Ministry of Trade Industry and Resources

Minister Urges Continued Foreign Investment in Korea

The Ministry of Trade, Industry, and Resources (MOTIR) hosted the 2025 Foreign Company Day on Thursday, November 13, to honor foreign-invested companies and partner institutions that have contributed to attracting foreign investment to Korea, as well as to encourage continued interest and investment in the country. At the event, which marks its 25th anniversary, Minister Kim Jung-kwan congratulated the award recipients and urged foreign-invested companies to further expand their investment. Many of this year’s awardees were recognized for attracting investment to advanced industries such as semiconductors and secondary batteries. They are expected to continue strengthening Korea’s high-tech industrial base and enhancing supply chain stability through active business operations in the country. A total of 40 awardees were recognized at the ceremony. Anwar A. Al-Hejazi, CEO of S-OIL—Korea’s largest foreign-invested company—received the Gold Tower Order of Industrial Service Merit. No Seong, Executive Director at onsemi Korea—a global leader in power semiconductors and silicon carbide (SiC) that is expanding investment in Korea—received the Silver Tower Order of Industrial Service Merit. Minister Kim emphasized that “foreign investment has long played a pivotal role in Korea’s economic development,” and reaffirmed that “the government is committed to fostering a reliable and attractive investment environment that enables foreign-invested companies to succeed through sustained investment in Korea.” He called for continued interest and cooperation from foreign-invested companies in expanding investment in the country. In addition to the awards, the event featured a panel discussion to share successful foreign investment cases and explore strategies to expand foreign investment amid global supply chain restructuring. MOTIR will continue advancing policies to enhance industrial competitiveness and promote foreign investment, while improving the investment environment by actively reflecting industry feedback from the field.   date2025-11-14

K-Mobility Drives the Future of Innovation

Korea’s Prime Minister Kim Min-seok visited Kia’s Hwaseong plant on November 14 to commemorate the new EVO Plant facilities and chair the first Future Mobility Industry Strategy Dialogue. While the Korea–U.S. tariff agreement has lowered auto and parts tariffs to 15 percent and eased market uncertainty, the automotive industry continues to face major challenges, including intensifying global competition in AI-based autonomous driving, maintaining domestic manufacturing capabilities, achieving carbon neutrality, transforming the parts ecosystem, and diversifying export markets. To drive a new leap forward for Korea’s automotive sector, the government unveiled the K-Mobility Global Leadership Strategy with the following key elements: 1.    Overcoming U.S. Tariff Challenges – To ease exporters’ remaining burden despite tariff reduction, the government will expand policy finance to more than KRW 15 trillion in 2026 and apply tariff quotas to raw materials used for vehicle and parts production. Korea will also boost EV subsidies to KRW 936 billion in 2026 (up from KRW 715 billion in 2025) and launch a new financing program for transport operators adopting electric and hydrogen buses.  2.    Establishing the K-Mobility Mother Factory – In response to global protectionism and Korean companies’ overseas market expansion, the government will strengthen policy support to maintain domestic production at more than 4 million vehicles and enhance manufacturing quality. It will also restructure the incentive framework for production, investment, and R&D in eco-friendly and advanced automotive components, provide up to KRW 1 million in additional EV transition incentives, and promote auto and parts workplace innovation through HTC-Bootcamp. The government also aims to transition 70 percent of internal combustion engine (ICE) parts companies into future mobility suppliers, designate 200 specialized parts companies by 2030, advance Industrial GX R&D, and foster 70,000 future mobility specialists by 2033. 3.    Readiness for the AI Autonomous Era – Korea will scale up autonomous vehicle R&D to close the technology gap with the U.S. and China by 2030, develop an E2E-AI autonomous driving model by 2027, and establish standard platforms for Software-Defined Vehicles (SDVs) and AI-Defined Vehicles (AIDVs). The government aims to mass-produce autonomous vehicles by 2028 and will finalize all related legal and institutional improvements by 2026. Korea will also establish a comprehensive AI mobility test complex to support real-world autonomous driving demonstrations in urban environments, develop guidelines for autonomous-driving data sharing, and prioritize regulatory improvements, such as permitting the use of original video data, easing temporary operation-zone restrictions, and expanding pilot zones. 4.    Expanding K-Future Mobility Globally – To accelerate global expansion, the government will strengthen market development across seven high-potential countries. Domestically, it will establish a KRW 50 billion future mobility industrial technology innovation fund and leverage the National Growth Fund. Korea will further enhance regional competitiveness through industry–academia–research clusters, supporting the global growth of its future mobility industry. date2025-11-14

Korea Seeks to Resolve Challenges Caused by Overseas Technical Regulations at the WTO

