Ministry of Trade Industry and Resources

Korea, Czech Republic Build on Nuclear Power Cooperation to Expand High-Tech Industry Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited the Czech Republic from June 17 to 18, 2026. He met with Karel Havlíček, Minister of Industry and Trade of the Czech Republic, to review cooperation on the Dukovany new nuclear power plant project and discuss expanding cooperation in high-tech industries. Second Meeting of the Dukovany Steering Committee The two ministers held the second meeting of the Dukovany Steering Committee, launched in February 2026, to review the project’s implementation progress and next steps. They confirmed that Team Korea is meeting agreed milestones, including licensing document submissions, and reviewed key risks, such as staffing for licensing documentation and heavy cargo transport plans. They also discussed ways to expand Czech companies’ participation in the project and strengthen cooperation between companies from both countries. The two sides agreed to help address implementation issues and cooperate to keep the Dukovany project on track. Third Korea–Czech Supply Chain and Energy Dialogue At the third Supply Chain and Energy Dialogue that followed, the two ministers reviewed the status of cooperation in high-tech industries and discussed ways to expand future cooperation. The two sides assessed that trust built through nuclear power cooperation is broadening bilateral cooperation into high-tech industries, and agreed to press ahead with follow-up measures under the Vltava High-Tech Industry Cooperation Vision adopted in 2024. They assessed the outcomes of bilateral and multilateral joint R&D cooperation and reviewed progress on cooperation centers and joint R&D plans in robotics, batteries, and future mobility. They also reviewed follow-up responses to key concerns raised at the March 2026 business roundtable held at Minister Havlíček’s invitation and discussed Korean companies’ plans to expand investment in the Czech Republic. Korea–Czech Nuclear Business Partnership Event The two countries also held the Korea–Czech Nuclear Business Partnership Event, marking the first anniversary of the Dukovany new nuclear power plant project contract. Minister Kim, Minister Havlíček, and other key participants welcomed the steady progress made over the past year and reaffirmed their commitment to the project’s continued implementation. During the event, KEPCO Engineering and Construction (KEPCO E&C) and ENERGOPROJEKT PRAHA (EGP) signed a contract for design and licensing technical support. Minister Kim Visits Advanced Robotics Cooperation Site Minister Kim visited the Czech Technical University in Prague (CTU), where he inspected the planned site for the Advanced Robotics Center and its robotics testbed, and was briefed on robotics industry cooperation between institutions of the two countries. He said the center is expected to serve as a key hub for joint R&D, technology demonstrations, and personnel exchanges. He also noted that the robotics center is the first to advance among the robotics, battery, and future mobility cooperation centers agreed in 2025, making it a flagship project in bilateral high-tech industry cooperation. Minister Kim said, “With the Czech government pursuing a policy to extend the operating life of nuclear power plants to up to 80 years, the Dukovany new nuclear power plant project will serve as a foundation for cooperation that will continue for more than a century, from construction through operation. Building on the successful implementation of the Dukovany project, Korea and the Czech Republic will expand cooperation beyond nuclear power to high-tech industries, supply chains, and other areas.” He added, “Starting with the Advanced Robotics Center, we will move forward as planned with cooperation centers for batteries and future mobility, further strengthening our strategic partn date2026-06-19

Korea, Mongolia Discuss Ways to Advance CEPA Talks and Accelerate Strategic Economic Cooperation

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and Jadambyn Enkhbayar, Mongolia’s First Deputy Prime Minister and Minister of Economy and Development, held a Korea–Mongolia trade ministers’ meeting in Mongolia on June 17, 2026. The two sides discussed expanding economic cooperation with resource-rich Mongolia and advancing negotiations on the Korea–Mongolia Comprehensive Economic Partnership Agreement (CEPA). Mongolia is one of the world’s major resource-rich countries, with abundant minerals essential to advanced industries, including copper, molybdenum, and rare earth elements, and is an important emerging trade partner for Korea’s critical mineral supply chain stabilization strategy. Since upgrading their bilateral relationship to a Strategic Partnership in 2021, Korea and Mongolia have strengthened cooperation across politics, the economy, culture, and other areas. However, they have had no separate trade agreement to provide an institutional basis for expanding bilateral trade and investment, and have been pursuing the Korea–Mongolia CEPA since November 2023. During the meeting, Minister Yeo stressed the importance of concluding the Korea–Mongolia CEPA at an early date, noting that the agreement is key to accelerating bilateral economic cooperation and strengthening supply chain links. In the working groups on goods and rules of origin, the key areas of the CEPA negotiations, the two sides worked to align their positions toward a mutually beneficial outcome. Minister Yeo also held a roundtable with Korean companies operating in Mongolia and heard specific business concerns on the ground, including customs clearance delays and strict CEPA rules-of-origin certification requirements. At the trade ministers’ meeting, he asked the Mongolian government to give close attention to these issues and help address them. “The Korea–Mongolia CEPA will provide a key institutional foundation for expanding bilateral trade and investment and building a stable supply chain partnership,” Minister Yeo said. “We will accelerate the negotiations to reach a mutually beneficial outcome.” date2026-06-17

