Ministry of Trade Industry and Resources

MOTIR and China’s Ministry of Commerce Discuss Follow-up Measures Following the Korea–China Summit in Beijing After a Seven-Year Hiatus

JK (Jung-Kwan) Kim, Minister of Trade, Industry and Resources (MOTIR), visited Beijing from Thursday, December 11 to Friday, December 12, 2025, to hold a Korea–China Trade Ministers’ Meeting with Wang Wentao, Minister of Commerce of China. The meeting marked the first standalone bilateral trade ministers’ meeting in seven years, following the previous meeting held in Beijing in June 2018, and took place just over a month after the two sides met on November 1 in Gyeongju on the margins of the APEC Economic Leaders’ Meeting.  At the meeting, the two sides discussed ways to enhance bilateral economic and trade cooperation, including follow-up measures to the agreements reached at the Korea–China summit held during President Xi Jinping’s state visit to Korea on November 1. Minister Kim and Minister Wang shared the view that close inter-ministerial communication should be maintained to sustain the momentum toward restoring bilateral relations and to deliver tangible outcomes that contribute to the recovery of people’s livelihoods. With bilateral trade having remained stagnant after reaching a record USD 310.4 billion in 2022, the two sides agreed to expand trade and promote mutual investment, including through continued ministerial-level exchanges to advance substantive discussions. Recognizing that bilateral trade has largely focused on goods, they agreed to work toward expanding service trade based on the “Memorandum of Understanding (MOU) on Strengthening Service Trade Cooperation” signed on the margins of the recent summit. The two sides also agreed to convene the Korea–China FTA Joint Committee at an early date to review the implementation of the FTA and identify ways to enhance its effectiveness, as well as to accelerate negotiations on the Korea–China FTA covering services and investment. The two sides shared views on the importance of strengthening cooperation to revitalize regional economies. Korea agreed to continue cooperation with Chinese provincial governments, including Guangdong, Jiangsu, and Shandong, while expanding collaboration to central and inland regions. China agreed to jointly develop new models for regional cooperation, including by dispatching investment survey missions to areas such as Saemangeum. They also agreed to leverage existing consultation channels, including the vice-ministerial Korea–China Industrial Complex Consultation, to explore ways to strengthen investment cooperation through Korea–China industrial cooperation complexes. Noting the close interlinkages between the two countries’ supply chains, the ministers agreed to maintain close communication to facilitate the smooth supply of key items, including rare earths. They also agreed to support stable trade in critical minerals through the active use of the general licensing system, based on the Korea–China export controls dialogue. Korea also conveyed its position on trade remedy investigations involving Chinese hot-rolled steel products, noting that they are being conducted fairly and transparently in accordance with WTO rules. Both sides agreed on the need to prevent unnecessary misunderstandings arising from trade remedy measures and to enhance prior communication through regular director-general-level meetings. The two sides reaffirmed the importance of a WTO-centered, rules-based multilateral trading system and agreed to continue cooperation under regional frameworks including APEC and RCEP. Korea also agreed to support China’s successful hosting of APEC next year by sharing its experience as a former host economy. Following the meeting, the two sides signed a document titled “Key Cooperation Matters between Korea’s Ministry of Trade, Industry and Resources and China’s Ministry of Commerce.” Based on this framework, the two ministries will work to ensure the smooth o date2025-12-15

