Ministry of Trade Industry and Resources

MOTIR Shapes Blueprint for 5+3 Regional Growth Engines

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the Growth Engine Strategy Forum for the Five Mega-Regions and Three Special Self-Governing Provinces (5+3) framework on June 10, 2026, at the Artificial Intelligence Industry Cluster Agency (AICA) in Gwangju. Chaired by Vice Minister Moon Shin-hak, the forum brought together about 100 regional industry stakeholders from Gwangju and Jeonnam, including local government officials and representatives of anchor companies and regional innovation institutions. The forum gathered views on industries proposed by local governments in each region as regional growth engines under the framework. Participants discussed each region’s industrial conditions and growth potential and explored development approaches tailored to regional strengths. Beginning with the forum for the Southwest region, MOTIR plans to hold similar forums across all regions covered by the framework, excluding the Seoul metropolitan area. Under the framework, the regional growth engine initiative positions each growth engine as a core industry for its region and supports balanced national growth through a more polycentric industrial structure. MOTIR plans to work closely with local governments to facilitate large-scale investment by anchor companies. The government also plans to draw on policy tools across ministries and provide substantial incentives for major regional investment projects through a seven-part support package covering fiscal support, financing, workforce development, infrastructure, and regulatory exemptions. At the forum, experts from the Korea Institute for Industrial Economics & Trade (KIET) presented an analysis of the industries that local governments submitted as candidate growth engines. Participants examined each industry in detail, including regional industrial conditions, corporate investment plans, future growth potential, and alignment with Korea’s national industrial strategy. The Gwangju Institute also presented its assessment of the Southwest region’s industrial landscape and development priorities, followed by a discussion on industrial development priorities for Gwangju and Jeonnam from a regional expert perspective. In a panel discussion moderated by Professor Na Ju-mong, President of the Korean Association of Regional Policy (KARP), panelists from anchor companies, local governments, and regional innovation institutions discussed proposals for developing Gwangju and Jeonnam’s growth engine industries. Kim Hee-sam, Vice President at Kia Corporation, said, “Kia plans to continue investing in its Gwangju Plant as part of the regional growth engine initiative. Policy and financial support from the government will be needed to strengthen the automotive industry ecosystem in the Southwest region.” Kim Young-moon, Gwangju’s Deputy Mayor for Culture and Economy, said, “Gwangju will continue strengthening communication and cooperation between the central and local governments to support the success of these growth engines.” In his opening remarks, Vice Minister Moon said, “This forum will mark the first step in reshaping the geography of Korea’s industrial growth around a polycentric structure built on the Five Mega-Regions and Three Special Self-Governing Provinces.” He added, “MOTIR will identify and develop high-potential growth engines that build on each region’s strengths. We will use every available policy tool to help each region build a self-sustaining, competitive industrial ecosystem.” After consulting regions under the framework, MOTIR plans to select growth engines for each region and announce a seven-part policy support package to develop them into globally competitive industries. The package will cover fiscal support, tax incentives, financing, workforce development, technology support, infrastructure, and regulatory exemptions. date2026-06-10

MOTIR Reviews Economic Cooperation Projects with Uzbekistan Ahead of 1st Korea-Central Asia Summit 2026

Bae Jun-hyoung, Director General of MOTIR’s Bureau of International Trade Relations, visited Tashkent, Uzbekistan, and met with Uzbek government officials, including deputy ministers of the Ministry of Investment, Industry and Trade of Uzbekistan and the Chair of the Fund for Reconstruction and Development of the Republic of Uzbekistan (UFRD). He also held a roundtable with Korean companies operating in Uzbekistan. The visit took place ahead of the 1st Korea-Central Asia Summit, scheduled for Seoul in September 2026, to review key bilateral economic cooperation projects and discuss ways to address business concerns raised by Korean companies operating in Uzbekistan. During the meeting, Director General Bae discussed expanding cooperation with his Uzbek counterparts in critical minerals, AI and digital manufacturing, and industrial complexes. He also requested their continued attention and cooperation to help ensure that bilateral supply chain and advanced industry projects move forward smoothly. Director General Bae also held a luncheon roundtable with Korean companies operating in Uzbekistan. He heard their concerns over investment, permits and approvals, and infrastructure, and exchanged views on ways to help them maintain stable operations and improve the investment environment. date2026-06-09

