Ministry of Trade Industry and Resources

Minister meets Philippine's Special Assistant to the President for Investment and Economic Affairs

Minister of Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held high-level talks with the Philippine government delegation led by Special Assistant to the President for Investment and Economic Affairs Frederick Go today in Seoul and discussed measures for stronger economic cooperation in areas such as trade, investment, supply chains, and carbon-free energy. date2025-04-07

Korea and Philippines Step Up Trade, Investment, and Supply Chain Cooperation

Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy (MOTIE) held high-level talks with a Philippine government delegation led by Frederick Go, Special Assistant to the President for Investment and Economic Affairs, in Seoul on April 7, 2025. The two sides discussed measures to strengthen economic cooperation in areas such as trade, investment, supply chains, and carbon-free energy. Noting the Philippines’ abundant natural resources and young population, Minister Ahn welcomed the Philippine government’s efforts to improve the investment environment, including a cut in the corporate income tax rate for investment companies from 25 percent to 20 percent. Special Assistant Frederick Go stated that Korea is the Philippines’ major trade and investment partner and expressed hope that the Korea–Philippines Business Forum would deliver  meaningful outcomes, with Korea serving as the first stop on the Philippines’ investment roadshows. Both sides agreed on the need to expand cooperation in areas such as critical minerals and clean energy amid the rapidly changing global trade environment. Accordingly, they agreed to take active steps to implement the memorandum of understanding (MOU) on a feasibility study for resuming construction of the Baatan nuclear power plant and the MOU on bilateral cooperation in critical raw materials supply chain. Following the talks, Minister Ahn attended the Korea-Philippines Business Forum, hosted by the Philippine government and organized by the Philippine Embassy in Korea. In his congratulatory remarks, the minister noted that the two countries have established the groundwork for wider economic cooperation by elevating bilateral ties to a strategic partnership at the last Korea-Philippines summit. He added that going forward, the Korean government will continue to work closely with the Philippine government, including through economic cooperation platforms, to promote smooth business collaboration between companies in the two countries. date2025-04-07

Korea-India Insight Forum for shared growth co-hosted by MOTIE and Indian Embassy to Korea

The Ministry of Trade, Industry and Energy and the Indian Embassy to Korea co-hosted the Korea-India Insight Forum at the Residence of the Indian Ambassador to Korea on Friday, April 4, to have in-depth discussions on strategic cooperation between the two countries across the economic and trade sectors.  This Forum was joined by the two governments and private experts, and prepared to devise cooperation directions between the two countries amid the deepening structural shift of international trade orders, such as global supply chains restructuring, technology competition, exports of over-capacities and tariff escalations. Participants agreed on the significance of relations between Korea and India as Special Strategic Partners, and emphasized the need for practical cooperation centered around new industries including development cooperation, digital transformations, advanced manufacturing, infrastructure, clean energy, human resource mobility as well as mutual trade and investment.  Director General of the Bureau of International Trade Relations Jongchul Kim  mentioned that although the outcomes of cooperation between the two countries have been limited compared to the potential, this year will be an opportunity to reshape the existing cooperative framework and pursue substantial cooperation. Concurring with DG Kim, India’s Ambassador to Korea Amit Kumar suggested intensifying bilateral engagement to seize emerging opportunities and establishing sustainable partnerships across multiple sectors based on respective economic structures, growth potential and mutual strategic benefits. In commemoration of the 10th anniversary of Special Strategic Partnership, the Korean and Indian governments will enhance policy communication and cooperation across a wide range of sectors going forward.   date2025-04-04

FDI arrivals to Korea climb 26.4% in Q1 2025

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that foreign direct investments (FDIs) pledged to Korea in the first quarter of 2025 (Jan-Mar, acc.) decreased 9.2 percent year-on-year to USD 6.4 billion, while FDIs that actually arrived in Korea over the same period soared 26.4 percent to $3.5 billion. By type, greenfield investments jumped 20.7 percent to $4.7 billion, recording all-time highs for Q1 despite internal and external uncertainties, raising anticipation for job creation and local economic development. M&A investment pledges shrank 45.4 percent to $1.7 billion, but arrivals surged 31.9 percent to $1.9 billion. By industry, the manufacturing sector saw FDI pledges fall 24.5 percent to $2.3 billion. Pledges for the service sector dropped 7.4 percent to $3.6 billion, whereas arrivals leaped 68.7 percent to $2.8 billion.  By region, FDI pledges coming in from the U.S. rose 15.0 percent to $0.8 billion. Pledges and arrivals from the EU both skyrocketed 163.6 percent and 123.5 percent, respectively, to $1.5 billion and $1.1 billion. Pledges from Japan climbed 8.6 percent to $1.2 billion. Meanwhile, those from China contracted 75.0 percent to $0.3 billion.   date2025-04-03

