Ministry of Trade Industry and Resources

Korea to Expand Cooperation with Guangdong, China’s Largest Regional Economy

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that Deputy Minister for Trade Park Jong-won will visit Guangdong Province, China, from October 20 to 21 to attend the 10th Korea–Guangdong Development Forum and hold bilateral talks with Zhang Guozhi, Deputy Governor of Guangdong Province, to strengthen economic and industrial cooperation with China’s largest provincial economy. Guangdong ranks first among China’s 31 provinces and municipalities in both gross regional domestic product (GRDP) and foreign trade volume. Last year, Korea–Guangdong trade totaled about USD 57.6 billion, exceeding Korea’s trade with its sixth-largest partner, Australia (USD 45.6 billion), and accounting for 18 percent of total Korea–China trade, the second-largest share after Jiangsu Province. About 1,600 Korean companies, including Hyundai Motor’s hydrogen fuel cell plant and LG Display’s OLED plant, currently operate in the province. The Korea–Guangdong Development Forum, now in its 10th year, is the first high-level cooperation platform between the Korean and Chinese local governments. This year’s forum will bring together officials from both governments, business associations, and companies to share investment policies and discuss cooperation in emerging industries such as hydrogen, AI, and biotech, as well as strategies for Korean companies to expand into China’s domestic market. In his congratulatory remarks, Deputy Minister Park will emphasize that amid global trade uncertainty and the diversification of Korea–China industrial relations, strengthening cooperation with Chinese provincial governments is vital to creating new business opportunities. He will propose deeper collaboration with Guangdong, China’s hub for advanced industries, in hydrogen, AI, and biotech, to promote mutual growth through expanded trade and investment. Deputy Minister Park will also meet with Deputy Governor Zhang Guozhi to discuss support for Korean companies operating in Guangdong, as well as ways to enhance supply chain stability and cooperation in new industries. He will express appreciation for Guangdong’s assistance in maintaining stable trade relations despite the recent strengthening of export controls and emphasize the importance of continuing such collaboration. MOTIR stated that it will continue to strengthen partnerships with major Chinese provincial governments to promote practical cooperation that supports Korean companies’ business activities in China.   date2025-10-20

Korea Leads Development of International Standards for Eco-Friendly and Autonomous Offshore Plants

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Resources (MOTIR) announced that Korea will propose four new international standards reflecting next-generation offshore plant technologies at the ISO Technical Committee 67 (Oil and Gas Industries Including Lower Carbon Energy) General Assembly, to be held in Geoje, Gyeongsangnam-do, from October 20 to 24. This marks the first time since its founding in 1947 that ISO TC 67 will hold its General Assembly in Korea. About 100 experts from 16 member countries are expected to attend to discuss international standards for the oil, gas, and renewable energy plant sectors. At the meeting, Korean companies including Samsung Heavy Industries will lead efforts to standardize key technologies that support unmanned operation and eco-friendliness in offshore plants. Korea will propose standards on “Safety Signage and Emergency Escape Route Requirements” for unmanned offshore plants and “Aerogel Insulation Installation Guidelines” for efficient operation of ammonia and hydrogen pipelines in renewable energy plants. Additional proposals include standardizing material specifications for piping and structural bolts and nuts suitable for marine environments to enhance structural safety, and establishing performance and testing standards for coating materials used in offshore plants to improve corrosion resistance and long-term durability. The event will also include a technical seminar highlighting Korea’s latest offshore plant technologies and a site tour of Samsung Heavy Industries’ shipyard and offshore production facilities, giving international experts an opportunity to experience Korea’s technological leadership firsthand. KATS President Kim Dae-ja stated, “This ISO TC 67 General Assembly marks a significant opportunity for Korea to lead international standardization in the offshore plant sector. We will expand cooperation on next-generation technologies such as autonomous plants and renewable offshore energy while supporting Korean companies’ global market entry.”   date2025-10-20

MOTIR Explores Investment Cooperation with Japanese Advanced Materials, Parts, and Equipment Companies

