Ministry of Trade Industry and Resources

11th International Conference on Hydrogen Safety

The Ministry of Trade, Industry and Energy (MOTIE, Minister Kim Jung-kwan) announced that the 11th International Conference on Hydrogen Safety (ICHS) will be held at Lotte Hotel World in Seoul from Monday, September 22, to Friday, September 26. The conference will bring together experts from around the world to share the latest technologies and research developments in hydrogen safety and explore avenues for policy cooperation. Approximately 300 participants are expected to attend, including speakers from 24 countries and representatives from major governments and organizations. As the host country, Korea will use this opportunity to demonstrate its strong commitment to building a safe hydrogen economy—ensuring that hydrogen, as a core clean energy source of the future, develops in tandem with safety. Beginning Tuesday, September 23, the conference will feature keynote speeches from government and industry leaders, 163 research paper presentations, a site visit to the Incheon liquefied hydrogen plant, and promotional booths from eight Korean and international companies. These programs will facilitate discussions on hydrogen safety policies and technologies while highlighting the competitive strengths of Korean companies. In his keynote address, Park Deok-yeol, Director-General of the Hydrogen Economy Policy Bureau, stressed, “A hydrogen economy grounded in safety is essential to addressing the global climate crisis and achieving carbon neutrality. Hydrogen safety is not an issue for any single nation to handle alone; it requires close international cooperation. We hope this conference will serve as a turning point toward a safer, cleaner hydrogen society.”   date2025-09-23

Korea and Saudi Arabia Strengthen “Rafiq” (Companion) Partnership

Korea and Saudi Arabia, which is a key nation in the Middle East and North Africa (MENA) region, are expected to strengthen their economic partnership for a new era of growth. Minister of Trade, Industry and Energy Kim Jung-kwan attended the 95th Saudi National Day celebration hosted by the Embassy of Saudi Arabia in Seoul (Chargé d’Affaires Fahad Barakah) on Monday, September 22, to commemorate the long-standing friendship between the two countries and outline directions for future cooperation. In his congratulatory remarks, Minister Kim recalled that “since the establishment of diplomatic relations in 1962, Korea and Saudi Arabia have strengthened their cooperation as growth partners across diverse fields such as energy, construction, and manufacturing.” He emphasized that “as Saudi Arabia prepares for the post-oil era and Korea seeks another leap forward through an innovation-driven economy amid rapidly changing trade dynamics, it is time to elevate the value of our partnership and broaden its horizons toward a new era of growth.” He then outlined three key directions for bilateral cooperation: First, to establish the Korea–Saudi Vision 2030 Committee as a whole-of-government ministerial cooperation channel, laying the groundwork for the early launch of the Korea–Saudi Strategic Partnership Committee at the leaders’ level. Second, to expand cooperation into new areas, including advanced semiconductors, robotics, artificial intelligence (AI), and other high-tech sectors, as well as services such as culture and entertainment, including K-pop and K-dramas. Third, to extend successful Korea–Saudi economic cooperation models to the Gulf Cooperation Council (GCC), the Levant, and ultimately the wider MENA region. In particular, he noted that Korea will work toward the swift signing and entry into force of the Korea–GCC Free Trade Agreement, concluded at the end of 2023, to further advance economic cooperation with the region. Minister Kim also introduced the Arabic concept of “Rafiq,” meaning a trusted companion who journeys together, and underscored his commitment to strengthening the Korea–Saudi partnership under this spirit.   date2025-09-23

