Ministry of Trade Industry and Resources

Korea’s Battery Industry Aims for Recovery and Renewed Growth

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR) attended the 5th Battery Industry Day ceremony held on Thursday, October 30, at Josun Palace Seoul. Established to recognize the achievements of the battery industry and to foster unity among its members, the event celebrated its fifth anniversary this year. More than 250 participants attended—including Vice Minister Moon; 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 other industry leaders and awardees. During the ceremony, 20 individuals were honored with government commendations, including the Silver Tower Order of Industrial Service Merit and the Industrial Service Medal, in recognition of their contributions to the development of the battery industry. This year’s Silver Tower Order of Industrial Service Merit was awarded to Park Zin, Executive Vice President of Samsung SDI, for his leadership in advancing long-life and high-power battery technologies for electric vehicles and improving safety standards for energy storage system (ESS) batteries. In his congratulatory remarks, Vice Minister Moon noted that Korea’s rechargeable battery industry is facing challenges such as slowing EV demand and risks in the critical minerals supply chain. He emphasized the need to develop breakthrough technologies, diversify supply chains, and create new markets to achieve renewed growth. He affirmed, “The government will provide full support to ensure Korea’s rechargeable battery industry emerges stronger and achieves new growth after overcoming this difficult period.”   date2025-10-31

Record-Breaking Invest KOREA Summit Opens in Seoul

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that it is hosting the Invest KOREA Summit (IKS), Korea’s largest foreign investment promotion event, from October 30 to 31 at the Grand InterContinental Seoul Parnas. This year’s summit, held in conjunction with the APEC CEO Summit in Gyeongju, marks the largest IKS to date. The event features an investment declaration and R&D center designation ceremony, the Invest KOREA Conference, advanced industry seminars, startup pitching sessions, and a financial investor forum. More than 2,000 participants—including foreign investors, representatives from 300 international media outlets, leading Korean and global companies, foreign chambers of commerce, embassies, and government and local officials—are expected to attend. In his congratulatory remarks at the opening session of the Invest KOREA Conference, Vice Minister Moon Shin-hak emphasized that “Korea is one of the most attractive destinations for global investors, and foreign investment has been a key driver of Korea’s industrial competitiveness.” He added, “Despite global economic uncertainty, Korea will continue to strengthen advanced industry competitiveness, diversify export markets, and enhance foreign investment support systems to ensure the country remains a global business hub.” Under the theme “AI Innovation Partner, KOREA,” this year’s IKS focuses on promoting global investment in Korea’s AI ecosystem, aligning with the government’s goal of positioning the nation among the world’s top three AI powerhouses. At the conference, Kim Yu-won, CEO of NAVER Cloud, and Baek Joon-ho, CEO of FuriosaAI, delivered keynote speeches on Sovereign AI technology development and next-generation AI innovation. Experts at the event also discussed how AI is reshaping industrial structures and investment trends, highlighting strategies to attract global investment—such as improving Korea’s investment environment and leveraging supply chains—to strengthen leadership in the AI ecosystem. During the summit, seven global companies in sectors such as semiconductors, future mobility, offshore wind power, advanced materials, and K-culture-related content and food participated in an investment declaration ceremony totaling USD 550 million. Combined with the USD 9 billion in investment plans announced the previous day in Gyeongju under the “Global Corporate Investment Partnership,” this marks the largest-ever foreign investment commitments secured through the IKS. Key Highlights and Participating Companies in the Investment Declaration Ceremony on October 30 (Offshore Wind) 1. Ocean Winds (Spain): A leading global developer and operator of offshore wind power, planning to establish a floating offshore wind farm in Ulsan and expand cooperation across Korea’s offshore wind supply chain. (Semiconductors) 2. Tokyo Electron (Japan): A global leader in semiconductor and display manufacturing equipment, expected to help strengthen Korea’s semiconductor equipment supply chain. (Future Mobility) 3. Valeo (France): A leading company specializing in advanced autonomous driving sensors and perception systems, expanding its production facilities and research centers in Korea for autonomous systems while continuing investment in air-conditioning systems, battery modules, and other related areas. (Advanced Materials) 4. BASF (Germany): The world’s largest chemical company, expanding specialty chemical production facilities in Yeosu, Jeollanam-do. (Advanced Materials) 5. Mitsui Chemicals (Japan): One of Japan’s three major chemical companies, enhancing technological cooperation with Korean partners to establish next-generation supply chains. (Content) 6. HAPPYTUK (Taiwan): A PC and mobile game publisher and operator, establishing a new AI R&D cent date2025-10-30

