Ministry of Trade Industry and Resources

Invest KOREA Conference

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources attended the Invest KOREA Conference held on Thursday, October 30, 2025, at the Grand InterContinental Seoul Parnas in Gangnam-gu, Seoul.    The event brought together Invest KOREA CEO Kim Tae Hyung, along with representatives from government agencies, local governments, 300 foreign investors and media outlets, leading Korean and global companies, foreign chambers of commerce, and embassies.    Vice Minister Moon delivered congratulatory remarks at the event date2025-11-05

MOTIR and The Korea Society Explore Ways to Strengthen Korea–U.S. Cooperation

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that Trade Minister Yeo Han-koo met with Thomas Byrne, President of The Korea Society, in Seoul on Tuesday, November 4, to exchange views on ways to enhance Korea–U.S. economic cooperation. Established in 1957, The Korea Society is a U.S. nonprofit organization dedicated to promoting mutual understanding and friendly cooperation between Korea and the United States through a wide range of policy forums, seminars, and educational programs across politics, economics, culture, and education. Minister Yeo highlighted that Korea has been actively contributing to the revitalization of U.S. manufacturing and job creation through large-scale greenfield investments, while also becoming one of the key importers of U.S. energy and agricultural products such as LNG and crude oil. He underscored the close trade and investment ties between the two countries and noted that if the USD 150 billion in direct investment plans announced by Korean companies in August and the USD 350 billion strategic investment MoU agreed through the Korea–U.S. tariff negotiations on October 29 are implemented as planned, bilateral industrial supply chains will be further strengthened. Minister Yeo also conveyed Korean companies’ concerns regarding the recent detention of Korean workers at a plant in Georgia, urging President Byrne to help ensure that such incidents do not recur. He requested The Korea Society’s attention and support for fundamental solutions, emphasizing the need to improve visa systems—by ensuring smooth entry and stable investment conditions for Korean business personnel in the short term, and by considering the establishment of a new visa category for Korean professionals over the longer term.   date2025-11-04

Governments and Industry Leaders from Six Major Semiconductor-Producing Countries Gather in Busan

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that the 26th Government/Authorities Meeting on Semiconductors (GAMS) will be held in Busan from Tuesday, November 4 to Thursday, November 6, 2025. As this year’s chair country, Korea will preside over the meeting, with Choi Woo-hyuk, Director General for Advanced Industry Policy at MOTIR, serving as chair. The meeting will bring together around 100 participants, including director-general–level officials and industry leaders from member economies. Overview of GAMS Established in 1999 based on a joint statement by the four founding members—Korea, the United States, Japan, and the European Union—GAMS later added Taiwan (2000) and China (2006) as associate members. The annual meeting rotates among member economies and reviews the outcomes and policy recommendations of the World Semiconductor Council (WSC), which represents the global semiconductor industry, while discussing relevant government policy responses. GAMS sessions begin with reports from the WSC on its activities and policy proposals, followed by intergovernmental consultations that lead to the adoption of a Chair’s Statement. This year, the WSC has proposed major agenda items including semiconductor policy trends, environmental protection (PFAS regulations and greenhouse gas reduction efforts), HS code revisions for semiconductor products, and intellectual property protection. During the three-day event, the six participating economies will also hold a series of bilateral meetings to exchange views on key semiconductor issues and conduct in-depth discussions on other bilateral matters. In his keynote remarks, Director General Choi stated, “With the rapid development of artificial intelligence driving a sharp increase in global semiconductor demand, ensuring a stable semiconductor supply chain has become more critical than ever.” He added, “As a leading semiconductor-producing country, Korea will demonstrate strong leadership as this year’s GAMS chair to promote close cooperation among major economies.”   date2025-11-04

Korea to Lead Development of International Standards for Core Equipment of Eco-Friendly Fuel Ships

Korea will take the lead in developing international standards to ensure the safety and efficiency of equipment used in eco-friendly fuel ships powered by ammonia and hydrogen. The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Resources (MOTIR) announced that it will propose two new international standards at the ISO/TC 8/SC 3 Piping and Machinery Subcommittee Meeting being held in Busan from November 3 to 6. Global shipbuilders are developing vessels powered by eco-friendly fuels such as ammonia and hydrogen in response to the International Maritime Organization (IMO)’s greenhouse gas reduction goals. Building on Korea’s strengths in the shipbuilding sector, the country is leading efforts to standardize core equipment for eco-friendly fuel ships. At this meeting, KATS plans to propose international standards for “Test Procedures for Valves and Heat Exchangers for Ammonia-Fueled Ships.” Once adopted, the proposed international standards for core equipment are expected to significantly strengthen Korea’s global competitiveness in the ammonia-fueled ship sector, which remains in the early stage of commercialization. Korean marine equipment manufacturers will continue to focus on developing international standards for key components of eco-friendly fuel ships, including piping systems and storage tanks. KATS President Kim Dae-ja stated, “It is highly meaningful for Korea to lead the development of core technology standards for future vessels in line with the global push for carbon neutrality. We will continue to enhance Korea’s standardization capabilities for eco-friendly alternative fuel ship technology to help the nation’s shipbuilding and marine equipment industries strengthen their competitiveness in the global market.”   date2025-11-04