Korea Deepens Advanced Technology Cooperation with Germany and Switzerland

Je Kyung-hee, Director General for Industrial Technology Convergence Policy at the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun), visited Hannover, Germany, on April 1–2, 2025, for the Eureka Global Innovation Summit 2025, where she held bilateral talks with partner countries to expand technology cooperation with leading research institutions. Eureka is the world’s largest joint R&D platform, bringing together 48 countries. Korea became the first non-European and only Asian full member in 2022, and joined its Board of Directors in 2023. At the Summit, Director General Je met with Armin Reinartz, Head of Directorate-General for European and International Cooperation from the Federal Ministry of Education and Research (BMBF) of Germany, a Eureka chair country. They discussed measures to strengthen Korea-Eureka cooperation and widen Korea-Germany cooperation in areas of advanced sectors such as robots and semiconductors. Director General Je also met with Marc Pauchard, Head of the Knowledge Transfer and International Programmes Division of the Swiss Innovation Agency, Innosuisse, and expressed Korea’s support for Switzerland’s successful Eureka chairmanship from July 2025 to June 2026. On April 3–4, Director General Je will be visiting the Fraunhofer Society for the Advancement of Applied Research and the German Aerospace Center (DLR) to potential new projects in industrial AI, quantum computing, robots, and other advanced technology fields, while seeking ways to leverage the Global Industry and Technology Cooperation Center at the Fraunhofer Institute to invigorate global open innovation by Korean companies, universities, and research institutions. Meanwhile, MOTIE held the Korea Eureka Day 2025 in Hannover on April 1–2. Since joining Eureka in 2009 as an associate member, Korea has provided a total of KRW 250 billion in funding for more than 250 projects in advanced bio, AI, and semiconductors. Eureka has also served as the primary platform for technology collaboration between Korean industries and the EU. This year’s Korea Eureka Day featured a range of programs for Korean business participants, including the Korea-Europe Innovation Forum, technical partner matchmaking, and one-on-one consulting sessions with Europe-based Korean engineers. date2025-04-02

Korea’s exports gain 3.1% in March

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that Korea’s exports and imports for March 2025 rose 3.1 percent and 2.3 percent year-on-year, respectively, to USD 58.3 billion and $53.3 billion. The trade balance netted a surplus of approximately $5.0 billion. Exports reached a second highest for the month, increasing for two months straight. The number of working days considered, the daily average export value also grew 5.5 percent to $2.7 billion. Seven out of 15 major items advanced in the month, thanks to positive growth seen across all information technology (IT) goods. Semiconductor exports (up 11.9 percent to $13.1 billion) turned to an expansion, boosted by strong demand for high value-added memory chips like HBMs and DDR5s. Computers including solid-state devices (up 33.1 percent to $1.2 billion) and wireless communication devices (up 13.8 percent to $1.3 billion) each rose for the 15th and second consecutive month. Displays gained 2.9 percent to $1.5 billion, ending the seven-month losing streak. Despite the slowdown of some electric vehicle (EV) models, automobile exports progressed 1.2 percent to $6.2 billion on the backs of demand for hybrid electric vehicles (HEVs) and gas-powered vehicles. Ship exports recorded $3.2 billion (up 51.6 percent), a new high since December 2023 ($3.7 billion), snapping the downward streak. Bio-health exports (up 6.9 percent to $1.4 billion) increased for the second consecutive month, led by pharmaceuticals (up 13.2 percent to $0.9 billion). By region, Korea’s exports expanded to six out of nine major destinations. Exports to China (down 4.1 percent to $10.1 billion) faltered from the decline of semiconductor exports, in spite of the robust performance of petrochemicals and wireless communication devices.  U.S.-bound exports climbed 2.3 percent to $11.1 billion and those to ASEAN also surpassed China-bound exports with $10.3 billion (up 9.1 percent) for the second consecutive month. To the EU, ship exports doubled and bio-health items (up 9.8 percent to $6.3 billion) showed solid growth. Exports to the Middle East (up 13.6 percent to $1.8 billion) maintained growth for two months running and those to Japan (up 2.2 percent to $2.2 billion) and the CIS (up 30.1 percent to $1.1 billion) resumed their upward trajectory.   date2025-04-01

