Ministry of Trade Industry and Resources

MOTIR Explores Ways to Expand Korea–Central Asia Economic Cooperation

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the 5th Central Asia Policy Forum at Lotte Hotel World in Seoul on Tuesday, December 2, attended by more than 50 representatives from the government, relevant organizations and associations, companies operating in Central Asia, and academia. This Forum was organized to discuss ways to translate cooperation prospects into tangible outcomes in light of Central Asia’s potential in supply chains grounded in key resources such as energy and minerals, its strategic value as a logistics hub in the Eurasian region, and complementary industrial structures of Korea and Central Asia.  In his opening remarks, Park Jung-sung, Deputy Minister for Trade at MOTIR, noted that “Central Asia is an essential partner in strengthening Korea’s competitiveness in advanced industries and securing strategic resources.” He added that “the government will develop cooperation models tailored to each country’s needs, with a focus on deepening supply chain partnerships for critical minerals, expanding cooperation in energy and plant projects, and improving the investment environment.” He also emphasized that “today’s forum serves as an important milestone in preparing for next year’s inaugural Korea–Central Asia Summit while helping elevate bilateral cooperation to a new stage.” On this occasion, MOTIR presented ministerial commendations to three individuals who contributed to advancing Korea–Central Asia trade cooperation: Lee Dong-eun, Principal Researcher at the Korea Institute for Advancement of Technology (KIAT); Kim Bum-sung, Principal Researcher at the Korea Institute of Industrial Technology (KITECH); and Rukhullo Zikrillaev, Counsellor at the Embassy of the Republic of Uzbekistan in the Republic of Korea. date2025-12-02

Korea–Serbia Hold First Official CEPA Negotiations

Amid rising global protectionism, the stability of supply chains and access to emerging markets have become increasingly important for Korean companies. Against this backdrop, the first official round of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between Korea and Serbia—an EU candidate country and a growing manufacturing and logistics hub in the Balkan region—will be held in Seoul from Monday, December 1, to Thursday, December 4. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that more than 60 delegates from both countries will participate in the negotiations. Korea will be represented by Son Ho-young, Acting Director-General for FTA Negotiations, and Serbia by Olivera Jocic, Acting Assistant Minister at the Ministry of Internal and Foreign Trade, who will serve as chief negotiators. During this first round, the two sides will discuss ten areas, including tariff concessions, rules of origin, customs procedures, and economic cooperation. Following the September 2024 declaration launching the negotiations, the two governments conducted prior consultations to align the structure of the agreement and the main scope of the discussions. As a result, this round is expected to deliver substantive progress, including setting the scope and level of market opening. Acting Director-General Son stated, “Serbia is a strategic gateway linking markets adjacent to the EU with the Balkan region. With more Korean companies entering Serbia in areas such as electric vehicles, batteries, and renewable energy, a CEPA with Serbia will play an important role in improving market access and mitigating supply chain risks for Korean businesses.” He added, “The government will work to ensure swift and substantive progress in the negotiations.” date2025-12-01

Korea and Canada Discuss Economic and Trade Issues, Including Canada’s Steel TRQ Measures

Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), met with Alexandra Dostal, Senior Assistant Deputy Minister for the Strategy and Innovation Policy Sector at Innovation, Science and Economic Development Canada (ISED), in Seoul on Monday, December 1. The two officials discussed key economic and trade issues between Korea and Canada. Deputy Minister Park expressed strong regret over Canada’s announcement on Wednesday, November 26, to tighten its steel tariff rate quota (TRQ) regime. Under this measure, Canada will reduce the steel import quota allocated to its FTA partners, including Korea, from 100 percent to 75 percent of their 2024 import volumes and impose a 25 percent tariff on steel derivative products. He urged Canada to withdraw the measures swiftly. Deputy Minister Park stressed that “these measures are highly likely to violate trade laws and run counter to the spirit of the Ottawa Group, which Canada leads as a champion of the rules-based multilateral trading system.” He further noted concerns that the measures could have serious implications for Korean companies’ ongoing or planned investments in Canada. He asked that Canada take particular care to avoid undermining opportunities for potential economic and strategic cooperation between the two countries. Deputy Minister Park also noted that Korea and Canada have substantial cooperation potential across a wide range of sectors—including defense, AI, automobiles, batteries, critical minerals, and energy—and that Korean businesses have been shortlisted for Canada’s submarine procurement project. He expressed hope that the two countries will continue to advance a reliable and mutually beneficial industrial supply chain, given their long-standing roles as leading defenders of the rules-based trading system. date2025-12-01

