Ministry of Trade Industry and Resources

Republic of Korea and Japan Strengthen Collaboration on Critical Mineral Supply Chains

The Republic of Korea and Japan are accelerating cooperation to stabilize sustainable supply chains between producer and consumer countries, amid growing instability in the global supply chain for critical minerals. In line with these efforts, the Ministry of Trade, Industry and Resources (hereinafter ‘MOTIR’) held the ‘2nd ROK-Japan Mineral Resources Cooperation Dialogue’ with Japan's Ministry of Economy, Trade and Industry (hereinafter ‘METI') at the Lotte Hotel in Seoul on December 17. Korea and Japan have developed similar industrial frameworks that are focused on advanced manufacturing sectors, such as semiconductors, batteries, and materials and components. Both countries are significant consumers of critical minerals and, as such, rely substantially on imports to fulfill their domestic requirements. In light of the recent segmentation of critical mineral supply chains—particularly between the United States and China—and the enhanced collaboration among producing countries, there is growing recognition of the importance of fostering international cooperation that reflects the perspectives and interests of consuming countries. In celebration of the 60th anniversary of diplomatic relations between Korea and Japan, both countries have recognized the importance of securing global critical mineral supply chains as a pivotal area for collaboration. In this spirit, they convened the inaugural ROK-Japan Mineral Resources Cooperation Dialogue in February of this year, reaffirming their commitment to joint efforts in this essential sector. At that time, the two countries discussed comprehensive cooperation measures, including △joint procurement of critical minerals and △stockpiling cooperation, and agreed to hold this dialogue regularly. Since then, both countries have jointly responded to policy uncertainties by continuing engagements including bilateral meetings on the sidelines of multilateral conferences. This second meeting was arranged as a follow-up to review the outcomes of cooperation over the past year and to deepen collaboration further. At this meeting, the two countries focused on discussing: △ Responding to low copper TC/RC situation, △ Strengthening cooperation within multilateral consultative bodies such as the G7 and the Mineral Security Partnership (MSP), and △ Exploring ways to initiate joint critical mineral development and production projects in third country destinations. A particularly noteworthy aspect of the discussion was the recent rise in copper prices alongside the prevailing instability in the supply of copper concentrate. Both countries underscored the importance of strengthening their collaboration and establishing tangible measures to stabilize global copper supply while promoting sustainable co-prosperity between mining operations and smelters. MOTIR stands ready to facilitate ROK-Japan joint projects, particularly in Latin America, Asia, and Africa, where Korean companies can either expand their engagement or enter into new projects. MOTIR aims further to enhance cooperation with Japan and other like-minded countries to establish a more stable supply chain for critical minerals. It will also actively pursue collaborative models that allow both producing and consuming countries to thrive together in the global critical minerals market. date2025-12-18

Korea and the EU Launch Efforts to Operationalize Supply Chain and Economic Security Partnership

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Denis Redonnet, Deputy Director-General of the European Commission’s Directorate-General for Trade and Economic Security, in Seoul on Wednesday, December 17. As the EU’s top trade enforcement official, Deputy Director-General Redonnet oversees key trade agendas, including free trade agreements, trade remedies, and economic security. The meeting followed the December 2 meeting between Trade Minister Yeo Han-koo and European Commissioner for Trade and Economic Security Maroš Šefčovič and was held to discuss the implementation of the Korea–EU Next Generation Strategic Dialogue agreed at that time, as well as ways to strengthen cooperation on economic security, supply chains, and technology. Deputy Minister Park noted that growing protectionism, intensifying technological competition, and disruptions in global supply chains are increasing uncertainty in the global economy. He stated that economic security alliances and strategic coordination among like-minded countries are emerging as key drivers of competitiveness. While underscoring that Korea and the EU have grown together on the basis of free trade, he emphasized the need to further strengthen cooperation to develop the bilateral partnership into a future-oriented one encompassing economic security and advanced industries. Against this backdrop, the two sides welcomed the elevation of the ministerial-level Korea–EU FTA Trade Committee, which previously focused on goods and services, into the Next Generation Strategic Dialogue on Trade, Supply Chains, and Technology, as agreed during the trade ministers’ meeting on December 2. They shared the view that this dialogue framework would enable more comprehensive and higher-level cooperation and agreed to work closely toward holding its first meeting in the first half of 2026. The Korean side also conveyed the concerns and requests of Korean companies regarding key industrial issues, including steel, nuclear power, and batteries, and called for the EU’s active cooperation. On steel, the Korean side expressed concerns over the EU’s plan to introduce new steel import measures and emphasized the need to secure the maximum possible export allocation for Korean steel products. Regarding the EU’s Foreign Subsidies Regulation (FSR) investigation related to the Czech nuclear power project, the Korean side emphasized that Korea Hydro & Nuclear Power was selected through a transparent and fair bidding process in compliance with EU rules and reaffirmed that no subsidies inconsistent with market principles were provided, requesting that the investigation be conducted fairly and reasonably. On batteries, the Korean side requested that the EU support expanding demand for EV and ESS batteries produced within the EU, consider including the battery industry in the Energy Intensive Industry sector, and advance the delayed follow-up legislation under the Battery Regulation promptly and predictably. The Korean side also welcomed the European Commission’s efforts to simplify the Carbon Border Adjustment Mechanism (CBAM), positively noting that recent revisions reflected Korea’s concerns, including the partial easing of certification requirements and the introduction of exemption criteria for SMEs. It called for continued bilateral communication to ensure that the mechanism becomes more reasonable and predictable. Based on the meeting outcomes, the two sides agreed to operate a standing communication channel on key trade issues to ensure that the Korea–EU Next Generation Strategic Dialogue delivers tangible outcomes. date2025-12-18