Korea’s Retail Industry Grows 7.7% in September

The Ministry of Trade, Industry and Resources (MOTIR) announced on October 29 that Korea’s retail industry grew 7.7 percent year-on-year in September 2025, with offline sales down 1.0 percent and online sales up 16.5 percent. MOTIR’s monthly retail sales figures are based on surveys of 23 major retailers, comprising 13 brick-and-mortar retailers and 10 online retailers. By offline retail channel, department stores rose 4.8 percent and convenience stores gained 0.9 percent, both recording their third consecutive month of growth, while large supermarkets fell 11.7 percent and super supermarkets (SSM) slipped 0.2 percent. The People’s Livelihood Recovery Consumption Coupons boosted convenience store sales, particularly in instant foods and tobacco, while department stores benefited from strong holiday demand for food, jewelry, and other luxury items. Online sales climbed 16.5 percent from a year earlier, fueled by increased Chuseok-related purchases, continued growth in e-coupons, gift cards, and food delivery, and a broader shift toward online holiday shopping. By category, offline sales declined in electronics/culture (down 22.9 percent), household goods (down 9.4 percent), and children’s/sporting goods (down 4.0 percent). Online sales grew across food (up 26.0 percent), electronics (up 10.0 percent), and services such as e-coupons, gift cards, and food delivery (up 16.1 percent).   date2025-10-29

Discussing the Future of Productivity in the Asia-Pacific Region in Seoul

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that it will co-host the 66th session of the Asian Productivity Organization (APO) Governing Body Meeting (GBM) with the Korea Productivity Center (Chairman Park Sungjoong) from October 28 to 30 at The Plaza Seoul. This marks the first time since 2017 that Korea has hosted the meeting. Founded in 1961, the APO is an international organization dedicated to improving productivity and promoting sustainable economic growth across the Asia-Pacific region. The organization currently comprises 20 member economies, and this year’s meeting will bring together around 80 delegates from 19 of them. Key agenda items for this year’s GBM include the APO Vision 2030 Strategy and Implementation Roadmap, which will address challenges such as AI and digital transformation, declining birth rates and aging populations, and climate change.  Delegates will also discuss ways to enhance the APO’s operational framework, drawing on the experiences of other international organizations such as the International Labour Organization (ILO) and the World Bank. In his welcoming remarks, Lee Seung-ryeol, Director General for Industrial Policy at MOTIR, emphasized that “enhancing productivity is the most effective solution for achieving sustainable growth. Korea will continue to strengthen cooperation with member economies to ensure a smooth AI transformation that leads to productivity innovation across the Asia-Pacific region.” In his opening address, Park Sungjoong, Chairman of the Korea Productivity Center, stated, “The world today faces a complex array of challenges, including AI transformation, the climate crisis, and demographic shifts. The APO must pursue fundamental innovation in response to these demands of the times, and I hope this meeting serves as a turning point that lays the foundation for that transformation.”   date2025-10-28

