Ministry of Trade Industry and Resources

K-Fashion, Food, and Beauty Industries to Drive the Next Phase of K-Exports

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that Trade Minister Yeo Han-koo visited MUSINSA Standard Seongsu, a leading K-fashion retailer, on Wednesday, November 12, to examine the current status of K-fashion exports. He also held a roundtable with representatives from major retail and distribution companies, including MUSINSA, Delivered Korea, Coupang, CJ Olive Young, and Kurly, to discuss industry challenges and strategies for expanding exports of K-consumer goods. The visit and discussions were organized to explore ways to promote consumer goods exports through experienced retail platforms amid the global rise of K-culture and growing demand for K-consumer products. MOTIR plans to strengthen support for fostering K-consumer goods industries as new growth engines for exports. First, the ministry will promote premium branding of K-consumer goods by enhancing marketing efforts linked to the Korean Wave. It plans to expand promotional opportunities through major events such as K-pop concerts and the Korea Brand & Entertainment Expo (KBEE) while allowing trend-setting retail platforms to take the lead in planning and executing marketing initiatives. Second, MOTIR will work to resolve export challenges related to logistics, certification, and intellectual property rights. In cooperation with KOTRA’s overseas trade offices, the ministry will provide tailored logistics infrastructure for consumer goods and expand consulting and information services on foreign certifications, such as halal standards. Lastly, the ministry will support the expansion of direct-to-consumer (D2C) exports through online platforms. It aims to help Korean retailers grow into global platforms by assisting with the establishment and promotion of global online malls, as well as supporting partnerships with local logistics providers, and facilitating customs clearance and certification procedures. Trade Minister Yeo stated, “Our retail platforms serve as a key bridge connecting K-consumer goods with overseas consumers. As capable Korean retailers expand globally, more products from Korean SMEs are reaching customers worldwide. To further establish K-exports as a new growth engine, MOTIR will incorporate today’s discussions into the upcoming ‘Plan to Expand Exports of K-Consumer Goods Linked to the Korean Wave,’ which will be announced later this year.” date2025-11-13

ASML Completes Hwaseong Campus, Strengthening Cooperation in Advanced Semiconductor Technology

Kang Gam-chan, Director General for Trade and Investment at the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan), attended ASML’s “Hwaseong Campus Opening Ceremony” held on Wednesday, November 12, in Hwaseong-si, Gyeonggi-do. ASML, a leading global semiconductor equipment company based in the Netherlands, exclusively manufactures extreme ultraviolet (EUV) lithography equipment—essential for ultra-fine semiconductor processing—and supplies it to major companies worldwide, including Samsung Electronics, SK hynix, and TSMC. The newly completed ASML Hwaseong Campus serves as the company’s key hub in Asia, integrating a remanufacturing center for advanced equipment components such as DUV and EUV lithography systems, along with a training center for advanced technology transfer. The campus is expected to enhance supply chain stability in Korea’s semiconductor industry and advance technology localization. Furthermore, ASML plans to use the campus to strengthen technical cooperation and knowledge exchange with Korean semiconductor firms such as Samsung Electronics and SK hynix, while building an ecosystem linking Korea’s materials, parts, and equipment companies—thereby advancing a mutually beneficial cooperation model with Korea’s semiconductor industry. In his congratulatory remarks, Director General Kang emphasized that “foreign investment is a key driver of Korea’s economic innovation and growth.” He added, “The government will continue to foster a favorable investment environment for global companies by expanding cash grants, enhancing location and tax incentives, and improving regulations.” He further noted, “Close cooperation among local governments, the central government, and partner countries is crucial for the advancement of Korea’s semiconductor industry. Today’s opening ceremony is an excellent example of such collaboration.” He concluded, “I hope that cooperation and investment in the semiconductor industry between Korea and the Netherlands will continue to deepen in the future.” date2025-11-13

Korea to Strengthen Global Competitiveness in Nanotechnology Standards

The Korean Agency for Technology and Standards (KATS, President Kim Dae-ja) announced that, in cooperation with the Korea Carbon Industry Promotion Agency and the Korea Research Institute of Standards and Science, it will host the 2025 ISO/TC 229 (Nanotechnologies) Plenary Meeting from Monday, November 10, to Friday, November 14, at Songdo ConvensiA in Incheon. ISO/TC 229, a technical committee under the International Organization for Standardization (ISO), develops international standards for nanotechnologies applied across cutting-edge industries such as biotechnology, displays, and quantum technology. This year marks the 20th anniversary of the committee’s establishment. The plenary meeting will bring together about 100 participants from more than 20 countries, including the United Kingdom, Germany, the United States, Japan, and China, as well as Korean industry and academic experts, to discuss global standardization issues related to nanotechnology measurement standards, health and safety, and sustainability. Korea is currently leading the development of ten international standards in areas including nanomaterial particle characterization, nanoproduct applications, and health and safety assessments of nanotechnologies. KATS expects that hosting this plenary meeting will increase the likelihood of the ten Korea-proposed standards being adopted as formal international standards, thereby strengthening the global competitiveness of Korean companies utilizing nanotechnology—including those in the display, future mobility, and biotechnology sectors. President Kim Dae-ja stated that KATS will continue to expand the development of international standards and Korean Industrial Standards (KS) in the nanomaterials sector to enhance Korea’s competitiveness in advanced industries, while also contributing to industrial development in health- and safety-related fields. date2025-11-10