Korea and the UK Conclude Upgrade Negotiations for the Korea–UK Free Trade Agreement

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and Sir Chris Bryant, Minister of State at the United Kingdom’s Department for Business and Trade, met in London on Monday, December 15, and signed a joint declaration confirming the conclusion of the Korea–UK Free Trade Agreement (FTA) upgrade negotiations. Key Developments Following the UK’s decision to withdraw from the European Union (Brexit), Korea and the UK first concluded the Korea–UK FTA in 2021—on terms identical to the Korea–EU FTA, which entered into force in 2011—to ensure continuity in trade and investment and to maintain a stable and predictable business environment. In line with a provision of the original agreement calling for follow-up negotiations within two years of its entry into force, the two sides have held six rounds of upgrade negotiations and five rounds of trade ministers’ meetings, along with multiple intersessional meetings, since January 2024. At a bilateral meeting held on the margins of the G7 Summit in Canada in June, the leaders of Korea and the UK agreed to accelerate talks to conclude the FTA upgrade negotiations within the year. After outstanding issues were resolved through additional discussions on services and investment held this month, the two sides formally declared the negotiations concluded at the trade ministers’ meeting in London. Significance and Assessment of the Korea–UK FTA The UK is the world’s sixth-largest economy and Europe’s second-largest by nominal GDP. It is also a global hub for finance and investment, accounting for the largest shares of international bank lending and foreign exchange transactions worldwide. However, bilateral trade volumes and Korea’s exports to the UK rank only around 20th globally, underscoring the need to enhance market access through the upgrade negotiations. The revised Korea–UK FTA is expected to expand bilateral trade by easing the stringent rules of origin for Korea’s key export products and by further opening the UK’s high-speed rail procurement market and major service markets. It also reflects a broad range of new trade rules aimed at expanding exchanges and cooperation across diverse areas. Trade Minister Yeo emphasized that “the upgraded Korea–UK FTA will strengthen the free-market system in a trade environment with heightened uncertainty. In particular, it will be an opportunity to enhance economic cooperation ties with the UK, a key partner in Europe.” He further noted that “the upgraded Korea–UK FTA has established a considerable number of comprehensive cooperation norms, including market liberalization, digital trade, and cooperation for supply chains stabilization, to strengthen the Korea–UK trading relationship.” Minister Bryant remarked, “Korean culture has taken off in the UK, with millions of Brits already binge-watching great Korean TV and streaming K-pop artists. Today’s agreement boosts the UK’s world-class services sector and supports iconic brands to speed up our economic growth.” Next Steps Following the declaration of the conclusion of the negotiations, the government will promptly complete the procedures required for formal signature, including legal review and Korean-language translation of the agreement text. After the formal signature, it will move forward with the steps necessary for the agreement’s entry into force, including an economic impact assessment and securing the National Assembly’s consent to ratification. date2025-12-17

Korea and Norway Discuss Ways to Build a Practical Partnership in Response to Changes in the Trade Environment

