Ministry of Trade Industry and Resources

MOTIR Highlights Responsible Business Conduct as Key to Sustainable Growth in the AI and Supply Chain Era

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) co-hosted the 2026 Public-Private Seminar on Responsible Business Conduct (RBC) with the National Human Rights Commission of Korea and UN Global Compact Network Korea at the Korea Chamber of Commerce & Industry (KCCI). RBC refers to responsible business practices across economic and social areas, including human rights, labor, and the environment, as set out in the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct. The event drew approximately 100 participants, including corporate representatives and ESG experts.  The seminar marked the 50th anniversary of the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct. It provided an opportunity to reflect on the Guidelines’ role as an international standard for responsible business conduct over the past five decades and to strengthen Korean companies’ ability to respond to a rapidly changing business environment shaped by global supply chain shifts and the wider use of AI. Participants shared approaches to the responsible use of AI; managing human rights and labor risks in critical mineral supply chains; government support for human rights management by Korean companies operating overseas; and corporate AI governance. They also discussed key RBC issues arising from AI and supply chain developments and how companies should respond. “The Korea NCP will expand training and outreach to promote the adoption of the OECD Guidelines across Korean businesses,” said Kang Gam-chan, Deputy Minister for International Trade and Investment at MOTIR, in his opening remarks. “We will also strengthen support for resolving disputes arising from the implementation of the Guidelines.” date2026-07-14

Korea’s ICT Exports Reach Record $253.9 Billion in First Half of 2026

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Science and ICT (MSIT, Deputy Prime Minister and Minister Bae Kyung-hoon) announced on July 14, 2026, that Korea’s ICT exports reached USD 253.9 billion in the first half of 2026, up 120.5 percent year-on-year from $115.1 billion. Imports rose 31.3 percent from $71.0 billion to $93.2 billion, resulting in a trade surplus of $160.7 billion. In June, ICT exports increased 160.4 percent year-on-year from $22.0 billion to $57.3 billion. Imports rose 46.4 percent from $12.4 billion to $18.2 billion, resulting in a trade surplus of $39.1 billion. First-Half 2026 ICT Trade ICT exports reached a record high in the first half of 2026, with growth across all major products and destinations. Semiconductors and solid-state drives (SSDs), supported by expanding global demand for AI, accounted for 83.7 percent of ICT exports and drove overall growth. For the first time, ICT exports accounted for more than half of Korea’s total exports, demonstrating the sector’s role as a key driver of industrial growth. The ICT trade surplus also reached a record high, surpassing the previous full-year record within the first six months of 2026. By product, exports increased across all major categories: semiconductors (up 162.5 percent), computers and peripherals (up 233.8 percent), mobile phones (up 38.0 percent), displays (up 3.8 percent), and telecommunications equipment (up 7.3 percent). Semiconductor exports increased as higher investment in AI and other servers raised memory demand and prices. Mobile phone exports grew on stronger sales of high-end finished products and higher exports of high-value parts, including camera modules. Strong SSD demand amid expanding AI infrastructure lifted first-half exports of computers and peripherals above $20.0 billion for the first time. Display exports increased on higher demand for new laptop models and high-value OLED products. Telecommunications equipment exports rose on higher shipments of wired equipment and wireless components to Vietnam and wireless components to Japan. By destination, exports increased in all major markets: China, including Hong Kong (up 141.0 percent), Vietnam (up 74.5 percent), the United States (up 215.6 percent), the European Union (up 70.1 percent), Japan (up 36.3 percent), Taiwan (up 92.5 percent), and India (up 48.6 percent). ICT imports totaled $93.2 billion in the first half of 2026, up 31.3 percent year-on-year. Imports of mid-sized and large computers rose 63.7 percent to $2.85 billion, reflecting increased investment to strengthen AI capabilities. June 2026 ICT Trade June ICT exports continued to grow despite uncertainty from the conflict in the Middle East. Monthly exports surpassed $50.0 billion for the first time and set a new record for a second consecutive month. The ICT trade surplus also remained above $30.0 billion for a second straight month and reached a record high. By product, exports increased across all major categories: semiconductors (up 199.4 percent), displays (up 30.3 percent), mobile phones (up 62.5 percent), computers and peripherals (up 284.7 percent), and telecommunications equipment (up 23.0 percent). Semiconductor exports reached a record high as growing memory demand for AI and other servers supported higher prices. Exports of computers and peripherals increased on strong SSD shipments amid continued expansion of AI infrastructure. Display exports grew on higher shipments of OLED panels for new mobile phone models and LCD panels for lower- and mid-priced laptops. Mobile phone exports increased as higher memory prices raised average selling prices and demand grew for high-end finished products. Telecommunications equipment exports rose on higher shipments of wireless communications equipment to the U.S. and Vietnam and automotive equipment to India. By destination, exports increased in date2026-07-14

