Ministry of Trade Industry and Resources

Korea and the UK Hold Sixth Round of FTA Upgrade Negotiations

Amid growing calls to pursue proactive trade policies to overcome global trade uncertainty and strengthen Korea’s export-driven economy, the sixth round of negotiations to upgrade the Korea–UK Free Trade Agreement (FTA) is being held in Seoul from Monday, November 10, to Friday, November 14. The Office of Trade Negotiations under the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that delegations comprising around 60 officials from both countries will participate in the discussions, led respectively by Kwon Hye-jin, Director General for FTA Negotiations at MOTIR, and Adam Fenn, Deputy Director at the UK Department for Business and Trade, as chief negotiators. Following the United Kingdom’s withdrawal from the European Union (Brexit), Korea and the UK signed the Korea–UK FTA, which took effect in 2021, based on the Korea–EU FTA. Since launching the first round of upgrade negotiations in January 2024, the two sides have held five official rounds and multiple intersessional meetings aimed at easing strict rules of origin, expanding bilateral trade and investment, and establishing a future-oriented cooperation framework to address supply chain disruptions. The sixth round will focus on remaining issues related to services and investment. Trade Minister Yeo Han-koo, who visited the negotiation venue to encourage both delegations, stated, “The upgraded Korea–UK FTA will serve as a modern, comprehensive agreement encompassing not only additional market access but also emerging trade issues such as supply chain resilience and digital trade norms.” He urged the negotiators to make every effort to reach consensus on the remaining issues and conclude the negotiations as swiftly as possible.   date2025-11-10

K-Consumer Goods Take Center Stage in New York as Korean Wave Captivates the U.S.

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) and the Korea Trade-Investment Promotion Agency (KOTRA, President and CEO Kang Kyung Sung) held the “Korea Brand & Entertainment Expo (KBEE) 2025 NEW YORK” from November 6 to 8 at the American Dream Mall in New Jersey. Now in its 25th edition, the KBEE leverages the growing global popularity of the Korean Wave to promote Korea's promising consumer goods and services, support their entry into overseas markets, and enhance brand recognition. This year’s edition—the first-ever KBEE held in North America—was designed to expand the global reach of K-consumer goods and provide small and medium-sized enterprises (SMEs) with more opportunities to engage directly with local consumers and buyers by linking K-culture and lifestyle products. The KBEE 2025 NEW YORK brought together 335 companies from Korea and abroad and attracted approximately 20,000 visitors over three days. About 100 Korean companies specializing in premium consumer goods—including K-beauty, food, and fashion—held export consultations with 235 buyers from North America and Latin America. The opening ceremony was attended by Lee Sang-ho, Acting Consul General of the Republic of Korea in New York, and KOTRA President Kang Kyung Sung. The event featured celebratory performances and fan events with Hallyu ambassadors Ha Ji-won, Taemin, and Hwasa, further heightening the excitement. With K-content’s soaring popularity in the United States, demand for K-consumer goods continues to grow rapidly. In 2024, K-beauty ranked first among imported cosmetics in the United States, while exports of K-food—led by products such as ramen and dried seaweed—increased by an annual average of 10 percent over the past decade, establishing a strong foothold in the local market. MOTIR strategically leveraged the KBEE to support the overseas expansion of various Korean consumer goods and content, including K-food, K-beauty, and K-merchandise. To expand retail entry and sales, the ministry also organized O2O-based showcases in collaboration with major local distribution networks. In addition, MOTIR plans to hold another KBEE in Kuala Lumpur, Malaysia, in December to further diversify export markets for K-consumer goods. A MOTIR official stated, “The export strategy connecting K-culture and K-consumer goods in North America has created meaningful momentum for SMEs seeking to expand overseas. We will continue to diversify export markets through events such as the New York and upcoming Malaysia KBEEs, and strengthen policy support to help K-consumer goods grow into global brands.”   date2025-11-10

Korea and Australia Launch Joint Project to Strengthen Supply Chain Capabilities in Developing Countries