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Ragnhild Sjoner Syrstad, State Secretary at Norway’s Ministry of Trade, Industry and Fisheries, at Lotte Hotel in Seoul on Tuesday, December 16, 2025, to discuss ways to strengthen substantive bilateral cooperation between Korea and Norway in response to recent changes in the global trade environment. The two sides shared the view that rising protectionism and the weakening of the World Trade Organization (WTO) system have increased uncertainty in global trade, underscoring the importance of closer cooperation between Korea and Norway to stabilize supply chains and enhance industrial competitiveness. They agreed to continue discussions on building a practical partnership that can deliver tangible outcomes. The two sides also welcomed the resumption of the Korea–Norway Economic Cooperation Committee (KNECC), a private-sector consultative body that had been suspended since 2016, noting that its revival after a decade has strengthened the foundation for business-to-business exchanges and the development of joint projects. They agreed to expand government-level support and to pursue more concrete cooperation models and project-based MOUs based on corporate demand. Deputy Minister Park stated, “Building on the complementary industrial structures of Korea and Norway, bilateral trade has expanded both in scale and in quality since the FTA’s entry into force.” He noted that “practical cooperation is already advancing in the shipbuilding sector, particularly in areas such as autonomous navigation and AI-based future ship technologies,” emphasizing that “combining Korea’s strengths in manufacturing and ICT with Norway’s maritime and energy technologies could generate significant synergies.” He added that “Korea hopes to further expand bilateral cooperation into advanced industries, including the green transition and critical supply chains.” date2025-12-17

MOTIR Reviews Agenda Items for the Successful Convening of the 14th WTO Ministerial Conference

Director General for Trade Negotiations Kwon Hye-jin of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) will serve as Korea’s chief representative at the World Trade Organization (WTO) Senior Officials Meeting (SOM) to be held in Geneva, Switzerland, from Monday, December 15 to Wednesday, December 17. The SOM is convened approximately three months prior to the 14th WTO Ministerial Conference (MC14), scheduled for March 2026 in Cameroon. The meeting will bring together senior officials from WTO members to review the MC14 agenda, identify key deliverables, and engage in high-level consultations on current WTO issues.  Director General Kwon will also participate in the WTO General Council to discuss ways to achieve outcomes on MC14’s key agenda items, including WTO reform; the incorporation of the Agreement on Electronic Commerce; the extension of the moratorium on customs duties on electronic transmissions; and the incorporation of the Investment Facilitation for Development (IFD) Agreement into the WTO system. Additionally, she will hold in-depth consultations with WTO members on major WTO issues, such as the continued development of the Industrial Policy Dialogue. On the margins of the meeting, Director General Kwon will meet with representatives of key trading partners, including South Africa and the European Union, to advance cooperation on the accession and expansion of the IFD Agreement, which Korea co-chairs with Chile. MOTIR underscored the importance of restoring the WTO’s functions to ensure a predictable trade and investment environment and reaffirmed its commitment to working closely with relevant ministries to deliver meaningful outcomes at the MC14. date2025-12-16

MOTIR Reviews Request for Additional Designation of Ganghwa Southern District in Incheon Free Economic Zone

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the 146th Free Economic Zone (FEZ) Committee on Monday, December 15. During the meeting, MOTIR reported a request for the additional designation of the Ganghwa Southern District within the Incheon FEZ, and the Committee deliberated and approved an amendment to the development plan for the Sindae Hinterland Complex of the Gwangyang Bay Area FEZ, including a revision of the project period. Under the Special Act on Designation and Management of Free Economic Zones, local governments seeking free economic zone designation are required to submit a development plan to MOTIR. The ministry then reports the request to the FEZ Committee and, following consultations with relevant ministries and expert evaluations, makes a final determination through the Committee’s deliberation and resolution. Incheon plans to develop the Ganghwa Southern District into a globally recognized advanced industrial city that integrates future technologies with regional resources. The plan leverages local agri-food and marine specialties, as well as the area’s cultural and natural assets and international airport infrastructure, to foster new growth engines in advanced industries and cultural tourism—including bio, physical AI, and integrated tourism—while establishing a strategic foothold to respond to the reorganization of global supply chains. The proposed amendment to the development plan for the Sindae Hinterland Complex extends the project period through 2026 to ensure smooth implementation of follow-up projects and adjusts the project area to reflect finalized land survey results. Je Kyung-hee, Director-General of the Free Economic Zone Planning Office, stated that “the Committee will actively reflect the views of local governments and, in close consultation with experts and relevant ministries, develop tailored development strategies to ensure that free economic zones evolve as key hubs for foreign investment attraction and regional development.” date2025-12-16