Korea to Lead International Standardization of Smart Manufacturing in M.AX Era

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced on July 13, 2026, that Korea will serve as the secretariat for the newly established Smart Manufacturing and Enterprise Applications Subcommittee (SC 65F) under Technical Committee 65 (TC 65) of the International Electrotechnical Commission (IEC). SC 65F was established in response to the rapid spread of advanced digital technologies such as AI and digital twins across manufacturing sites, which is driving the industry's AI transformation into full swing. It will develop international standards for key areas of future manufacturing, including digital twin factories that recreate physical production processes in virtual environments; smart manufacturing systems that connect data across the entire process from design to production; and autonomous manufacturing systems that use AI to make decisions and control production processes. KATS worked with multiple countries from the early stages of discussions to establish the SC 65F. This early involvement led to Korea’s selection as the secretariat. The role has no fixed term and oversees and coordinates both the subcommittee’s operations and the development of international standards, placing Korea in a position to lead this work on a sustained basis. Going forward, KATS will serve as the SC 65F secretariat to establish key Korean technologies for Manufacturing AI Transformation (M.AX) as international standards, including manufacturing data and technologies for operating and managing AI in manufacturing. KATS plans to strengthen the global competitiveness of Korean companies through this standardization work. “Serving as the secretariat gives Korea a foundation to lead international standards for future manufacturing, beyond its established strength as a manufacturing nation,” said KATS President Kim Dae-ja. “We will support Korean companies so that their M.AX technologies and innovations can be reflected in international standards. date2026-07-13

Korea and Mongolia Strengthen Distribution, Logistics, and Critical Minerals Cooperation

1. Korea–Mongolia Ministerial Meeting on Industry and Mineral Resources Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Mongolian Minister of Industry and Mineral Resources Gongor Damdinnyam in Ulaanbaatar on July 10, 2026, during President Lee Jae Myung’s state visit to Mongolia. The ministers discussed ways to advance Korea–Mongolia cooperation on critical minerals. The ministers agreed that the Korea–Mongolia Rare Metals Cooperation Joint Committee and the Korea–Mongolia Rare Metals Cooperation Center, established under the rare metals supply chain cooperation MoU signed in February 2023, have supported information sharing and business cooperation between the two countries. They agreed to expand cooperation in mineral resources technology, workforce development, and business exchanges through the Cooperation Center to strengthen critical mineral supply chains and develop a mutually beneficial model for shared growth. The ministers also noted tangible progress, including the supply of Mongolian tungsten concentrate to Korea, and agreed to strengthen supply chain links. To build on the momentum from the state visit, the ministers agreed to upgrade the Korea–Mongolia Rare Metals Cooperation Joint Committee from a vice minister-level body to a ministerial consultative body co-chaired by the two ministers. They agreed to convene the upgraded Committee in the second half of 2026 and revise the MoU at the meeting to reflect the needs of Korean companies and relevant institutions and strengthen the institutional framework for bilateral mineral resources cooperation. With the ODA project for the Korea–Mongolia Rare Metals Cooperation Center scheduled to end in 2027, the ministers agreed to identify follow-up projects in joint research, workforce development, and business exchanges to sustain the Center as a long-term cooperation platform. They also agreed that the two governments would support cooperation between businesses and research institutions so that cooperation MoUs reached during the state visit—from critical mineral exploration and research to supply chain cooperation—lead to tangible results. At the meeting, Minister Kim emphasized that transparent information sharing and better logistics and transportation are essential to expanding Korean business activity in Mongolia and ensuring mutual benefits. Minister Damdinnyam said Korea is a key partner in developing Mongolia’s mineral resources and enhancing their value. He added that Mongolia would continue working to address difficulties faced by Korean companies. MOTIR will work with Mongolia to hold the upgraded Committee meeting in the second half of 2026 and continue consultations to deliver tangible results from bilateral mineral resources cooperation. 2. Roundtable with Mineral Resources Companies and Institutions Before the ministerial meeting, Minister Kim met with representatives of companies and institutions accompanying the presidential delegation to discuss cooperation with Mongolia on mineral resources. Participants included POSCO Holdings, POSCO International, LS, Hanwha Investment & Securities, the Korea Institute of Geoscience and Mineral Resources (KIGAM), the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR), and the Korea Trade-Investment Promotion Agency (KOTRA). Participants stressed the need to first address the information, logistics, and regulatory challenges Korean companies face when entering Mongolia. Minister Kim said the government would use the ministerial meeting and the Joint Committee to address these issues and improve the business environment. He also called on Korean companies to help ensure that the Korea-Mongolia Rare Metals Cooperation Center’s ODA project, which ends in 2027, serves not only as a platform for technical cooperation but also for business exchange date2026-07-10