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that it will jointly implement the IMPACT Project (Supply Chain Identification, Monitoring, Preparation and Action Capability Training Project) with the Australian government to enhance supply chain crisis response capabilities in developing countries across the Indo-Pacific region. As the chair of the Crisis Response Network (CRN) under the Indo-Pacific Economic Framework for Prosperity (IPEF), Korea successfully hosted a supply chain crisis response simulation exercise in Seoul in October. Building on that achievement, MOTIR is expanding regional supply chain cooperation through the IMPACT Project, which has been co-developed with the Australian government since June last year. Recognizing the need to strengthen developing countries’ supply chain capabilities during IPEF negotiations, Korea and Australia secured the necessary funding through close consultations and developed a training program aimed at improving practical crisis response capacity across the region. The IMPACT Project consists of three stages: (1) preliminary assessment of national supply chain capabilities, (2) local training, and (3) evaluation and follow-up measures. The local training sessions will provide practical education tailored to each country’s priorities, based on training materials jointly developed by Korea and Australia. Topics include identifying key supply chains, data-driven management, governance establishment, and disruption response. Starting with Indonesia and Thailand, MOTIR plans to deliver customized local training programs to a total of seven IPEF member countries—including Malaysia, the Philippines, Vietnam, India, and Fiji—by next year, helping to enhance their supply chain management and crisis response capabilities. Lee Jae-keun, Director General for New Trade Strategy and Policy at MOTIR, stated, “Following the recent crisis response simulation under the IPEF network, the IMPACT Project will serve as a practical follow-up initiative to strengthen developing countries’ operational capabilities and further stabilize supply chains across the region. As supply chain resilience in critical minerals and high-tech industries has become a global priority, this project will reinforce Korea’s role as a central partner in regional cooperation.”   date2025-11-10

K-Beauty Expands Global Reach with New Export Models

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) visited the headquarters of SILICON2, a cosmetics distribution company, on Thursday, November 6, to review Korea’s cosmetics export performance and hear firsthand from industry representatives about the challenges faced when entering global markets. Korea’s cosmetics exports reached a record USD 10.2 billion in 2024 and totaled USD 9.42 billion as of October 2025 (up 11.9 percent year-on-year). Export destinations are also diversifying beyond the U.S. and Japan to include Europe, the Middle East, and Latin America. SILICON2, a cosmetics distribution specialist that operates StyleKorean.com—Korea’s largest e-commerce platform for direct-to-consumer (D2C) exports of beauty products—features over 500 Korean beauty brands in 150 countries. The company also runs MOIDA, a chain of overseas stores located in the United States, the United Kingdom, France, and Indonesia, further expanding its global presence. MOTIR plans to provide comprehensive support to help the rapidly growing K-beauty industry, driven by the global popularity of the Korean Wave, expand its presence in international markets. First, to promote D2C exports, the ministry will introduce new programs next year to support the development of global online malls and delivery and payment service solutions. Second, through its consumer goods trade centers, MOTIR will offer hands-on assistance to Korean cosmetics companies in addressing challenges such as logistics, certification, and legal compliance when entering overseas markets. Lastly, the ministry will actively support participation in major international beauty exhibitions and facilitate entry into local and global online and offline distribution channels. Trade Minister Yeo Han-koo stated, “Korea’s cosmetics industry has strengthened its global presence with trendy products and innovative technologies, but growing protectionism and import regulations could pose challenges to future expansion. MOTIR will continue to identify and address these issues while fostering new export models, such as D2C exports, so that K-beauty can reach consumers around the world more directly.”   date2025-11-07