Korea, Kazakhstan Strengthen Economic Cooperation on Supply Chains and Energy

1. Korea-Kazakhstan Economic Joint Committee Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) and Yersaiyn Nagaspayev, Kazakhstan’s Minister of Industry and Construction, held the 11th meeting of the Korea–Kazakhstan Joint Committee on Trade, Economic, Scientific, and Technical Cooperation in Astana, Kazakhstan, on June 8, 2026. Established under the bilateral trade agreement that entered into force in 1992, the Joint Committee is the highest-level consultative body between the Korean and Kazakh governments. Korea’s Minister of Trade, Industry and Resources and Kazakhstan’s Minister of Industry and Construction serve as chief delegates, with relevant ministries and agencies also taking part. The meeting was the first in two years, following the 10th meeting in May 2024. At the meeting, the two sides discussed cooperation across trade and investment, energy and resources, construction, digital affairs and intellectual property, and the environment. On trade and investment, they discussed ways to move toward concluding the Korea-Kazakhstan Comprehensive Economic Partnership Agreement (CEPA) to upgrade bilateral economic cooperation. They also agreed to work together to resolve issues affecting Korean companies operating in Kazakhstan, including in electronics, automobiles, and plant projects, and to support smoother business operations. On energy and resources, the two sides agreed to cooperate to secure stable crude oil imports as the war in the Middle East has increased uncertainty over energy supplies. They also agreed to expand cooperation on building Kazakhstan’s power infrastructure and modernizing aging power plants. On construction, the two sides discussed sharing Korea’s smart city development experience and expanding business participation in Alatau, a new city project the Kazakh government is prioritizing. They also agreed to continue discussions on cooperation between Korean and Kazakh companies in urban air mobility (UAM) as part of the project. The two sides also agreed to continue cooperation on digital affairs and intellectual property, including IP protection and efforts to combat counterfeit goods. On the environment, they discussed international greenhouse gas mitigation projects under the Paris Agreement, water management technologies, forest restoration, and climate action. “Korea and Kazakhstan are broadening cooperation beyond existing areas such as resources, energy, and plant projects into digital and green sectors,” Minister Kim said. “We will continue follow-up consultations on the issues discussed at the Joint Committee and utilize the first Korea-Central Asia Summit, scheduled for September 2026, as an opportunity to further strengthen bilateral economic cooperation.” 2. Meeting with Kazakhstan’s Minister of Energy Minister Kim also met with Yerlan Akkenzhenov, Kazakhstan’s Minister of Energy, and reviewed progress on crude oil imports following the April 2026 visit to Kazakhstan by Kang Hoon-sik, Special Presidential Envoy for Strategic Economic Cooperation. The two sides agreed to continue cooperation to stabilize crude oil supply. They also agreed to support the smooth implementation of the Karachaganak gas processing plant project, which Korean companies secured, and to work together so that the Ekibastuz power plant modernization project can make early progress. MOTIR will further develop the key cooperation tasks identified during the Kazakhstan visit, including energy, plant projects, and smart cities, and continue follow-up consultations to help bilateral economic cooperation lead to tangible results. date2026-06-08

Korea and ASEAN Hold First Official Round of FTA Upgrade Negotiations

Korea and ASEAN will hold the first official round of negotiations to upgrade their Free Trade Agreement (FTA) in Seoul from June 8 to 12, 2026, as they seek to adapt the agreement to shifts in the trade environment, including supply chain realignment and digital transformation. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) said delegations from both sides will attend the talks, with Park Geun-oh, Director General for Trade Agreement Policy at MOTIR, and Alpana Roy, Director-General at Singapore’s Ministry of Trade and Industry, serving as the chief negotiators for Korea and ASEAN, respectively. Following their October 2025 agreement at the Korea–ASEAN Summit to launch the upgrade negotiations, the two sides confirmed the 2026 work plan at the first Joint Committee meeting in April 2026 and agreed to move the talks forward without delay. The first official round will cover 13 areas, including digital trade, critical minerals, and supply chains. The two sides will also hold the second Korea–ASEAN FTA Joint Committee meeting to review progress across the negotiating areas and, if necessary, discuss the direction of negotiations on key issues at the committee level. “This first official round marks the full launch of negotiations to upgrade the Korea–ASEAN FTA,” said Director General Park. “Korea will engage actively in the talks to achieve meaningful progress in areas tied to the future competitiveness of Korean companies, including digital trade, critical minerals, and supply chains.” date2026-06-08

