Ministry of Trade Industry and Resources

Korea Trade Commission Holds 461st Meeting

The Korea Trade Commission (KTC) under the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) held the 461st KTC meeting at the Government Complex Sejong on June 26, 2025, for deliberation and resolution on anti-dumping investigations. Regarding the investigations initiated in September 2024 on Chinese stainless steel plates, the KTC ruled that dumped imports of these products have caused material injury to the domestic industry and proposed a five-year anti-dumping duty of 21.62% to Korea’s Ministry of Economy and Finance. The said products are currently subject to a provisional anti-dumping duty of 21.62% since March 2025. The KTC also held a public hearing in two anti-dumping cases involving Chinese sodium dithionite and Thai particle boards,  both of which were launched in December 2024. Public hearings are held before a final determination to grant interested parties sufficient opportunity to make statements and ensure their rights of defense. Chinese sodium dithionite is currently subject to provisional anti-dumping duties ranging from 15.15% to 33.97% from June 21 to October 20, 2025. For Thai particle boards, the Ministry of Economy and Finance is reviewing whether to impose provisional duties of 11.82% to 17.19%, as recommended by the KTC. Both cases await final determinations in the second half of 2025 following due diligence procedures in Korea and overseas.   date2025-06-26

Korea’s retail industry grows 7.0% in May

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s retail industry grew 7.0 percent year-on-year overall during the month of May 2025, with offline and online sales gaining 0.9 percent and 13.0 percent, respectively. MOTIE's monthly retail sales figures are based on surveys of 23 major retailers. Thirteen of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSMs) operators. The remaining 10 are online retailers. By offline retail channel, sales at hypermarkets (up 0.2 percent) and department stores (up 2.3 percent) posted growth for the first time since the Seollal holiday season in January, led by high-priced items and increased revenue per visit. Convenience stores inched down 0.2 percent, whereas SSM operators (up 1.0 percent) maintained their upward trajectory for the third consecutive month, driven by the steady rise of visitors. By category, offline sales expanded in areas like food products (up 1.0 percent) and luxury goods (up 8.1 percent) such as jewelry and watches. In contrast, home appliances/culture (down 7.8 percent), kids/sports (down 2.5 percent), and fashion/miscellaneous (down 3.7 percent) experienced further slowdowns. As for online sales, services (up 37.3 percent) and food products (up 18.2 percent) retained solid growth on the backs of demand for food deliveries, e-coupons, travel packages, and cultural goods. However, fashion/clothing (down 4.6 percent) and sports (down 12.7 percent) continued their contraction.   date2025-06-25

Trade Minister meets Canada’s Ambassador to the U.S.

Korea’s Minister for Trade Yeo Han-koo met Canada’s Ambassador to the U.S. Kirsten Hillman on June 24 (local time) in Washington D.C. to discuss trade issues. date2025-06-25

Trade Minister Yeo visits The Asia Group

Korea’s Minister for Trade Yeo Han-koo visited The Asia Group (TAG) in Washington D.C. on June 24 (local time) to discuss Korea-U.S. trade issues with TAG CEO Nirav Patel. date2025-06-25

Trade Minister meets U.S. Commerce Secretary & Trade Rep

Korea’s Minister for Trade Yeo Han-koo met with U.S. Secretary of Commerce Howard Lutnick and U.S. Trade Representative Jamieson Greer on June 23 (local time) during his first visit to Washington D.C. since taking office to discuss bilateral trade issues and mutually beneficial cooperation measures. date2025-06-24

Trade Minister Yeo Visits Washington D.C. for High-Level Trade Talks

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) will visit Washington D.C. on June 22, 2025—his first trip since taking office—to engage in ministerial-level Korea-U.S. consultations with U.S. Trade Representative Jamieson Greer and Secretary of Commerce Howard Lutnick. During the meeting, Trade Minister yeo will present Korea’s position on the U.S. tariff measures and discuss mutually beneficial solutions. Trade Minister Yeo will also meet members of the U.S. Congress to seek support for a stable and predictable environment for Korean businesses investing in the U.S., particularly as lawmakers are considering the “One Big Beautiful Bill Act,” which contains proposed amendments to tax credits under the Inflation Reduction Act of 2022 (IRA). Trade Minister Yeo stated that he step up efforts to find a mutually beneficial solution on tariff measures through in-depth consultations with the U.S. side. In view of Korea and the United States’ close economic and industrial ties, he will use this visit to secure more support for Korean companies operating in the U.S. market. Meanwhile, Korea’s Deputy Minister for International Trade and Investment Park Jung-sung will accompany Trade Minister Yeo to Washington D.C. to lead the third round of Korea–U.S. technical discussions with USTR from June 24 to 26, 2025. Following the launch of Korea’s U.S. trade negotiations Task Force, Deputy Minister Park now serves as the senior official overseeing the working-level dialogues with the United States. In this round, the TF and relevant ministries will aim to reach mutually acceptable solutions on issues of interest to both sides. date2025-06-23