Korea to Invest KRW 940 Billion in Advanced Medical Device R&D Over Seven Years

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan), the Ministry of Science and ICT (MSIT, Deputy Prime Minister and Minister Bae Kyung-hoon), the Ministry of Health and Welfare (MOHW, Minister Jeong Eun Kyeong), and the Ministry of Food and Drug Safety (MFDS, Minister Oh Yu-kyoung) announced plans to launch the second phase of the Inter-Ministerial Advanced Medical Device R&D Program, investing a total of KRW 940.8 billion (KRW 838.3 billion in government funding and KRW 102.5 billion in private investment) over seven years from 2026 to 2032. The program aims to develop six game-changing medical devices that are world-first or world-leading and to localize 13 essential medical devices. This inter-ministerial initiative will support the entire R&D cycle—from basic and fundamental research to commercialization, clinical trials, and regulatory approval. In particular, it will focus on future growth areas such as AI- and robotics-based medical devices, strengthening global competitiveness and fostering the medical device industry as a national growth engine. Building on the success of the first-phase Inter-Ministerial Full-Cycle Medical Device R&D Program (2020–2024), the new initiative passed the preliminary feasibility study for national R&D programs in August 2025. During the first phase, a total of 467 projects were supported, resulting in 433 regulatory approvals (331 domestic and 102 overseas), 72 technology transfers, and 254 cases of commercialization over the past five years. Notable achievements include the localization of hemodialysis filters, previously fully imported, and the development of the world’s first AI-based stroke diagnostic-assistance software medical device. The government plans to continue full-cycle R&D support through this follow-up program to ensure these achievements are sustained. To that end, the four ministries held a joint briefing session on Wednesday, November 5, at the President Hotel in Jung-gu, Seoul, to present details of the program’s second phase. The session aimed to improve understanding among researchers from industry, academia, research institutes, and medical institutions and to encourage active participation. It covered the program’s main features, participation guidelines for 2026 projects, and key schedules, followed by a Q&A session and on-site feedback. The government emphasized that this initiative is a cross-ministerial collaboration to support the development of advanced medical devices as a national growth driver and reaffirmed its commitment to ongoing communication with researchers to reflect their input and ensure the program’s successful implementation.   date2025-11-06

Korea Launches K-Quantum Industry Alliance to Accelerate Commercialization

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) held the launch event for the “K-Quantum Industry Alliance” on Wednesday, November 5, at Lotte Hotel Seoul. The event was attended by Vice Minister Moon Shin-hak, Rep. Lee Eon-ju, a Supreme Council Member of the Democratic Party of Korea, and about 150 participants from quantum technology suppliers and user companies, universities, research institutes, financial institutions, and support organizations. This launch marks a turning point for Korea’s quantum technology ecosystem, shifting from research-institute-led R&D to industry-driven application and expansion. Participating companies, universities, financial institutions, and support organizations signed a memorandum of understanding (MOU) to cooperate closely in promoting the industrialization of quantum technology. The MOU covers key areas such as developing industry-specific use cases, improving standards and regulations, and supporting global expansion. Overview of the K-Quantum Industry Alliance MOU Date & Venue: November 5, 2025 (Wed) / Garnet Suite, Lotte Hotel Seoul Participants (34 organizations in total): User Companies: Samsung Electronics, Hyundai Motor, Hanwha Ocean, Samsung Biologics, Hyosung Advanced Materials, LIG Nex1, EcoPro, JW Holdings Suppliers: Taihan Fiberoptics, Wooriro, Wooshin Technical Research, MICROINFINITY, Withwave, Korea Advanced Materials, SDT, PharmCADD, QuantumKelvin Universities: GIST, Pai Chai University, Yonsei University, Jeonbuk National University Financial Institutions: KB Kookmin Bank, Shinhan Bank, Hana Bank, IBK Industrial Bank of Korea, Korea Technology Finance Corporation, Korea Credit Guarantee Fund, POSCO Investment Support Organizations: KOTRA, KIAT, KEIT, KTL, Korea Industry Alliance Forum, Korea Quantum Association  Main Agenda: Joint efforts to identify new projects and policy proposals, develop industry use cases, foster talent, and support global expansion In addition, MOTIR announced the Quantum Technology Industrialization Project, which aims to localize key quantum components and materials, including superconducting quantum processing unit (QPU) packaging and cryocoolers. The ministry will also expand quantum software development and verification to solve industrial challenges and will establish a quantum-supercomputing integrated platform with hands-on training programs linking academia and industry, enabling companies to design and apply quantum models directly. Vice Minister Moon Shin-hak stated, “The government will spare no effort to help Korean quantum component and material companies seize this golden window of opportunity and join the global value chain. We will further strengthen the public-private cooperation model so that Korean companies can swiftly apply quantum technologies in industrial settings to solve challenges and maximize efficiency.”   date2025-11-06