Korea’s Exports Hit Record High in November

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced on December 1 that Korea’s exports in November 2025 rose 8.4 percent year-on-year to USD 61.0 billion, the highest on record for November and marking the sixth consecutive month of growth, while imports increased 1.2 percent to $51.3 billion. The trade balance posted a surplus of $9.7 billion. Cumulative exports for January–November reached $640.2 billion, setting a new record for the period for the first time in three years. On a daily average basis, exports came to $2.7 billion, up 13.3 percent year-on-year and the highest November level on record. By item, six of Korea’s 15 major export categories posted growth. Semiconductor exports jumped 38.6 percent to $17.3 billion, an all-time monthly high, driven by strong data-center demand for high-value memory and rising memory prices. Automobile exports rose 13.7 percent to $6.4 billion on strong sales of hybrid and internal combustion vehicles. Exports of wireless communication devices increased 1.6 percent to $1.7 billion, supported by higher shipments of mobile phone components. Secondary battery exports rose 2.2 percent to $670 million, driven by ESS demand. In contrast, petroleum products exports fell 10.3 percent to $3.3 billion due to reduced shipments, while petrochemical exports declined 14.1 percent to $3.1 billion amid continued downward price pressure from global oversupply. By region, exports increased in five of Korea’s nine major markets. Exports to the United States were broadly flat, edging down 0.2 percent to $10.4 billion, as robust semiconductor and automobile shipments were offset by weaker exports of steel, general machinery, and auto parts amid tariff-related pressures. Exports to China rose 6.9 percent to $12.1 billion, supported by semiconductors, petroleum products, and general machinery, and remained above $11.0 billion for the third straight month. Exports to ASEAN increased 6.3 percent to $10.4 billion on semiconductor demand, while exports to the Middle East, CIS countries, and India also posted solid gains. Exports to the EU, Japan, and Latin America, however, declined across the board. MOTIR Minister JK (Jung-Kwan) Kim stated, “Korea’s exports continued their upward trajectory for the sixth consecutive month in November, a meaningful achievement that reflects the ability of Korean companies to turn challenges into opportunities, especially at a time when expanding global protectionism, including U.S. tariffs, is weighing on export conditions.” He added, “With the November 26 introduction of the Special Act for Korea–U.S. Strategic Investment Management, tariff-reduction requirements for automobile and parts makers have now been met, easing uncertainty over shipments to the U.S. market. The government will strengthen policy support to ensure Korea’s exports maintain their growth momentum into December and continue to play a central role in driving economic recovery and growth.” date2025-12-01

K-Battery to Power Korea’s Future Industries

The government convened the 8th National High-Tech Strategic Industry Committee on Friday, November 28, chaired by Prime Minister Kim Min-seok, to discuss plans to strengthen Korea’s rechargeable battery competitiveness, designate new strategic industry clusters, and expand the list of national high-tech strategic technologies. To reinforce Korea’s position amid the EV slowdown and China’s rapid catch-up, the government presented measures to secure leadership in next-generation battery technologies, strengthen the supply chain for key materials and minerals, and stimulate domestic demand to maintain a strong production base. In addition, the government will launch procedures to designate new specialized zones for rechargeable batteries, humanoid robotics, and advanced aviation engines, with a public call planned for December. It will also identify new national high-tech strategic technologies in areas such as nuclear energy, future mobility, and artificial intelligence. A demand survey will begin in December, followed by review and approval by the National High-Tech Strategic Industry Committee. Prime Minister Kim emphasized that Korea stands at a critical crossroads as the United States and China intensify their competition for technological supremacy. He pledged all-out government support to maintain technological leadership through the AI-driven M.AX (manufacturing transformation), the expansion of mother factories, next-generation battery technology development, and strengthened critical-mineral security.   date2025-12-01

Korea Diversifies Markets Through Latin America Amid Shifting Global Trade Environment

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the 29th Korea–Latin America Business Forum on Friday, November 28, at COEX in Seoul, together with the Korean Council on Latin America and the Caribbean and other private sector organizations. The forum brought together diplomatic representatives from 18 Latin American countries in Korea, Korean companies operating in the region, and officials from trade and investment support institutions. Established in 1997, the forum is held annually. This year’s session examined the Latin American business environment in light of global trade shifts following the launch of the Trump administration in the U.S. and explored strategies for Korean companies to expand into high-potential sectors such as digital technologies and infrastructure. Latin America is a major global market with a population of about 690 million and a GDP of roughly USD 7 trillion. The region is also a key source of critical minerals, including lithium and copper, giving it significant potential as a partner for Korea in market diversification and supply chain stability. Since signing its first FTA with Chile in 2004, Korea has expanded its FTA network in the region to eight countries. Over the past two decades, bilateral trade has more than quadrupled, and Korean investment has increased more than twenty-fourfold. In his welcoming remarks, Park Jung-sung, Deputy Minister for Trade at MOTIR, underscored the need for Korea and Latin America to broaden their trade networks and strengthen cooperation on critical minerals and other supply chain issues to ensure sustainable growth amid growing global uncertainty. MOTIR will continue to expand cooperation with Latin American partners through existing resource cooperation platforms and bilateral and multilateral high-level engagements, while actively supporting Korean companies seeking to enter regional markets. date2025-11-28