Trade Minister meets AMCHAM Korea Chairman and CEO

Minister for Trade Yeo Han-koo met AMCHAM Korea Chairman and CEO James Kim on June 19 in Seoul to discuss Korea-U.S. trade issues. date2025-06-23

Trade Minister meets U.S. Embassy Chargé d'Affaires ad interim

Korea’s Minister for Trade Yeo Han-koo met with Ambassador Joseph Yun, Chargé d'Affaires ad interim at the United States Mission in Korea, on June 18 in Seoul to discuss Korea-U.S. trade issues. date2025-06-19

Korea Set to Localize 30% of CNC Systems by 2032

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) announced on June 18, 2025, that KCNC succeeded in developing a Korean-made computerized numerical control (CNC) systems, a core technology used in the majority of Korea’s machinery and equipment processing.  CNC utilizes computerized systems to precisely control machining processes such as cutting, milling, and pressing, and is mainly installed in manufacturing equipment for producing machinery. While CNC is a key component of the machinery industry, developing the system is technically demanding, and companies in Germany, Japan, and the U.S. account for more than 80 percent of the global CNC market. With KCNC’s successful development of a CNC system, the industry is anticipating the Korean-made CNC systems to capture at least 30 percent of the domestic market by 2032. The plans to develop CNC began emerging in earnest in  2019, when materials, parts, and equipment (MPE) supply chains started gaining recognition for their importance. The plans were also triggered by concerns that any disruption in CNC supply— the entirety of which Korea was dependent on imports—may halt production lines nationwide across the manufacturing sector. CNC development calls for simultaneous advances in various hardware and software technologies, including the controller’s main body, motor, and interface, making it difficult for any single company to take on the project alone. Accordingly, MOTIE launched a consortium led by the Korea Institute of Machinery & Materials, bringing together more than 20 companies, research institutes, and academic experts. Participants later established KCNC in the form of a joint venture for technological development and commercialization. After five years of development, field operators and experts conducted an objective evaluation in May 2025, in which they found that the developed CNC system has reached performance levels comparable to that of other advanced countries in key performance indices, such as machining error and surface quality. However, improvements are still needed in areas such as interface user friendliness and range of functions offered. Korea currently relies on imports for 95 percent of its CNC supply, and even the remaining five percent of domestic products require foreign technology for core components. The newly developed CNC system is expected to substantially stabilize supply chains for Korean manufacturers and generate significant economic benefits. Replacing 30 percent of domestic and overseas CNC demand with Korean-made products is expected to create an annual economic value of around KRW 200 billion, equivalent to approximately USD 146 million. Swift after-sales service and customized product development are some added merits of the localization. Starting July, KCNC will enter a one-year demonstration phase for commercialization. The tests will cover high-speed and repetitive procedures, machining with various materials and tools, equipment durability, and reliability in real-world production. Four major buyer companies, which account for over 90 percent of CNC systems demand, are to participate in the demonstration process. These companies have already submitted letters of intent indicating that they will sign purchase agreements if demonstration results meet the specifications. Once the demonstration phase is completed successfully, the Korean-made CNC systems will be up for purchase beginning in 2026, with relevant industries forecasting that the systems will secure over 30 percent in domestic market share by 2032. date2025-06-18

Eco-friendly auto sales surpass conventional cars in May

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s domestic automobile sales for the month of May 2025 increased 0.4 percent year-on-year to 141,865 units.  Eco-friendly vehicles took up 52 percent of total domestic automobile sales, surpassing the sales of internal combustion engine cars for the first time. The number of Korean electric vehicles (EVs) sold in the domestic market also soared 58.8 percent, thanks to the wider array of consumer choices with the recent rollout of new models across different car segments. Monthly automobile exports reached $6.2 billion, entering the $6 billion thresholds for the fourth consecutive month and recording second highest in exports for May. Eco-friendly vehicle exports hit an all-time high of 75,184 units (up 10.2 percent), driven by solid demand for hybrid electric vehicles (HEVs). Meanwhile, domestic automobile production declined 3.7 percent to 358,969 units.   date2025-06-17