Korea Hosts “Global Certification Trend 2025” to Support Consumer Goods Exporters

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Resources (MOTIR) hosted the “Global Certification Trend 2025” event on Wednesday, November 5, at the SETEC Convention Center. The event was co-hosted with the Overseas Certification Support Network and major global certification bodies. In recent developments, the European Union has established the Ecodesign for Sustainable Products Regulation (ESPR) to promote global environmental protection, which includes the introduction of Digital Product Passports (DPPs) for textile products. The EU has also enacted the Cyber Resilience Act to strengthen the security of digital products and require related certifications. Both measures are set to take effect in 2027. Meanwhile, Indonesia plans to make halal certification mandatory for food and cosmetics beginning in October 2026, and India is set to introduce BIS certification for machinery and electrical equipment in September 2026 to enhance industrial safety—reflecting a broader trend of tightening certification systems across emerging markets. The event aimed to help Korean companies prepare in advance for these evolving global technical regulations and certification systems by providing updates on the latest certification trends in the United States, the EU, and emerging markets, focusing on consumer goods such as cosmetics, food, and textiles. It also introduced comprehensive export-support programs offered by organizations including KOTRA and the Korea International Trade Association (KITA) to assist companies in developing export strategies for the coming year. In his keynote address, Professor Sung Yun-mo of Chung-Ang University presented on “Response Strategies for Korean Exporters Amid Global Trade Environment Changes,” outlining strategies for maintaining export competitiveness amid tightening trade regulations in major economies such as the U.S. and the EU. President Kim Dae-ja stated, “Countries around the world are continuously strengthening their technical regulations and certification systems to protect their environment, safety, and industries. We will further enhance our overseas certification support services to help Korean exporters navigate complex certification procedures more efficiently and achieve greater export success.”   date2025-11-05

190th CEO Forum for Mid-Sized Enterprises

Kim Jung-kwan, Minister of Trade, Industry and Resources, attended the 190th CEO Forum for Mid-Sized Enterprises held at the Grand Hyatt Seoul in Yongsan-gu, Seoul, on Monday, November 3, 2025. The event was attended by around 100 participants, including Choi Jin-shik, Chairman of the Federation of Middle Market Enterprises of Korea, as well as CEOs and executives from mid-sized enterprises. Minister Kim delivered a keynote speech on the theme “The New Age of Exploration.” date2025-11-05

17th Chemical Industry Day Ceremony

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources attended the 17th Chemical Industry Day ceremony held at The Plaza Hotel in Jung-gu, Seoul, on Friday, October 31, 2025. The event brought together Korea Chemical Industry Association Chairman Shin Hak-cheol, along with representatives from related companies, petrochemical industry professionals, and award recipients. After delivering congratulatory remarks, Vice Minister Moon presented a total of 42 government commendations, including the Silver Tower Order of Industrial Service Merit awarded to Kumho Petrochemical CEO Baek Jong-hoon for his contributions to the advancement of Korea’s chemical industry. date2025-11-05

5th Battery Industry Day Ceremony

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources attended the 5th Battery Industry Day ceremony held at Josun Palace Seoul in Gangnam-gu, Seoul, on Thursday, October 30, 2025.    The event was attended by People Power Party lawmaker Kim Sung-won; Kim Dong-myung, Chairman of the Korea Battery Industry Association and CEO of LG Energy Solution; and Choi Joong-kyung, Chairman of the Korea–America Association, as well as representatives from related organizations, companies, and battery industry awardees.    Following his congratulatory remarks, Vice Minister Moon presented 20 government commendations to individuals who contributed to the advancement of the battery industry, including the Silver Tower Order of Industrial Service Merit awarded to Park Zin, Executive Vice President of Samsung SDI. date2025-11-05