Korea–Ukraine Discuss Economic Cooperation

The Ministry of Trade, Industry and Energy (MOTIE, Minister Kim Jung-kwan) announced that 1st Vice Minister Moon Shin-hak met with Marina Denysiuk, Deputy Minister of the Ministry for Communities and Territories Development of Ukraine, on Friday, September 19, at the Government Complex Seoul to discuss ways to strengthen bilateral cooperation. Vice Minister Moon expressed deep sympathy for the Ukrainian people and communities severely affected by more than three years of war, noting that Korea also rose from the ruins of war and therefore deeply shares Ukraine’s hardships. He stressed that as a leading manufacturing country, Korea has significant potential for cooperation with Ukraine in plant and infrastructure construction and power equipment. He also noted that Ukraine, as one of the world’s major grain producers, could accelerate its agricultural recovery by working with Korean agricultural machinery equipped with advanced technologies such as artificial intelligence (AI). Deputy Minister Denysiuk thanked Korea for sharing its growth experience, saying it could provide valuable guidance for Ukraine’s reconstruction and future development. She emphasized the importance of expanding cooperation not only through government-to-government (G2G) channels but also business-to-business (B2B) partnerships. In particular, she expressed strong interest in Korea’s support programs for small-scale independent power grids, or microgrids, highlighting them as essential infrastructure for community recovery. Vice Minister Moon stated, “We hope peace will be restored in Ukraine as soon as possible. Following the end of the war, we look forward to Ukrainian support so that Korean companies, with their extensive experience and technological expertise, can contribute to Ukraine’s reconstruction.”   date2025-09-19

Korea’s Auto Industry Maintains Growth Momentum in August

The Ministry of Trade, Industry and Energy (MOTIE) announced on September 16 that Korea’s automobile exports, domestic sales, and production all increased year-on-year in August, marking the second consecutive month of growth. Automobile exports rose 8.6 percent to $5.5 billion, the highest August level on record. Cumulative exports for January–August also set a new record at $47.7 billion. By region, exports to the EU climbed 54.0 percent to $0.8 billion, while exports to non-EU European countries soared 73.2 percent to $0.6 billion. Exports of eco-friendly vehicles increased 26.6 percent to 69,000 units, continuing eight straight months of growth. Electric vehicle (EV) exports surged 78.4 percent to 23,000 units. Domestic automobile sales grew 8.3 percent to 139,000 units. Eco-friendly vehicles accounted for 50.7 percent of total sales, with 70,000 units sold (up 36.1 percent year-on-year). EV sales in particular rose 55.7 percent to 24,000 units. Cumulative EV sales for January–August reached 141,000 units, nearly matching the full-year 2024 total. Automobile production increased 7.1 percent year-on-year to 321,000 units, the highest August figure since 2013, supported by solid demand in both export and domestic markets.   date2025-09-17

Korea-South Africa Insight Forum cohosted by MOTIE and South African Embassy to ROK

The economic cooperation with the Republic of South Africa (herein referred to as RSA) is expected to be invigorated. RSA is the largest economy in Africa and one of the emerging markets among the Global South countries. The Ministry of Trade, Industry and Energy (Minister Jung-kwan KIM, herein referred to as MOTIE) held the Korea-South Africa Insight Forum in collaboration with the South African Embassy in Seoul (Ambassador Sindi Mququ) to expand cooperation with RSA, this year's host to G20 Summit on Wednesday, 17 September at the Diplomacy Center located in Yangjae-dong. * RSA, which recorded the largest GDP (400.2 billion dollars) in Africa as of 2024, is Korea’s second largest trading partner in Africa with its trading volume standing at 3.3 billion dollars. The upcoming G20 trade and investment ministerial meeting to be held on 10 October and the G20 Summit scheduled from 22 to 23 November will serve as a momentum to promote the intergovernmental exchange by high-ranking officials from ROK and RSA. Therefore, the participants in the forum discussed various areas for cooperation including manufacturing, supply chain, energy, critical minerals, and infrastructure development. * The participants included Mr. Jongchul Kim, Director General, Bureau of International Trade relations at MOTIE; Ms. Sindi Mququ, Ambassador Young-chae Kim, Chairman of the Korea-Africa Foundation, South African Ambassador to Korea; Mr Timothy Dickens, Chairman of the SA Chamber of Commerce in Seoul; Mr Jong-woo Lee, team leader of Hyosung Heavy Industry; Dr Moon-su Kang, of KIEP; Mr Sang-hyun Seo, chief researcher of POSCO Research Institute; Mr Sung-hyuck Yoon, advisor of DR AJU and former executive officer for African market of Samsung Electronics. In particular, as RSA has recently been focusing on modernization of power infrastructure and supply of clean energy to stabilize power supply and conduct energy transition, Korea is highly likely to cooperate with RSA since Korea holds excellent capability in technologies especially for power generation facility, grid, ESS (Energy Storage System). RSA is also rich in critical minerals, with its production of platinum, manganese, and chrome ranking first in the world. Therefore, a possibility to cooperate in supply chain of critical minerals was also explored in the forum. In addition, the forum also addressed ways to expand trade between Korea and Africa, leveraging RSA as a foothold to cooperate with the South African region as well as the Pan African market, with the implementation of African Continental Free Trade Area (AfCFTA). Mr. Jongchul Kim, Director General, bureau of International Trade relations at MOTIE, said “RSA is the gateway for Korea to expand cooperation with Africa. This year’s G20 Summit will serve as a momentum for Korea to seek ways to cooperate with RSA in areas including trade, investment, industry and energy.” In response, Ms. Sindi Mququ, South African Ambassador to Korea said “Through South Africa’s G20 Presidency, we are mobilising finance for Just Energy Transition and harnessing critical minerals for inclusive growth and development. Therefore, South Africa-South Korea collaboration is of critical importance and mutually beneficial”. date2025-09-17