May 2026 Automobile Exports Total $5.83 Billion

The Ministry of Trade, Industry and Resources (MOTIR) announced that Korea’s automobile exports fell 5.9 percent year-on-year to USD 5.83 billion in May 2026, amid fewer working days and production disruptions caused by a fire at a domestic auto parts. Domestic sales and production fell 10.3 percent and 8.2 percent, respectively. For January–May, export value and production edged down 2.6 percent and 2.3 percent, respectively, while domestic sales rose 1.0 percent. By region, exports increased to Oceania (up 20.1 percent) and Africa (up 16.1 percent) in May, but declined in key markets, including North America (down 1.0 percent) and the European Union (down 6.5 percent). Exports also fell in Asia (down 37.3 percent) and the Middle East (down 4.2 percent). The decline appears to reflect a combination of domestic and external factors, including logistics disruptions from the prolonged war in the Middle East and lower used-car exports. Exports of eco-friendly vehicles remained solid. Export value rose 9.9 percent year-on-year to $2.40 billion in May, accounting for more than 40 percent of total automobile exports. Hybrid vehicles made up about 65 percent of eco-friendly vehicle exports and continued to lead growth in the segment. Domestic sales totaled 127,000 units in May, down 10.3 percent year-on-year. The decline reflected production and delivery disruptions for some domestically produced vehicles caused by parts supply issues, as well as delayed purchases ahead of new model launches scheduled for the second half of 2026. Eco-friendly vehicle sales rose 5.5 percent year-on-year to 77,000 units, accounting for more than 60 percent of total domestic sales. Electric vehicle sales rose 65.4 percent to 35,000 units. Automobile production totaled 330,000 units in May, down 8.2 percent year-on-year. The decline reflected an average of one fewer working day and some production disruptions caused by a fire at a domestic auto parts supplier. As parts supply is expected to normalize beginning in June, production and export performance are projected to improve gradually. MOTIR will continue communicating closely with the industry and monitoring parts supply, logistics conditions, and changes in export markets, as external uncertainties persist, including the global economic slowdown and expanded local sourcing by major global automakers. date2026-06-17

Korea, UAE Build on Special Strategic Partnership to Deepen Cooperation on Crude Oil Supplies, Nuclear Power, and Plant Projects

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited the United Arab Emirates (UAE) on June 16, concluding a three-country Middle East tour to bolster energy security and economic cooperation. As Korea’s third-largest crude oil supplier, the UAE is the only Middle Eastern nation to hold a Special Strategic Partnership with Korea. During a March visit by the Special Envoy for Strategic and Economic Cooperation, UAE President Mohammed bin Zayed Al Nahyan pledged to prioritize crude oil supplies to Korea amid the global energy crisis. Minister Kim's visit aimed to review the implementation of that March agreement and discuss strategic initiatives, including joint oil stockpiling, nuclear energy, and industrial plant projects. Minister Kim met with senior officials, including Musabbeh Al Kaabi, CEO of the Upstream Division at the Abu Dhabi National Oil Company (ADNOC)—a central player in global energy supply chains, where he received confirmation that the 24 million barrels of emergency crude oil pledged by the UAE in March were arriving smoothly on schedule. Minister Kim, throughout his tour, also engaged with high-level UAE officials to discuss long-term resource security cooperation. As a result, both sides agreed to continue talks on joint crude oil stockpiling, a key priority for the UAE. Furthermore, the two sides consulted extensively on cooperation regarding the UAE’s large-scale infrastructure projects—such as pipeline expansions and underground oil storage facilities—designed to establish a supply chain bypassing the Strait of Hormuz. Minister Kim requested the UAE’s active support to aid Korean companies, which possess high-level design, construction, and operational capabilities, secure participation in major plant projects aimed at stabilizing core energy supply chains. Subsequently, Minister Kim met with high-ranking officials from key UAE nuclear energy agencies, including Sharif Salim Al Olama, Undersecretary of the Ministry of Energy and Infrastructure. To deepen full-cycle cooperation at the Barakah Nuclear Power Plant, both sides reviewed corporate progress and discussed concrete plans regarding △securing stable nuclear fuel supplies, △strengthening plant maintenance, and △expanding artificial intelligence (AI) and digital transformation (DT) in plant operations. Building on the Barakah model, they also held in-depth discussions on jointly entering strategic global nuclear power markets, focusing on △selecting candidate markets, △establishing cooperation frameworks, △defining corporate roles, and △financial and investment cooperation. In addition, following the May 17 drone attack on power transmission facilities near the Barakah Nuclear Power Plant, Korea and the UAE agreed to strengthen information sharing and technical cooperation on nuclear plant protection systems. This serves as a follow-up to a May 21 Ministerial virtual, where both Ministers reviewed repair progress and discussed safety measures for Korean employees working in the region. Minister Kim stated, “The UAE is a vital partner that has steadfastly anchored Korea’s energy supply chains despite Middle Eastern uncertainties. This visit confirmed that our oil cooperation has evolved beyond simple trade into a strategic partnership that functions effectively in any crisis.” He emphasized, “Based on this deep mutual trust, we will advance our strategic partnership by deepening full-lifecycle nuclear cooperation—including operations, maintenance, security, and joint exports to third countries—while expanding opportunities for Korean companies in key plant infrastructure sectors. date2026-06-17

