Ministry of Trade Industry and Resources

Korea’s automobile exports recover growth in February

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that Korea’s automobile exports, production, and domestic sales for the month of February 2025 all posted double-digit growth year-on-year, with the production volume surpassing 350,000 units, a first in 11 years since February 2014. Korea’s monthly automobile exports volume reached 232,978 units (up 17.3 percent), entering the six billion thresholds in value for the first time for February with USD 6.1 billion (up 17.8 percent). The rebound and trade surplus are attributable to the strong performance in overseas markets like the EU (up 22.6 percent) and the Middle East (up 38.2 percent), as well as to the sharp increase in hybrid electric vehicle (HEV) exports (up 61.7 percent). Domestic sales jumped 14.8 percent to 132,855 units, thanks to the individual tax consumption cuts and early enforcement of electric vehicle (EV) subsidies in accordance with government measures to enhance the competitiveness of eco-friendly cars and secondary batteries (announced January 15). As a result, domestic EV sales for February skyrocketed 298.1 percent to 14,265 units.   date2025-03-18

Korea’s ICT exports rebound in February

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) of the Republic of Korea announced on March 16 that Korea’s exports and imports of information and communications technology (ICT) goods for February 2025 climbed 1.2 percent and 5.6 percent, respectively, to USD 16.7 billion and $10.9 billion. The trade balance stood at a surplus of $5.8 billion. February exports achieved a rebound from the downtick in January and came in second highest for the month, with mobile phones (up 33.3 percent), computers/peripherals (up 26.9 percent), and communications devices (up 74.1 percent) softening the fall from semiconductors (down 3.0 percent) and displays (down 5.1 percent). Semiconductor exports suffered a slight dip despite the sound performance of high value-added memory chips like high-bandwidth memory chips (HBMs) and DDR5s as general-purpose memory chips like NAND flash dropped in both unit price and production volume.  Displays receded as a result of panel display oversupply and sluggish demand for home appliances in Korea’s major export market. Meanwhile, mobile phone exports increased on the backs of growing demand for parts from overseas production bases in regions such as China, Vietnam, and India. Computers/peripherals enjoyed growth, thanks to stronger demand for storage devices fueled by wider investments in servers and datacenters in the U.S. and the EU. Communications devices exports were led by rising demand for navigation auxiliary equipment in India. By destination, ICT exports to Vietnam (up 15.6 percent), the U.S. (up 11.5 percent), and Taiwan (up 124.3 percent), and India (up 54.9 percent) expanded, whereas those to China (including Hong Kong) (down 19.6 percent), the EU (down 7.6 percent), and Japan (down 5.7 percent) contracted.   date2025-03-17

Korea Holds 35th Energy Commission Meeting

Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy (MOTIE)  held the 35th Energy Commission meeting on March 14, 2025, to deliberate on three agenda items: the Energy Supply and Demand Plan for Emergencies, the Third Basic Plan for Gas Safety Management, and the First Basic Plan for Electrical Safety Management. The Korean government has been preparing response measures against emergency situations involving disruptions to the national energy supply by establishing the Energy Supply and Demand Plan for Emergencies under the Energy Act. In light of the rapidly changing energy supply and demand landscape due to Korea’s shifting energy mix, geopolitical uncertainties following the Russia-Ukraine war, and climate anomalies, the government has laid out response measures to various emergency scenarios. A key feature of the newly established Energy Supply and Demand Plan for Emergencies is that it reorganizes Korea’s energy mix set from electrical power, crude oil, gas, and coal to electrical power, crude oil, gas, and thermal power, reflecting lower coal demand and rising thermal energy demand. The plan also expands the scope of power emergency management to cover not only supply and demand but also the electrical power system, as the growth of renewable energy use has increased power system volatility. Since 2015, the government has been renewing the Basic Plan for Gas Safety Management every five years due to the flammability and explosion risks of gas. Compared with the Second Basic Plan for Gas Safety Management established in 2020, the third plan calls for developing safety standards for new hydrogen technologies and expanding related infrastructure in preparation for Korea’s growing hydrogen economy. In view of the increasing number of old gas facilities, the government will also deploy information technology actively to shift toward a digital-based, continuous safety management system and strengthen voluntary safety management by the private sector. Korea’s electricity use is rising with the spread of power-intensive facilities such as datacenters, and damage from electrical accidents is becoming more complex and larger in scale. In response to these changes, the government established the First Electrical Safety Management Basic Plan in 2025, outlining measures to enhance safety management for vulnerable areas, including multipurpose facilities, industrial complexes, and socially disadvantaged groups. It will also promote flexible, field-oriented electrical safety management and safety technology innovation, while supporting the growth of the electrical safety industry by building a private-led foundation for electrical safety. Minister Ahn stated that the government will continue to innovate the safety management system in line with changing conditions, including the growth of the hydrogen economy and rising electricity demand from advanced industries, to ensure that people can use energy safely. date2025-03-14

