Ministry of Trade Industry and Resources

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

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

Korea and Germany Advance Industrial Data Cooperation to Accelerate Manufacturing AX

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that it co-hosted the 2nd Korea–Germany Industrial Data Space Forum on Thursday, October 23, at the Nine Tree Premier ROKAUS Hotel in Yongsan, Seoul, together with Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWE). The event brought together around 100 experts from industry, academia, and research, including representatives from the Korea Institute for Advancement of Technology (KIAT), the Korea Industrial Complex Corporation (KICOX), and AI solution companies. Overview of the 2nd Korea–Germany Industrial Data Space Forum Date/Venue: October 23, 2025 (Thu), 09:15 / Nine Tree Premier ROKAUS Hotel, Yongsan, Seoul Host/Organizer: MOTIR / KIAT Key Participants: [Korea] MOTIR (including the Korean Agency for Technology and Standards), KIAT, KICOX; [Germany] BMWE, Embassy of Germany in Korea, and organizations related to Manufacturing-X Main Agenda: Sharing of Korea–Germany industrial data utilization cases, policy cooperation discussions among MOTIR, KIAT, and KICOX, and consultations on the Korean Manufacturing-X initiative. Following the first forum held in October 2024, this year’s event was organized to discuss bilateral cooperation strategies and share best practices as the Korean government plans to include the “Industrial Data Space Standard Model Project” in the 2026 national budget. To drive manufacturing digital transformation (AX) by integrating AI across manufacturing processes and the entire upstream and downstream value chains, collecting and utilizing reliable industrial data is crucial. Reflecting this need, MOTIR signed an MOU with ten major industry associations at the 1st Industrial AI EXPO on September 3 to establish a voluntary data-sharing framework among companies. At the forum, participants discussed strategies for building industrial data spaces tailored to Korea’s industrial environment to enable manufacturing data sharing across key sectors. They also explored standardization and interoperability between Korean and German data spaces. Korean companies presented their technologies and pilot cases in industrial data space development, while the German side introduced the progress and best practices of Catena-X, the automotive industry’s leading data space initiative. Kang Kam-chan, Director General for Industrial Policy at MOTIR, stated, “If Korea can leverage Germany’s experience and expertise gained from successfully implementing Catena-X to build an industrial data ecosystem suited to our industries, it will greatly benefit Korean manufacturers. We will continue regular cooperation with Germany, a global leader in industrial data spaces, to jointly build a global industrial data ecosystem through strong public–private collaboration.”   date2025-10-23

K-Semiconductors in the AI Era Anticipate Record Exports; Industry Leaders Gather for Semiconductor Day

Vice Minister of Trade, Industry and Resources Moon Shin-hak attended the 18th Semiconductor Day ceremony held at the Grand InterContinental Seoul Parnas on Wednesday, October 22, where he presented government awards to individuals who contributed to the advancement of Korea’s semiconductor industry. The ceremony brought together about 550 representatives from industry, academia, and research, including Song Jaihyuk, Chairman of the Korea Semiconductor Industry Association (KSIA) and President of Samsung Electronics’ Device Solutions Division, and Kwak Noh-Jung, CEO of SK hynix. In his opening remarks, Chairman Song stated, “As AI adoption accelerates and demand for advanced semiconductors grows, Korea’s semiconductor exports are expanding rapidly, drawing global attention to the competitiveness of K-semiconductors.” He emphasized that amid technological paradigm shifts such as AI and quantum computing, semiconductors are a national strategic asset, and that this is a critical window of opportunity for proactive investment, talent development, and infrastructure expansion. In his congratulatory address, Vice Minister Moon noted, “Semiconductor exports are projected to exceed USD 165 billion this year, achieving an all-time high for the second consecutive year. As we enter the AI era, Korea’s semiconductor industry will continue to strengthen its leadership in memory semiconductors while narrowing the competitiveness gap with advanced economies in areas such as system semiconductors, fabless, and materials, parts, and equipment. The government will remain steadfast in fostering semiconductors and other high-tech industries.” As of September, semiconductor exports totaled USD 119.7 billion, and are on track to reach another record high following 2024. Semiconductors accounted for 23 percent of Korea’s total exports of USD 519.7 billion through September, maintaining their position as the country’s top export category. During the ceremony, a total of 83 individuals were recognized for their contributions to the semiconductor industry and to cooperation between large and small businesses. The recipients included SK hynix CEO Kwak Noh-jung, who received the Gold Tower Order of Industrial Service Merit, along with one recipient of the Silver Tower, one of the Bronze Tower, three Industrial Service Medals, three Presidential Citations, four Prime Minister’s Citations, 40 MOTIR Minister’s Citations, and 30 KSIA Chairman’s Awards.   date2025-10-23