Korea, Qatar Agree to Resume Stable LNG Imports and Expand Cooperation in Advanced Industries

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) visited Qatar on June 15, 2026, following his June 13–14 visit to Saudi Arabia. The visit was part of his three-country trip to the Middle East to help stabilize crude oil and gas supplies and strengthen economic and trade cooperation amid the conflict in the region. Qatar is Korea’s third-largest LNG supplier. During the April visit to Qatar by the Presidential Special Envoy for Strategic Economic Cooperation, HH Sheikh Tamim bin Hamad Al Thani, the Amir of the State of Qatar, assured Korea that Qatar would supply LNG without disruption once the Strait of Hormuz returned to normal operations. Minister Kim’s visit was arranged to reaffirm Qatar’s commitment to giving Korea top priority for LNG supplies and to discuss expanding bilateral cooperation into advanced industries. Minister Kim visited QatarEnergy headquarters and met with H.E. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy. Minister Al-Kaabi oversees Qatar’s energy policy, including oil and gas resource development and LNG contracts. At the meeting, Minister Kim received a briefing on LNG production facilities and operating conditions at Ras Laffan Industrial City after four force majeure declarations were made following the outbreak of the war in the Middle East. The two sides then discussed cooperation on the gas supply chain amid geopolitical instability in the region. Building on strong mutual trust between the two countries, Minister Kim confirmed Qatar’s unchanged position that it would give Korea top priority for LNG and condensate supplies. He also asked Minister Al-Kaabi to give due consideration to Korean companies with strong technical capabilities and support their participation as new energy plant projects are expected to move forward in earnest once the war ends. On the same day, Minister Kim met with H.E. Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry. The two sides agreed to broaden bilateral cooperation beyond energy into shipbuilding, advanced industries, and other areas. They also discussed cooperation on attracting Qatari investment to Korea’s advanced industries, including AI, biotechnology, and robotics. To strengthen the strategic partnership, the two sides agreed to hold the Korea–Qatar High-Level Strategic Cooperation Committee in Doha at an early date and use the government-wide ministerial channel to make timely progress on specific cooperation projects. “At a time of growing uncertainty in the global landscape, the solid trust and cooperation Korea and Qatar have built are important for reliable energy supplies and resilient global supply chains,” Minister Kim said. “I hope the two countries will build on stable LNG supplies to strengthen energy security, broaden cooperation in future growth areas, including advanced industries and investment cooperation, and continue high-level communication to advance the bilateral partnership.” date2026-06-16

