Ministry of Trade Industry and Resources

Korea’s ICT Exports Extend Growth Streak in October

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Science and ICT (MSIT, Minister Bae Kyung-hoon) announced on November 14 that Korea’s ICT exports in October 2025 rose 12.2 percent year-on-year to USD 23.3 billion, the highest October figure on record. Imports fell 2.9 percent to $13.0 billion, resulting in a $10.4 billion surplus. ICT exports grew for the ninth consecutive month despite fewer working days and global trade uncertainty, driven by strong semiconductor performance. Semiconductor exports increased 25.4 percent as DRAM and NAND prices continued to rise and demand for high-value memory for AI servers remained strong. Communication equipment exports also rose 2.5 percent on higher demand from Vietnam and India. Displays (down 8.8 percent), mobile phones (down 11.8 percent), and computers/peripherals (down 1.0 percent) declined. Display exports fell on lower unit prices, mobile phone exports weakened due to reduced component shipments to China, and computers/peripherals narrowed their decline as SSD demand improved. By destination, exports increased to China including Hong Kong (up 4.9 percent), Vietnam (up 3.8 percent), the EU (up 29.2 percent), and the United States (up 5.8 percent), while exports to Japan fell 4.6 percent. ICT imports fell 2.9 percent to $13.0 billion, driven by declines in mobile phones and displays, while imports of GPUs and mid-to-large-scale computers continued to rise on expanding AI infrastructure demand. date2025-11-14

Korea’s Bioindustry Sees Growth in 2024: Production Up 9.8%, Exports Up 17.1%, Investment Up 46.1%

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Korea Biotechnology Industry Organization (KoreaBIO, President Ko Hansung) announced the results of the 2025 Bioindustry Survey (Based on 2024 Data), which covers the status of production, trade, employment, and investment in Korea’s bioindustry. Conducted under Article 3 of the Statistics Act, the survey is a national statistical report released annually by MOTIR through KoreaBIO, based on the previous year’s bioindustry performance. As biotechnology expands beyond pharmaceuticals and food into broader industrial applications and daily life, ushering in the era of the bioeconomy, this survey provides valuable insight into the scale of Korea’s biotechnology-based economy. According to the findings, Korea’s bioindustry production reached KRW 22.9 trillion, marking a 9.8 percent increase from the previous year and signaling a recovery in growth. Bioindustry exports rose 17.1 percent year-on-year, driven by increased shipments of major products such as antibody drugs and biopharmaceutical contract manufacturing (CMO) services, which in turn boosted overall production. Investment also surged, with R&D spending up 3.2 percent and large-scale facility investment up 145.3 percent, resulting in a 46.1 percent increase in total investment. Choi Woo-hyuk, Director General for Advanced Industry Policy at MOTIR, stated, “Despite ongoing uncertainty in the global trade environment, Korea’s bioindustry is regaining momentum. We will continue to strengthen support for companies’ efforts in research and development, production, and export expansion so that the bioindustry can play an even greater role in contributing to the Korean economy and employment.”   date2025-11-13

Korea and Qatar to Strengthen Cooperation in Energy Supply Chains, Plant, and Shipbuilding Sectors

Minister of Trade, Industry and Resources JK (Jung-Kwan) Kim met with Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs of Qatar and CEO of QatarEnergy, in Seoul on Wednesday, November 12. The two ministers discussed ways to strengthen bilateral cooperation, focusing on energy supply chain collaboration. The meeting, arranged during Minister Al-Kaabi’s visit to Korea, provided an opportunity for the two countries to discuss key issues related to energy supply chain stability and exchange views on expanding practical cooperation in the plant construction and shipbuilding sectors. Both ministers commended the longstanding partnership between Korea and Qatar in the liquefied natural gas (LNG) sector, which has helped maintain a stable supply chain. They also discussed Qatar’s ongoing plans to expand LNG production and shared perspectives on broadening cooperation across industrial and resource-related fields, including stable energy supply. Recognizing the close interconnection between LNG trade and related industries such as plant construction and shipbuilding, the two countries agreed to further strengthen mutually beneficial cooperation in these areas. MOTIR stated that this meeting with Qatar’s top energy official served as a meaningful opportunity to reinforce energy supply chain stability and expand practical cooperation in key industrial sectors. The ministry added that it will continue to strengthen high-level dialogue channels with Qatar and pursue concrete project-based partnerships in LNG, plant construction, and shipbuilding. date2025-11-13

