Ministry of Trade Industry and Resources

Korea’s exports grow 4.3% in June

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s exports and imports for the month of June 2025 advanced 4.3 percent and 3.3 percent year-on-year to USD 59.8 billion and $50.7 billion, respectively. The trade balance stood at a surplus of $9.1 billion. June exports and the daily average export value both hit all-time highs for the month, the latter increasing 6.8 percent to $2.9 billion when accounting for the number of working days (-0.5 compared to June 2024). By item, six out of 15 major items gained in exports. Semiconductors reached new highs at $15.0 billion (up 11.6 percent), maintaining the upward trajectory for the fourth consecutive month. Exports of computers and solid-state drives (SSDs) climbed 15.2 percent to $1.3 billion, expanding for the second straight month. Automobiles grew 2.3 percent to a fresh high of $6.3 billion for the month, as electric vehicles (EVs) enjoyed strong demand across the EU alongside robust growth of secondhand car exports (up 67.9 percent to $0.7 billion). This is the first time for Korea’s total automobile exports to enter the 6 billion thresholds for the fifth consecutive month. Bio-health hit record highs at $1.7 billion (up 36.5 percent) on the backs of biopharmaceuticals (up 54.0 percent to $1.1 billion). Ship exports surged 63.4 percent to $2.5 billion, advancing for the fourth consecutive month. Meanwhile, petroleum products (down 2.0 percent to $3.6 billion) and petrochemicals (down 15.5 percent to $3.4 billion) continued to slide in step with weak global oil prices. Aside from major items, agricultural and fishery products (up 7.7 percent to $1.0 billion), cosmetics (up 22.0 percent to $1.0 billion), and electrical equipment (up 14.8 percent to $1.6 billion) all logged unprecedented highs for the month of June. By region, exports to seven out of nine major destinations saw growth. Exports to the U.S. and China inched down 0.5 percent and 2.7 percent, respectively, to $11.2 billion and $10.4 billion. To ASEAN, exports ended the monthly decline and rose 2.1 percent to $9.8 billion, driven by semiconductors, ships, and steel products. Exports to the EU (up 14.7 percent to $5.8 billion) posted growth for the fourth consecutive month, led by automobiles, car parts, ships, and petroleum products. India-bound exports improved 2.3 percent to $1.6 billion, a record high for the month. To CIS countries, exports soared 18.5 percent to $1.1 billion, increasing for the fourth consecutive month. Exports to Latin America (up 3.3 percent to $2.4 billion), Japan (up 3.0 percent to $2.5 billion), and the Middle East (up 14.8 percent to $1.9 billion) all resumed growth. In addition, exports to Taiwan jumped 31.0 percent to $4.3 billion, setting historic highs for June. As for imports, non-energy items hiked 7.9 percent to $42.2 billion, whereas energy imports declined 14.6 percent to $8.6 billion.  Korea’s exports for the first half of 2025 remained relatively flat year-on-year at $334.7 billion (down 0.03 percent) and the daily average export value, accounting for the number of working days, gained 2.3 percent to $2.6 billion. Imports contracted 1.6 percent to $306.9 billion and the trade balance netted a surplus of $27.8 billion (up $4.8 billion year-on-year). Five out of 15 major items led the increase during the first half, namely semiconductors (up 11.4 percent to $73.3 billion), wireless communication devices (up 8.5 percent to $7.5 billion), computers (up 12.6 percent to $5.9 billion), ships (up 18.8 percent to $13.9 billion), and bio-health (up 11.0 percent to $8.2 billion). Notably, semiconductors surpassed previous first-half highs, powered by solid demand for high value-added products like DDR5s and HBMs as well as the rebound in fixed prices of key memory chips.   date2025-07-01

Korea Trade Commission Holds 461st Meeting

The Korea Trade Commission (KTC) under the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) held the 461st KTC meeting at the Government Complex Sejong on June 26, 2025, for deliberation and resolution on anti-dumping investigations. Regarding the investigations initiated in September 2024 on Chinese stainless steel plates, the KTC ruled that dumped imports of these products have caused material injury to the domestic industry and proposed a five-year anti-dumping duty of 21.62% to Korea’s Ministry of Economy and Finance. The said products are currently subject to a provisional anti-dumping duty of 21.62% since March 2025. The KTC also held a public hearing in two anti-dumping cases involving Chinese sodium dithionite and Thai particle boards,  both of which were launched in December 2024. Public hearings are held before a final determination to grant interested parties sufficient opportunity to make statements and ensure their rights of defense. Chinese sodium dithionite is currently subject to provisional anti-dumping duties ranging from 15.15% to 33.97% from June 21 to October 20, 2025. For Thai particle boards, the Ministry of Economy and Finance is reviewing whether to impose provisional duties of 11.82% to 17.19%, as recommended by the KTC. Both cases await final determinations in the second half of 2025 following due diligence procedures in Korea and overseas.   date2025-06-26