Korea and Mongolia Hold Fifth Round of Official CEPA Negotiations

Amid the reorganization of global supply chains and the growing need to expand economic cooperation with emerging markets, the fifth round of official negotiations for the Korea-Mongolia Comprehensive Economic Partnership Agreement (CEPA) will be held from June 8 to 11, 2026, in Ulaanbaatar, Mongolia. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) said about 40 negotiators from the two countries will attend the fifth round. Korea’s delegation will be led by Kwon Hye-jin, Deputy Minister for Trade Negotiations, while Mongolia’s delegation will be led by State Secretary Batkhuu Idesh of the Ministry of Economy and Development. Korea and Mongolia launched CEPA negotiations in December 2023 and held four official rounds through November 2024, before the talks were temporarily suspended due to circumstances on the Mongolian side. Since March 2026, the two sides have discussed resuming the process, securing momentum to continue the negotiations after a one-year-and-seven-month pause. Korea and Mongolia have highly complementary industrial and trade structures. Korea has manufacturing and technology capabilities, while Mongolia is a resource-rich country with abundant reserves of critical minerals such as lithium, copper, and rare earth elements. Combining these strengths, the two countries are expected to expand bilateral trade and investment and deepen economic cooperation, including on supply chains. During this round, the two sides will hold negotiations across 15 areas, including tariff concessions, services, investment, rules of origin, and economic cooperation. The services discussions will be held by videoconference. The two sides will seek to resolve a wide range of outstanding issues and accelerate progress in the negotiations. “Amid growing uncertainty in the global trade environment, the CEPA with Mongolia will help Korean companies enter emerging markets and strengthen supply chain stability,” Deputy Minister Kwon said. “Through this round, we will seek progress on key issues and lay the groundwork for concluding the negotiations as soon as possible.” date2026-06-08

MOTIR Minister to Visit Kazakhstan, the Middle East, and the Czech Republic to Strengthen Supply Chain and Industrial Cooperation

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) will visit Kazakhstan, Saudi Arabia, Qatar, the United Arab Emirates (UAE), and the Czech Republic from June 7 to 18, 2026. During the visit, Minister Kim will meet with senior officials to review energy and resource supplies and strengthen economic and industrial cooperation. From June 7 to 9, 2026, Minister Kim will visit Astana, Kazakhstan, to convene the 11th Korea-Kazakhstan Joint Commission on Trade, Economic, Scientific, and Technical Cooperation. The two sides will discuss expanding cooperation in energy and resources, digital industries, and green sectors. Minister Kim will also meet with Kazakh government officials, including the Head of the Presidential Administration and the Minister of Energy, to discuss stable crude oil supplies and cooperation on critical minerals and plant projects. After joining the official program for the President’s visit to Europe, Minister Kim will visit Saudi Arabia, Qatar, and the United Arab Emirates (UAE) from June 13 to 16, 2026, as a follow-up to the Middle East visit by the Presidential Special Envoy for Strategic Economic Cooperation. He will meet with senior officials, including ministers responsible for resources and industry, to discuss securing stable supply chains for crude oil, LNG, and other key resources. The talks will also cover country-specific industrial cooperation in manufacturing infrastructure and advanced industries. Minister Kim will then visit the Czech Republic from June 17 to 18, 2026. He will hold the second meeting of the Dukovany Steering Committee, launched in February 2026, to review progress on the Dukovany new nuclear power plant project and discuss next steps. At the third ministerial-level Korea-Czech Supply Chain and Energy Dialogue (SCED), he will also review cooperative projects and joint R&D in advanced industries, including robotics, batteries, and semiconductors. In addition, Minister Kim will attend a Korea-Czech nuclear power business partnership event and visit a robotics testbed at Czech Technical University in Prague to discuss expanding bilateral cooperation in key sectors. “As uncertainty over the recent conflict in the Middle East continues, securing stable energy and resource supplies has become increasingly important,” Minister Kim said. “Through the visits to Kazakhstan and the Middle East, MOTIR will discuss supply arrangements for crude oil, LNG, and other key resources, strengthen cooperation in critical minerals, plant projects, and nuclear power, and support Korean companies in building a stronger foothold overseas.” “MOTIR will support the smooth and successful implementation of the Dukovany new nuclear power plant project, while building on the trust Korea and the Czech Republic have developed through the project to expand cooperation into advanced industries such as robotics, batteries, and future mobility,” Minister Kim added. “We will also help ensure that progress in nuclear power cooperation leads to cooperation in future strategic industries and further deepens the strategic economic partnership between the two countries.” date2026-06-08