Korea and Mongolia Strengthen Full-Cycle Cooperation on Rare Metals

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) held the second Korea-Mongolia Rare Metals Cooperation Joint Committee  meeting in Seoul on March 12, 2025, to strengthen bilateral cooperation on rare metals supply chains. The Committee was held as a follow-up to the signing of a memorandum of understanding (MoU) on rare metals supply chain cooperation signed during the Mongolian Prime Minister's visit to Korea in February 2023. Deputy Minister for Energy Policy Lee Ho-hyeon led the Korean delegation, which included the Ministry of Foreign Affairs and relevant organizations. Mongolia’s State Secretary of the Ministry of Industry and Mineral Resources Javkhlanbaatar Sereeter led the Mongolian delegation, joined by the National Geological Survey and the Institute of Geology. The two sides discussed various measures for rare metals cooperation. The Korea-Mongolia Rare Metals Cooperation Center, one of the two countries’ key rare metals cooperation projects, is expected to complete the installation of equipment and facilities by November 2025. The center will serve as a base for Korean companies seeking to enter Mongolia’s mineral development sector and help address key bottlenecks in rare metals technology development.  The Korea Institute of Geoscience and Mineral Resources (KIGAM) and Mongolia’s Geological Center for Research and Analysis (GCRA) will jointly explore critical minerals to identify rare metal reserves in Mongolia and conduct demonstrations of Korean companies’ exploration technologies. The Korea Institute of Energy Technology Evaluation and Planning (KETEP) plans to launch an R&D project to expedite Mongolia’s tin mining development and contribute to Korea’s supply chains by applying smart mining technologies suitable for Mongolian sites and securing beneficiation technologies for a pilot plant. Going forward, Korea and Mongolia plan to pursue full-cycle cooperation from exploration to development, focusing on commercially promising rare metals to help stabilize Korea’s supply chains and develop Mongolia’s mineral resources. date2025-03-12

Minister Ahn Discusses Global Trade Cooperation with Australian Trade Minister

Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy (MOTIE) held a videoconference meeting with Australia’s Minister for Trade and Tourism Don Farrell on March 11, 2025, during which they exchanged views on the global trade environment and agreed to closely cooperate on securing supply chain stability. Noting the steady expansion of the Korea-Australia trade and investment based on their mutually complementary trade structures, Minister Ahn called for advancing cooperation beyond traditional areas such as energy and resources into forward-looking areas such as supply chains, clean economy, and digital sectors. Moreover, Minister Ahn requested the Australian government’s interest and support in facilitating Korean companies’ investment projects in Australia, including those involving critical minerals. He also called for the active participation and cooperation of Australian government and businesses for Korea’s successful hosting of APEC 2025 as this year’s APEC chair. date2025-03-11

Korea’s Ambassador for International Investment Cooperation to Conduct U.S. Outreach with Six Major Think Tanks

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) announced on March 11, 2026, that Ambassador for International Investment Cooperation Choi Joong-kyung is visiting Washington D.C. from March 10 to 14, 2026, to conduct outreach activities with major U.S. institutions to strengthen Korea-U.S. economic, industrial, and investment cooperation. The Korean government appointed Ambassador Choi for International Investment Cooperation this January as an ambassador-at-large to help raise Korea’s external credibility by explaining the country’s solid economic fundamentals to the international community. Ambassador Choi will visit think tanks, the U.S. Chamber of Commerce, and companies to expand the scope of bilateral cooperation through discussions on promising areas for industrial cooperation. First, a seminar for promoting Korea-U.S. industry and investment cooperation will be held on March 11, 2026, at the Heritage Foundation, one of the leading U.S. think tanks. At the seminar, Ambassador Choi will present the potential of the Korean economy and its industrial competitiveness to U.S. experts, business leaders, and special correspondents. He will also highlight that the two countries are well-suited partners for economic and industrial cooperation as allies that share the values of democracy and free markets. In his keynote address, Ambassador Choi stated, “The United States has advanced technology while Korea has world-class manufacturing capacity. He added that the two countries can create mutually beneficial synergy based on their complementary industrial structures. He proposed that shipbuilding, defense, AI and semiconductors, nuclear power, energy, and batteries are six promising areas of bilateral industrial cooperation, maintaining that both countries will be able to enhance their global competitiveness by combining the U.S.’ cutting-edge technologies and demand for security cooperation with Korea’s manufacturing infrastructure and highly skilled workforce. Ambassador Choi adds that policy continuity and legal stability are essential for Korean companies to continue expanding investments in the U.S. in areas such as semiconductors, batteries, and other manufacturing sectors, underscoring the need for transitional measures in adjusting existing policies for projects in which investments have already begun. During his visit, Ambassador Choi also plans to meet with key experts at the U.S. Chamber of Commerce, Peterson Institute for International Economics (PIIE), Korea Economic Institute of America (KEI), Brookings Institution, and the Center for Strategic and International Studies (CSIS) to discuss strategic bilateral cooperation across politics, economy, security, and international environment. date2025-03-11