Korea’s retail industry grows 7.0% in May

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s retail industry grew 7.0 percent year-on-year overall during the month of May 2025, with offline and online sales gaining 0.9 percent and 13.0 percent, respectively. MOTIE's monthly retail sales figures are based on surveys of 23 major retailers. Thirteen of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSMs) operators. The remaining 10 are online retailers. By offline retail channel, sales at hypermarkets (up 0.2 percent) and department stores (up 2.3 percent) posted growth for the first time since the Seollal holiday season in January, led by high-priced items and increased revenue per visit. Convenience stores inched down 0.2 percent, whereas SSM operators (up 1.0 percent) maintained their upward trajectory for the third consecutive month, driven by the steady rise of visitors. By category, offline sales expanded in areas like food products (up 1.0 percent) and luxury goods (up 8.1 percent) such as jewelry and watches. In contrast, home appliances/culture (down 7.8 percent), kids/sports (down 2.5 percent), and fashion/miscellaneous (down 3.7 percent) experienced further slowdowns. As for online sales, services (up 37.3 percent) and food products (up 18.2 percent) retained solid growth on the backs of demand for food deliveries, e-coupons, travel packages, and cultural goods. However, fashion/clothing (down 4.6 percent) and sports (down 12.7 percent) continued their contraction.   date2025-06-25

Trade Minister Yeo Visits Washington D.C. for High-Level Trade Talks

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) will visit Washington D.C. on June 22, 2025—his first trip since taking office—to engage in ministerial-level Korea-U.S. consultations with U.S. Trade Representative Jamieson Greer and Secretary of Commerce Howard Lutnick. During the meeting, Trade Minister yeo will present Korea’s position on the U.S. tariff measures and discuss mutually beneficial solutions. Trade Minister Yeo will also meet members of the U.S. Congress to seek support for a stable and predictable environment for Korean businesses investing in the U.S., particularly as lawmakers are considering the “One Big Beautiful Bill Act,” which contains proposed amendments to tax credits under the Inflation Reduction Act of 2022 (IRA). Trade Minister Yeo stated that he step up efforts to find a mutually beneficial solution on tariff measures through in-depth consultations with the U.S. side. In view of Korea and the United States’ close economic and industrial ties, he will use this visit to secure more support for Korean companies operating in the U.S. market. Meanwhile, Korea’s Deputy Minister for International Trade and Investment Park Jung-sung will accompany Trade Minister Yeo to Washington D.C. to lead the third round of Korea–U.S. technical discussions with USTR from June 24 to 26, 2025. Following the launch of Korea’s U.S. trade negotiations Task Force, Deputy Minister Park now serves as the senior official overseeing the working-level dialogues with the United States. In this round, the TF and relevant ministries will aim to reach mutually acceptable solutions on issues of interest to both sides. date2025-06-23

Korea Set to Localize 30% of CNC Systems by 2032

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) announced on June 18, 2025, that KCNC succeeded in developing a Korean-made computerized numerical control (CNC) systems, a core technology used in the majority of Korea’s machinery and equipment processing.  CNC utilizes computerized systems to precisely control machining processes such as cutting, milling, and pressing, and is mainly installed in manufacturing equipment for producing machinery. While CNC is a key component of the machinery industry, developing the system is technically demanding, and companies in Germany, Japan, and the U.S. account for more than 80 percent of the global CNC market. With KCNC’s successful development of a CNC system, the industry is anticipating the Korean-made CNC systems to capture at least 30 percent of the domestic market by 2032. The plans to develop CNC began emerging in earnest in  2019, when materials, parts, and equipment (MPE) supply chains started gaining recognition for their importance. The plans were also triggered by concerns that any disruption in CNC supply— the entirety of which Korea was dependent on imports—may halt production lines nationwide across the manufacturing sector. CNC development calls for simultaneous advances in various hardware and software technologies, including the controller’s main body, motor, and interface, making it difficult for any single company to take on the project alone. Accordingly, MOTIE launched a consortium led by the Korea Institute of Machinery & Materials, bringing together more than 20 companies, research institutes, and academic experts. Participants later established KCNC in the form of a joint venture for technological development and commercialization. After five years of development, field operators and experts conducted an objective evaluation in May 2025, in which they found that the developed CNC system has reached performance levels comparable to that of other advanced countries in key performance indices, such as machining error and surface quality. However, improvements are still needed in areas such as interface user friendliness and range of functions offered. Korea currently relies on imports for 95 percent of its CNC supply, and even the remaining five percent of domestic products require foreign technology for core components. The newly developed CNC system is expected to substantially stabilize supply chains for Korean manufacturers and generate significant economic benefits. Replacing 30 percent of domestic and overseas CNC demand with Korean-made products is expected to create an annual economic value of around KRW 200 billion, equivalent to approximately USD 146 million. Swift after-sales service and customized product development are some added merits of the localization. Starting July, KCNC will enter a one-year demonstration phase for commercialization. The tests will cover high-speed and repetitive procedures, machining with various materials and tools, equipment durability, and reliability in real-world production. Four major buyer companies, which account for over 90 percent of CNC systems demand, are to participate in the demonstration process. These companies have already submitted letters of intent indicating that they will sign purchase agreements if demonstration results meet the specifications. Once the demonstration phase is completed successfully, the Korean-made CNC systems will be up for purchase beginning in 2026, with relevant industries forecasting that the systems will secure over 30 percent in domestic market share by 2032. date2025-06-18