Korea’s ICT Exports Reach All-Time High in November

The Ministry of Trade, Industry and Resources and the Ministry of Science and ICT announced on December 15 that Korea’s exports of ICT goods in November 2025 rose 24.3 percent year-on-year to USD 25.5 billion. Imports increased by 2.7 percent to $12.8 billion, resulting in a trade surplus of $12.7 billion. Amid a recovery in global demand for ICT devices, ICT exports rose for the tenth consecutive month on a year-on-year basis in November, reaching an all-time high. The trade balance also posted the largest surplus on record, in line with the strong growth in exports. By product, exports of semiconductors (up 38.6 percent), mobile phones (up 3.5 percent), computers/peripherals (up 1.9 percent), and communication equipment (up 3.3 percent) increased, while display exports declined (down 3.7 percent). Semiconductor exports reached a record high, supported by continued increases in fixed memory semiconductor prices and strong demand for high-value products. Mobile phone exports rose on robust demand for high-performance components, including camera modules and 3D sensing modules. Exports of computers and peripherals returned to growth on strong SSD demand as investment in AI servers expanded.   Communication equipment exports increased thanks to recovering demand for automotive equipment in the United States and for components in Vietnam. By contrast, display exports declined, as falling LCD prices and weaker downstream demand outweighed a rebound in OLED exports. By destination, exports to India fell 8.9 percent, while exports to China, including Hong Kong (up 25.3 percent), Vietnam (up 11.6 percent), the European Union (up 18.1 percent), the United States (up 7.9 percent), and Taiwan (up 32.2 percent) all increased. Exports to Japan also rose 18.0 percent, returning to growth on higher shipments of semiconductors and computers and peripherals. ICT imports amounted to $12.8 billion in November, up 2.7 percent year-on-year, driven by increases in mobile phones, including components (up 26.9 percent), computers/peripherals (up 11.2 percent), and communication equipment (up 21.5 percent). In particular, strong demand for newly released products from major global manufacturers, launched in September, led to higher imports of finished mobile phones. By contrast, imports of semiconductors (down 3.3 percent) and displays (down 0.7 percent) declined. date2025-12-15

Korea Launches Modular Trade Agreement Initiative to Lead the Future Global Trade Order

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Trade Minister Yeo Han-koo convened a roundtable on new modular trade agreements on Wednesday, December 10, at the Korea Chamber of Commerce and Industry to exchange views on Korea’s strategy for reshaping global trade norms and cooperation structures through a new type of trade agreement. The concept of modular trade agreements stems from a growing recognition that traditional FTAs—focused largely on market opening—are no longer sufficient to fully address emerging trade issues such as supply-chain resilience, the green economy, and digital and AI transformation amid rising global uncertainty. In addition, the government noted that for emerging economies with significant resources and growth potential but high sensitivity to market opening, a tailored trade-cooperation model that more precisely reflects each country’s circumstances and cooperation needs has become increasingly important. Accordingly, MOTIR announced that it will gather broad input from industry and experts as it prepares a modular approach to new trade agreements. The ministry will first develop standard text for four key areas—supply chains, critical minerals, the green economy, and digital trade—after which specific modules and detailed provisions will be selected and combined for partner countries based on their respective conditions and cooperation needs. At the roundtable, Trade Minister Yeo Han-koo stated, “New modular trade agreements represent a new cooperation model that enables Korea to take the lead in shaping international standards for next-generation trade rules amid a rapidly changing global environment.” He added, “By enabling flexible and timely cooperation tailored to each country’s circumstances and the needs of businesses, we will build a trade network that delivers tangible benefits to businesses.” Industry representatives and experts emphasized that new modular trade agreements must be closely aligned with the actual risks and needs faced by companies, expressing strong interest in the model’s significantly enhanced timeliness, flexibility, and responsiveness compared to traditional FTAs. Based on the feedback shared at the roundtable, MOTIR will further refine and finalize the standard text for each module by the end of this year. Using this framework, the ministry plans to apply the modular approach first to next year’s FTA upgrade negotiations with Singapore and ASEAN, before expanding its use to additional partner countries. date2025-12-11