MOTIR Minister Highlights Urgency of AI Transformation to Strengthen Competitiveness of Mid-Sized Enterprises

The Ministry of Trade, Industry and Resources (MOTIR) announced that Minister Kim Jung-kwan delivered a keynote speech at the “CEO Forum for Mid-Sized Enterprises” hosted by the Federation of Middle Market Enterprises of Korea (FOMEK, Chairman Choi Jin-shik) on Monday, November 3, at the Grand Hyatt Seoul. The event was attended by around 100 CEOs from Korea’s mid-sized enterprises. In his speech, titled “The New Age of Exploration,” Minister Kim stated, “Just as the invention of the compass in the 15th century ushered in the Age of Exploration that reshaped global wealth and power, it is now time for Korean companies to seize the new compass of artificial intelligence (AI) and chart new routes in the global market.” He emphasized that mid-sized enterprises—the backbone of the Korean economy and industry—must take an active role in the shift toward industrial AI transformation. In response, the mid-sized enterprise community agreed that accelerating industrial AI adoption is essential for business survival and growth. Representatives from mid-sized enterprises also highlighted challenges in responding to rapid changes such as AI transformation, the green transition, and supply chain realignments driven by recent tariff measures. They requested stronger policy support across global expansion, technology development, finance, taxation, human resources, and regulatory reform. In response, Minister Kim affirmed that the government will work closely with relevant ministries to provide maximum support so that mid-sized enterprises can grow into larger, globally competitive companies.   date2025-11-04

Korea’s Exports Hit New Peak for October

The Ministry of Trade, Industry and Resources (MOTIR) announced on November 1 that Korea’s exports in October 2025 rose 3.6 percent year-on-year to USD 59.6 billion, the highest on record for October, while imports fell 1.5 percent to $53.5 billion. The trade surplus stood at $6.1 billion, bringing the cumulative surplus for January–October to $56.4 billion and surpassing the total for 2024. Despite fewer working days during the Chuseok holiday, exports grew for the fifth consecutive month, and average daily exports climbed 14 percent to $3.0 billion, reaching an all-time high. Semiconductor exports increased 25.4 percent to $15.7 billion, driven by strong demand for high-value memory such as HBM and DDR5. Ship exports, including offshore plants, soared 131.2 percent to $4.7 billion, while petroleum product exports rose 12.7 percent to $3.8 billion. By region, exports to Latin America nearly doubled (up 99 percent) to $4.7 billion—a record level led by large offshore plant deliveries—and exports to the CIS climbed 34.4 percent to $1.3 billion, marking eight straight months of growth. Exports to the United States declined 16.2 percent to $8.7 billion due to tariff-related challenges, while exports to China and ASEAN also fell slightly. Exports to Taiwan jumped 46 percent to a record $5.2 billion on strong semiconductor demand. MOTIR Minister Kim Jung-kwan stated, “Semiconductors and ships drove export growth for the fifth consecutive month. With the recent Korea-U.S. agreement on detailed tariff negotiations, Korea’s key export items—including automobiles, semiconductors, and pharmaceuticals—will no longer face disadvantages in the U.S. market. The government will ensure that this agreement and related financial measures create new growth opportunities for Korean industries.”   date2025-11-03

Korea Honors Contributors and Organizations on the 55th National Metrology Day

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Resources (MOTIR) held a ceremony on Friday, October 31, to mark the 55th National Metrology Day and presented 35 awards to individuals and organizations that have contributed to strengthening Korea’s national competitiveness in metrology. At the ceremony, Nam Gi-dong, CEO of DYC&T, received the Bronze Tower Order of Industrial Service Merit in recognition of his contribution to industrial advancement through the development of Korea’s first 30 MN-class high-capacity force measuring instrument. Dr. Kwon Jae-Yong of the Korea Research Institute of Standards and Science (KRISS) received a Presidential Commendation for his achievement in developing a world-class primary standard for electromagnetic power. In addition, the first Legal Metrology Idea Contest was held this year, with six outstanding entries selected from 92 submissions, helping to raise public interest and participation in the metrology sector. A pre-event seminar themed “AI and the Future of Industrial Metrology” featured the Vice Chair of China’s Digital Metrology Technology Committee as a guest speaker, who shared policy trends in AI and industrial metrology. Korean experts from industry, academia, and research institutions also gathered to discuss the importance of metrology in the AI era and strategies for its future development. In his congratulatory remarks, KATS President Kim Dae-ja stated, “In advanced industries, ensuring accuracy through metrology is directly linked to national industrial competitiveness. KATS will continue to strengthen the foundation of advanced industries such as AI and semiconductors by improving metrology infrastructure and systems, while identifying and supporting contributors and organizations that advance measurement technology in the industrial field.”   date2025-10-31

Turning Crisis into Innovation: Korea’s Chemical Industry Commits to Structural Reform Through Public-Private Collaboration