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan), together with the Korea Trade-Investment Promotion Agency (KOTRA, President and CEO Kang Kyung-sung), hosted the Korea–Japan Investment Forum on Friday, October 17, at The Okura Tokyo. The forum aimed to attract investment from Japan’s advanced materials, parts, and equipment companies into Korea. This event marked MOTIR’s second major overseas investment promotion this year, following the Korea–France Investment Forum in September. The event brought together approximately 150 participants, including executives from leading Japanese high-tech companies such as Tokyo Electron (TEL), Mitsui Chemicals, and Tokyo Ohka Kogyo (TOK). Participants discussed Korea’s advanced industry trends, foreign investment environment, and opportunities for Korea–Japan technological collaboration, while also sharing success stories and exploring future investment partnerships. In particular, global semiconductor equipment maker TEL drew strong attention by presenting its successful investment experience in Korea. Since entering the Korean market in 2006, TEL has focused on semiconductor equipment supply and R&D, maintaining close collaboration with Korea’s major semiconductor anchor companies. In his opening remarks, MOTIR’s Director General for Investment Policy Yoo Beop-min emphasized, “By combining Japan’s technological strength in materials, parts, and equipment with Korea’s advanced manufacturing capabilities, the two countries can jointly achieve supply chain stability and innovation in high-tech industries.” He added, “The Korean government will further strengthen cash grants and other incentives for foreign investors contributing to supply chain resilience, technological advancement, and job creation, while working to remove regulatory barriers to make Korea one of the most business-friendly countries in the world.”   date2025-10-17

Korea and Sweden Discuss Strategic Cooperation Amid Global Trade Shifts

Vice Minister of Trade, Industry and Resources Moon Shin-hak attended the Korea–Sweden Sustainable Partnership Summit, held at the Grand Hyatt Seoul on Thursday, October 16, as part of economic events marking the visit of Swedish Crown Princess Victoria to Korea.   The annual summit, launched following reciprocal visits by the leaders of both countries in 2019, aims to strengthen bilateral economic cooperation. This year’s discussions focused on strategic collaboration to enhance sustainability and resilience in response to global trade challenges such as climate change, energy transition, and rising geopolitical tensions. The event brought together around 200 participants, including Crown Princess Victoria and Prince Daniel of Sweden, government officials, and major business leaders from both countries. Participants exchanged views on the role of leadership in building a resilient future and on linking AI with sustainability. In addition, three memoranda of understanding (MOUs) were signed between Korean and Swedish companies and research institutes in the fields of power, semiconductors, and offshore wind, creating a foundation for mutually beneficial private-sector cooperation. In his congratulatory remarks, Vice Minister Moon emphasized the need for Korea and Sweden to strengthen their strategic partnership grounded in pragmatism amid growing global trade uncertainty. He stated, “Through this summit, the two countries should develop a practical roadmap that encompasses both sustainability and security to generate new growth momentum, and the Korean government will fully support future-oriented cooperation with Sweden.”   date2025-10-16

MOTIR Minister Meets Kazakh Deputy Prime Minister to Discuss Industrial and Trade Cooperation

Minister of Trade, Industry and Resources Kim Jung-kwan met with Kazakhstan’s Deputy Prime Minister Kanat Bozumbayev on Wednesday, October 15, at the Lotte Hotel Seoul to discuss key issues in bilateral economic and trade cooperation. Deputy Prime Minister Bozumbayev was accompanied by four senior officials, including Sayasat Nurbek, Minister of Science and Higher Education, and Olzhas Saparbekov, Vice Minister of Industry and Construction. Minister Kim and Deputy Prime Minister Bozumbayev noted the close and mutually beneficial relationship that has developed between the two countries since the establishment of diplomatic ties in 1992. They agreed on the need to further strengthen cooperation in various fields, including manufacturing, plant construction, and critical mineral supply chains, amid rapidly changing global trade conditions. During the meeting, Minister Kim proposed expanding collaboration in manufacturing and raised business concerns regarding the lack of logistics infrastructure for Kia’s new operations in Kazakhstan and the circulation of counterfeit Korean home appliances. He requested the Kazakh government’s attention and support to resolve these issues promptly. On plant sector cooperation, Minister Kim called for greater participation by Korean companies in new projects and support for ongoing construction projects. Regarding critical mineral supply chains, he suggested enhancing cooperation through the establishment of the Rare Metals Technology Cooperation Center, which will be supported by MOTIR’s official development assistance (ODA) program beginning next year. On Kazakhstan’s Alatau City development project, Minister Kim emphasized that Korea possesses advanced technologies and extensive experience in areas such as eco-friendly development, artificial intelligence, and future mobility, and expressed hope to continue close cooperation in these fields.   date2025-10-16