Korea and EU Hold 12th FTA Trade Committee Meeting

Minister for Trade Inkyo Cheong of the Ministry of Trade, Industry and Resources (MOTIE, Minister Ahn Duk-geun) and European Commissioner for Trade and Economic Security Maroš Šefčovič co-chaired the 12th Korea-EU FTA Trade Committee meeting on March 10, 2025, in Brussels, Belgium. Delegations from both sides attended the meeting, including the European Commission’s Deputy Director-General for Trade Maria Martin-Prat. At the meeting, the two sides discussed sanitary and phytosanitary (SPS) measures, electric vehicle (EV) subsidies, market access, and trade and sustainable development (TSD). Korea requested the EU’s swift implementation of import approval procedures for Korean fresh beef and a review of France’s EV subsidy policy. It also raised  market access issues concerning the EU Battery Regulation, steel safeguard measures, the fluorinated greenhouse gas (F-gas) regulation, and the Carbon Border Adjustment Mechanism (CBAM). The two sides agreed on the need to discuss supply chains and other emerging trade issues and decided to launch the Committee on Emerging Trade and Economic Issues under the Korea-EU FTA. The meeting also confirmed the conclusion of the Korea-EU Digital Trade Agreement (DTA), which will undergo legal scrubbing and other domestic procedures. date2025-03-11

ASEAN-ROK Think Tank Dialogue (AKTD) Officially Launched Korea-ASEAN Economic and Trade Cooperation Platform

The Ministry of Trade, Industry and Energy (MOTIE, Minister Ahn Duk-geun) delegation, led by Kim Jong-chul, Director-General for Trade Cooperation, visited Jakarta, Indonesia from March 6 to March 7, 2025, to attend the kickoff meeting of the ASEAN-ROK Think Tank Dialogue on Economic and Trade Policy (AKTD) and the opening ceremony of the Korea-Southeast Asia Policy Cooperation Center. The visit was part of efforts to strengthen multilateral economic policy cooperation with ASEAN. The delegation also visited the Coordinating Ministry for Economic Affairs of Indonesia to discuss cooperation on major trade issues, including global oversupply, and review key bilateral economic cooperation issues. The AKTD kickoff meeting was held at Hotel Mulia in Jakarta on March 7, 2025. AKTD is a public-private economic policy research project jointly led by the Korea Institute for Industrial Economics & Trade (KIET) and the Korea Chamber of Commerce and Industry (KCCI). Korea officially proposed the initiative at the 25th ASEAN-ROK Summit held in Laos in October 2024. Through AKTD, think tanks from Korea and ASEAN will conduct joint research on regional economic and trade issues to help strengthen ASEAN countries’ policy-making capabilities and contribute to balanced economic development. At the kickoff meeting, participants discussed research topics, methodologies, and the implementation schedule. ASEAN think tanks attending the meeting sshared the view that AKTD could create synergies by combining Korea’s industrial policy experience with ASEAN’s growth potential. In his congratulatory remarks, Director-General Kim said, "I hope AKTD will establish itself as a leading policy platform for Korea-ASEAN economic cooperation through substantive activities and serve as a practical channel for supporting balanced economic development in ASEAN." Earlier that day, the opening ceremony of the Korea-Southeast Asia Policy Cooperation Center was held. Established by KIET to conduct ASEAN-focused policy research and support Korean companies operating in the region, the center will carry out country- and industry-specific policy research on ASEAN. It will also serve as a venue for public-private-academic policy dialogues involving Korean businesses in the region, ASEAN governments, and research institutions. Through this initiative, the center aims to provide policy recommendations to help reflect the practical needs of Korean businesses in ASEAN’s industrial policies and foster closer economic policy cooperation with ASEAN. In addition, the MOTIE delegation met with Irwan Sinaga, Director-General for Bilateral Cooperation at Indonesia’s Coordinating Ministry for Economic Affairs, to hold in-depth discussions on cooperation across trade and investment, supply chains, and high-tech industries. The two sides agreed to convene the Korea-Indonesia Economic Cooperation Committee, a high-level economic cooperation channel between MOTIE and the Coordinating Ministry for Economic Affairs, as soon as possible to comprehensively review bilateral economic cooperation issues, including challenges faced by businesses, and seek practical support measures. MOTIE will continue to support ASEAN-related economic policy cooperation activities led by private research institutions and think tanks, such as AKTD and the Korea-Southeast Asia Policy Cooperation Center. It will also work to further expand bilateral and multilateral economic cooperation with ASEAN—a key region in the Global South—by maintaining close government-to-government communication with Indonesia and other key partner countries date2025-03-07