Korea Advances AI-driven K-Bio Innovation

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), together with KoreaBIO, the Korea Planning & Evaluation Institute of Industrial Technology, the Korea Bio-cluster Federation, and the Medical Device Industry Promotion Foundation, hosted the 2025 Biotechnology Industry Day on Friday, November 28, at the Westin Josun Seoul. Biotechnology Industry Day is an annual event designed to recognize achievements in the biotechnology industry and promote broad collaboration across the sector. Now in its sixth year since its launch in 2020, this year’s event brought together more than 200 participants, including MOTIR Director General for Industrial Policy Park Dong-il, KoreaBIO Chairman Ko Han-sung, and Korea Planning & Evaluation Institute of Industrial Technology President Chun Yoon-jong, as well as award recipients and industry representatives. During the ceremony, the government presented a total of 34 awards to individuals and organizations that contributed to advancing the bio industry. A key highlight of this year’s event was the launch of the AI Bio Alliance, a subcommittee of the M.AX (Manufacturing AX) Alliance launched in September 2025. The AI Bio Alliance brings together Korean biotech companies, AI companies, and support organizations to jointly drive AI-powered innovation in the bio sector, including the development of commercially viable AI models specialized in biotechnology. In his congratulatory remarks, Director General Park noted that despite economic challenges such as tariff uncertainties, Korea’s biotechnology industry continues to strengthen its global competitiveness thanks to the dedication of industry leaders. He added, "The government will continue to provide strong policy support to help Korea emerge as one of the world’s top five bio powerhouses." date2025-11-28

Korea–EU to Deepen Cooperation on Semiconductors, AI, Future Mobility, Batteries, and Economic Security

JK (Jung-Kwan) Kim, Minister of Trade, Industry and Resources (MOTIR), met with Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy at the European Commission, on Thursday, November 27, in Seoul to discuss ways to deepen strategic cooperation in advanced industries and technologies, including semiconductors, artificial intelligence (AI), future mobility, batteries, and supply chains. The meeting took place during Executive Vice-President Virkkunen’s visit to Korea. As the official responsible for the EU’s key priorities—including technology sovereignty, security, and digital transformation—she and Minister Kim underscored the need for joint responses and cooperation in the face of rising protectionism, supply chain disruptions, and other rapidly changing global economic conditions. The two sides recognized the long-standing strategic partnership between Korea and the EU in the economic and technological fields and agreed to elevate cooperation into a future-oriented partnership encompassing economic security and advanced industries. They highlighted that Korea and the EU hold complementary industrial structures in semiconductors—Korea in memory manufacturing and the EU in automotive semiconductors and advanced equipment—and agreed to work closely to ensure supply chain stability amid heightened global uncertainties. The parties also discussed concrete cooperation measures in future-growth industries such as AI, future mobility, and batteries. On AI, Korea shared its plan to develop a Korean version of the Manufacturing-X platform, benchmarking the EU’s industrial data platform of the same name, and proposed cooperation to enhance interoperability in data connectivity and utilization. Korea also emphasized the importance of international standardization for accelerating AI adoption across industries and invited the EU to participate actively in the International AI Standards Summit to be held in Seoul this December. In future mobility, both sides agreed to broaden cooperation in EV transition, charging-infrastructure expansion, and autonomous driving communication and data systems, supporting carbon neutrality goals and climate crisis response. Regarding batteries, Korea explained that domestic companies are strengthening the EU’s advanced battery production capacity and supply chains through investments in the region. Korea requested EU-level interest and support to help expand demand for EU-produced batteries. Korea also conveyed industry concerns about delays in follow-up legislation under the Battery Regulation, asking the EU to consider fairness and consistency with other related policies during the legislative process. The two sides reaffirmed the progress achieved through multilateral platforms such as Eureka and agreed to further strengthen cooperation in advanced technologies and supply chain partnerships. Korea—which became Eureka’s first non-European member when it joined in 2009—has actively pursued cooperation with Europe in ICT, machinery and materials, and biotechnology, and was elected to the Board in 2023. Korea also raised concerns regarding the Czech nuclear FSR investigation and the EU’s proposed new steel import restriction measures, requesting constructive resolution. MOTIR stated that this meeting with the Executive Vice-President of the European Commission served as a valuable opportunity to strengthen Korea–EU cooperation in semiconductors, AI, future mobility, and other advanced industries, while enhancing supply chain stability. MOTIR added that it will activate high-level consultation channels based on this meeting and develop the discussed agenda into concrete cooperation projects. date2025-11-28