K-Fashion, Food, and Beauty Industries to Drive the Next Phase of K-Exports

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Trade Minister Yeo Han-koo visited MUSINSA Standard Seongsu, a leading K-fashion retailer, on Wednesday, November 12, to examine the current status of K-fashion exports. He also held a roundtable with representatives from major retail and distribution companies, including MUSINSA, Delivered Korea, Coupang, CJ Olive Young, and Kurly, to discuss industry challenges and strategies for expanding exports of K-consumer goods. The visit and discussions were organized to explore ways to promote consumer goods exports through experienced retail platforms amid the global rise of K-culture and growing demand for K-consumer products. MOTIR plans to strengthen support for fostering K-consumer goods industries as new growth engines for exports. First, the ministry will promote premium branding of K-consumer goods by enhancing marketing efforts linked to the Korean Wave. It plans to expand promotional opportunities through major events such as K-pop concerts and the Korea Brand & Entertainment Expo (KBEE) while allowing trend-setting retail platforms to take the lead in planning and executing marketing initiatives. Second, MOTIR will work to resolve export challenges related to logistics, certification, and intellectual property rights. In cooperation with KOTRA’s overseas trade offices, the ministry will provide tailored logistics infrastructure for consumer goods and expand consulting and information services on foreign certifications, such as halal standards. Lastly, the ministry will support the expansion of direct-to-consumer (D2C) exports through online platforms. It aims to help Korean retailers grow into global platforms by assisting with the establishment and promotion of global online malls, as well as supporting partnerships with local logistics providers, and facilitating customs clearance and certification procedures. Trade Minister Yeo stated, “Our retail platforms serve as a key bridge connecting K-consumer goods with overseas consumers. As capable Korean retailers expand globally, more products from Korean SMEs are reaching customers worldwide. To further establish K-exports as a new growth engine, MOTIR will incorporate today’s discussions into the upcoming ‘Plan to Expand Exports of K-Consumer Goods Linked to the Korean Wave,’ which will be announced later this year.” date2025-11-13

ASML Completes Hwaseong Campus, Strengthening Cooperation in Advanced Semiconductor Technology

Kang Gam-chan, Director General for Trade and Investment at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), attended ASML’s “Hwaseong Campus Opening Ceremony” held on Wednesday, November 12, in Hwaseong-si, Gyeonggi-do. ASML, a leading global semiconductor equipment company based in the Netherlands, exclusively manufactures extreme ultraviolet (EUV) lithography equipment—essential for ultra-fine semiconductor processing—and supplies it to major companies worldwide, including Samsung Electronics, SK hynix, and TSMC. The newly completed ASML Hwaseong Campus serves as the company’s key hub in Asia, integrating a remanufacturing center for advanced equipment components such as DUV and EUV lithography systems, along with a training center for advanced technology transfer. The campus is expected to enhance supply chain stability in Korea’s semiconductor industry and advance technology localization. Furthermore, ASML plans to use the campus to strengthen technical cooperation and knowledge exchange with Korean semiconductor firms such as Samsung Electronics and SK hynix, while building an ecosystem linking Korea’s materials, parts, and equipment companies—thereby advancing a mutually beneficial cooperation model with Korea’s semiconductor industry. In his congratulatory remarks, Director General Kang emphasized that “foreign investment is a key driver of Korea’s economic innovation and growth.” He added, “The government will continue to foster a favorable investment environment for global companies by expanding cash grants, enhancing location and tax incentives, and improving regulations.” He further noted, “Close cooperation among local governments, the central government, and partner countries is crucial for the advancement of Korea’s semiconductor industry. Today’s opening ceremony is an excellent example of such collaboration.” He concluded, “I hope that cooperation and investment in the semiconductor industry between Korea and the Netherlands will continue to deepen in the future.” date2025-11-13

Korea to Strengthen Global Competitiveness in Nanotechnology Standards

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) announced that, in cooperation with the Korea Carbon Industry Promotion Agency and the Korea Research Institute of Standards and Science, it will host the 2025 ISO/TC 229 (Nanotechnologies) Plenary Meeting from Monday, November 10, to Friday, November 14, at Songdo ConvensiA in Incheon. ISO/TC 229, a technical committee under the International Organization for Standardization (ISO), develops international standards for nanotechnologies applied across cutting-edge industries such as biotechnology, displays, and quantum technology. This year marks the 20th anniversary of the committee’s establishment. The plenary meeting will bring together about 100 participants from more than 20 countries, including the United Kingdom, Germany, the United States, Japan, and China, as well as Korean industry and academic experts, to discuss global standardization issues related to nanotechnology measurement standards, health and safety, and sustainability. Korea is currently leading the development of ten international standards in areas including nanomaterial particle characterization, nanoproduct applications, and health and safety assessments of nanotechnologies. KATS expects that hosting this plenary meeting will increase the likelihood of the ten Korea-proposed standards being adopted as formal international standards, thereby strengthening the global competitiveness of Korean companies utilizing nanotechnology—including those in the display, future mobility, and biotechnology sectors. President Kim Dae-ja stated that KATS will continue to expand the development of international standards and Korean Industrial Standards (KS) in the nanomaterials sector to enhance Korea’s competitiveness in advanced industries, while also contributing to industrial development in health- and safety-related fields. date2025-11-10