K-Trade Opens New Pathways

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Korea International Trade Association (KITA) held the 62nd Trade Day Ceremony at COEX in Seoul on Thursday, December 4, with around 1,000 attendees, including trade-merit honorees and leaders from government ministries and related institutions. 2025 Export Performance and Evaluation Despite numerous challenges, Korea’s exports are on track to reach an all-time high, recording USD 640.2 billion from January to November this year. Following the launch of the new administration, exports recorded six consecutive months of growth as uncertainties eased, reflecting a positive “slow start, strong finish” trajectory. Korea’s export growth this year has been driven by strong competitiveness in key manufacturing sectors such as semiconductors, automobiles, ships, and bio industries. K-consumer goods, including K-food and beauty products, as well as defense exports, have also performed strongly amid the global spread of Korean culture. Export destinations have diversified beyond the traditionally concentrated U.S. and Chinese markets, expanding into ASEAN, the EU, and other regions. The export base has also broadened, with the number of exporting SMEs reaching 89,000 cumulatively in the first three quarters—an all-time high—and SME export value rising to USD 87.1 billion, also marking a record high. Minister Kim Jung-kwan stated, “This year’s achievements were made possible by the combination of our industrial competitiveness and strong export commitment, symbolizing the resilience and robustness of our economy and export sector.” He added, “Going forward, we will strive not only to surpass the all-time export record but also to open new pathways for Korean trade through industrial innovation and K-culture—and to ensure that the benefits of export growth extend to SMEs, local communities, and workers across the country.” 62nd Trade Day Ceremony and Awards Held under the slogan “K-Trade Opens New Pathways,” the 62nd Trade Day Ceremony included an opening video, welcome remarks by the KITA Chairman, a theme video, the awards ceremony, congratulatory remarks by the Prime Minister, and a commemorative program. This year, 598 individuals received government commendations, and 1,689 companies were awarded Export Towers in recognition of their contributions to Korea’s export growth. To acknowledge the exceptional role played by trade professionals during a year of rising global uncertainty—yet record-high export performance—the government awarded one additional Silver Tower Order of Industrial Service Merit, following last year’s expansion of the Gold Tower Order of Industrial Service Merit. Government commendations and Export Towers for individuals and companies who excelled in new-market development and expanding Korea’s export base were presented on-site during the ceremony. This year’s award-winning companies showcased several notable trends: First, companies in core industries such as semiconductors and automobiles reaffirmed their resilience regardless of the situation. The Gold Tower Order of Industrial Service Merit was awarded to a semiconductor inspection equipment manufacturer expanding exports through strong technological capabilities and growing AI chip demand, as well as to an automaker diversifying its export market through manufacturing innovation and competitive product quality. The highest honor—the USD 35 billion Export Tower—was awarded to a leading HBM semiconductor company.  Second, shipbuilding and defense companies posted significant growth, further broadening Korea’s export portfolio. Major Export Towers (USD 4 billion, USD 600 million) were awarded to shipbuilders advancing the transition to eco-friendly vessels, and a Silver Tower Order of Indust date2025-12-16

Korea and African Countries Discuss Ways to Expand Trade and Industry Cooperation

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the “2025 Korea–Africa Trade and Industry Cooperation Forum” on Monday, December 15, 2025, in Seoul. The forum brought together approximately 100 participants, including Park Jung-sung, Deputy Minister for Trade; Kim Young-chae, President of the Korea–Africa Foundation (KAF); Chafik Rachadi, Dean of the African Group of Ambassadors in Korea (AGA) and Ambassador of Morocco to Korea; ambassadors from 12 African countries; and representatives from industry and academia. The forum reviewed the outcomes of economic cooperation with Africa—an emerging hub for production, logistics, and resource supply chains, supported by its young population and abundant resources—against the backdrop of a rapidly evolving global trade environment marked by growing protectionism and supply chain restructuring, and discussed ways to strengthen momentum for future cooperation. Participants also assessed the results of a series of economic cooperation events that MOTIR and KOTRA held across major African countries by region in November, in connection with the G20 Summit held for the first time on the African continent, and discussed ways to further concretize cooperation. In his welcome remarks, Deputy Minister Park emphasized that “cooperation between Korea and Africa is a wise choice that can turn crises into opportunities and promote shared growth amid challenges in the global trade environment.” He added that “the government will actively pursue trade agreements with African countries while strengthening cooperation in critical minerals and manufacturing supply chains, and expanding infrastructure cooperation in line with local demand in Africa.” At the forum, MOTIR presented Ministerial Commendations to two individuals in recognition of their contributions to trade cooperation with the Middle East and Africa: Kang Munsu, Associate Research Fellow at the Korea Institute for International Economic Policy (KIEP), and Lee So-won, Team Leader at the Federation of Korean Industries (FKI). date2025-12-15