Korea and the UK Hold Sixth Round of FTA Upgrade Negotiations

Amid growing calls to pursue proactive trade policies to overcome global trade uncertainty and strengthen Korea’s export-driven economy, the sixth round of negotiations to upgrade the Korea–UK Free Trade Agreement (FTA) is being held in Seoul from Monday, November 10, to Friday, November 14. The Office of Trade Negotiations under the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that delegations comprising around 60 officials from both countries will participate in the discussions, led respectively by Kwon Hye-jin, Director General for FTA Negotiations at MOTIR, and Adam Fenn, Deputy Director at the UK Department for Business and Trade, as chief negotiators. Following the United Kingdom’s withdrawal from the European Union (Brexit), Korea and the UK signed the Korea–UK FTA, which took effect in 2021, based on the Korea–EU FTA. Since launching the first round of upgrade negotiations in January 2024, the two sides have held five official rounds and multiple intersessional meetings aimed at easing strict rules of origin, expanding bilateral trade and investment, and establishing a future-oriented cooperation framework to address supply chain disruptions. The sixth round will focus on remaining issues related to services and investment. Trade Minister Yeo Han-koo, who visited the negotiation venue to encourage both delegations, stated, “The upgraded Korea–UK FTA will serve as a modern, comprehensive agreement encompassing not only additional market access but also emerging trade issues such as supply chain resilience and digital trade norms.” He urged the negotiators to make every effort to reach consensus on the remaining issues and conclude the negotiations as swiftly as possible.   date2025-11-10

K-Consumer Goods Take Center Stage in New York as Korean Wave Captivates the U.S.

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) and the Korea Trade-Investment Promotion Agency (KOTRA, President and CEO Kang Kyung Sung) held the “Korea Brand & Entertainment Expo (KBEE) 2025 NEW YORK” from November 6 to 8 at the American Dream Mall in New Jersey. Now in its 25th edition, the KBEE leverages the growing global popularity of the Korean Wave to promote Korea's promising consumer goods and services, support their entry into overseas markets, and enhance brand recognition. This year’s edition—the first-ever KBEE held in North America—was designed to expand the global reach of K-consumer goods and provide small and medium-sized enterprises (SMEs) with more opportunities to engage directly with local consumers and buyers by linking K-culture and lifestyle products. The KBEE 2025 NEW YORK brought together 335 companies from Korea and abroad and attracted approximately 20,000 visitors over three days. About 100 Korean companies specializing in premium consumer goods—including K-beauty, food, and fashion—held export consultations with 235 buyers from North America and Latin America. The opening ceremony was attended by Lee Sang-ho, Acting Consul General of the Republic of Korea in New York, and KOTRA President Kang Kyung Sung. The event featured celebratory performances and fan events with Hallyu ambassadors Ha Ji-won, Taemin, and Hwasa, further heightening the excitement. With K-content’s soaring popularity in the United States, demand for K-consumer goods continues to grow rapidly. In 2024, K-beauty ranked first among imported cosmetics in the United States, while exports of K-food—led by products such as ramen and dried seaweed—increased by an annual average of 10 percent over the past decade, establishing a strong foothold in the local market. MOTIR strategically leveraged the KBEE to support the overseas expansion of various Korean consumer goods and content, including K-food, K-beauty, and K-merchandise. To expand retail entry and sales, the ministry also organized O2O-based showcases in collaboration with major local distribution networks. In addition, MOTIR plans to hold another KBEE in Kuala Lumpur, Malaysia, in December to further diversify export markets for K-consumer goods. A MOTIR official stated, “The export strategy connecting K-culture and K-consumer goods in North America has created meaningful momentum for SMEs seeking to expand overseas. We will continue to diversify export markets through events such as the New York and upcoming Malaysia KBEEs, and strengthen policy support to help K-consumer goods grow into global brands.”   date2025-11-10

Korea and Australia Launch Joint Project to Strengthen Supply Chain Capabilities in Developing Countries