Minister Ahn meets Japan’s Minister of Economy, Trade and Industry

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held a bilateral meeting with Japan’s Minister of Economy, Trade and Industry Muto Yoji on March 30 in Seoul on the margins of the 13th Korea-Japan-China Economic and Trade Ministers’ Meeting to discuss joint response measures in view of the changing global trade landscape. date2025-03-31

Minister Ahn meets China’s Minister of Commerce

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met China’s Minister of Commerce Wang Wentao on March 29 in Seoul on the occasion of the 13th Korea-Japan-China Economic and Trade Ministers’ Meeting to discuss measures for bilateral cooperation and trade issues. date2025-03-31

Korea and Japan Hold Trade and Industry Ministers’ Meeting

Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy (MOTIE) held a bilateral meeting with Japan’s Minister of Economy, Trade and Industry (METI) Muto Yoji on March 30, 2025, in Seoul on the margins of the 13th Korea-Japan-China Economic and Trade Ministers’ Meeting, as 2025 marks the 60th anniversary of the normalization of diplomatic relations between Korea and Japan. The meeting came nine months after the Korea-U.S.-Japan trilateral meeting in June 2024 in Washington D.C., and followed the Korea-Japan trade and industry ministers’ meeting held in April 2024 in Tokyo, marking the first reciprocal ministerial visit in about a year. During the meeting, MOTIE and METI welcomed the two countries’ active intergovernmental and private-sector dialogue in key areas, including supply chains, advanced industries, and new energy areas like hydrogen, and critical mineral supply chains. They also agreed to further cooperate to produce tangible outcomes in 2025, the 60th anniversary of the normalization of diplomatic relations. The two sides shared views on the rapidly changing global trade landscape and discussed response measures. They agreed to leverage both bilateral and multilateral channels, including the Korea-U.S.-Japan and the Korea-Japan-China frameworks, to share information and explore cooperation on issues requiring a joint response.  Both sides also agreed to work together for the successful hosting of major international events in both countries, including the Korea Pavilion opening ceremony on April 13 and Korea Day on May 13 at Expo 2025 Osaka, Kansai; the APEC Trade Ministerial Meeting in Jeju in May; the APEC Energy Ministerial Meeting in Busan in August; and the APEC CEO Summit. date2025-03-31

Korea and China Hold Commerce Ministers’ Meeting on Trade and Economic Cooperation

Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy (MOTIE) met with China’s Minister of Commerce (MOFCOM) Wang Wentao on March 29, 2025, in Seoul, ahead of the 13th Korea-Japan-China Economic and Trade Ministers’ Meeting in March 30, 2025. The bilateral meeting was held to discuss bilateral cooperation and key trade issues in response to the changing global trade landscape, and was the first bilateral meeting between the two commerce ministers since their last meeting in San Francisco in November 2023.  The two sides exchanged views on the global trade environment and agreed to continue their mutually beneficial cooperation through not only bilateral trade platforms, but also multilateral trade systems such as the World Trade Organization (WTO) and the Asia-Pacific Economic Cooperation (APEC). As APEC hosts in 2025 and 2026 respectively, Korea and China  also agreed to cooperate for the successful hosting of the APEC Economic Leaders’ Week. Moreover, MOTIE and MOFCOM plan to expand the scope of collaboration to stabilize critical minerals supply chains and maintain communication and cooperation to resolve issues for businesses operating in each other’s markets.  The two sides will also continue to share information on supply chain measures and policies through director general-level channels, including the supply chain hotline and export control dialogue, while strengthening cooperation between MOTIE and major local governments in China, including Jiangsu, Guangdong, Shandong, and Liaoning. date2025-03-31