MOTIE Holds Director-Level Meetings with Vietnam

The Ministry of Trade, Industry and Energy (MOTIE, Minister Kim Jung-kwan) announced that it held virtual meetings with Vietnam’s Ministry of Finance on Friday, September 12, and with the Ministry of Industry and Trade on Monday, September 15. The discussions focused on implementing the outcomes of the Korea-Vietnam summit in August, held during General Secretary To Lam’s state visit to Korea, and on follow-up measures.   The first director-level meeting between MOTIE and Vietnam’s Ministry of Finance on September 12 was co-chaired by Kim Jong-chul, Director General for International Trade Relations, and Do Van Su, Director General of the Foreign Investment Agency. Participants included representatives from the Korean Embassy in Vietnam, the Vietnamese Embassy in Korea, and related organizations such as the Korea Electric Power Corporation (KEPCO), the Korea Institute for Advancement of Technology, and the Korea Federation of Textile Industries. Discussions addressed key business challenges, including: (1) prompt resolution of delayed VAT refunds for Korean textile companies operating in Vietnam, (2) succession of special incentives following HD Korea Shipbuilding & Offshore Engineering’s acquisition of Doosan Vina, and (3) timely support for the implementation of the global minimum tax. The two sides also reviewed proposals from the Vietnamese Ministry of Finance on cooperation in supply chains, energy, infrastructure development, and collaboration between public enterprises under both ministries. While the two ministries have previously co-hosted the Korea-Vietnam Business Forum, this meeting marked the establishment of their first regular consultation mechanism. Both sides agreed to use this meeting as a starting point for continued cooperation in foreign investment, corporate support, and infrastructure development, including nuclear power and supply chains. The Vietnamese Ministry of Finance noted that although VAT refunds and incentive succession fall under local government jurisdiction, it is also conducting direct consultations at the ministry level. The ministry added that it will actively support Korean companies on other challenges such as stable power supply and infrastructure expansion. On September 15, the fourth Korea-Vietnam Plus Joint Working Group meeting was held, co-chaired by Kim Jong-chul and Do Quoc Hung, Deputy Director General for Foreign Market Development at Vietnam’s Ministry of Industry and Trade. Participants included officials from both embassies, the Korea Trade-Investment Promotion Agency, GS1 Korea, KEPCO, and other relevant organizations. Launched in September 2023, the Joint Working Group serves as a director-level hotline platform for discussing trade and investment promotion measures toward the shared goal of expanding bilateral trade to USD 150 billion by 2030. In addition to trade and investment cooperation, the platform also addresses challenges faced by Korean companies operating in Vietnam. At the meeting, the two sides reviewed the status of bilateral trade and investment and discussed action plans to achieve the USD 150 billion trade target by 2030. They also examined follow-up measures from the summit, including plans for an MOU on nuclear energy workforce development. The Korean side requested support to address challenges facing Korean renewable energy investors in Vietnam, particularly regarding electricity sales, as well as improvements to the regulatory framework for participation in LNG power projects. The Vietnamese side responded that it is actively seeking solutions with relevant ministries and agencies and will share the results promptly. MOTIE stated that it will continue to actively support Korean investors in Vietnam by operating multilayered consultation channels such as the ministerial-level Korea-Vietnam Joint Industrial Committee and the Korea-Vietnam FTA Joint Committee, enabling date2025-09-16