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) announced that it will jointly implement the IMPACT Project (Supply Chain Identification, Monitoring, Preparation and Action Capability Training Project) with the Australian government to enhance supply chain crisis response capabilities in developing countries across the Indo-Pacific region. As the chair of the Crisis Response Network (CRN) under the Indo-Pacific Economic Framework for Prosperity (IPEF), Korea successfully hosted a supply chain crisis response simulation exercise in Seoul in October. Building on that achievement, MOTIR is expanding regional supply chain cooperation through the IMPACT Project, which has been co-developed with the Australian government since June last year. Recognizing the need to strengthen developing countries’ supply chain capabilities during IPEF negotiations, Korea and Australia secured the necessary funding through close consultations and developed a training program aimed at improving practical crisis response capacity across the region. The IMPACT Project consists of three stages: (1) preliminary assessment of national supply chain capabilities, (2) local training, and (3) evaluation and follow-up measures. The local training sessions will provide practical education tailored to each country’s priorities, based on training materials jointly developed by Korea and Australia. Topics include identifying key supply chains, data-driven management, governance establishment, and disruption response. Starting with Indonesia and Thailand, MOTIR plans to deliver customized local training programs to a total of seven IPEF member countries—including Malaysia, the Philippines, Vietnam, India, and Fiji—by next year, helping to enhance their supply chain management and crisis response capabilities. Lee Jae-keun, Director General for New Trade Strategy and Policy at MOTIR, stated, “Following the recent crisis response simulation under the IPEF network, the IMPACT Project will serve as a practical follow-up initiative to strengthen developing countries’ operational capabilities and further stabilize supply chains across the region. As supply chain resilience in critical minerals and high-tech industries has become a global priority, this project will reinforce Korea’s role as a central partner in regional cooperation.”   date2025-11-10

K-Beauty Expands Global Reach with New Export Models

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) visited the headquarters of SILICON2, a cosmetics distribution company, on Thursday, November 6, to review Korea’s cosmetics export performance and hear firsthand from industry representatives about the challenges faced when entering global markets. Korea’s cosmetics exports reached a record USD 10.2 billion in 2024 and totaled USD 9.42 billion as of October 2025 (up 11.9 percent year-on-year). Export destinations are also diversifying beyond the U.S. and Japan to include Europe, the Middle East, and Latin America. SILICON2, a cosmetics distribution specialist that operates StyleKorean.com—Korea’s largest e-commerce platform for direct-to-consumer (D2C) exports of beauty products—features over 500 Korean beauty brands in 150 countries. The company also runs MOIDA, a chain of overseas stores located in the United States, the United Kingdom, France, and Indonesia, further expanding its global presence. MOTIR plans to provide comprehensive support to help the rapidly growing K-beauty industry, driven by the global popularity of the Korean Wave, expand its presence in international markets. First, to promote D2C exports, the ministry will introduce new programs next year to support the development of global online malls and delivery and payment service solutions. Second, through its consumer goods trade centers, MOTIR will offer hands-on assistance to Korean cosmetics companies in addressing challenges such as logistics, certification, and legal compliance when entering overseas markets. Lastly, the ministry will actively support participation in major international beauty exhibitions and facilitate entry into local and global online and offline distribution channels. Trade Minister Yeo Han-koo stated, “Korea’s cosmetics industry has strengthened its global presence with trendy products and innovative technologies, but growing protectionism and import regulations could pose challenges to future expansion. MOTIR will continue to identify and address these issues while fostering new export models, such as D2C exports, so that K-beauty can reach consumers around the world more directly.”   date2025-11-07

Korea to Invest KRW 940 Billion in Advanced Medical Device R&D Over Seven Years

The Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan), the Ministry of Science and ICT (MSIT, Deputy Prime Minister and Minister Bae Kyung-hoon), the Ministry of Health and Welfare (MOHW, Minister Jeong Eun Kyeong), and the Ministry of Food and Drug Safety (MFDS, Minister Oh Yu-kyoung) announced plans to launch the second phase of the Inter-Ministerial Advanced Medical Device R&D Program, investing a total of KRW 940.8 billion (KRW 838.3 billion in government funding and KRW 102.5 billion in private investment) over seven years from 2026 to 2032. The program aims to develop six game-changing medical devices that are world-first or world-leading and to localize 13 essential medical devices. This inter-ministerial initiative will support the entire R&D cycle—from basic and fundamental research to commercialization, clinical trials, and regulatory approval. In particular, it will focus on future growth areas such as AI- and robotics-based medical devices, strengthening global competitiveness and fostering the medical device industry as a national growth engine. Building on the success of the first-phase Inter-Ministerial Full-Cycle Medical Device R&D Program (2020–2024), the new initiative passed the preliminary feasibility study for national R&D programs in August 2025. During the first phase, a total of 467 projects were supported, resulting in 433 regulatory approvals (331 domestic and 102 overseas), 72 technology transfers, and 254 cases of commercialization over the past five years. Notable achievements include the localization of hemodialysis filters, previously fully imported, and the development of the world’s first AI-based stroke diagnostic-assistance software medical device. The government plans to continue full-cycle R&D support through this follow-up program to ensure these achievements are sustained. To that end, the four ministries held a joint briefing session on Wednesday, November 5, at the President Hotel in Jung-gu, Seoul, to present details of the program’s second phase. The session aimed to improve understanding among researchers from industry, academia, research institutes, and medical institutions and to encourage active participation. It covered the program’s main features, participation guidelines for 2026 projects, and key schedules, followed by a Q&A session and on-site feedback. The government emphasized that this initiative is a cross-ministerial collaboration to support the development of advanced medical devices as a national growth driver and reaffirmed its commitment to ongoing communication with researchers to reflect their input and ensure the program’s successful implementation.   date2025-11-06