Korea’s ICT Exports Reach Record $47.8 Billion in May

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 June 15, 2026, that Korea’s ICT exports in May 2026 reached USD 47.8 billion, up 128.9 percent year-on-year from $20.9 billion. Imports rose 36.0 percent from $11.5 billion to $15.7 billion, resulting in a trade surplus of $32.1 billion. In May 2026, ICT exports topped $40.0 billion for a third straight month for the first time, despite the prolonged conflict in the Middle East, and reached record highs in both export value and year-on-year growth rate. The ICT trade surplus also topped $30.0 billion for the first time. ICT products accounted for more than half, or 54.5 percent, of Korea’s total exports, which stood at $87.8 billion, reinforcing ICT’s role as a key driver of Korea’s exports. By product, exports increased across all major categories: semiconductors (up 169.2 percent), mobile phones (up 15.9 percent), displays (up 2.8 percent), computers and peripherals (up 259.6 percent), and telecommunications equipment (up 3.7 percent). Semiconductor exports stayed above $30.0 billion for a third straight month, supported by continued export growth amid sustained investment in AI servers. Display exports returned to growth on higher demand for OLED panels used in new mobile phone models and solid sales of new laptop models. Mobile phone exports increased as average selling prices rose for high-end finished products and demand remained solid for high-value parts, including camera modules. Computers and peripherals posted record highs for a fourth consecutive month, supported by higher exports of semiconductor-based storage devices, including solid-state drives (SSDs) used in AI servers. Telecommunications equipment exports also increased on solid demand for components shipped to Vietnam and automotive equipment shipped to Mexico. By destination, exports increased in all major markets: the United States (up 254.3 percent), China, including Hong Kong (up 157.3 percent), the European Union (up 53.9 percent), Taiwan (up 95.5 percent), Vietnam (up 90.8 percent), India (up 56.0 percent), and Japan (up 33.2 percent). ICT imports totaled $15.7 billion in May 2026, up 36.0 percent from $11.5 billion a year earlier, as imports increased across most major ICT categories: semiconductors (up 62.6 percent), mobile phones including parts (up 16.0 percent), and computers and peripherals (up 15.5 percent). date2026-06-16

Trade Minister Yeo Meets Deputy Prime Minister Sun to Discuss Korea–Cambodia Economic Cooperation

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Sun Chanthol, Cambodia’s Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia (CDC), at the Korea Chamber of Commerce and Industry (KCCI) in Seoul on June 15, 2026. The two sides discussed expanding economic and trade cooperation between Korea and Cambodia.  The meeting was held at Deputy Prime Minister Sun’s request during his visit to Korea for the 2026 Incheon–Cambodia Investment Roadshow, held in Incheon. The two sides exchanged views on a broad range of bilateral economic issues, including the implementation of the Korea–Cambodia Free Trade Agreement (FTA), stronger economic cooperation, official development assistance (ODA), and international greenhouse gas emissions reduction. Minister Yeo welcomed the continued growth in bilateral trade and investment since the Korea–Cambodia FTA entered into force in 2022 and bilateral relations were upgraded to a strategic partnership in 2024. Minister Yeo also shared updates on MOTIR’s ODA projects for Cambodia, including the TASK (Technology Advice and Solutions from Korea) Center Project for Cambodia’s food processing sector, which has been under way since 2023, and the ASEAN Trade Officials Training Program scheduled for the second half of 2026. Deputy Prime Minister Sun said Korea’s ODA projects have contributed significantly to Cambodia’s economic development and expressed hope that they would further strengthen bilateral cooperation. The two sides also reviewed the outcomes of Korea’s first approved international greenhouse gas reduction project in the industrial sector, which was finalized in 2025 with the Cambodian government’s approval. They agreed to strengthen cooperation in future industries, including green technology, building on Cambodia’s commitment to carbon reduction and Korean companies’ technological capabilities. MOTIR will continue working with Cambodia to expand bilateral exchanges and support Korean companies seeking to enter and operate in the Cambodian market. date2026-06-15

Korea and Bangladesh to Hold Fourth Round of CEPA Negotiations

Korea and Bangladesh will hold the fourth round of official negotiations toward a Comprehensive Economic Partnership Agreement (CEPA) in Dhaka from June 14 to 19, 2026. The talks come amid a growing need to expand into promising emerging markets and diversify Korea’s export destinations in response to the rapidly changing global trade environment. The Office of Trade Negotiations at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that around 60 delegates from the two countries will attend the negotiations. Korea’s delegation will be led by Park Geun-oh, Director General for Trade Agreement Policy at MOTIR, while Bangladesh’s delegation will be led by Ayesha Akther, Additional Secretary and Head of the Foreign Trade Agreement Wing at the Ministry of Commerce. Since declaring the launch of negotiations in November 2024, the two countries have held three official rounds of talks. In Dhaka, they plan to continue detailed discussions across 11 areas, including tariff concessions, services, and rules of origin, with the aim of building a solid basis for concluding the agreement. Bangladesh is one of South Asia’s key growth markets, with a population of 170 million and a high rate of economic growth. A CEPA with Bangladesh is expected to help Korean companies broaden their export base. As the Bangladeshi government is actively expanding national infrastructure, including power, roads, and aviation, the agreement is also expected to create more opportunities for Korean construction and engineering companies. Bangladesh is scheduled to graduate from least developed country (LDC) status in November 2026 and is pursuing market-opening policies, including accession to the Regional Comprehensive Economic Partnership (RCEP) and free trade agreements with major partners. “Bangladesh is a key South Asian market, with average annual growth of more than 6 percent. A CEPA with Bangladesh is expected to expand Korean companies’ access to the South Asian market,” said Director General Park. “Korea will take a proactive approach to the negotiations so the talks can make swift progress.” date2026-06-15