Ministry of Trade Industry and Resources

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

Korea-Japan-China joint press briefing

The Ministry of Trade, Industry and Energy (MOTIE) of Korea, the Ministry of Economy, Trade, and Industry (METI) of Japan, and the Ministry of Commerce (MOFCOM) of China held a joint press briefing on the sidelines of the 13th Korea-Japan-China Economic and Trade Ministers’ Meeting on March 30 in Seoul. date2025-03-31

13th Korea-Japan-China Economic and Trade Ministers’ Meeting

Minister for Trade, Industry and Energy Dukgeun Ahn attended the 13th Economic and Trade Ministers’ Meeting between the Republic of Korea, Japan and the People’s Republic of China on March 30 in Seoul with the participation of Japan’s Minister of Economy, Trade and Industry Muto Yoji and China’s Commerce Minister Wang Wentao, where they discussed follow-up measures to the ninth trilateral summit held in May 2024 and reaffirmed the need for cooperation among the three countries for the regional and global economic prosperity and stability. date2025-03-31

Joint Media Statement of the Thirteenth Economic and Trade Ministers’ Meeting between the Republic of Korea, Japan and the People’s Republic of China

Joint Media Statement of the Thirteenth Economic and Trade Ministers’ Meeting between the Republic of Korea, Japan and the People’s Republic of China 30 March 2025, Seoul, Korea   1.      We, the Economic and Trade Ministers of the Republic of Korea, Japan and the People’s Republic of China, convened in Seoul, Korea, on 30 March 2025, to hold the Thirteenth Korea-Japan-China Economic and Trade Ministers’ Meeting.   2.      We reaffirmed our conviction that trilateral efforts in the economic and trade sectors are essential for fostering the prosperity and stability of the regional and global economy, as emphasized in the Joint Declaration of the Ninth Trilateral Summit in May 2024.    3.      We noted with satisfaction the advancements made in trilateral cooperation between our three countries and held fruitful discussions on the future trajectory of our cooperation. We especially recognized the need for ongoing trilateral economic and trade cooperation to effectively address emerging challenges and achieve tangible outcomes in key areas.    4.      We shared the view that the Thirteenth Trilateral Economic and Trade Ministers’ Meeting plays a vital role in strengthening our trilateral cooperation. The Minister of Economy, Trade and Industry of Japan and the Minister of Commerce of the People’s Republic of China expressed their appreciation for the efforts of the Minister of Trade, Industry and Energy of the Republic of Korea as Chair to ensure the continual progress of trilateral economic and trade cooperation.   5.        (WTO Reform) We support the rules-based, open, inclusive, transparent, non-discriminatory multilateral trading system with the World Trade Organization (WTO) at its core. We emphasized the need to advance the necessary reform of the WTO and strengthen all its functions, including negotiation, monitoring, deliberation and dispute settlement so that the organization can become more responsive and resilient in addressing current trade challenges, particularly in the lead up to the 14th WTO Ministerial Conference (MC14). We also reiterated our support for the extension of the moratorium on customs duties on electronic transmissions at MC14. We commended the efforts to intensify discussions in the WTO on contemporary key issues.   6.        (WTO JSIs) Acknowledging the value of ongoing plurilateral discussions under the WTO, including the Joint Statement Initiatives (JSIs), we highlighted their potential to address emerging trade issues, foster inclusive economic growth, and build momentum towards multilateral outcomes. We urged WTO Members to support the early incorporation of the Investment Facilitation for Development (IFD) Agreement and the Agreement on Electronic Commerce into the WTO legal framework and encouraged wider participation in the Agreements.   7.      (RCEP) We highlight the importance of the transparent, smooth and effective implementation of the Regional Comprehensive Economic Partnership (RCEP) Agreement. We encourage the RCEP Joint Committee to finalise the Terms of Reference of the Accession Working Group (AWG) for new membership to the RCEP as soon as possible.   8.        (Trilateral FTA) We keep discussions for speeding up negotiations for a Trilateral FTA with a view to realizing a free, fair, comprehensive, high-quality and mutually beneficial FTA with its own value.   9.       (Predictable and Reliable Business Environment) We will continue to work to ensure a global level playing field to foster a free, open, fair, non-discriminatory, transparent, inclusive and predictable trade an date2025-03-31