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) under the Ministry of Trade, Industry and Resources (MOTIR) and the Ministry of Food and Drug Safety (MFDS, Minister Oh Yu-kyoung) attended the third meeting of the WTO Committee on Technical Barriers to Trade (TBT) from November 10 to 14. They held multilateral and bilateral discussions to address export-impeding overseas technical regulations encountered by Korean companies and participated in topic sessions covering technical regulations for emerging industries, such as AI and semiconductors. At the committee meeting, the Korean government raised eight technical regulations as Specific Trade Concerns (STCs), as they may hinder trade in Korea’s key export products— such as home appliances, petrochemicals, and cosmetics—through excessive certification requirements. These regulations include Indonesia’s mandatory SNI certification for home appliances; India’s toluene quality control order; the EU’s F-gas regulation; India’s writing and printing paper, coated paper, and board quality control order; and China’s regulation on the supervision and administration of cosmetics and medical devices. Experts from Korea also chaired and spoke in the topic sessions, presenting recent trends in AI and semiconductor standardization, sharing policy experiences on technical regulations, and leading discussions on how technical regulation frameworks can promote global trade. Furthermore, the Korean government reiterated its intent to proactively engage in global discourse on technical regulations for emerging industries and to assume a leading role in establishing relevant international norms. President Kim Dae-ja of KATS emphasized that “through multilateral and bilateral discussions at the WTO TBT Committee, we have in the past resolved numerous technical-barrier-to-trade issues, such as India’s steel product certification hurdles and Australia’s ban on brominated flame retardants.” He also encouraged businesses to “actively utilize the government’s TBT discussion channels to resolve export challenges caused by overseas technical regulations.” date2025-11-14

Korea–EU Discuss Key Trade Issues, Including New EU Steel Import Measures and Cosmetics Export Concerns

Under the Korea–EU Free Trade Agreement (Korea–EU FTA), the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) held the 13th Korea–EU Committee on Trade in Goods meeting in Seoul on Thursday, November 13. As the consultative channel for tariff and non-tariff issues related to trade in goods, the committee reviewed the implementation of the Korea–EU FTA and discussed ways to resolve market-access challenges for companies on both sides. Now in its 13th year, the Korea–EU FTA continues to provide a solid foundation for creating an open and transparent market and fostering a mutually beneficial trade relationship between Korea and the EU. Building on this framework, the two sides have maintained steady economic exchanges despite rising global trade uncertainties, including heightened protectionism and supply-chain instability. The Korean side emphasized that strengthened EU regulations—such as the EU Battery Regulation, Carbon Border Adjustment Mechanism (CBAM), Corporate Sustainability Due Diligence Directive (CSDDD), and the F-gas Regulation—should not place excessive burdens on businesses and must be applied in a non-discriminatory manner to both EU and non-EU companies. Regarding the steel import measures recently proposed by the European Commission, Korea emphasized that it is an FTA partner rather than a target of the restrictions and a trusted counterpart working with the EU to address global steel overcapacity. It also noted that the measure should not undermine the principles of free and fair trade between Korea and the EU and called for a mutually agreeable solution. As the EU tightens regulations on packaging and packaging waste in the cosmetics sector—an industry of growing importance for Korea—the Korean side requested clear communication of the relevant rules and sufficient preparation time for companies before enforcement. It further highlighted the need for continued dialogue during the revision of the Cosmetic Products Regulation (CPR). On issues of interest to the EU—such as labeling and online sales regulations for alcoholic beverages, offshore wind power systems, and safety regulations for children’s products—the Korean delegation shared its ongoing engagement with relevant industries and provided detailed explanations in response to the EU’s inquiries. Both sides agreed to maintain close discussions and cooperation to achieve meaningful outcomes at the Trade Committee meeting scheduled for the first quarter of next year. date2025-11-14

MOTIR Discusses Corporate Support Measures with Vietnam’s Ministry of Finance

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan), met with Tran Quoc Phuong, Vietnam’s Vice Minister of Finance, on Thursday, November 13, at Lotte Hotel Seoul. The two officials discussed practical ways to strengthen economic cooperation, including measures to address challenges faced by Korean companies operating in Vietnam and cooperation in the nuclear energy sector. Minister Kim and the Vietnamese Minister of Finance previously held a minister-level meeting in August during the state visit of Vietnamese General Secretary To Lam. As a follow-up, the two sides convened a director-general-level meeting in September and then this deputy-minister-level meeting in November, continuing a series of discussions to enhance bilateral cooperation. Deputy Minister Park noted that large-scale investments by Korean companies in Vietnam have continued despite the rapidly changing global trade environment, with investment in the first half of 2025 more than doubling year-on-year. He added that bilateral cooperation has deepened under the Comprehensive Strategic Partnership, highlighted by two summit meetings held this year (in August and at the APEC Summit in October) following the inauguration of the new Vietnamese government. During the discussions, Korea raised several key issues faced by Korean businesses in Vietnam and requested swift and effective solutions to these challenges: ①    delayed refunds of value-added tax (VAT), ②    the need for smooth implementation support for the global minimum tax, ③    reduced electricity payments to renewable energy companies, and ④    support for LNG power generation investment projects. The two sides also agreed on the need for close policy dialogue and cooperation between their ministries on nuclear energy. Building on this meeting, Vietnam’s Ministry of Finance—which oversees public investment and foreign investment policy—and Korea’s MOTIR—which oversees the real economy—plan to continue strengthening cooperation across relevant sectors. date2025-11-14