Korea and the UK Hold Sixth Round of FTA Upgrade Negotiations

Amid growing calls to pursue proactive trade policies to overcome global trade uncertainty and strengthen Korea’s export-driven economy, the sixth round of negotiations to upgrade the Korea–UK Free Trade Agreement (FTA) is being held in Seoul from Monday, November 10, to Friday, November 14. The Office of Trade Negotiations under the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that delegations comprising around 60 officials from both countries will participate in the discussions, led respectively by Kwon Hye-jin, Director General for Trade Negotiations at MOTIR, and Adam Fenn, Deputy Director at the UK Department for Business and Trade, as chief negotiators. Following the United Kingdom’s withdrawal from the European Union (Brexit), Korea and the UK signed the Korea–UK FTA, which took effect in 2021, based on the Korea–EU FTA. Since launching the first round of upgrade negotiations in January 2024, the two sides have held five official rounds and multiple intersessional meetings aimed at easing strict rules of origin, expanding bilateral trade and investment, and establishing a future-oriented cooperation framework to address supply chain disruptions. The sixth round will focus on remaining issues related to services and investment. Trade Minister Yeo Han-koo, who visited the negotiation venue to encourage both delegations, stated, “The upgraded Korea–UK FTA will serve as a modern, comprehensive agreement encompassing not only additional market access but also emerging trade issues such as supply chain resilience and digital trade norms.” He urged the negotiators to make every effort to reach consensus on the remaining issues and conclude the negotiations as swiftly as possible.   date2025-11-10

K-Consumer Goods Take Center Stage in New York as Korean Wave Captivates the U.S.

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Ki) and the Korea Trade-Investment Promotion Agency (KOTRA, President and CEO Kang Kyung Sung) held the “Korea Brand & Entertainment Expo (KBEE) 2025 NEW YORK” from November 6 to 8 at the American Dream Mall in New Jersey. Now in its 25th edition, the KBEE leverages the growing global popularity of the Korean Wave to promote Korea's promising consumer goods and services, support their entry into overseas markets, and enhance brand recognition. This year’s edition—the first-ever KBEE held in North America—was designed to expand the global reach of K-consumer goods and provide small and medium-sized enterprises (SMEs) with more opportunities to engage directly with local consumers and buyers by linking K-culture and lifestyle products. The KBEE 2025 NEW YORK brought together 335 companies from Korea and abroad and attracted approximately 20,000 visitors over three days. About 100 Korean companies specializing in premium consumer goods—including K-beauty, food, and fashion—held export consultations with 235 buyers from North America and Latin America. The opening ceremony was attended by Lee Sang-ho, Acting Consul General of the Republic of Korea in New York, and KOTRA President Kang Kyung Sung. The event featured celebratory performances and fan events with Hallyu ambassadors Ha Ji-won, Taemin, and Hwasa, further heightening the excitement. With K-content’s soaring popularity in the United States, demand for K-consumer goods continues to grow rapidly. In 2024, K-beauty ranked first among imported cosmetics in the United States, while exports of K-food—led by products such as ramen and dried seaweed—increased by an annual average of 10 percent over the past decade, establishing a strong foothold in the local market. MOTIR strategically leveraged the KBEE to support the overseas expansion of various Korean consumer goods and content, including K-food, K-beauty, and K-merchandise. To expand retail entry and sales, the ministry also organized O2O-based showcases in collaboration with major local distribution networks. In addition, MOTIR plans to hold another KBEE in Kuala Lumpur, Malaysia, in December to further diversify export markets for K-consumer goods. A MOTIR official stated, “The export strategy connecting K-culture and K-consumer goods in North America has created meaningful momentum for SMEs seeking to expand overseas. We will continue to diversify export markets through events such as the New York and upcoming Malaysia KBEEs, and strengthen policy support to help K-consumer goods grow into global brands.”   date2025-11-10