Ministry of Trade Industry and Resources

Minister Ahn awards companies at 22nd Automotive Day

Korea’s Minister of Trade, Industry and Energy attended the 22nd Automotive Day on May 14 in Seoul with the participation of 200 industry representatives and awarded 34 medals and orders of merit including the Silver Tower Order of Industrial Service Merit, which went to Anjun Industrial Co. for its contribution to the mass production of Korea’s first hybrid vehicle hollow stem valve. date2025-05-15

Trade Minister meets Philippine Trade and Industry Secretary

Minister for Trade Inkyo Cheong held bilateral talks with Philippine Trade and Industry Secretary Maria Cristina Aldeguer-Roque on May 14 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed APEC outcomes and measures to invigorate Korea-Philippine trade and investment. date2025-05-15

Trade Minister attends 1st ASEAN-ROK Think-tank Dialogue on Economic and Trade Policy

Korea’s Minister for Trade Inkyo Cheong attended the first ASEAN-ROK Think-tank Dialogue on Economic and Trade Policy (AKTD) on May 14 on Jeju Island, held with the participation of approximately 100 representatives from Korean and ASEAN major think tanks, the ASEAN Secretariat, Economic Research Institute for ASEAN and East Asia (ERIA), the Asia Foundation, Yonsei University, and the Korea-Southeast Asia Policy Cooperation Center. date2025-05-15

Minister Ahn attends 2025 Osaka-Kansai World Expo

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn attended the “Korea Day” events at the 2025 Osaka-Kansai World Expo on May 13 with both governments’ delegations and business leaders, where he gave an opening address and visited the Korea Pavilion and other major exhibition booths.  date2025-05-15

Global Trade Leaders Gather in Jeju for the 2025 APEC MRT Meeting

Korea’s Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) is hosting the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) meeting on May 15–16, 2025, at the International Convention Center Jeju (ICC Jeju). With Korea serving as APEC chair for the first time in 20 years since 2005, Minister for Trade Cheong In-kyo is chairing the MRT meeting. Attendees include trade ministers from 21 major economies in the Asia-Pacific region, including Australia, Canada, Chile, China, Japan, and the U.S., as well as the WTO Director-General and the OECD Deputy Secretary-General. Amid the rapidly shifting global trade environment, the 2025 APEC MRT meeting will be the first official gathering of trade ministers for multilateral cooperation. Discussions will cover a range of trade issues and intraregional cooperation measures, such as the liberalization and facilitation of trade and investment. Under the 2025 APEC theme of “Building a Sustainable Tomorrow: Connect, Innovate, Prosper,” the meeting will feature three sessions: AI innovation for trade facilitation, connection through multilateral trade, and prosperity through sustainable trade.  In the first session, participants will discuss various cooperation measures to promote the use of AI in trade, such as AI application in tariffs and customs and standard information sharing, with OECD Deputy Secretary-General Yoshiki Takeuchi as the keynote speaker. The second session will focus on WTO reform and APEC’s role in restoring the multilateral trade system. WTO Director-General Ngozi Okonjo-Iweala will speak on WTO reform and future cooperation for multilateral trade. The last session, to be held on May 16, 2025, will address prosperity through sustainable trade. Participants will exchange views on joint efforts in establishing a sustainable supply chain, including climate crisis response. In his opening remarks, Trade Minister Cheong noted the current difficult external environment surrounding APEC and stated that the need for APEC is greater than ever amid severe global trade uncertainty. He expressed hope that the meeting will serve as a platform for dialogue and cooperation to help ease political and economic tensions and uncertainties facing the world today. date2025-05-15