Korea Holds WTO Consultations to Address Export Difficulties from Foreign Technical Regulations

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Food and Drug Safety (MFDS, Minister Oh Yu-kyoung) attended the second WTO Committee on Technical Barriers to Trade (TBT) meeting of 2026, held from July 7 to 10, 2026. During the meeting, the two agencies held multilateral and bilateral consultations to address export difficulties faced by Korean companies over foreign technical regulations. At the Committee, Korea raised eight foreign technical regulations as Specific Trade Concerns (STCs), citing their expected impact on Korean semiconductor, chemical, battery, display, and cosmetics exporters. The regulations included the European Union’s Packaging and Packaging Waste Regulation (PPWR), Single-Use Plastics Directive, and proposed restriction on per- and polyfluoroalkyl substances (PFAS); Indonesia’s National Standard (SNI) certification requirements for tires; and Vietnam’s Draft Decree on the Management of Cosmetics. At the Thematic Session on Lithium-ion Batteries, Korean experts served as chair and speaker, introducing Korea’s battery industry and leading discussions on industry concerns as companies respond to global battery regulations, including the EU’s Battery Regulation. “The government will continue to address difficulties faced by Korean exporters due to foreign technical regulations,” KATS President Kim Dae-ja said. “We encourage companies to make full use of the government’s TBT consultation channels to address export difficulties caused by foreign technical regulations.” date2026-07-09

MOTIR Takes First Step Toward Commercializing “Wonder Material” Graphene

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the launch meeting for the Graphene Industrialization Network on July 8, 2026, in Ilsan, where NANO KOREA 2026 is being held. The meeting brought together graphene experts from industry, academia, and research institutions. As part of work to implement the ultra-innovative economy flagship projects, MOTIR organized the meeting to establish a cooperation platform that brings together end-user companies, suppliers, and research institutions to address challenges raised by industry in commercializing graphene. Ahead of the meeting, MOTIR released a technology roadmap for commercializing graphene, developed through industry consultations that began in October 2025. The roadmap begins with addressing heat-management challenges in advanced industries by using graphene’s high conductivity, and points over the longer term to broader graphene applications across these industries. The roadmap is expected to help shape technology development and commercialization strategies that reflect the needs of advanced industries. At the meeting, participants agreed that graphene’s diverse properties give it potential for a broad range of applications, and that there is a need to continue identifying new industry demand and applications beyond the directions set out in the roadmap. Participants also agreed to continue discussions through the Graphene Industrialization Network on the material properties and quality standards required by end-user companies, potential demonstration projects, and barriers to commercialization. “Graphene is a material with the potential to transform advanced industries,” said Choi Woo-hyuk, Director General for High Technology Industry at MOTIR. “With the roadmap released today and the Graphene Industrialization Network as a starting point, MOTIR will work closely with industry to support demonstrations and help create initial demand, so that graphene’s potential can lead to practical industrial applications.” date2026-07-08