Korean Companies Going Global Beyond APEC

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that, in collaboration with the Korea Chamber of Commerce and Industry (KCCI), the Korea Trade-Investment Promotion Agency (KOTRA), and other relevant organizations, it will host a series of business events during the APEC Economic Leaders’ Week, including the APEC CEO Summit, side events, and export and investment programs. Taking place from October 28 to 31 at the Gyeongju Arts Center, the CEO Summit is one of APEC’s two main cooperation platforms, serving as a vital bridge between policy and markets. The event will bring together heads of state from APEC member economies, global CEOs, and thought leaders to discuss key global issues such as artificial intelligence (AI) and climate change, while exploring innovative ideas and practical solutions. This year’s Summit, held under the theme “Bridge, Business, Beyond,” will feature 20 sessions covering topics such as AI and digital transformation, regional economic integration, sustainability, finance and investment, and biotechnology and health. Approximately 1,700 global business leaders are expected to participate in shaping the future of APEC. Among the speakers, President Lee Jae Myung and other APEC leaders will deliver special addresses. CEOs from leading global companies—including NVIDIA, Citigroup, and Amazon Web Services (AWS)—as well as the Secretary-General of the OECD and heads of other international organizations, will also attend to share insights through presentations and discussions. APEC, with its voluntary, consensus-based decision-making structure and open, cooperative framework, has long served as an “incubator of ideas,” advancing innovative policy proposals. Since its launch in 1996, the APEC CEO Summit has played a central role in driving these efforts. As a side event to the CEO Summit, the Future-Tech Forum (six sessions in total, October 27–28 and 30, at the Gyeongju Arts Center and Expo Park) has been specially organized for this year’s APEC CEO Summit hosted by Korea. The forum will present a vision for the future of Korean industries and create new markets and business opportunities for Korean companies. Global industry leaders, tech enterprises, and renowned scholars are expected to share in-depth insights across key sectors such as AI, shipbuilding, and defense. Major sessions include the AI Forum—featuring AWS, OpenAI, and Meta—and the Shipbuilding Forum, joined by companies such as Huntington Ingalls Industries, Anduril, and Siemens, where participants will explore avenues of collaboration with Korean firms. Meanwhile, the K-Tech Showcase (October 28–31, Expo Park), featuring Samsung Electronics, LG Electronics, SK Group, and Hyundai Motor Company, will serve as a major platform to demonstrate the cutting-edge technological competitiveness of Korean companies. In addition, during the APEC Economic Leaders’ Week, MOTIR will host a variety of related events across Korea—including Seoul and other major cities—focusing on exports, investment, and innovation. Boom-Up Korea Week (October 21–November 7, held nationwide in Seoul, Ilsan, Busan, and Daegu) will feature large-scale export consultations connecting over 1,700 international buyers with Korean companies through 28 industry exhibitions nationwide, boosting export growth for Korean businesses. The Invest KOREA Summit (October 30–31, Seoul) will include investment signing ceremonies, conferences, forums, and consultations, and is expected to yield tangible results in attracting foreign investment in advanced industries and supply chain sectors. Hosted by the Ministry of SMEs and Startups, the Global Super Gap Tech Conference (October 28–29, Seoul) will support Korean deep-tech startups in securing new technology strategies, fostering their growth and accelerating their glob date2025-10-28

Vice Minister Meets Saudi Arabia’s Assistant Minister of Industry and Mineral Resources

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources met with Abdullah bin Ali Al-Ahmari, Assistant Minister of Industry and Mineral Resources for Planning and Development of Saudi Arabia on Monday, October 27, 2025, at the Government Complex Seoul in Jongno-gu. During the meeting, the two sides discussed industrial cooperation between Korea and Saudi Arabia and explored measures to support Korean business projects currently underway in Saudi Arabia.   date2025-10-28

Korea and Saudi Arabia Step Up Cooperation in Core Manufacturing and Future High-Tech Industries

Saudi Arabia, the largest economy in the Middle East and North Africa region, is accelerating cooperation with Korea in key manufacturing sectors such as shipbuilding and automobiles, while partnerships in future high-tech industries, including artificial intelligence (AI), are also expected to gain momentum. Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) held the Korea–Saudi Vice Ministerial Meeting on Industry with Abdullah bin Ali Al-Ahmari, Assistant Minister of Industry and Mineral Resources for Planning and Development of Saudi Arabia, at the Government Complex Seoul on Monday, October 27, to discuss ways to strengthen industrial cooperation between the two countries and Saudi Arabia’s support for Korean business projects underway in the Kingdom. The meeting was also significant as it reviewed progress on major industrial cooperation initiatives discussed at the 5th Korea–Saudi Vision 2030 Committee, held in Seoul on September 27. Vice Minister Moon highlighted that Korean companies operating in Saudi Arabia have been actively contributing to the realization of Vision 2030, the Saudi government’s national strategy for economic diversification in the post-oil era. He requested continued attention and support from the Saudi government to ensure smooth implementation of related projects. Both sides agreed to maintain close government-level communication to support the progress of major industrial cooperation projects in Saudi Arabia’s core manufacturing sectors—most notably, International Maritime Industries (IMI), being developed within the King Salman International Complex for Maritime Industries and Services as the largest shipyard in the Middle East, and Hyundai Motor Company’s first assembly plant in the Middle East, now under construction in King Abdullah Economic City. In addition, the two vice ministers agreed to advance practical cooperation through relevant research institutes on the joint development of eco-friendly shipbuilding technologies aimed at reducing carbon emissions, a new initiative proposed by Saudi Arabia and adopted at the 5th Korea–Saudi Vision 2030 Committee Meeting. They also agreed to continue discussions on establishing hydrogen vehicle infrastructure, including the installation of hydrogen refueling stations and hydrogen quality management systems in Saudi Arabia, which Korea proposed as a new cooperation project during the same meeting. Vice Minister Moon further noted that as both countries are investing heavily in the AI industry as a future growth engine, Korea and Saudi Arabia should accelerate cooperation in AI infrastructure, including advanced semiconductors and data centers, while also expanding collaboration in AI applications such as digital twins, cloud computing, and robotics. Assistant Minister Al-Ahmari welcomed these proposals and agreed to work toward their practical implementation.   date2025-10-27