Korea’s ICT Exports Extend Growth Streak in October

The Ministry of Trade, Industry and Resources and the Ministry of Science and ICT announced on November 14 that Korea’s ICT exports in October 2025 rose 12.2 percent year-on-year to USD 23.3 billion, the highest October figure on record. Imports fell 2.9 percent to $13.0 billion, resulting in a $10.4 billion surplus. ICT exports grew for the ninth consecutive month despite fewer working days and global trade uncertainty, driven by strong semiconductor performance. Semiconductor exports increased 25.4 percent as DRAM and NAND prices continued to rise and demand for high-value memory for AI servers remained strong. Communication equipment exports also rose 2.5 percent on higher demand from Vietnam and India. Displays (down 8.8 percent), mobile phones (down 11.8 percent), and computers/peripherals (down 1.0 percent) declined. Display exports fell on lower unit prices, mobile phone exports weakened due to reduced component shipments to China, and computers/peripherals narrowed their decline as SSD demand improved. By destination, exports increased to China including Hong Kong (up 4.9 percent), Vietnam (up 3.8 percent), the EU (up 29.2 percent), and the United States (up 5.8 percent), while exports to Japan fell 4.6 percent. ICT imports fell 2.9 percent to $13.0 billion, driven by declines in mobile phones and displays, while imports of GPUs and mid-to-large-scale computers continued to rise on expanding AI infrastructure demand. date2025-11-14

Korea’s Bioindustry Sees Growth in 2024: Production Up 9.8%, Exports Up 17.1%, Investment Up 46.1%

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) and the Korea Biotechnology Industry Organization (KoreaBIO, President Ko Hansung) announced the results of the 2025 Bioindustry Survey (Based on 2024 Data), which covers the status of production, trade, employment, and investment in Korea’s bioindustry. Conducted under Article 3 of the Statistics Act, the survey is a national statistical report released annually by MOTIR through KoreaBIO, based on the previous year’s bioindustry performance. As biotechnology expands beyond pharmaceuticals and food into broader industrial applications and daily life, ushering in the era of the bioeconomy, this survey provides valuable insight into the scale of Korea’s biotechnology-based economy. According to the findings, Korea’s bioindustry production reached KRW 22.9 trillion, marking a 9.8 percent increase from the previous year and signaling a recovery in growth. Bioindustry exports rose 17.1 percent year-on-year, driven by increased shipments of major products such as antibody drugs and biopharmaceutical contract manufacturing (CMO) services, which in turn boosted overall production. Investment also surged, with R&D spending up 3.2 percent and large-scale facility investment up 145.3 percent, resulting in a 46.1 percent increase in total investment. Choi Woo-hyuk, Director General for Advanced Industry Policy at MOTIR, stated, “Despite ongoing uncertainty in the global trade environment, Korea’s bioindustry is regaining momentum. We will continue to strengthen support for companies’ efforts in research and development, production, and export expansion so that the bioindustry can play an even greater role in contributing to the Korean economy and employment.”   date2025-11-13

Korea and Qatar to Strengthen Cooperation in Energy Supply Chains, Plant, and Shipbuilding Sectors

Minister of Trade, Industry and Resources Kim Jung-kwan met with Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs of Qatar and CEO of QatarEnergy, in Seoul on Wednesday, November 12. The two ministers discussed ways to strengthen bilateral cooperation, focusing on energy supply chain collaboration. The meeting, arranged during Minister Al-Kaabi’s visit to Korea, provided an opportunity for the two countries to discuss key issues related to energy supply chain stability and exchange views on expanding practical cooperation in the plant construction and shipbuilding sectors. Both ministers commended the longstanding partnership between Korea and Qatar in the liquefied natural gas (LNG) sector, which has helped maintain a stable supply chain. They also discussed Qatar’s ongoing plans to expand LNG production and shared perspectives on broadening cooperation across industrial and resource-related fields, including stable energy supply. Recognizing the close interconnection between LNG trade and related industries such as plant construction and shipbuilding, the two countries agreed to further strengthen mutually beneficial cooperation in these areas. MOTIR stated that this meeting with Qatar’s top energy official served as a meaningful opportunity to reinforce energy supply chain stability and expand practical cooperation in key industrial sectors. The ministry added that it will continue to strengthen high-level dialogue channels with Qatar and pursue concrete project-based partnerships in LNG, plant construction, and shipbuilding. date2025-11-13