Korea and UAE Deepen Critical Resource Supply Chain and Industrial Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates (UAE) and Group CEO of the Abu Dhabi National Oil Company (ADNOC), on July 8, 2026. The two ministers discussed ways to stabilize critical resource supply chains and expand industrial cooperation. Korea and the UAE have deepened their strategic partnership through a series of high-level exchanges, including the Korean President’s state visit to the UAE in November 2025, Minister Kim’s visit in June 2026, and the visit by the Presidential Special Envoy for Strategic Economic Cooperation in March 2026. Cooperation has expanded across critical resources such as crude oil and naphtha, as well as nuclear power, energy infrastructure, and advanced industries. On the occasion of Minister Al Jaber’s visit to Korea, the two sides reviewed the key areas of cooperation they have advanced so far to maintain momentum, and held more detailed discussions on shared interests, including AI and energy infrastructure. During the meeting, the two ministers signed the agreement on strategic cooperation between MOTIR and ADNOC on the crude oil supply chain. Covering stable crude oil supply, emergency response measures, and joint stockpiling, the agreement sets out their commitment to build crude oil security cooperation that remains reliable even during crises, including conflicts in the Middle East. The signing comes as Middle East tensions have somewhat eased since the United States and Iran signed a memorandum of understanding on ending hostilities on June 17, 2026. The agreement is expected to further deepen bilateral cooperation on energy and resource security. The two sides also discussed cooperation on AI adoption in the refining and petrochemical industries, where both countries have strengths. Minister Kim introduced Korea’s AI transformation project for the petrochemical industry in the Ulsan-Mipo Industrial Complex, as well as examples from Korean refining and petrochemical companies leading AI adoption. He noted similarities between ADNOC’s strategy to scale AI across all crude oil-related operations and Korea’s Manufacturing AI Transformation (M.AX) policy, and proposed identifying practical cooperation projects between relevant companies and institutions in the two countries. The meeting also covered energy infrastructure projects currently being pursued by the UAE, including the expansion of oil and gas storage and transport infrastructure that bypasses the Strait of Hormuz. Minister Kim noted that Korean companies are exploring various forms of participation, including EPC contracts, in the UAE’s key projects, and asked the UAE side to consider and support their participation in related projects going forward. “Although the situation in the Middle East is changing, securing stable supply chains for critical resources remains one of the most important tasks for Korea’s economic security. Korea needs to further strengthen its strategic partnership with the UAE, a major energy supplier,” Minister Kim said. “We also need to broaden the scope of cooperation beyond critical resource supply chains by exploring new possibilities and opportunities in advanced industries such as AI. Building on this meeting, MOTIR will work closely with the UAE to deliver concrete outcomes,” he added. date2026-07-08

Korea and Singapore Hold Second Round of FTA Upgrade Negotiations

Korea and Singapore will hold the second official round of negotiations to upgrade the Korea–Singapore Free Trade Agreement (FTA) in Seoul from July 7 to 8, 2026. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) said the talks will bring together about 30 delegates from both countries. The Korean delegation will be led by Park Geun-oh, Director General for Trade Agreement Policy at MOTIR, and the Singaporean delegation by Tan Lui Hai, Director of the Northeast Asia Division at Singapore’s Ministry of Trade and Industry. The Korea–Singapore FTA entered into force in 2006, and the two countries exchanged a joint declaration during the Korean President’s state visit to Singapore in March 2026, agreeing to launch upgrade negotiations. The first round of negotiations was held in Singapore in April. At the second round, Korea plans to hold sector-specific talks on supply chains, the green economy, and aviation MRO. Through the talks, Korea and Singapore will seek to deepen the broader trade partnership, expand cooperation in new trade areas, and strengthen bilateral aviation MRO cooperation. “Singapore is Korea’s second-largest investment and trade partner in ASEAN,” said Director General Park. “Korea will make every effort to achieve outcomes in the upgrade negotiations that help Korean companies enter the Singapore market, including by modernizing trade rules.” date2026-07-07