FDI Arrivals to Korea Edge Down 2% through Q3 2025

The Ministry of Trade, Industry and Resources (MOTIR) announced today that foreign direct investment (FDI) pledges to Korea in the first three quarters of 2025 (cumulative, Jan–Sep) decreased 18.0 percent year-on-year to USD 20.7 billion, while FDI arrivals over the same period fell 2.0 percent to $11.3 billion. By type, greenfield investment pledges dropped 6.1 percent to $17.8 billion, while M&A pledges plunged 54.0 percent to $2.9 billion amid a global slowdown in large-scale acquisitions. In contrast, greenfield arrivals rose 23.0 percent to $8.2 billion. By region, FDI pledges from the United States surged 58.9 percent to $5.0 billion, driven by investments in chemicals, distribution, and ICT, while pledges from the EU, Japan, and China fell 36.6 percent, 22.8 percent, and 36.9 percent, respectively. By industry, manufacturing-sector pledges decreased 29.1 percent to $8.7 billion, with gains in transport machinery offset by declines in electrical and electronic components. Service-sector pledges dropped 6.9 percent to $11.1 billion, but investment in distribution and information and communications increased, supported by sustained interest in AI-related fields such as data centers, autonomous driving software, and robotics.   date2025-10-15

Korea’s ICT Exports Hit Record High in September

The Ministry of Trade, Industry and Resources and the Ministry of Science and ICT announced on October 15 that Korea’s exports of ICT goods in September 2025 reached an all-time high of USD 25.4 billion (up 14.0 percent year-on-year), while imports rose 10.4 percent to $13.8 billion. The trade balance recorded a surplus of $11.7 billion, the second-largest on record. Despite ongoing global trade uncertainties, ICT exports reached their highest level ever, led by record-breaking semiconductor shipments for the second consecutive month, along with stronger exports of displays and communication equipment. Semiconductor exports hit a new record as memory prices continued to rise and demand for high-value products such as DDR5 and HBM remained strong. Display exports rebounded as OLED panel applications expanded in IT devices and demand recovered for mobile phones and laptops. Communication equipment exports grew on robust demand for automotive and 5G base station components in the United States and India. Meanwhile, mobile phone exports declined due to weaker component shipments, though strong finished product exports helped offset the drop. Exports of computers and peripherals also fell, affected by last year’s surge in SSD exports. By destination, exports increased to Taiwan (up 53.5 percent), Vietnam (up 20.8 percent), the EU (up 22.8 percent), Japan (up 13.0 percent), and China including Hong Kong (up 1.1 percent), driven largely by strong semiconductor shipments. Exports to the United States, however, fell 4.0 percent for the second consecutive month. ICT imports rose 10.4 percent year-on-year to $13.8 billion, with increases in displays, mobile phones, and computers/peripherals.    date2025-10-14

Korea Reappointed to ISO Technical Management Board

The Korean Agency for Technology and Standards (KATS, Administrator Kim Dae-ja) under the Ministry of Trade, Industry and Resources announced that Korea has been reappointed to the Technical Management Board (TMB) of the International Organization for Standardization (ISO) at the 47th ISO General Assembly, held in Kigali, Rwanda, from October 6 to 10. As a result, Korea will continue serving as a TMB member through 2028, with Professor Moon Young-Jun of KAIST representing the country in shaping ISO’s technical policy decisions.   The TMB is ISO’s key decision-making body that oversees the organization’s standardization activities, including the establishment and dissolution of technical committees, coordination among committees, and appointment of committee chairs. Korea’s reappointment demonstrates renewed international recognition of the nation’s strong standardization capabilities. During the General Assembly, Korea also proposed the establishment of a new ISO technical committee on GPS-based personal location service technologies and hosted a workshop to rally support from ISO member countries. Additionally, Korea signed MOUs with standardization organizations in countries such as Canada and Italy, and invited key stakeholders to attend the upcoming International AI Standards Summit scheduled for December. KATS Administrator Kim Dae-ja stated, “With this reappointment to the ISO Technical Management Board, Korea has further solidified its influence in the field of international standardization. We will continue to demonstrate leadership within ISO and strengthen our position as a trusted leader in global standardization.”   date2025-10-13