Korea’s ICT exports grow 10.8% in April

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) announced today that Korea’s exports of information and communications technology (ICT) goods for the month of April 2025 gained 10.8 percent year-on-year to USD 18.9 billion, while imports inched down 2.4 percent to $11.3 billion. The trade balance netted a surplus of $7.6 billion. Despite global trade uncertainties, April ICT exports saw solid growth momentum overall with semiconductors (up 17.2 percent to $11.7 billion) hitting all-time highs for the month. Mobile phones (up 28.6 percent) and communication devices (up 3.5 percent) likewise advanced, whereas exports of displays (down 7.6 percent) and computers/peripherals (down 11.9 percent) retreated. The growth of semiconductor exports is attributable to the rebound in fixed prices of DRAMs and heightened demand for high value-added chips like HBMs and DDR5s. Mobile phones maintained an upward trajectory powered by finished products’ export recovery and robust demand from overseas parts manufacturers. Communication device exports advanced on the backs of strong demand for automotive and 5G equipment.  Meanwhile, display exports shrank due to slower demand and an ensuing change in the shipment schedule. Computers/peripherals experienced a temporary slowdown in demand from increased inventory levels, exports turning to a contraction for the first time in 16 months. By region, Korea’s April ICT exports expanded to the U.S. (up 0.5 percent), Vietnam (up 13.4 percent), the EU (up 14.7 percent), and Japan (up 8.5 percent), whereas those to China (including Hong Kong) (down 1.5 percent) slid.   date2025-05-14

Korea and ASEAN Think Tanks Launch Policy Platform for Trade and Economic Cooperation

Trade Minister Cheong In-kyo of the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) attended the first ASEAN-ROK Think-Tank Dialogue on Economic and Trade Policy (AKTD) on Jeju Island on May 14, 2025. The event brought together approximately 100 participants, including representatives from Korean and ASEAN major think tanks, the ASEAN Secretariat, Economic Research Institute for ASEAN and East Asia (ERIA), the Asia Foundation, Yonsei University, and the Korea-Southeast Asia Policy Cooperation Center. AKTD is the first economic and trade cooperation project launched since  ROK-ASEAN diplomatic relations were elevated to a comprehensive strategic partnership at the 25th ROK-ASEAN Summit held in Vientiane, Lao PDR, in October 2024. It is also a ROK-ASEAN policy research platform to identify sustainable economic cooperation projects and support policy capacity building in ASEAN member states. The inaugural conference is significant in that Korea and 10 ASEAN think tanks gathered to establish a systematic policy dialogue channel for future economic and trade policy cooperation. In his welcoming remarks, Trade Minister Cheong noted that ASEAN is Korea’s third-largest trading partner and second-largest foreign direct investment (FDI) destination, highlighting that the two sides have continued to strengthen mutually beneficial cooperation in trade and economic areas. In view of ROK-ASEAN relations having advanced to a comprehensive strategic partnership, he expressed hope that AKTD would develop into a flagship ROK-ASEAN policy cooperation by helping identify and launch joint projects. During the forum session, Korea Institute for Industrial Economics & Trade (KIET) President Kwon Nam-hoon delivered a keynote speech on the role of think tanks for national development. Speakers from ERIA, the Institute of Malaysian and International Studies (IKMAS), and the Korea Institute for International Economic Policy (KIEP) then presented on ASEAN’s trade and economic development strategies. A panel discussion followed, chaired by the Asia Foundation’s Korean representative Song Kyung-jin. IKMAS Director Sufian Jusoh welcomed the launch of AKTD and pledged IKMAS’ active participation and support in its joint research projects and other events this year. In the subsequent roundtable session, participants discussed the basic direction for AKTD’s future operations and formally adopted the “Operational Guidelines for the AKTD,” signed by KIET and nine ASEAN think tanks. The guidelines will serve as a critical foundation for establishing AKTD as a sustainable cooperative platform that can support ASEAN’s economic development policies. MOTIE will report AKTD’s joint research outcomes at the 22nd ASEAN Economic Ministers (AEM)-ROK Consultation slated for September 2025 in Malaysia, while also preparing a follow-up conference in coordination with the ASEAN chair and the ASEAN Secretariat. date2025-05-14

Korean Culture and Technology Capture Global Attention at 2025 Osaka-Kansai World Expo