Korea and Serbia Conclude Comprehensive Economic Partnership Agreement

Minister for Trade Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and Jagoda Lazarević, Serbia’s Minister of Domestic and Foreign Trade, officially declared the conclusion of negotiations for the Korea–Serbia Comprehensive Economic Partnership Agreement (CEPA) and signed a joint declaration in Belgrade on June 5, 2026. The two countries began pursuing CEPA negotiations following a meeting between their prime ministers in 2023. After launching negotiations in September 2024, they reached an agreement through the first formal round and a series of intersessional discussions. The agreement covers 12 chapters, including Trade in Goods, Rules of Origin, Customs and Trade Facilitation, Intellectual Property, Technical Barriers to Trade (TBT), and Economic Cooperation. Serbia is a key economy in the Western Balkans, with a manufacturing base in sectors such as automobiles and machinery, strong human resources, a location adjacent to the EU, and an extensive FTA network. As rising costs at major production hubs in Eastern Europe have recently drawn attention to Serbia as a new partner for manufacturing and investment, the need has grown for an institutional foundation to expand bilateral trade and investment and to strengthen economic cooperation. The Korea–Serbia CEPA is Korea’s first free trade agreement with a Balkan country. The agreement secures market access for major Korean exports, including semiconductors, electric vehicles, and automotive parts, while creating a stable and predictable business environment for companies from both countries. It eliminates tariffs on more than 90 percent of tariff lines, covering 96 percent of import value for both sides, exceeding the level of liberalization achieved under the China–Serbia FTA, which entered into force in 2024. Trade Minister Yeo Han-koo stated, “The conclusion of the Korea–Serbia CEPA will serve as an opportunity to elevate economic cooperation with Serbia, our key partner in the Western Balkans, to a new level. At a time of rapidly changing global trade conditions marked by the spread of protectionism and the restructuring of global supply chains, this agreement is significant not only because it opens markets, but also because it establishes a platform for cooperation in future industries, including supply chains, energy and minerals, and AI and biotechnology. We will move forward with the necessary follow-up procedures without delay so that businesses and citizens in both countries can begin to experience the benefits of the agreement as soon as possible.” Serbia agreed to eliminate tariffs on semiconductors and electronic products, which had previously been subject to duties of up to 25 percent due to Serbia’s non-participation in the WTO Information Technology Agreement. The CEPA also secures market access for electric and hybrid vehicles and immediately eliminates tariffs on all automotive parts. Tariffs on Korean consumer products, including food and beauty products, will also be eliminated. In addition, improved market access was secured for medical devices, pharmaceuticals, and defense products. The agreement is also expected to strengthen Korea’s supply chain resilience by eliminating tariffs immediately or within five years on key Serbian exports such as lithium, cobalt, nickel, graphite, and rare earth elements, which are essential inputs for advanced industries, including rechargeable batteries and semiconductors. Meanwhile, in exchange for conceding tariffs on corn for feed and processing—which accounts for more than 40 percent of Serbia's exports to Korea—through immediate and 10-year elimination respectively, Korea minimized market liberalization for sensitive agricultural and livestock products, such as rice, natural honey, fruits including strawberries and other berries, meat, and dairy, thereby achieving a mutual date2026-06-05

Korea, Saudi Arabia Strengthen Cooperation on Stable Supplies of Crude Oil and Naphtha, and Plant Projects

Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Mohammed Y. Al Qahtani, Downstream President of Aramco, Saudi Arabia’s state-owned oil company, in Seoul on June 5, 2026. They discussed how to strengthen medium- and long-term resource security cooperation, including stable supplies of crude oil and naphtha, and expand cooperation on plant construction projects. The meeting took place during Al Qahtani’s visit to Korea. As Downstream President, he oversees Aramco’s downstream operations, including refining, petrochemicals, global investment, and trading. Vice Minister Moon expressed deep appreciation to Saudi Arabia for working closely with Korea since President Lee Jae Myung’s Special Envoy for Strategic Economic Cooperation visited the country in April to support stable supplies of key resources, including crude oil and naphtha. He also asked Aramco for continued engagement and cooperation so Korea can secure timely access to essential energy resources in the event of any future supply disruption. The two sides also discussed possible cooperation using strategic petroleum reserves and crude oil storage infrastructure to strengthen both countries’ capacity to respond to resource security risks. They agreed to continue identifying additional areas for cooperation. Vice Minister Moon noted Aramco’s central role in major energy projects in Saudi Arabia, including oil, gas, and petrochemicals. He asked for Aramco’s continued interest and cooperation to expand opportunities for Korean companies with world-class technology and project delivery capabilities to participate in Aramco projects. MOTIR will maintain close channels of communication with Aramco to strengthen cooperation on resource security, including crude oil supplies, and continue supporting Korean companies’ efforts to win plant contracts in the Middle East. date2026-06-05