K-FEZ Expands Investment Outreach to Japanese Port and Logistics Companies

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) hosted “K-FEZ Day in Japan” on December 11 in Fukuoka. Focusing on the port and logistics sector, the event showcased the investment appeal and business environment of Korea’s Free Economic Zones (K-FEZs) to companies in Japan’s Kyushu region, expanding investment outreach. The program included an overview of the K-FEZ investment environment; presentations on port and logistics projects in the Incheon, Gyeonggi, and Busan–Jinhae Free Economic Zones; a briefing by the Japan Maritime Center on the role of Korea–China–Japan manufacturing logistics; and one-on-one investment consultations. Approximately 100 participants attended, including representatives from MOTIR, KOTRA, the Incheon, Gyeonggi, and Busan–Jinhae Free Economic Zone Authorities, as well as major Japanese port and logistics companies such as Nippon Express, Mitsui-Soko, and Kokura Transport. Each Free Economic Zone Authority introduced its specialized initiatives—such as cold-chain clusters, e-commerce districts, and integrated logistics manufacturing facilities. J&K Logistics, a Japanese logistics consulting firm, also shared successful cases of Japanese logistics companies investing in Korea and proposed concrete models for Korea–Japan cooperation, generating strong interest among participants. Je Kyung-hee, Director-General of the Free Economic Zone Planning Office, stated that “this event reaffirmed the strong interest of major Japanese port and logistics companies in K-FEZs,” adding that “MOTIR will continue strengthening industry-specific and tailored investment promotion activities aligned with the unique characteristics of each Free Economic Zone Authority.” MOTIR will continue to promote the K-FEZ investment environment to major investment partner countries, including Japan, and expand opportunities for cooperation with potential investors. date2025-12-11

Korea and Japan Strengthen Investment and Supply Chain Cooperation Amid Rising Trade Uncertainties

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), held a roundtable with the Seoul Japan Club (SJC) and representatives of Japanese-invested companies at the Korea Press Center’s SJC conference room on Thursday, December 11. Japan has emerged as one of Korea’s largest foreign investors despite global trade uncertainties, with reported FDI reaching a record USD 6.1 billion last year—ranking first among all investing countries. Against this backdrop, the roundtable served to strengthen dialogue with Japanese companies operating in Korea, providing an opportunity to closely assess their perspectives and challenges and to explore ways to support stable investment activities. Participants included SJC Chairman Matsuura Tetsuya, President of Mitsubishi Corporation Korea; representatives of major Japanese investors; and officials from the Japan External Trade Organization (JETRO) and the Japan Chamber of Commerce and Industry in Korea. The Japanese side shared expectations regarding the new government’s economic policies, called for progress on SJC’s annual recommendations for Japanese companies investing in Korea, raised concerns related to the amended Labor Union Act, and requested streamlined entry procedures for foreign businesspersons. Minister Yeo underscored the importance of Korea–Japan cooperation, noting that “the two countries face similar pressures—from U.S. tariff actions and investment dynamics to China’s export controls and EU environmental rules.” He added that “to ensure that Japan’s investment in Korea leads to strengthened bilateral supply chains, Korea and Japan should build a future-oriented economic partnership by expanding cooperation in advanced industries, including AI, semiconductors, biotechnology, and new energy.” He also stated that “MOTIR will continue to support Japanese investors by actively reviewing the SJC’s recommendations to be submitted early next year with the relevant ministries.” To further attract Japanese investment, MOTIR will thoroughly review the proposals raised at the roundtable with the relevant ministries and will continue to create opportunities for communication with major foreign-invested companies. date2025-12-11

Korea Opens “Rare Metals Cooperation Center” to Advance Critical Minerals Partnership with Mongolia