Korea’s ICT Exports Up 11.1% in August

The Ministry of Trade, Industry and Energy and the Ministry of Science and ICT announced on September 15 that Korea’s exports of ICT goods in August 2025 rose 11.1 percent year-on-year to USD 22.9 billion, while imports grew 7.6 percent to $12.5 billion. The trade balance recorded a surplus of $10.3 billion. Despite new tariff measures, ICT exports reached an all-time high for the month of August, driven by record-breaking semiconductor shipments. Semiconductor exports surged 27.0 percent year-on-year, supported by rising DRAM and NAND contract prices and strong demand for high-value memory products such as DDR5 and HBM. Communication device exports increased 1.8 percent, supported by favorable demand for battlefield communications equipment in the U.S. and Mexico. By contrast, exports of displays (down 9.4 percent), mobile phones (down 15.4 percent), and computers/peripherals (down 16.6 percent) declined. Display exports fell on weak demand for TVs, monitors, and mobile devices. Mobile phone exports were weighed down by slowing parts shipments despite solid demand for new finished models. Computer and peripheral exports were impacted by last year’s high base for SSD shipments, though demand from data centers in China and the Netherlands helped narrow the decline. By destination, exports to Taiwan (up 65.6 percent), Vietnam (up 18.0 percent), the EU (up 8.2 percent), Japan (up 3.9 percent), and China including Hong Kong (up 0.3 percent) all increased, while exports to the U.S. fell 9.9 percent. ICT imports in August rose 7.6 percent year-on-year to $12.5 billion, driven by gains in semiconductors (up 4.7 percent), mobile phones (up 20.2 percent), and computers/peripherals (up 31.1 percent).   date2025-09-16

Korea Discusses Enhanced Industrial and Energy Cooperation with Saskatchewan, Canada

  Korea’s Deputy Minister for Trade Park Jong-won met with Saskatchewan’s Minister of Trade and Export Development Warren Kaeding in Seoul on Monday, September 8, to discuss ways to strengthen bilateral cooperation in industries, critical minerals, and energy. The Canadian province of Saskatchewan is rich in natural resources, including uranium, natural gas, oil, and critical minerals. The region ranks first globally in both potash reserves and production, third in uranium reserves, and second in uranium production. It is also pursuing the introduction of small modular reactors (SMRs) to decarbonize up to 80 percent of its electricity supply by 2030. The two sides noted that since the Korea-Canada Free Trade Agreement entered into force in 2015, bilateral economic and trade relations have grown significantly, with trade nearly doubling over the past decade (from USD 8.6 billion to 17.2 billion). They agreed on the importance of expanding cooperation amid growing uncertainty in the global trade environment, driven by rising protectionism worldwide. Regarding enhanced energy cooperation between Korea and Saskatchewan, Deputy Minister Park stated, “This creates mutual benefits from an energy security perspective, enabling Korea to secure stable energy sources and Canada to diversify its energy exports.” He also expressed hopes for the provincial government’s continued support for bilateral cooperation in future-oriented strategic industries and eco-friendly energy sectors, such as batteries, SMRs, hydrogen, and critical minerals, in light of active Korean investment in Canada.   date2025-09-08