Eco-friendly auto sales surpass conventional cars in May

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s domestic automobile sales for the month of May 2025 increased 0.4 percent year-on-year to 141,865 units.  Eco-friendly vehicles took up 52 percent of total domestic automobile sales, surpassing the sales of internal combustion engine cars for the first time. The number of Korean electric vehicles (EVs) sold in the domestic market also soared 58.8 percent, thanks to the wider array of consumer choices with the recent rollout of new models across different car segments. Monthly automobile exports reached $6.2 billion, entering the $6 billion thresholds for the fourth consecutive month and recording second highest in exports for May. Eco-friendly vehicle exports hit an all-time high of 75,184 units (up 10.2 percent), driven by solid demand for hybrid electric vehicles (HEVs). Meanwhile, domestic automobile production declined 3.7 percent to 358,969 units.   date2025-06-17

Korea and Netherlands launch Future Chips Academy 2025

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) and the Korea Institute for Advancement of Technology (KIAT) will launch the Korea-Netherlands Future Chips Academy 2025 on June 16–20, 2025, in the Netherlands to promote bilateral exchange in fostering high-level talent in advanced semiconductors. Now in its second year, the Future Chips Academy is a joint Korea-Netherlands education program based on the two countries’ semiconductor business cooperation and is designed to cultivate highly-level global talents in advanced semiconductor technologies. This year, 50 master’s and doctoral students from six semiconductor-specialized graduate schools in Korea will visit leading Dutch institutions and companies such as ASML, NXP Semiconductors, imec the Netherlands (IMEC), and Eindhoven University of Technology (TU/e), where they will take part in various programs such as lectures and a team project challenge. The program is expected to help Korean researchers deepen their understanding of the latest advanced chip technology trends and further strengthen Korea’s semiconductor R&D capacity. This year’s Future Chips Academy includes in-depth discussions on research cooperation and educational approaches between Korea and the Netherlands under the theme of future semiconductors. Expert lectures at local companies are also scheduled on topics including patterning technology and automotive chips. On the final day, students will consolidate what they have learned through the team project challenge and propose creative ideas for semiconductor technology development. In the coming months of July and August 2025, Korea Advanced Institute of Science and Technology (KAIST) and the Korea Semiconductor Academy are slated to engage in exchange programs with the Netherlands’ Eindhoven University of Technology and Delft University of Technology, respectively. In September 2025, 30 outstanding graduates of the Korea Semiconductor Academy will also take part in a five-day education program in the Netherlands, giving them an opportunity to build practical knowledge and broaden their perspective. date2025-06-16

Korea’s ICT exports climb 9.6% in May

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) announced today that Korea’s exports and imports of information and communications technology (ICT) goods for the month of May 2025 advanced 9.6 percent and 0.5 percent year-on-year, respectively, to USD 20.9 billion and $11.5 billion. The trade balance stood at a surplus of $9.4 billion. It is significant that ICT exports reached record highs for the month in spite of recent global trade uncertainties. By item, exports of semiconductors (up 21.2 percent), mobile phones (up 2.8 percent), computers/peripherals (up 1.7 percent), and communication devices (up 10.2 percent) achieved gains, whereas those of displays declined (down 17.5 percent). Semiconductor exports rose as fixed prices of major items like DRAMs and NAND flash rebounded and high value-added memory chips like HBMs and DDR5s retained strong growth momentum. Mobile phones expanded on the backs of demand for finished smartphone products and computers/peripherals increased in step with revived demand for solid-state drives (SSDs). Exports of communication devices were driven by rising demand for automotive communication systems in the U.S. and 5G equipment in India. In contrast, displays were negatively affected by trade uncertainties and sluggish global demand. By region, Korea’s May ICT exports increased to destinations like the U.S. (up 7.2 percent), Vietnam (up 15.7 percent), EU (up 1.5 percent), and Japan (up 12.5 percent), while those to China (including Hong Kong) (down 6.8 percent) contracted. Meanwhile, the uptick in ICT imports was led by items like computers/peripherals (up 37.4 percent), powered by AI-driven demand for datacenter GPUs (up 51.1 percent) as well as midrange and mainframe computers (up 130 percent).   date2025-06-12