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that it will officially open the Korea–Mongolia Rare Metals Cooperation Center on Friday, December 12, at the Mongolian University of Science and Technology in Ulaanbaatar. Implemented as a grant-based ODA program, the center will receive approximately KRW 9.8 billion in support for its establishment and operation from 2023 to 2027. About 150 participants are expected to attend the opening ceremony, including representatives from Mongolia’s Ministry of Mining and Heavy Industry (MMHI), the Mineral Resources and Petroleum Authority, and the Geological Center for Research and Analysis (GCRA), as well as officials from MOTIR, the Korea Institute for Advancement of Technology (KIAT), and the Korea Institute of Geoscience and Mineral Resources (KIGAM). Since 2023, MOTIR has been promoting the establishment and operation of Rare Metals Cooperation Centers through ODA programs to strengthen cooperation in critical mineral supply chains. The Mongolia center is the first to open among the five centers currently under development with countries such as Uzbekistan, Vietnam, Kazakhstan, and Indonesia. Jointly operated by KIGAM and Mongolia’s GCRA, the center will analyze tungsten, molybdenum, lithium, and other rare metals found in Mongolia, while providing technical training in mineral processing, refining, and smelting. These activities aim to support Mongolia in enhancing the value of its rare metal resources and linking them to viable production. MOTIR stated that the launch of the center marks a significant step forward in bilateral cooperation on critical minerals and affirmed its commitment to continue supporting the center’s operations, thereby contributing to the development of Mongolia’s rare metals industry and strengthening Korea’s medium- to long-term supply chain stability. date2025-12-11

Korea Discusses Preparatory Measures for the 14th WTO Ministerial Conference

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the WTO Multilateral Trade Strategy Meeting on Wednesday, December 10, joined by the Ministry of Economy and Finance (MOEF), the Ministry of Foreign Affairs (MOFA), the Ministry of Agriculture, Food and Rural Affairs (MAFRA), the Ministry of Oceans and Fisheries (MOF), and the Permanent Mission of the Republic of Korea in Geneva. With the 14th WTO Ministerial Conference set for March 26–29 in Cameroon, now three months away, participants examined recent developments and Korea’s response strategies regarding key agenda items for MC14 and the WTO General Council on December 16–17. These included the WTO reform, the incorporation of the Investment Facilitation for Development (IFD) Agreement and the E-Commerce Agreement into the WTO system, and agriculture and fisheries subsidy negotiations. The IFD Agreement, currently supported by 128 participating members, was concluded at MC13 under Korea’s co-chairmanship. Korea has since continued efforts to incorporate it into the WTO system, such as by adopting a related statement at APEC in May 2025 and hosting an IFD session at the WTO Public Forum in September 2025. Trade Minister Yeo noted, “Amid growing global trade uncertainties, enhancing the WTO’s relevance and restoring the multilateral trading system are vital to ensuring a predictable trade and investment environment for Korean companies.” He underscored the importance of working closely with relevant ministries and like-minded members to deliver meaningful outcomes at MC14, including the incorporation of the IFD Agreement and the extension of the E-Commerce Moratorium. date2025-12-10

Korea to Strengthen Economic and Trade Cooperation with India, a Key Country in the New Southern Region

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) met with Gourangalal Das, the newly appointed Ambassador of India to the Republic of Korea, on Wednesday, December 10, at the Korea Chamber of Commerce and Industry. The two sides held wide-ranging discussions on ways to expand economic and trade cooperation between Korea and India. Trade Minister Yeo underscored India’s importance as a key country in the New Southern region and one of Korea’s most important economic cooperation partners. He expressed his hope that the two countries will further deepen their partnership by generating new economic outcomes in areas with strong cooperation potential, such as shipbuilding, critical minerals, and greenhouse gas reduction. Ambassador Das reaffirmed his commitment to advancing bilateral economic and trade cooperation during his tenure. The two sides shared the view that improving the Korea–India Comprehensive Economic Partnership Agreement (CEPA) is necessary to establish a mutually beneficial trade framework and expand bilateral economic and trade cooperation. They agreed to maintain close communication and resume negotiations to upgrade the agreement as soon as possible. Trade Minister Yeo also noted that more than 670 Korean companies are currently operating in India but continue to face challenges arising from non-tariff barriers, including BIS certification and trade remedy measures. He requested India’s support to help ensure that these companies can continue contributing to bilateral economic cooperation. MOTIR will continue to work closely with the Embassy of Korea, KOTRA trade offices, Korea Plus in India, and other local support institutions to foster a stable business environment for Korean companies operating in India. date2025-12-10