting between MOTIE and Vietnam’s Ministry of Finance on September 12 was co-chaired by Kim Jong-chul, Director General for International Trade Relations, and Do Van Su, Director General of the Foreign Investment Agency. Participants included representatives from the Korean Embassy in Vietnam, the Vietnamese Embassy in Korea, and related organizations such as the Korea Electric Power Corporation (KEPCO), the Korea Institute for Advancement of Technology, and the Korea Federation of Textile Industries. Discussions addressed key business challenges, including: (1) prompt resolution of delayed VAT refunds for Korean textile companies operating in Vietnam, (2) succession of special incentives following HD Korea Shipbuilding & Offshore Engineering’s acquisition of Doosan Vina, and (3) timely support for the implementation of the global minimum tax. The two sides also reviewed proposals from the Vietnamese Ministry of Finance on cooperation in supply chains, energy, infrastructure development, and collaboration between public enterprises under both ministries. While the two ministries have co-hosted the Korea-Vietnam Business Forum, this meeting marked the establishment of their first regular consultation mechanism. Both sides agreed to use it as a starting point for continued cooperation in foreign investment, corporate support, and infrastructure development, including nuclear power and supply chains. The Vietnamese Ministry of Finance noted that although VAT refunds and incentive succession fall under local government jurisdiction, it is also holding direct consultations at the ministry level. The ministry added that it will actively support Korean companies on other issues, such as stable power supply and infrastructure expansion. On September 15, the fourth Korea-Vietnam Plus Joint Working Group meeting was held, co-chaired by Kim Jong-chul and Do Quoc Hung, Deputy Director General for Foreign Market Development at Vietnam’s Ministry of Industry and Trade. Participants included officials from both embassies, the Korea Trade-Investment Promotion Agency, GS1 Korea, KEPCO, and other relevant organizations. Launched in September 2023, the Joint Working Group serves as a director-level hotline platform to discuss trade and investment promotion measures, with the shared goal of expanding bilateral trade to USD 150 billion by 2030. In addition to trade and investment cooperation, the platform also addresses challenges faced by Korean companies operating in Vietnam. At the meeting, the two sides reviewed the status of bilateral trade and investment and discussed action plans to achieve the USD 150 billion trade target by 2030. They also examined follow-up measures from the summit, including plans for an MOU on nuclear energy workforce development. The Korean side requested support to address challenges facing Korean renewable energy investors in Vietnam, particularly on electricity sales, as well as on improving the regulatory framework for participation in LNG power projects. The Vietnamese side responded that it is actively working with relevant ministries and agencies to identify solutions and will share the results promptly. MOTIE stated that it will continue to actively support Korean investors in Vietnam through multilayered consultation channels, including the ministerial-level Korea-Vietnam Joint Industrial Committee and the Korea-Vietnam FTA Joint Committee, to help Korean businesses operate with greater predictability in the Vietnames date2025-09-16

Korea’s ICT Exports Up 11.1% in August

The Ministry of Trade, Industry and Energy and the Ministry of Science and ICT announced on September 15 that Korea’s exports of ICT goods in August 2025 rose 11.1 percent year-on-year to USD 22.9 billion, while imports grew 7.6 percent to $12.5 billion. The trade balance recorded a surplus of $10.3 billion. Despite new tariff measures, ICT exports reached an all-time high for the month of August, driven by record-breaking semiconductor shipments. Semiconductor exports surged 27.0 percent year-on-year, supported by rising DRAM and NAND contract prices and strong demand for high-value memory products such as DDR5 and HBM. Communication device exports increased 1.8 percent, supported by favorable demand for battlefield communications equipment in the U.S. and Mexico. By contrast, exports of displays (down 9.4 percent), mobile phones (down 15.4 percent), and computers/peripherals (down 16.6 percent) declined. Display exports fell on weak demand for TVs, monitors, and mobile devices. Mobile phone exports were weighed down by slowing parts shipments despite solid demand for new finished models. Computer and peripheral exports were impacted by last year’s high base for SSD shipments, though demand from data centers in China and the Netherlands helped narrow the decline. By destination, exports to Taiwan (up 65.6 percent), Vietnam (up 18.0 percent), the EU (up 8.2 percent), Japan (up 3.9 percent), and China including Hong Kong (up 0.3 percent) all increased, while exports to the U.S. fell 9.9 percent. ICT imports in August rose 7.6 percent year-on-year to $12.5 billion, driven by gains in semiconductors (up 4.7 percent), mobile phones (up 20.2 percent), and computers/peripherals (up 31.1 percent).   date2025-09-16

Korea Discusses Enhanced Industrial and Energy Cooperation with Saskatchewan, Canada

Deputy Minister for Trade Park Jong-won of the Ministry of Trade, Industry and Energy (MOTIE, Minister JK Kim), met Warren Kaeding, Saskatchewan’s Minister of Trade and Export Development, in Seoul on September 8, 2025, to discuss strengthening bilateral cooperation in industries, critical minerals, and energy. Saskatchewan is rich in natural resources, including uranium, natural gas, oil, and critical minerals. The province ranks first globally in both potash reserves and production, third in uranium reserves, and second in uranium production. It is also pursuing small modular reactors (SMRs) to decarbonize up to 80 percent of its electricity supply by 2030. The two sides noted that bilateral economic and trade relations have grown significantly since the Korea-Canada Free Trade Agreement entered into force in 2015, with trade nearly doubling over the past decade (from USD 8.6 billion to 17.2 billion). They agreed on the importance of expanding cooperation amid growing uncertainty in the global trade environment, driven by rising protectionism worldwide. Deputy Minister Park stated, “The enhanced cooperation between Korea and Saskatchewan is mutual beneficial from an energy security perspective, enabling Korea to secure stable energy supplies and Canada to diversify its energy exports.” With Korean companies investing actively in Canada, he also called for the Saskatchewan government’s continued support to expand bilateral cooperation in advanced strategic industries that are critical for the future and in clean energy, including batteries, SMRs, hydrogen, and critical minerals.   date2025-09-08

Vice Minister Attends Power Transformation Session of CEM16/MI-10

Korea’s Vice Minister of Trade, Industry and Energy Lee Ho-hyeon attended a high-level dialogue session of the 16th Clean Energy Ministerial Meeting (CEM16) and the 10th Mission Innovation Ministerial Meeting (MI-10) on Tuesday, August 26, 2025, at BEXCO in Busan, Korea. The session’s theme was “Power Transformation.” After delivering a keynote address, the vice minister discussed ways to expand carbon-free power generation facilities and electricity infrastructure to meet rising energy demand, while exploring strategies for power system innovation to accelerate the clean energy transition. The session brought together officials from member countries including the UK, China, Australia, and the Netherlands, as well as experts from domestic and international organizations and business leaders. date2025-09-08

Vice Minister Meets the Netherlands’ Vice Minister of Climate Policy and Green Growth

Korea’s Vice Minister of Trade, Industry and Energy Lee Ho-hyeon met with the Netherlands’ Vice Minister of Climate Policy and Green Growth Michel Heijdra on Tuesday, August 26, 2025, at BEXCO in Busan, Korea. The two sides discussed bilateral energy cooperation during the 16th Clean Energy Ministerial Meeting and the 10th Mission Innovation Ministerial Meeting held at the same venue. date2025-09-08