Korea Announces New Basic Plan to Strengthen Materials, Parts, and Equipment Industry

The Ministry of Trade, Industry and Resources (MOTIR) announced the 2026–2030 Basic Plan for Strengthening the Materials, Parts, and Equipment (MPE) Industry, outlining strategies to enhance innovation, market, and ecosystem capabilities to drive a new phase of growth and global competitiveness. The new plan builds on achievements made since the 2019 Japanese export restrictions, which led to the first MPE Basic Plan (2020–2025) and accelerated Korea’s technological independence in key sectors. The revised plan aims to support the nation’s advanced industries and economic security in an era of intensifying global competition, while responding to emerging challenges such as artificial intelligence (AI) and carbon neutrality. Under the new plan, MOTIR will designate ten additional MPE Specialized Clusters by 2030 to expand Korea’s core manufacturing bases and foster cooperation between demand and supply companies. It will also launch 15 Super Eul Projects to develop world-leading technologies and five AI New Materials Projects to create materials for extreme environments using artificial intelligence. The government will promote collaboration in technology, production, and procurement across the value chain and advance ten ecosystem-based cooperation models to secure next-generation supply chains. Three new industry collaboration projects will receive KRW 35 billion in joint R&D and policy support over five years. Minister Kim Jung-kwan emphasized that the government will “reinforce the sector’s fundamental competitiveness through challenge, innovation, and speed,” adding that it will “expand fiscal, fund-based, and policy support while actively pursuing supply chain stabilization.”   date2025-10-24

Korea and IDB Discuss Expanding Korea–Latin America Trade and Investment Cooperation

Yeo Han-Koo, Trade Minister at the Ministry of Trade, Industry and Resources (MOTIR), met with Anabel González, Vice President for Countries and Regional Integration at the Inter-American Development Bank (IDB), in Seoul on Thursday, October 23, to exchange views on the global trade environment and discuss ways to expand trade and investment cooperation between Korea and Latin America. During the meeting, Minister Yeo highlighted that Latin America—with a population of about 690 million and a GDP of around USD 7 trillion—is a vast market endowed with abundant natural resources such as lithium and copper. He stressed that amid the rise of protectionism and resource nationalism worldwide, Latin America is an important partner for Korea in diversifying markets and strengthening supply chain resilience. The minister noted that expanding trade and investment between Korea and Latin America would generate mutual benefits such as greater production and trade growth. He proposed three key directions for future cooperation: (1) diversifying trade through broader economic networks, (2) expanding collaboration in critical minerals, defense, and infrastructure, and (3) promoting private-sector investment through close government-to-government dialogue and cooperation. He also requested the IDB’s advice and support in further strengthening Korea–Latin America trade and investment, given its extensive regional network and expertise. Finally, Minister Yeo stated that MOTIR is currently supporting industrial technology and green energy development in several Latin American countries—including Colombia, Honduras, Paraguay, and Guatemala—through official development assistance (ODA) projects. He proposed that Korea and the IDB jointly identify and design new ODA initiatives to further advance industrial development in the region. Minister Yeo also emphasized that Korea, home to many globally competitive enterprises, is an ideal partner for Latin America’s economic development, and requested the IDB’s cooperation in expanding Korean companies’ participation in IDB-led projects.   date2025-10-24

Trade Minister Yeo Han-koo Meets IDB Vice President

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources met with Anabel González, Vice President for Countries and Regional Integration at the Inter-American Development Bank (IDB), at the Lotte Hotel in Jung-gu, Seoul on Thursday, October 23, 2025, to discuss ways to expand trade and investment cooperation between Korea and Latin America. date2025-10-24