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) held the 17th Chemical Industry Day ceremony on Friday, October 31, at The Plaza Hotel in Jung-gu, Seoul, with Vice Minister Moon Shin-hak, Korea Chemical Industry Association Chairman Shin Hak-cheol, and around 250 participants from the petrochemical sector in attendance. At the ceremony, Baek Jong-hoon, CEO of Kumho Petrochemical, received the Silver Tower Order of Industrial Service Merit among 42 individuals honored for their contributions to the advancement of Korea’s chemical industry. The event held particular significance, as it took place amid ongoing discussions on restructuring within the petrochemical business to address structural challenges caused by global oversupply. It served as an opportunity for both the industry and the government to reaffirm their shared commitment to overcoming the current crisis and achieving a new stage of growth. As a side event, MOTIR hosted a roundtable on the Petrochemical Industry High-Value-Added R&D Roadmap. The session brought together R&D representatives from companies participating in restructuring and experts to discuss the roadmap and strategies to enhance future competitiveness of Korea’s chemical industry. MOTIR plans to announce the final version of the R&D roadmap in November and, based on it, design a large-scale preliminary feasibility study to support the high-value-added transformation of companies undergoing business restructuring. In particular, the ministry will prioritize the R&D needs of companies actively pursuing restructuring to ensure that facility optimization naturally leads to higher value-added production. In his congratulatory remarks, Vice Minister Moon Shin-hak stated, “Korea’s petrochemical industry must simultaneously address two challenges: responding to global oversupply and achieving higher value-added production. Now is the time for bold and swift structural reform.” He added, “For companies taking proactive steps toward restructuring, the government will provide tailored support packages to ensure smooth transitions, and based on the R&D roadmap, we will promote high-value-added and eco-friendly transformation to secure fundamental competitiveness of the petrochemical industry.”   date2025-10-31

Korea to Strengthen Supply Chain Stability for Rare Earth Elements and Critical Minerals

Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol presided over the 6th Supply Chain Stabilization Committee Meeting at the Government Complex Seoul on Friday, October 31. The meeting reviewed recent developments in economic security and discussed (1) measures to stabilize the rare earth supply chain, (2) first-year achievements and improvement measures of the Supply Chain Stabilization Fund, and (3) strategies to promote recycling of critical minerals. Amid growing supply uncertainties surrounding rare earth elements due to China’s strengthened export controls, the government has launched an inter-ministerial task force on rare earth supply chains (established on October 16) to prevent adverse impacts on Korean companies and operates a Rare Earth Supply Response Center to help them secure stable supplies. To strengthen crisis response capabilities in case of supply disruptions, the government will expand investment and financing for overseas resource development, promote technologies that reduce reliance on rare earth materials and the recycling of rare earth permanent magnets, and increase public stockpiling. Furthermore, the government will actively support critical mineral recycling. Aiming to achieve a 20 percent recycling rate for ten strategic critical minerals by 2030, the government has been operating a joint task force to build the industrial ecosystem and streamline related regulations. The new measures will shift the perception of recycled raw materials from “waste” to “resources” through institutional reforms. Expanding the designation of recyclable resources, easing import-guarantee requirements, and providing tariff relief are expected to deliver tangible reductions in costs and administrative burdens for companies importing recycled raw materials. The government will also promote investment and financing through the Supply Chain Stabilization Fund to foster the recycling industry and nurture leading companies, and strengthen fiscal support for facilities, equipment, R&D, and demonstration projects. Regular inter-ministerial meetings on critical mineral recycling will continue to explore policy and support improvements. Marking the first anniversary of the Supply Chain Stabilization Fund, the government is reviewing its performance and exploring ways to enhance its effectiveness. To increase the fund’s proactivity and efficiency, a KRW 250 billion Critical Minerals and Energy Supply Chain Stabilization Fund will be established to boost direct and indirect investments and introduce special loan programs for small and mid-sized enterprises (SMEs). The government will also establish a differentiated support system based on supply chain criticality and contribution to stabilization, while strengthening coordination with other policy finance institutions such as the Korea Development Bank.   date2025-10-31

Korea Sets World’s First Standard for Photovoltaic-Thermal Hybrid Modules

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Resources (MOTIR) announced on Friday, October 31, that it has established and officially announced the world’s first Korean Industrial Standard (KS) for photovoltaic-thermal (PVT) hybrid modules, which generate both electricity and heat from solar energy. While separate standards already exist for photovoltaic modules that generate electricity and for solar thermal collectors that produce heat, there has been no standard for PVT hybrid modules combining both technologies. This lack of standardization has posed challenges for Korean manufacturers seeking to enter new markets. To address this issue, KATS introduced the Certification of Conformity of New Products of Industrial Convergence system in 2023 and has now established the world’s first KS standard to promote the adoption of PVT hybrid modules. Because PVT hybrid modules are well-suited for buildings requiring both electricity and heat, the newly established KS standard is expected to support the government’s policy goal of achieving an energy transition centered on renewable energy and advancing toward zero-energy building certification for energy self-sufficiency. President Kim Dae-ja stated, “The world’s first standardization of PVT hybrid modules demonstrates the government’s commitment to supporting the market adoption of new convergence technologies developed by Korean companies. Moving forward, we will also pursue international standardization to help Korean companies expand into global markets.”   date2025-10-31