The Ministry of Trade, Industry, and Energy (MOTIE, Minister Ahn Duk-geun), Ministry of Culture, Sports, and Tourism (MCST), Ministry of Foreign Affairs (MOFA), Ministry of Agriculture, Food, and Rural Affairs (MAFRA), and the Korea Heritage Service (KHS) announced that Korea will host the five-day Korea Week (May 13–17) at the 2025 Osaka-Kansai World Expo, starting with Korea Day. Approximately 350 visitors attended the Korea Day event launched on May 13, 2025, including a total of 30 government officials and business leaders of both countries. The Korea Day event features a series of programs celebrating the history of Korea-Japan exchanges, beginning with a reenactment of the Joseon Tongsinsa procession commemorating the port entry of the ship that carried diplomatic envoys from the Joseon Dynasty into Osaka. The Joseon Tongsinsa was the Joseon Dynasty’s delegation for bilateral exchanges in the 17–19th century. Related records are jointly registered by the two countries on the UNESCO Memory of the World Register in 2017. The government officials and business leaders from both countries also visited the Japan Pavilion and the Korea Pavilion. Under the theme “Between Lives,” the Japan Pavilion features plant, farm, and factory zones showcasing the use of Japan’s cutting-edge technology in waste decomposition, recycling, and the circular economy. The Korea Pavilion, themed “With Hearts,” presents a blend of advanced technology and culture through AI, hydrogen fuel cells, and K-Pop to illustrate environmental recovery and intergenerational connection. Since its opening on April 13, the Korea Pavilion has attracted about 350,000 visitors and ranks as one of the most popular national pavilions at the Expo. Officials and business leaders then attended major sideline events, including the Korea Tourism Festa and K-Food Fair. A B2B and B2C marketing exhibition space brought together 90 Korean firms and 160 Japanese buyer companies, featuring a wide range of cosmetics and daily necessities produced by Korean SMEs as well as IT home appliances and mobility products of Samsung Electronics and Hyundai Motor, providing visitors the opportunity to experience the products firsthand. MOTIE Minister Ahn Duk-geun stated that growing global interest in the Korean lifestyle and culture is increasing demand for Korean products and technology, creating a virtuous cycle. He added that the government will build on the Expo to generate synergy so that Korea’s strengths in these areas can translate into stronger national competitiveness. Held as the final official program, the Korea-Japan Friendship Dinner brought together around 100 key figures of both countries to wish success for the 2025 Osaka-Kansai World Expo. date2025-05-13

Korea-Uzbekistan Insight Forum Co-Hosted by MOTIE & Uzbekistan Embassy to Korea

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) and the Embassy of the Republic of Uzbekistan in Korea (Ambassador Alisher Abdusalomov) co-hosted the Korea-Uzbekistan Insight Forum at the Embassy of Uzbekistan in Korea on Tuesday, May 13, 2025. The forum brought together officials from both governments and representatives of relevant institutions to review ongoing cooperation projects and discuss ways to enhance bilateral economic collaboration. Participants reaffirmed the importance of the Korea–Uzbekistan Special Strategic Partnership and emphasized the need for practical cooperation in supply chains, energy, infrastructure, advanced technologies, trade, and investment. Kim Jong-chul, Director General of MOTIE’s Bureau of International Trade Relations, stated that the two countries should continue to build a future-oriented cooperation framework that supports a stronger economic partnership and delivers tangible outcomes amid a rapidly changing global trade environment. Ambassador Abdusalomov echoed the view and suggested developing a joint long-term strategic program for high-tech and innovative partnership. This program would encompass key sectors such as critical mineral resources, semiconductors, the chemical industry, automotive production, smart agriculture, infrastructure and urban development, and green energy. He also emphasized the need to continue implementing joint ODA projects that strengthen Uzbekistan’s industrial capacities. These initiatives are expected to create opportunities for Korean companies to strengthen and expand their participation in regional and global supply chains.  The Korean and Uzbek governments said they will actively utilize bilateral cooperation platforms, including the Korea-Uzbekistan Joint Committee on Trade and Economy, to enhance policy communication and collaboration across a wide range of sectors. date2025-05-13

Korea-Saudi Business and Investment Forum

Korea’s Deputy Minister for Trade Park Jong-won attended the Korea-Saudi Business and Investment Forum on May 9 in Seoul and gave a congratulatory address to approximately 250 participants composed of Korean and Saudi government officials and related institutions. date2025-05-12